goteamrosie

I want to open an account so I don't have to pay this painful exchange fee every time I withdraw. What docs do I need? All I have is my Passport!

Noorah101

My alien fiance opened a checking account at Wells Fargo using just his passport. At the time, he had no SSN yet, and it was not an issue. I had an existing account there, which I added him to. Then he opened his own separate checking account, and added me to it. He also used $500 to get a Wells Fargo secured credit card, to give him a start on building credit. After one year, they returned his $500 and gave him a real credit card with a $1,500 limit.

Many banks will tell you that you need a SSN. This isn't really true, so if you have a bank in mind who says this, see if you can talk to someone higher up.

Best Wishes,
Rene

goteamrosie

Excellent that's actually the bank I was thinking about (they're the only guys who could change my pounds into money!). I don't understand the whole credit card thing as I've never used one but thanks, good advice on building up credit.

Noorah101

Basically if you have no US credit history, your best bet is to put some money down on a secured credit card. You are basically using your own money, on credit. Use the card to charge a few items each month, pay it off each month (or pay a portion plus interest), always always always pay on time, and that way over the year you build up enough credit for the bank to trust you with a real credit card.

Rene

goteamrosie

I will be having alot of money moved back and forth from my own and other people's english bank accounts - which bank would best suit this kind of thing?

My fiance has a local bank which were unable to exchange my pounds and euros into dollars (should have done it at the airport i guess!) but I hear the Walls Fargo can send them to NY to get them changed. Anyway, main question is just which bank other expats are using, thanks for all the help

augigi

The best way is not to use a bank. Cheaper (no fees) and better exchange rate to use www.xe.com/fx

Bob

read the wiki....loads of banking info....and previous threads...

goteamrosie

Did he have to sign a W-9 or a W-8BEN form to enable him to gain interest on the account? This is what I have been asked to do (shame they didn't manage to tell me this when I was opening the damn thing!)

TracyTN

That is NOT required, Rosie. Sounds like your bank are being over the top on this. I had the same thing with my old bank (Regions) - I googled the W8 BEN form, then asked the guy what the form was for. He couldn't tell me what it was but yet was trying to force my hubby to sign it. Screw that.

I'm sure they've thrown the Patriot Act in your face by this point, yes? In which case you tell them that all the Patriot Act says is that they can allow a foreigner to have a bank account without an SSN so long as they practice due diligence by verifying the immigrant's documentation (passport, US visa, I 94, etc). They can even take photocopies of the documents they verified to cover themselves later (if need be). I suggested this to Regions, they still refused.

March your happy arse to another bank. Bank of America was glad to have our business - even without hubby's SSN.