US bank account?
 

Does anyone know of the procedures and fees related to opening a US bank account as a non-US resident? I need this for my daily dealings with clients and sponsors, would make my life a lot easier. If you can also recommend someone who provides the service of setting up an account I would be grateful, thanks.

the best way is drive down to the nearest USA border town..
the banks there are used to opening accounts for Canadians..

I know a guy who is not a US resident and he got a bank account with this US bank: www.thebancorp.com

Thanks Shemp, that would really be the easiest thing to do, if I were in Canada. However, being in Europe might cause a bit of a problem, when trying to drive to the US. :1orglaugh

Anyway, joking aside, yes, I am considering putting my ass on a plane and opening an account, would this be doable hassle free for a European?

Probably tons of hassles due to Patriot Act

Where I kive, it woud be about impossible. Even if you live here, sometimes it's hard to open an account. That's even with cash in your hand!

Found smaller local banks were easier than the big ones.

Wanted to open a bank account for my significant in the same bank as me to make life easier. They wouldn't let her because she did not have enough ID. That's with a drivers license, ATM cards from other banks and me sitting there with three accounts open at the bank.

Yep, they said it was the Patriot Act

I say Bullshit!!! Why did another bank open account for her without question?

Yeah, that's what I'm fearing, reason why I'd prefer someone to do it for me, I know there are people who specialize in this kind of service.

Makes you wonder where their sense of business is... Thing is, they tend to be that way when they know you don't have a lot of choice. If this was me, I would've closed all my accounts and moved my business to my wife's bank. I hate doing business with stiff rednecks.

yes, thats a nasty drive ;)

www.thebancorp.com

My friend opened his account with them over the phone and by sending stuff (photocopies of ID) through the mail. They sent him an ATM and debit card he can use anywhere in the world. He's never even been to the US before.

I'm Australian and have had an account with Chase in NY for several years. However I recently had to close the account because Chase now require a minimum $100,000 balance in order to cover the additional record keeping and monitoring expenses required under The Patriot Act.

Check the internet. Most US banks have a website and
ing.com is an internet bank without any branches.

Some of the banks we use localy are:
wamu.com
wellsfargo.com

These guys would actually look OK, if it weren't for the $500/day withdrawal limit on the ATM card. This way I'm better off sticking with ePassporte, at least there I can have my daily withdrawal limit raised, at least in theory. :1orglaugh

That is exactly what I did...

4 hour drive to Michigan to open up a simple chequing account. LOL!

Was worth it though! :)

DH

Yeah, I did check the Internet. I was basically looking for some recommendations here, since I'm kind of challenged when it comes to which US bank to use, was hoping for some more practical feedback.

for sure..
its legal for a canadian to have an account in the US..
you need to fill out a w-8 form and have some decent ID with you.. just keep the transacations under 10K at a time... ;)

why keep the transaction below $10k ?

Btw, dont remember signing a w-8 form.. what is it exactly ?

Brisk,does your friend has a US company?

If you're in the UK, have a word with HSBC - last time I checked, they offered US based business accounts to UK citizens. I think there was a £50 per month service charge though...

No, he just has that personal bank account

try to do it through your on bank, most often they will be able to set it up for you as a business account. be impossible to open a personal due to money laundering acts.

i know HSBC do it if you with them

From a legality point of view, I'm pretty sure it's not against the law for anyone to have a bank account in the US. I take it it's the hassle of opening one that differs between say Canadians and Europeans.

thanks

if your scottish they cant understand you....

lol :1orglaugh

Yep, I can certainly understand that kind of hassle. :1orglaugh

However, I'm not Scottish and thank God my English sounds nothing like that. In fact, if I spoke with you, you'd probably think I was fooling you about not living in the US. :winkwink:

Ok a suggestion for You,

Contact these people, http://www.corporate.com

They will act as Your US agent, use Your EU address as your permenant one, they will forward all recieved docs relating to Your new company to You anywhere

Next, once incorporated contact the IRS, and request Form SS4, once You fill this out and fax it back to them, You will be issued a company tax id number

Lastly, get on a plane with all Your paperwork, and hit any main bank in the US and You will have a business account with Your own company Visa card

There is many advantages to incorporating in Delaware, which I am sure You will discover

No offence, but they also have a book on this

http://www.corporate.com/dummies.cfm

Yeah, I've heard a lot about the advantages of incorporating in Delaware, the only thing that's stopped me from doing it so far is that I'm still not in the clear about how my revenue will be taxed and where. I'm sure you're aware of the semi-socialist taxation policies of most EU governments. I don't want them to consider me worthy of being stoned to death just because they *think* I'm trying to evade paying taxes.

Will you need to obey the new 2257 law if you incorporate in the US..?

of course

Did you do a lot of thinking, before asking that question? :)

:1orglaugh

My answer to that is, where its made is where its paid.

I have held a couple of directorships in the UK, london based companies and know the ins and outs fairly well of the inland revenue system there, so I would leave out the semi and go straight to the socialist taxation You mentioned.

The information I gave earlier is what I had to do to get set up

If You want to talk further my icq is 208603797













and

I guess nobody told you that Buffalo was an hour and a half huh? :eek7