Web Hosting Talk : Web Hosting Main Forums : Ecommerce Hosting & Discussion : Bank account for non us resident

[tetrahost]

Hello guys, is there anyway we can open usa bank account outside from usa? i have tried chase.com and etrade.com but failed to open as they are not supporting it now.

[nibb]

You only have this options:

1. Open it via a local bank, like HSBC or Citibank. You first have to open a nice account with them locally and then request one in the US.

2. Open it trought a lawver, or broker service.

3. Fly to the US, show your passport, open bank account.


1. Is expensive. Takes sometime. Lots of papers.
2. Its not so expensive but its not safe. Usually they will open it on their names, not yours. There are nominee services, but they are not allowed. There is a policy that banks have to now their clients. So this services work sometime until they shut the account down or if you have enought money be sure to trust the person. They are also expensive, not so much like 1, but more then 3.
3. Cheap, fast.

[Agham]

option 3 not cheap too :p

i am from indonesia, if fly from jakarta to jfk cost around 2k usd one way. and return maybe same :p

4k minimum in trip, is exclude hotel, eat, and traveling :p

[FlashDesign]

Isn't it like this that just a passport is not enough to open an account in US bank? Don't you need social security card/number & US address etc. ?

[Alex Pher]

Originally Posted by FlashDesign

Isn't it like this that just a passport is not enough to open an account in US bank? Don't you need social security card/number & US address etc. ?

I think it depends upon where you are located. I am in Canada and have an account in the US but don't have US SSN or US address.

[Ekin]

AFAIK, most US banks are happy just with KYC - not sure on this though.

[intellitech]

US banks can only open an account "by knowing the identity" of the account holder (these are rules that the government has set post 9/11 and other laws).
"Knowing" the customer is achieved by either their SSN (US citizens), or by physically visiting a branch in the state you wish to open an account in, with two forms of ID - passport and perhaps a foreign credit / debit card.

Alternatively, there is always the avenue of oppening a "Business" bank account via agents .. personal bank account (for FOREIGNERS) I think is not possible unless you are physically present in the US, and are present in the US for a total period of 90 days per calendar year - i.e. if you visit often, then your total time on US soild for the combined visits is 90 days or more ..

Hope that helps ..

[nibb]

Originally Posted by Agham

option 3 not cheap too :p

i am from indonesia, if fly from jakarta to jfk cost around 2k usd one way. and return maybe same :p

4k minimum in trip, is exclude hotel, eat, and traveling :p

Believe me, option 3 is the cheapest, there is no way around it. People have tried for years. Unless you get a prepaid debit card which is not a us bank account.

The most easy and cheap way is to fly to the US and go and present yourself on a local branch and give some documents, which includes your passport. Before 9/11 it was very easy. No it isnt. There is a law that requires a bank to proof ID of their customers.

Option 1, is expensive. Dont expect your local bank to do it for free or for a 10.000$ account, you must have plenty of money to require a US account. Option 2, will also cost you more, because a lawver is more expensive, since it has to be a US lawver, and they are going to charge you a monthly fee probably as they making risk on your name.

If you need a real bank account in the US, to fly there is the only option and its pretty simple actually. If you cannot enter the US then the bank will not open it for you anyway. If you have a VISA for the US and can enter it without problems, for example with European Passports, its as easy as to fly, go the branch and speak with someone. If you cannot do this, forget any solution that promises you to open a US bank account. They are all scams or broker accounts.

If you thought there is a remote service that will open you a bank account, there isnt because its ilegal. You have to present yourself on the bank or do it trought a local branch like HSBC.

No, you dont need a SSN or US address. There is no law that says foreigns cannot open accounts in the US. Its actually money for them. But it depends on the bank to accept you, and they will not break the law opening a bank account for someone they dont know. One of the best ways is to get you pass the border controls. If you enter the US there is a big chance you really are who you say you are and then they check your passport.

If your idea is to get a bank account because you need a US merchant account then forget it right away. Because if you can have a US bank account in the US going to the bank, you CANT with a merchant. They will not open a US merchant if you dont live in the US with a SSN number. Thats a whole other story. Getting a US account is easy compared to a US merchant account. You will need to open a US company, hire someone in the US, put him in your company and then he can open the merchant account with his SSN number, but you will need to pay him a salary or share your company profits. A merchant account is not profit if unless you sell 10.000$ a month. If you are not in the US and need to make all those steps you can double that. I say this because I dont see why someone would like a US account if its wanst for this. Most people that ask for US bank account are because they probably need a merchant account or because they want to receive money from the US, companies that ACH you the money each month. If the idea was the second you will also run into trouble, because opening the bank account is easy, taking the money out of the US is not. You need to take more then the 10.000$ a month you will trigger alerts. Even if its your money you need to prove it, pay taxes if its required and go trough other ways. That doesnt mean you can, actually you can take the money out and dont pay taxes if your not in the US and its your earned money but its not as easy if you need to take allot of money out.

[nibb]

Originally Posted by Agham

option 3 not cheap too :p

i am from indonesia, if fly from jakarta to jfk cost around 2k usd one way. and return maybe same :p

4k minimum in trip, is exclude hotel, eat, and traveling :p

This may sound harsh. But if you dont have 4k in the first place, there is not interested on the bank opening an account for you. What I mean is, you can open the account with 50$, but they expect you to have a minimum income or salary, and if you cannot spend 4k on a trip then its not worth in the first place.

Bankers make money with money, they dont actually work. They profit from air, making a 10 in a 100. They live from others peoples money and actually from others people work and earnings. Thats why they will give you 4% anual interests on your money but charge you 15% a year if they load you exactly the same money (not even their money, but from someone else). So by that way, they dont work or care to work with people that cannot move money around. Saying that, poor people. Thats why poor people dont have bank accounts. They are in the money business. In the US or Europe even poor people have bank accounts, since they are free, thats not the case in others countries around the world. But thats another story, bankers care about money only, and they dont hide the fact. So if they see your are going to open an account with 50$ but they now you are actually someone that moves allot of money around, they are going to be happy to open it for 1$ since eventually they will profit someway. But not if you leave 50$ for years.

[Agham]

i see nibb..

i need advise from you. its will be a problem or not if foreign people personal or business account have turn over around 50k usd each month? they will asking much question. because my base business is like broker of goods. that i bought goods for people and sell people goods here. and since my business base of services, every way to decrease % of cost is become profit to me. and i don't want because want to save 1-2% and will risk of all my money with held by government.


another question too, is needed to foreign people to report his wealth at us to irs?

[u4t2t]

accounts can be opened without visit of the bank in person, you do not need ssn or us address for personal account, for business account you ened ein and us address

[XCart]

I am afraid without having business registered in US you will not be able to open a merchant account there.

[u4t2t]

correct, for merchant account US comapny or LLC is needed and also EIN

[NameSniper]

Originally Posted by u4t2t

accounts can be opened without visit of the bank in person, you do not need ssn or us address for personal account, for business account you ened ein and us address

Care to share in which U.S. banks you may open Personal Bank Account for international webmasters?

[u4t2t]

try top 5 banks, but important is knowing the right person, if you will not talk with right person they will say that they can not open it