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Address for US Bank Account

Address for US Bank Account

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Old May 24th 2013, 2:38 pm
  #31  
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Default Re: Address for US Bank Account

Originally Posted by Pulaski
I have no doubt that is true, but back when my card of choice was an Amex card, it was rarely not accepted - ALL major retailers and restaurants accepted it.
You are probably right. It is usually the smaller businesses that may not accept Discover or AMEX.
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Old May 24th 2013, 2:46 pm
  #32  
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Default Re: Opening bank account - IRS doesn't believe our reason for US address is sufficien

Originally Posted by MarylandNed
Yes, I didn't mean traveller's checks instead of electronic transfer. Normally when someone moves they take money in various forms. I meant traveller's checks instead of taking cash or a cashier's check (which was the suggestion I was responding to). If someone needs immediate access to cash then an electronic transfer isn't going to help if the receiving bank account hasn't been set up yet.
Unless someone is going to rent an apartment or buy or lease a car very quickly, credit cards along with a small amount of cash and/or debit card withdrawals is probably the best way to go. Usually very quickly, a non interest bearing account can be opened and an electronic transfer can be made for those purchases.
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Old May 24th 2013, 5:01 pm
  #33  
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Default Re: Address for US Bank Account

Originally Posted by LeavingLondon
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?
If you aren't resident, you should use a foreign address otherwise the IRS will get shirty about you using a US address on a W-8BEN. If you are resident, you fill in W-9 and yes you can use a US address.
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Old May 24th 2013, 5:03 pm
  #34  
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Default Re: Opening bank account - IRS doesn't believe our reason for US address is sufficien

Originally Posted by Michael
Unless someone is going to rent an apartment or buy or lease a car very quickly, credit cards along with a small amount of cash and/or debit card withdrawals is probably the best way to go. Usually very quickly, a non interest bearing account can be opened and an electronic transfer can be made for those purchases.
That's exactly the scenario the OP was suggesting...i.e. having the money ready for a rental deposit. An electronic transfer could take days to go through and the receiving bank account needs to be opened first.

Last edited by MarylandNed; May 24th 2013 at 5:08 pm.
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Old May 24th 2013, 5:06 pm
  #35  
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Default Re: Opening bank account - IRS doesn't believe our reason for US address is sufficien

Originally Posted by Michael
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.
Who will also ask you to fill in a W-8BEN or W-9 as this information must be collected, in person, by the bank. Not filing one is about the dumbest move you can make, because if you are a non-resident alien from a tax treaty country, the bank then has to perform NRA withholding of 30% on anything they pay you in interest. And then you have to file a 1040NR every year to recover it.

Read IRS publication 515.
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