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Address for US Bank Account

Address for US Bank Account

Old May 23rd 2013, 4:01 pm
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Default Address for US Bank Account

Sorry to jump on this thread but we are coming to the South Bay area next week and whilst there want to open a bank account. Can we use my husband's work address as we won't have a residential address at that point and also, is it advisable to take cash (dollars) with us to put into the account (was going to bring just under $10,000 cash to put into the account that way, if we need to release funds for rental security deposit etc we have the money ready?
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Old May 23rd 2013, 4:11 pm
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Default Re: Opening bank account - IRS doesn't believe our reason for US address is sufficien

Originally Posted by LeavingLondon View Post
Sorry to jump on this thread but we are coming to the South Bay area next week and whilst there want to open a bank account. Can we use my husband's work address as we won't have a residential address at that point and also, is it advisable to take cash (dollars) with us to put into the account (was going to bring just under $10,000 cash to put into the account that way, if we need to release funds for rental security deposit etc we have the money ready?
Initially open a non interest bearing checking account and you shouldn't have any problems since there is no taxes that are due so no need for a permanent address. If the bank wants you to fill out form W-8BEN, ask for the manager or go to another bank.

Cash is fine if you are comfortable carrying that much cash with you or you could carry little cash and primarily use your credit cards and transfer funds using one of the low commission good exchange rate currency transfer services such as XE.COM.
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Old May 23rd 2013, 4:14 pm
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Default Re: Opening bank account - IRS doesn't believe our reason for US address is sufficien

Originally Posted by LeavingLondon View Post
Sorry to jump on this thread but we are coming to the South Bay area next week and whilst there want to open a bank account. Can we use my husband's work address as we won't have a residential address at that point and also, is it advisable to take cash (dollars) with us to put into the account (was going to bring just under $10,000 cash to put into the account that way, if we need to release funds for rental security deposit etc we have the money ready?
I would get a cashier check/bank draft from your UK bank rather than carry cash, from the safety aspect. The bank may ask to see source of funds so bring your bank statements to show where the funds are coming from, if you do carry cash. Address shouldn't be an issue.
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Old May 23rd 2013, 4:18 pm
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Default Re: Address for US Bank Account

Originally Posted by LeavingLondon View Post
Sorry to jump on this thread but we are coming to the South Bay area next week and whilst there want to open a bank account. Can we use my husband's work address as we won't have a residential address at that point and also, is it advisable to take cash (dollars) with us to put into the account (was going to bring just under $10,000 cash to put into the account that way, if we need to release funds for rental security deposit etc we have the money ready?
I have moved your post and subsequent posts into a new thread.
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Old May 23rd 2013, 4:25 pm
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Default Re: Address for US Bank Account

Originally Posted by Jerseygirl View Post
I have moved your post and subsequent posts into a new thread.
Sorry and thank you!
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Old May 23rd 2013, 4:28 pm
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Default Re: Address for US Bank Account

Originally Posted by LeavingLondon View Post
Sorry and thank you!
You're welcome.
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Old May 23rd 2013, 6:11 pm
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Default Re: Address for US Bank Account

Thanks for the replies so far. Re banks, I was recommended Chase for a current account and Allied Bank (which i think is online only) for a savings account. Does anyone have any views on this?
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Old May 23rd 2013, 6:59 pm
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Default Re: Address for US Bank Account

Originally Posted by LeavingLondon View Post
Thanks for the replies so far. Re banks, I was recommended Chase for a current account and Allied Bank (which i think is online only) for a savings account. Does anyone have any views on this?
That's probably Ally Bank; not necessarily a bad bank, but after bring spun off by the soon to collapse GM, back in 2008 it has never been on a stable footing. I am certain it will eventually be taken over, and there are periodic rumours to that effect.

It really depends where you are living as to which of the big banks to go with as they don't have branches in all states. For example Chase has none in Virginia or North and South Carolina, Wells Fargo has none in Massachusetts or Kentucky, Ohio or Michigan, but has scored consistently highly on independent customer satisfaction surveys for many years.

Last edited by Pulaski; May 23rd 2013 at 7:36 pm.
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Old May 23rd 2013, 7:20 pm
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Default Re: Address for US Bank Account

Originally Posted by Pulaski View Post
That's probably Ally Bank; not necessarily a bad bank, but after bring spun off by the soon to collapse GM, back in 2008 it has never been on a stable footing. I am certain it will eventually be taken over, and there are periodic rumours to that effect.

