sibsie

Quickie about opening bank accounts in the US when you're entering on a K1 Visa.

My understanding is that you have to have a SSN now to open a bank account in the US.

Does anyone else have any experience of this? I'd like to be able to open my own account and transfer funds before I headed out there. I also have a UK income that would need to be sent somewhere too.

katina

My husband opened a bank account with Bank of America (a checking acct.) the day after he arrived on a K-1, and they didn't give him any problems. I've heard of many people without SSNs getting bank accounts at BOA locations.

SecretGarden

Hi,
Do a search on here for posts by "Scout" who knows the ins and outs of the banking issue......you might get help there. YOu can set up an account with a Tax ID no. instead of SSN. See what you come up with---she had good suggestions awhile back.


~SG

sibsie

Thanks. I know it seems like jumping the gun a bit at the stage I'm at, but with exchange rates to think of as well, I'd rather that was just one less thing to worry about.

Karen D

Hehehe... a new friend in the US, within easy driving distance and with cash too - wonderful!

First drink is on you Sibs!!!

sibsie

Ahhh thanks Karen. That's just so, er, it's so Karen of you!

SecretGarden

Nope, with me being in the running for the Most Anal Retentive member of the group, it doesn't seem like jumping the gun at all. Plans are good. The plan is your friend!

~SG

Squire

In article <[email protected]>, sibsie <member17406@b
ritish_expats.com> writes
    >Does anyone else have any experience of this? I'd like to be able to
    >open my own account and transfer funds before I headed out there. I
    >also have a UK income that would need to be sent somewhere too.

Consider keeping open a UK bank account and make it internet accessible
(if not so already). Useful perhaps for continuing to receive any UK
income - possibly including a UK tax rebate after April 5th - and to
make payments for gifts or other obligations to UK sources.

--
squire
Those are my principles. If you don't like them I have others. (Groucho)

Noorah101

SG - I wouldn't be so hasty with that award....LOL I can think of at least a dozen of us just like that here!! :-)) Oh, I just realized you said "in the running"....ok then....LOL

Rene

cmstrick

i was able to open a joint account for my fiance under my main account....he was not here at the time nor did he have a SS#....he has his own visa check card

you might not be able to do it alone, but your fiance can probably help you

we bank at Wachovia

FlyergirlUK

With Wachovia also.
I had to present some ID, in this case my passport when my fiance opened a joint account for us.
I had/have no SSN, (yet, just waiting to get it in my married name).

sibsie

Thanks people. It's amazing the things that manage to wake me up at 3am!

katie4998

lol...I hear ya on that one, Sibsie...I'm the queen of Stressing-Over-the-Little-Things...except, in my case, it's amazing the things that keep me from falling asleep until 3 am! it's like my brain just won't turn off, no matter how much I beg it to

Hansey

I'll put in my two cents on this topic, since I'm a banker.

You might want to research some banks first, sibsie... I know some of the people who have replied said they had no problems opening account without SSN's at various banks, however, they didn't say *when* they opened them. The reason that's relevant is because one part of the "USA PATRIOT ACT" greatly affected banks in that they have to "know their customers". This as well as the recently revised "Bank Secrecy Act" basically forbids banks from opening up accounts without a Tax ID Number (SSN).

The new regulations under the Patriot Act went into effect October 1st of this year, just two months ago, so if the folks who replied opened their accounts prior to then, they may have made it in under the gun.

Now, that said, that isn't to say that maybe there aren't banks that will open the account for you. I know if you came to my bank, we wouldn't do it. If other banks do, they may get in trouble with their regulators for doing so, but that's not really your problem. Some banks may take the risk based on your promise to provide your SSN when you have one.

Good luck!

sibsie

Thanks so much Hansey. That's more or less what my financial advisor said, but he's in Europe so couldn't quote the actual chapter and verse for me.

I've also got a feeling that if I do manage to get a bank account in my own name, that I'll certainly be getting no deals on rates and commission charges.

To utilise your expertise for a min. Would I even be able to be a co signatuary on my fiance's bank account so at least I could transfer some money over? I'm not too concerned about rates as I think the Euro will stay as strong as it is for the foreseeable and my UK income will always be subject to currency fluctuations.

I'm now glad I worried about this.