Jaag

I also thought about HSBC as I'm a customer of 20 years, but they were next to useless and don't have any ATMs or branches nearby.

There's nothing like local knowledge, so if you can contact some work colleagues in the area and ask them who they bank with/who is good, they are more likely to know. I did that and they all came back that Chase was the pick of the bunch.

As for credit cards, I have a UK Lloyds Avios Amex which has zero Forex fees, so I can simply use that in US and pay for it using my UK online banking.

To start building a credit file, I see there are some low limit/no rewards card that offer "accelerated credit history building" and more importantly free access to your credit score, so I figured some regular small use will help build a file, and I can use the credit score access to work out when it's worth applying for a rewards AMEX (or other card).

I hope that's a sensible approach?!

Owen778

I've been sorting out our finances this year, and this is what we do:
- Pick separate banks for your checking (current) account and savings. It is unusual for the best bank for both to be the same.
- The checking account needs good service from a local branch. Get a savings account from this bank too, for money you might require at such short notice that you don't have time to transfer it from savings. We use Chase, mainly because my wife has used them for decades. Their interest rates on savings might as well not exist.
- The savings account needs a decent interest rate. Our main savings account is with GE Capital. Confusingly GE actually own two separate online retail banks. The other one is now renamed to Synchrony Bank. We also have a certificate of deposit (CD) with Barclays US that pays better interest than any savings account, but incurs a penalty if you take the money early.
- Both banks should hopefully be in a strong financial position, which is why I rejected Ally as an option.
- Oh, and Barclays UK also allowed me to retain my UK accounts with a US address. With their PINsentry device, I can do most required tasks online. The only issue seems to be that their staff are not allowed to phone numbers outside the UK.

Steve_

The OP sounds like she's in a non-immigrant category and I don't think it's wise to use an on-line bank unless you're a US citizen or LPR. In fact I can't think of any that allow you to sign up on their website unless you are a US citizen or LPR.

The reason why is the USA PATRIOT Act, which amended the Banking Act to require banks to check the ID of aliens in person, essentially. Theoretically once you have an account, they can open other accounts for you online or over the phone but in reality they often want you to show up at a branch.

This is the reason to use a bank that has branches - the reason I recommended TD and BMO Harris is because they have a decent presence in Florida and although it's a massive generalization I find Canadian banks better at dealing with bureaucracy. Also being in Florida they have a lot of Canadians show up who want to open accounts, so they're used to dealing with foreigners.

jmood

What's wrong with Citibank?

GeoffM

Another -1 for HSBC. I used them for business banking and it was a PITA. The business support was shite; their business website was designed by amateurs with no HCI concept; and I had to do a 120 mile round trip to the nearest branch just to change my address which took all of 30 seconds to complete once they did the "Mr X is terribly busy at the moment and will be with you shortly" shenanigans.

Wells Fargo for our personal accounts has been great with a good website. Shite loans and mortgages departments though. For the latter they eventually sent a letter saying they couldn't pre-approve until we provided information we'd already provided -and sending that letter approximately 2 weeks after the 2nd loan company we'd approached had approved our loan.

Bob

Situation like that, you get your ID notarised and then send in the notarised letter.

Steve_

Notarization is irrelevant, the regulations are contained in 31 CFR 103.121

It lists various ways banks can verify who their customers are, including "non-US persons" but banks seem to treat it very conservatively indeed imx. Like I said, go to an on-line bank and try setting up an account, all the ones I've ever looked at require you to be a US person, i.e. US citizen or LPR.

It's just too much hassle for them I think, they can't be bothered. The regulations aren't really that helpful, e.g.

So what is the easiest way to comply with that? Don't open bank accounts for foreigners.

Which means your lowly-paid service rep has to be an expert on Bolivian passports and driver's licenses. Simpler option - don't open accounts for Bolivians. Plus the way it's written makes it sound as they have to see it, doesn't say anything about copies.

The fact that I'm able to quote the actual regulations should tell you how many times I've had this problem personally...

Bob

They don't need to be. They have a book that has all the passports/drivers licenses/currency from around the world, with their security features. It's massive and weighs a ton, but all they have to do is flick through to the country and then compare.

It's updated quarterly.

jxv73

I did open an online account with Ally while on an H1B visa. They use a credit report check as a way to verify your identity. So obviously if you just arrived you will have nothing on your credit report and they will not be able to verify.

Edited to add: I was of course a "US Person" in the sense of meeting the IRS Substantial Presence Test

Pulaski

You have a SSN. It all hinges around the SSN.

Everyone has a name, a date of birth, most people in the industrialized world have an address, but only USCs, PRs, and visa holders have an SSN. ..... When it comes to opening an on-line a/c, an SSN is golden.

RICH

Or, not having one is brown and smelly, and means you would have to get past several levels of management to get someone to even talk to you about opening an account in person, let alone online/remotely. (I would expect).

Pulaski

I did specify "on-line". Opening an account in person, with documents to show, is slightly different, with a different set of rules to follow.

jmood

Visa holders? How does that work?

jxv73

If you have a visa or immigration status that gives you employment authorization you can apply for an SSN.

jmood

Yes of course. Duh! Don't know how I forgot that.
Thanks.