Where Can I get a US bank account as a foreign WM? - GoFuckYourself.com

quantum-x · 01-10-2004, 03:55 AM

I'm getting fucked over by the exchange rate, does anyone know of any US banks that I can bank w/ as a foreigner, or a solution that allows me to sit on the US funds until the $ rises again, and any possible tax implications etc..

thanks!

mrthumbs · 01-10-2004, 04:01 AM

dude, contact YOUR bank and have them setup a dollar account.

sacX · 01-10-2004, 04:05 AM

Quote:

Originally posted by quantum-x
I'm getting fucked over by the exchange rate, does anyone know of any US banks that I can bank w/ as a foreigner, or a solution that allows me to sit on the US funds until the $ rises again, and any possible tax implications etc..

thanks!

Hi quantum-x,

I have a USD account with the ANZ here in New Zealand.. Pretty much any of your local banks ought to be able to hook you up.

With regards to tax I convert the dollar amount to my local currency (in the books) based on the average exchange rate for the month Inland Revenue provides this.. well to my accountant anyway..

I don't really know if holding USD is really the way to go, it's definitely one strategy.. I have currency options that offer some protection for what I have although only about a quarter protected, I got this through ANZ too, although I had to ask the right questions coz staff on the ground generally don't have a clue what you're talking about.

Another option is to catch a plane to Vanuatu and setup a USD account with ANZ there.. Less tax hassles.. If you chose that option let me know how you get on

smproduction · 01-10-2004, 04:08 AM

Quote:

Originally posted by mrthumbs
dude, contact YOUR bank and have them setup a dollar account.

This is the faster and cheaper way

quantum-x · 01-10-2004, 04:13 AM

Quote:

Originally posted by mrthumbs
dude, contact YOUR bank and have them setup a dollar account.

my bank, suncorp wont let me trade in US$ unless i pull in ~$50-100kUS a month

mrthumbs · 01-10-2004, 04:20 AM

Quote:

Originally posted by quantum-x

my bank, suncorp wont let me trade in US$ unless i pull in ~$50-100kUS a month

find yourself another local bank that will. Unless you live in
some distorted african country its not rocket science.

Trax · 01-10-2004, 04:31 AM

its really no big deal

DVTimes · 01-10-2004, 04:39 AM

Its an easy process.

I have one in the UK.

You may not find it any better, unless you leave the money in for a long time, as you may not get interest on it, plus you may have bank charges.

I am not sure that it makes much sense having a US dollar account, unless you plan to leave the cash in it until it increases (the dollar price) in some months time.

sacX · 01-10-2004, 06:33 AM

i have individual and company foreign currency accounts with ANZ.. starting balance minimum is 10k though..

BRISK · 01-10-2004, 08:38 AM

www.thebancorp.com

Ash@phpFX · 01-10-2004, 09:20 AM

im also interested in a $US account in australia, are there any options to avoid excessive fees?

directfiesta · 01-10-2004, 12:13 PM

www.tdwaterhouse.com

Located in NY.

01-10-2004, 03:55 AM	#1
quantum-x Confirmed User Join Date: Feb 2002 Location: ICQ: 251425 Fr/Au/Ca Posts: 6,863	Where Can I get a US bank account as a foreign WM? I'm getting fucked over by the exchange rate, does anyone know of any US banks that I can bank w/ as a foreigner, or a solution that allows me to sit on the US funds until the $ rises again, and any possible tax implications etc.. thanks!

01-10-2004, 04:39 AM	#8
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,547	Its an easy process. I have one in the UK. You may not find it any better, unless you leave the money in for a long time, as you may not get interest on it, plus you may have bank charges. I am not sure that it makes much sense having a US dollar account, unless you plan to leave the cash in it until it increases (the dollar price) in some months time. __________________ The Affiliate Program

01-10-2004, 06:33 AM	#9
sacX Confirmed User Join Date: Dec 2002 Location: New Zealand Posts: 2,998	i have individual and company foreign currency accounts with ANZ.. starting balance minimum is 10k though.. __________________ Have Asian Language Traffic?

01-10-2004, 08:38 AM	#10
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	www.thebancorp.com __________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

01-10-2004, 12:13 PM	#12
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Montreal, Quebec Posts: 29,783	www.tdwaterhouse.com Located in NY. __________________ I know that Asspimple is stoopid ... As he says, it is a FACT ! But I can't figure out how he can breathe or type , at the same time ....

01-10-2004, 04:01 AM	#2
mrthumbs salad tossing sig guy Join Date: Apr 2002 Location: mrthumbs*gmail.com Posts: 11,702	dude, contact YOUR bank and have them setup a dollar account.

01-10-2004, 04:31 AM	#7
Trax [----------------------] Join Date: Aug 2001 Posts: 14,486	its really no big deal

01-10-2004, 09:20 AM	#11
Ash@phpFX Confirmed User Join Date: Nov 2003 Posts: 4,292	im also interested in a $US account in australia, are there any options to avoid excessive fees?