Banking for AUSSIES and other non-US webmasters?

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  • Groove
    Confirmed User
    • Jan 2003
    • 3852
    #1

    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?
    Tags: None
    • synapse
      NameNetwork.com
      • Jan 2003
      • 1175
      #2
      We have an account with Bank of America which definetly doesn't have a 100k in it but we haven't had any problems ? I wonder is it because you set-up the account with your AU company ? Our's is registered to our US LLC ...

        Comment

        • MandyD
          Confirmed User
          • Dec 2002
          • 477
          #3
          Depending on how many checks you get, it might be worth looking into getting a US$ account setup at Westpac - I don't use mine any more, but they used to charge me $20/deposit - with up to 20 checks per deposit. They keep the funds in US$'s until withdraw them.... It took 8 days to clear the checks
          Babes Links

            Comment

            • Useless Warrior
              Confirmed User
              • Apr 2004
              • 978
              #4
              As an American, I'd ask you to take whatever extra cash you have and donate it to whomever may kick W's ass out or our White House. Once we regain control over this government-gone-wrong, we'll get rid of the partriot act and all other policies which were designed to remove our freedoms.

              Land of the free, my ass. Cubans will have more freedom by Novemeber.
              OWAMW

                Comment

                • Webby
                  Too lazy to set a custom title
                  • Oct 2002
                  • 14956
                  #5
                  Sad shit - sorry to hear of your problems Groove.

                  We gave up on almost everything "US" a few years back - it was always a humdrum boring sperm count and DNA test at that time. Sounds like it's just a "little bit" worse these days.

                  I wish to fuck the US people would take command of this and get some sanity bad, else they will drift down a road that I doubt they want to drift down...
                  XXX TLD's - Another mosquito to swat.

                    Comment

                    • Giorgio_Xo
                      Confirmed User
                      • Mar 2003
                      • 4263
                      #6
                      Which to Citibank.
                      Make Levees, Not War

                        Comment

                        • teenoffice
                          Confirmed User
                          • Oct 2003
                          • 415
                          #7
                          forget the USA;


                          http://www.matapitti.com
                          Nothing here.

                            Comment

                            • montel
                              Confirmed User
                              • Jul 2001
                              • 2606
                              #8
                              go to westpac/bank of melbourne. unlimited cheques for $8 per bundle.

                              case closed.
                              Barefootsies

                                Comment

                                • Groove
                                  Confirmed User
                                  • Jan 2003
                                  • 3852
                                  #9
                                  Originally posted by montel
                                  go to westpac/bank of melbourne. unlimited cheques for $8 per bundle.

                                  case closed.
                                  Hrmmm, I bank with Westpac and was under the impression that it was $10 PER CHEQUE. However I just phoned them and was advised that it's $10 per deposit with a maximim of 8 cheques per deposit, which is certainly a lot better than $10 per cheque

                                  They also said a US$ account costs $50/month for balances under $5k or $25/month for balances of $5k+, with NO FEES FOR DEPOSITING CHEQUES. If this advice is correct, a US$ account sounds like a viable option

                                    Comment

                                    • Groove
                                      Confirmed User
                                      • Jan 2003
                                      • 3852
                                      #10
                                      Originally posted by synapse
                                      We have an account with Bank of America which definetly doesn't have a 100k in it but we haven't had any problems ? I wonder is it because you set-up the account with your AU company ? Our's is registered to our US LLC ...
                                      Yep the $100k minimum only applies to "foreign" accounts. As a US company I expect that you'd no longer be classified as a foreign account holder.
                                      Last edited by Groove; 05-06-2004, 09:43 PM.

                                        Comment

                                        • Ash@phpFX
                                          Confirmed User
                                          • Nov 2003
                                          • 4292
                                          #11
                                          commonwealth bank, go and talk to someone and explain how your income comes in, i did this when i was opening my business account and i get unlimited US$ cheques for $8

                                            Comment

                                            • pudcat
                                              Confirmed User
                                              • Mar 2003
                                              • 1169
                                              #12
                                              Originally posted by montel
                                              go to westpac/bank of melbourne. unlimited cheques for $8 per bundle.

                                              case closed.
                                              Is there a special way that you are getting this deal?

                                              Westpac never wants to give this deal when my partner visits the bank
                                              SUBMIT YOUR BABE GALLERIES

                                              PROMOTE YOUR BLOG HERE

                                              always looking for hardlinks icq #207011694

                                              Thunder-Ball.net, good for hardlink exchanges

                                                Comment

                                                • pudcat
                                                  Confirmed User
                                                  • Mar 2003
                                                  • 1169
                                                  #13
                                                  bump
                                                  SUBMIT YOUR BABE GALLERIES

                                                  PROMOTE YOUR BLOG HERE

                                                  always looking for hardlinks icq #207011694

                                                  Thunder-Ball.net, good for hardlink exchanges

                                                    Comment

                                                    • Theo
                                                      HAL 9000
                                                      • May 2001
                                                      • 34515
                                                      #14
                                                      west2pac/bank of melbourne

                                                        Comment

                                                        • Theo
                                                          HAL 9000
                                                          • May 2001
                                                          • 34515
                                                          #15
                                                          send an email to laiki bank in australia, it's part of HSBC

                                                          http://www.laiki.com/web/w3au.nsf/We...256B54005094ED

                                                          i doubt they will charge you that high

                                                            Comment

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