GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Banking for AUSSIES and other non-US webmasters?

Groove · 05-06-2004, 05:55 PM

In 1999 I established a Small Business Account with Chase in New York so that I could deposit US$ cheques which are too small to economically deposit is my Australian account (ie my bank charges AU$10 per cheque deposited).

This arrangement was working just fine, but then a couple of days ago I received a letter from Chase saying that I am now required to maintain a minimum balance of US$100,000 or they will close my account in 30-days. I phoned Chase to find out what the deal was and was told that the new minimum balance resulted from the high administrative overhead imposed by the account monitoring requirements of George W's Patriot Act.

Thanks George!

There's no way in the World that I am going to leave US$100,000 stagnating in a bank account! So does anyone know where I can:

a) establish a NO/LOW MINIMUM BALANCE business account
with a US bank WITHOUT VISITING THE USA to open it

or

b) find an Australian bank that charges less than AU$10 per
foreign cheque deposited?

05-06-2004, 05:55 PM
Groove Confirmed User Join Date: Jan 2003 Posts: 3,852	Banking for AUSSIES and other non-US webmasters? In 1999 I established a Small Business Account with Chase in New York so that I could deposit US$ cheques which are too small to economically deposit is my Australian account (ie my bank charges AU$10 per cheque deposited). This arrangement was working just fine, but then a couple of days ago I received a letter from Chase saying that I am now required to maintain a minimum balance of US$100,000 or they will close my account in 30-days. I phoned Chase to find out what the deal was and was told that the new minimum balance resulted from the high administrative overhead imposed by the account monitoring requirements of George W's Patriot Act. Thanks George! There's no way in the World that I am going to leave US$100,000 stagnating in a bank account! So does anyone know where I can: a) establish a NO/LOW MINIMUM BALANCE business account with a US bank WITHOUT VISITING THE USA to open it or b) find an Australian bank that charges less than AU$10 per foreign cheque deposited?