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Need a bank account in the USA as an Indian citizen...

Discussion in 'Making Money' started by bizman5, Aug 10, 2017.

  1. bizman5

    bizman5 Newbie

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    So good news my merch by amazon came through (had to wait 6 months, had applied in february 2017)
    Now I need to add a bank account but India is not in the options so I'm stumped. What should I do?

    Possible option- I'm in australia for studies but I don't wanna link this bank account because I will get taxed fucking 50% because I'm an international student. Should I supply this bank information and simply not declare? Sounds risky and I'm not sure.

    I've heard about payoneer but I'm not sure

    Pinging other Indians who have an American bank account.
     
  2. Sephrata

    Sephrata Senior Member

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    Amazon only withhold US taxes, they have nothing to do with international tax rates. If you complete the 1099 and 1042-S forms and the US has a double taxation treaty with your country, there should be no withholding tax.

    I think most people use Payoneer.
     
  3. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    This.

    @OP: See if you can get the US Payment Service enabled for your Payoneer account, which is practically a virtual US checking account. You can link it with Amazon and you'll get paid by ACH at the end of each month.
     
  4. bizman5

    bizman5 Newbie

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    I didnt understand the first sentence at all but I'll look into payoneer thanks. Got any guide on how to set it up? I'll google it too
     
  5. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    See my reply above.

    If i were you, at first i'd make sure that as an Indian you can get the US Payment Service (VBA) enabled or no, without that a Payoneer account is of no use in this case, because Amazon doesn't pay out to the card via mass payout like most other companies do, they only pay to the VBA via direct deposit/ACH.
     
  6. CrazyMint

    CrazyMint Newbie

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    Check out atlas from stripe https://stripe.com/atlas it's a service that helps you setup a company in the us. Hope it helps
     
  7. bizman5

    bizman5 Newbie

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    Looks like payoneer has that ability.

    You got any experience with using that? Where are you based?
     
  8. indianfreak

    indianfreak Power Member

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    I'm receiving affiliate payments from Amazon.com through Payoneer without any problems. (I'm from India, too.)
     
  9. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    I'm getting my Amazon payments there without any issue, i'm located in EU, but as i see indianfreak just assured you that it works for Indians too. :)
     
  10. faithjhung

    faithjhung Jr. VIP Jr. VIP

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    Payoneer works for India. I have a client who receives payment from Merch via Payoneer. Just wait for your card and you can withdraw from your local ATM.
     
  11. webhostingproviders

    webhostingproviders Jr. VIP Jr. VIP Premium Member

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    @CrazyMint thnx for the link, checked it seems very expesnive for starters $500 to setup the account
     
  12. bizman5

    bizman5 Newbie

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    Thanks man you the mvp
    Cheers
     
  13. CrazyMint

    CrazyMint Newbie

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    Yes but they don't setup just an account, they set up a full US company on your behalf
     
  14. THUNDERELVI

    THUNDERELVI Elite Member

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    It's actually cheap - you get a registered company you can do business with, a bank account with e-banking, debit cards, a free initial consultation with a lawyer, further consultations charged at a flat rate and a few other perks I don't remember. The value you get for the money is outstanding, I mean you don't lift a finger and you register a company half way across the world online without travelling there in person. Only the ticket would cost you 2x more. Even if you are in the US it's cheaper if you factor in the time and hassle it will take to do the job yourself.