It really depends where you are living as to which of the big banks to go with as they don't have branches in all states. For example Chase has few branches on the east coast (none in Virginia or North and South Carolina), Wells Fargo has none in Massachusetts or Kentucky, Ohio or Michigan, but has scored consistently highly on independent customer satisfaction surveys for many years.
Chase is huge in the north east coast...NJ/NY/CT. Looks like they do have a number of branches in Virginia, SC and NC.

https://locator.chase.com/sitemap/state/

Last edited by Jerseygirl; May 23rd 2013 at 7:23 pm.
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Old May 23rd 2013, 7:31 pm
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Default Re: Address for US Bank Account

Originally Posted by Jerseygirl View Post
Chase is huge in the north east coast...NJ/NY/CT. Looks like they do have a number of branches in Virginia, NC and SC. ...
Those are ATM's, not branches - and the link for the Norfolk, VA ATM appears to be broken, ... or the ATM has been removed.. The closest BRANCH to me is in Kentucky.

Last edited by Pulaski; May 23rd 2013 at 7:35 pm.
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Old May 23rd 2013, 7:47 pm
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Default Re: Address for US Bank Account

Originally Posted by LeavingLondon View Post
Thanks for the replies so far. Re banks, I was recommended Chase for a current account and Allied Bank (which i think is online only) for a savings account. Does anyone have any views on this?
The US banking system is not as good as the UK for several reasons. It is slower for bill pay (3 days unless you pay fees), you usually can't directly transfer money between certain types of accounts in different financial institutions that you own, and using an electronic transfer to someone else is usually a paper check.

Most if not all banks have electronic bill pay.

For online, I prefer Capital One or Capital One 360 (was ING Direct). Capital One allows for transfers between any financial institution (bank, brokerage, etc.) and any type of account (checking, savings, or money market). Capital One 360 allows for electronic transfers to someone else.
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Old May 23rd 2013, 7:49 pm
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Default Re: Address for US Bank Account

Originally Posted by Jerseygirl View Post
Chase is huge in the north east coast...NJ/NY/CT. Looks like they do have a number of branches in Virginia, SC and NC.

https://locator.chase.com/sitemap/state/
It is also big on the West Coast since it bought Washington Mutual and those branches became Chase.
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Old May 23rd 2013, 8:19 pm
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Default Re: Address for US Bank Account

We bank with chase not had any problems (yet). Really like the Chase British Airways credit card, use it to build up points for upgrades and domestic flights within the US and we get one free companion flight per year which we use for going back to the UK.
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Old May 23rd 2013, 8:30 pm
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Default Re: Address for US Bank Account

Originally Posted by Michael View Post
The US banking system is not as good as the UK for several reasons. It is slower for bill pay (3 days unless you pay fees), you usually can't directly transfer money between certain types of accounts in different financial institutions that you own, and using an electronic transfer to someone else is usually a paper check.

Most if not all banks have electronic bill pay.

For online, I prefer Capital One or Capital One 360 (was ING Direct). Capital One allows for transfers between any financial institution (bank, brokerage, etc.) and any type of account (checking, savings, or money market). Capital One 360 allows for electronic transfers to someone else.
thanks all. I guess I'm going to have to retrain my hand to start writing again as I have a feeling I'm going to be writing a lot of cheques. There's a Chase branch in San Jose and I heard they have quite a few ATMs in the area (link was broken so couldn't check it).

I'll check out Capital One/Capital One 360 too. Am so used to going online and transferring money to friends/services (and for no fee) etc whenever I want, it'll be strange not being able to do that any more. Hey ho. At least it'll be sunny whilst I'm writing my cheques/checks.

I'll also sort out a Global AMEX transfer once I have a residential address.

Or am I mad having 3 separate cards from 3 different banks? At home all my regular banking is with HSBC (credit and debit cards) plus I have a BA AMEX Card which is paid off in full by direct debit each month so it's all really simple and easy to manage.

As an aside, my kids' school have just introduced a Parent Pay service where you can now pay for school trips/lunches etc via a secure website at a click of the button (no more faffing around to get their account number and needing reminders of how much to pay - it's all listed on your individual homepage - a menu of what you owe and why). Am guessing you don't have that (yet) in the States?
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Old May 23rd 2013, 8:34 pm
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Default Re: Address for US Bank Account

Originally Posted by Jerseygirl View Post
Chase is huge in the north east coast...NJ/NY/CT. Looks like they do have a number of branches in Virginia, SC and NC.

https://locator.chase.com/sitemap/state/
They're not in MA/ME though...and we've got a south bay too....but I'm guessing the OP means CA?
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