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Opening A US bank account for foreigners

Discussion in 'Business & Tax Advice' started by darkman, Feb 19, 2011.

  1. darkman

    darkman Regular Member

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    Guys,
    Anyone knows how a foreigner can open a US bank account?
    I want to register one so i can transfer money from CB to this bank and then to my local bank.
    Thanks in advance.

    Darkman
     
  2. sendlerad

    sendlerad Jr. VIP Jr. VIP Premium Member

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    would like to get advice on this too. Receiving and cashing amazon checks in EU is real pain in ass... Also would one bank account could be used with several Clickbank, Amazon accounts?
     
  3. Gruzin

    Gruzin BANNED BANNED

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    Also interested. Would like to find out some good service
     
  4. hamlak

    hamlak Newbie

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    I can assist you guys. I have an easy solution. PM me or visit my site.
     
  5. easydab

    easydab Junior Member

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    I enquired about this a few months ago with my local bank ( credit suisse ) and they said to me that they could take care of it without any problem and it would take approximately 5-10 business days.

    I have not done it yet as I did not manage to make enough cash online to make it any value to me but i will once i do.
     
  6. hamlak

    hamlak Newbie

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    I know about this and it is my number one source of income online. I charge for this but for BHW members I can offer a discount. pm if interested.
     
  7. richelld

    richelld Junior Member

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    I am very interested also but have no pm ability yet plz let me know how I can get started :)
     
  8. adm0001

    adm0001 Registered Member

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    The easiest way is to fly to the US, walk into almost any bank, and open your account.

    I am not kidding, I did just that a couple of years ago. I had a better reason to be in the US than just opening an account, but nevertheless.

    The reason behind this is they have some relatively new (few years old) know-your-customer legislation. It may be connected with the Patriot Act if I recall correctly.

    So, to open an account, you must be either physically present in the office, or provide some respected (meaning recognized by this legislation as valid proxy for identity check) foreign bank's recommendation if you want to do it remotely. Being a foreigner is not a limitation per se, unless you are from Iraq or North Korea, but they must verify your identity as described above.

    A bank in your country that can issue such a recommendation wouldn't bother unless you have a good history and substantial accounts with them.

    So book your trip :) US is an entertaining place to visit, anyway.

    P.S. Come to think of it, it's a rule almost in every country these days. I travel quite a lot. You can't open a bank account remotely as a foreigner, but no problem if you just walk in.
     
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    Last edited: Feb 27, 2011
  9. richelld

    richelld Junior Member

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    we have to apply for a passport stamp 1 year in advance :( what about these guys offering services?
     
  10. misscaprice

    misscaprice Newbie

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    Is there any limit to post on this section, I tried to explain in details how to open account witout any links or references, just sharing my own experience but it does not allow me to post it.
    I have read the rules, have not seen any obstacles. Can anyone tell me what might be the problem or how to contact moderator/administrator?
     
    Last edited: Mar 2, 2011
  11. Octobus

    Octobus Newbie

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    I once looked into this and I think the only viable long-term option is to have an account in a bank that has a US subsidiary, like the case of Credit Suisse, and have them open to you a US account. HSBC is another bank that comes to my mind quickly. You better have a good relationship with your bank and hold somewhat substantial funds, not just few bucks.

    It is possible to open an account in person on US soil but even if you do get the account opened you would need a US mailing address... thats where having your existing bank open you an account becomes handy because they can supply you with an address and forward your bank statements to your place of residence.
     
    Last edited: Mar 2, 2011
  12. sendlerad

    sendlerad Jr. VIP Jr. VIP Premium Member

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    Anyone who can help me open bank account in USA, UK, that will work with cashing multiple amazon, adsense accounts,
    i will pay $, or share my amazon adsense BH method,

    Please pm me, your instant messenger details,
     
  13. misscaprice

    misscaprice Newbie

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    I am sorry but cannot reply to PM as I do not have 15 posts.
    I do not open bank accounts, simply sharing my own experience, as I know how difficult it is to open the account remotely.


    Due to Patriot Act in order to fight against money laundering and terrorism, banks are required to identify and check throughly their customers. Remember to check carefully everyone offering to help you open a bank account. Most of the time, what they offer as a service is to fill your bank papers and file them in a bank. Ask them exactly what is their service and how they will assist you, whether they do have established connection with banks, etc. They cannot guarantee 100% success and at the end you might have to fly to USA.

    There are three ways to open bank account as a foreigner:

    1) fly to USA and walk to bank in person - this is the easiest but somehow complicated way. For some countries you might need a permission to fly to USA.

    2) Check if the bank has a branch in your contry.
    But only using the same name of the bank is not enough. They have to be branch of the USA bank, not to be a bank registered under the foreign country legislation. For example you can check CityBank, Wahovia or HSBC. If you are lucky you can open the bank account with the officer in your country.

    3) If you are a loyal customer to your own bank for years, you can ask them to help you. They have partners in USA and can assist you opening an account with their partner bank. Using your bank recommendation is really a time-consuming and difficult way, but it works.

    Hope this helps

    P.S. I am new to your community and am glad to meet you, guys and girls. You have really good threads.
     
    • Thanks Thanks x 4
    Last edited: Mar 2, 2011
  14. Octobus

    Octobus Newbie

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    No it doesn't have to be a branch of a US bank. It is enough for a foreign bank to have branch/subsidiary in the US and that they offer retail banking services in US (e.g checking accounts)

    I assume you do have a corporation, not a suspicious offshore entity in a blacklisted country :D... so you could try to get an US account for it and I'd guess your own bank more willing to help you than in the case of a personal account.
     
  15. haridada

    haridada Senior Member

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    So, are you saying that if i have a HDFC account in India, i could use the same HDFC Indian bank to open a bank account in US? Just asking to clear my doubts
     
  16. misscaprice

    misscaprice Newbie

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    This is not always true, it depends on the bank probably. CityBank operate in US offering retail banking and have Citybank in my country, but is not subsidiary or branch. They refused to help me and couldn't open the account for me.
     
  17. Octobus

    Octobus Newbie

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    Yes, if they have a subsidiary in the US. Even if not, they might be able refer you to and vouch you for a US bank for account opening. Ask them, thats the only way you will find out for sure! :)
     
  18. Octobus

    Octobus Newbie

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    Of course it depends on the bank. They're not obligated in anyway to open you an account. There's quite lot of regulatory hurdles especially after the Patriot Act when it comes to foreigners holding a US bank account. Thus a lot of extra costs involved so you better be a good customer ;)
     
  19. Octobus

    Octobus Newbie

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    Personally I dont see the benefit of having a US account vs. costs and trouble. You should be able to cash US checks which is the only real use I can foresee for having one. You might have to go shopping around a bit to find the right bank to do it for you in your own country. At least I've been able to cash without issues and with money even credited on my account the same day. Of course in this case my bank trusts me enough not to give them bogus checks :D
     
  20. Monrox

    Monrox Power Member

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    Some people would kill for an account at credit suisse and you are talking about other banks. Or are you simply taunting us? :D