Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Bank account question. Proof of address an issue

Bank account question. Proof of address an issue

Old Apr 17th 2014, 8:38 pm
  #16  
Forum Regular
 
Joined: Mar 2013
Posts: 76
AndFinally is an unknown quantity at this point
Default Re: Bank account question. Proof of address an issue

Originally Posted by hungryhorace
I can't speak to the American market, but in the UK they bother because people sign up and pay £10-15pcm to receive these silly scores.
It's free on Credit Karma, they just try to sell you all manner of credit cards and other products in exchange
AndFinally is offline  
Old Apr 17th 2014, 8:38 pm
  #17  
Banned
 
Joined: Apr 2013
Posts: 5,154
hungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond reputehungryhorace has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

Originally Posted by AndFinally
It's free on Credit Karma, they just try to sell you all manner of credit cards and other products in exchange
Same with http://www.noddle.co.uk/ in the UK
hungryhorace is offline  
Old Apr 17th 2014, 8:39 pm
  #18  
in Northern California
 
Joined: Apr 2014
Posts: 284
malch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

Originally Posted by Bob
Bad history or score is better than no history.
Yep and it's worth making an effort to get started building credit history ASAP.

1. Get that Social Security Number.
2. Open a bank account
3. Get a credit card

Since my employer was affiliated with a Credit Union, I opened an account there too. Even took out a $2K loan secured with cash deposited into a savings account. I set up automatic payments from the savings account to the loan.

The money went round in circles for a while and it cost a few bucks interest. But it did wonders for my credit and few months later I was able to buy a home. With 100% financing. However, that did require some additional and creative steps :-)
malch is offline  
Old Apr 18th 2014, 5:56 pm
  #19  
Forum Regular
Thread Starter
 
Joined: Apr 2014
Posts: 50
delbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to beholddelbitter is a splendid one to behold
Default Re: Bank account question. Proof of address an issue

Originally Posted by AndFinally
I was in a similar position when I first moved to the USA, I had a serviced apartment/corporate housing and therefore no utility bills or anything in my name - not even the lease.

I went to Bank Of America and they didn't seem too fussed about proof of address and opened an account using the apartment address. You will need your passport however.

I would get cracking on your credit score as soon as you arrive, go get your SSN and a secured credit card. Next step, log on to Credit Karma and keep an eye on things. Good luck!
Yeah nice. I was planning on going straight to social security office when I get there and then chase (bank) after that
delbitter is offline  
Old Apr 18th 2014, 6:00 pm
  #20  
Forum Regular
 
Joined: Mar 2013
Posts: 76
AndFinally is an unknown quantity at this point
Default Re: Bank account question. Proof of address an issue

Originally Posted by delbitter
Yeah nice. I was planning on going straight to social security office when I get there and then chase (bank) after that
Just be aware that they expect you to pay for banking services here! Chase charge anything from $8 to $15 a month unless you have your pay check deposited directly and/or keep an minimum balance of $1500.

Good luck!
AndFinally is offline  
Old Apr 18th 2014, 6:07 pm
  #21  
JAJ
Retired
 
JAJ's Avatar
 
Joined: Apr 2004
Posts: 34,649
JAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

Originally Posted by AndFinally
Just be aware that they expect you to pay for banking services here! Chase charge anything from $8 to $15 a month unless you have your pay check deposited directly and/or keep an minimum balance of $1500.
There are alternatives to Chase.
Most smaller banks do not charge, or charge much less. However, this may vary by region.
JAJ is offline  
Old Apr 18th 2014, 6:09 pm
  #22  
Forum Regular
 
Joined: Mar 2013
Posts: 76
AndFinally is an unknown quantity at this point
Default Re: Bank account question. Proof of address an issue

Originally Posted by JAJ
There are alternatives to Chase.
Most smaller banks do not charge, or charge much less. However, this may vary by region.
I hear good things about Credit Unions and also some of the online banks have no fees including ATM fees.

I have a Bank of America eSavings account, they don't charge for that but they do try and get you to "upgrade" every time you visit them to an account that costs!
AndFinally is offline  
Old Apr 18th 2014, 6:22 pm
  #23  
in Northern California
 
Joined: Apr 2014
Posts: 284
malch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

Originally Posted by AndFinally
I hear good things about Credit Unions and also some of the online banks have no fees including ATM fees.
Opening an account with a Credit Union can really help build credit history -- they're viewed very favorably by the credit industry.

It worked for me. But it's not just for ex-pats. My daughter recently went to university with basically no credit history. One of the first things we did was open an account with the University Credit Union. It was easy enough although we had to co-sign since she's only 17.
malch is offline  
Old Apr 18th 2014, 8:44 pm
  #24  
BE Enthusiast
 
Vimto's Avatar
 
Joined: Oct 2002
Location: Atlanta via Dubai, Belgium, Greece, Saudi Arabia
Posts: 953
Vimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond reputeVimto has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

The UK is the same BTW, a colleague of mine who had been out of the UK for over 10 years with no ties such as a house or bank account returned to find out he was paying thru the nose for car insurance, couldn't get 6 month same as cash credit terms when he tried to furnish is new apartment. He was told that as he wasn't on the electoral roll and had zero credit history that they could find he would need to pay cash for everything.
He said he had just fallen out of the sky at the age of 40 and was starting from scratch all over again.
Vimto is offline  
Old Apr 18th 2014, 8:44 pm
  #25  
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,397
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: Bank account question. Proof of address an issue

Originally Posted by malch
..... a Credit Union .... -- they're viewed very favorably by the credit industry. ....
I was inclined to say "twaddle!" but after thinking a moment, I have no idea what you even mean?

If by "the credit industry" you mean the credit agencies, then your statement is just plain wrong. The agencies don't give a stuff what sort of credit you have, and there are certainly no "bonus points" for having a loan from a credit union.
Pulaski is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.