Banking

Old Apr 22nd 2008, 3:48 pm
  #1  
Rosie
Thread Starter
 
goteamrosie's Avatar
 
Joined: Feb 2008
Location: Manchester :)
Posts: 117
goteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to all
Default Banking

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!
goteamrosie is offline  
Old Apr 22nd 2008, 3:53 pm
  #2  
MODERATOR
 
Noorah101's Avatar
 
Joined: Apr 2003
Location: Phoenix, Arizona
Posts: 58,194
Noorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond repute
Default Re: Banking

Originally Posted by goteamrosie View Post
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!
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
Noorah101 is offline  
Old Apr 22nd 2008, 3:56 pm
  #3  
Rosie
Thread Starter
 
goteamrosie's Avatar
 
Joined: Feb 2008
Location: Manchester :)
Posts: 117
goteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to all
Default Re: Banking

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.
goteamrosie is offline  
Old Apr 22nd 2008, 4:08 pm
  #4  
MODERATOR
 
Noorah101's Avatar
 
Joined: Apr 2003
Location: Phoenix, Arizona
Posts: 58,194
Noorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond reputeNoorah101 has a reputation beyond repute
Default Re: Banking

Originally Posted by goteamrosie View Post
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.
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
Noorah101 is offline  
Old Apr 22nd 2008, 11:35 pm
  #5  
Rosie
Thread Starter
 
goteamrosie's Avatar
 
Joined: Feb 2008
Location: Manchester :)
Posts: 117
goteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to all
Default Re: Banking

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
goteamrosie is offline  
Old Apr 23rd 2008, 2:28 pm
  #6  
BE Forum Addict
 
Joined: Sep 2006
Posts: 1,966
augigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond reputeaugigi has a reputation beyond repute
Default Re: Banking

The best way is not to use a bank. Cheaper (no fees) and better exchange rate to use www.xe.com/fx
augigi is offline  
Old Apr 23rd 2008, 11:56 pm
  #7  
Bob
BE Site Lead
 
Bob's Avatar
 
Joined: Aug 2004
Location: MA, USA
Posts: 91,772
Bob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond repute
Default Re: Banking

read the wiki....loads of banking info....and previous threads...
Bob is offline  
Old May 22nd 2008, 5:44 am
  #8  
Rosie
Thread Starter
 
goteamrosie's Avatar
 
Joined: Feb 2008
Location: Manchester :)
Posts: 117
goteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to allgoteamrosie is a name known to all
Default Re: Banking

Originally Posted by Noorah101 View Post
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
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!)
goteamrosie is offline  
Old May 22nd 2008, 3:27 pm
  #9  
Instigator of the Post
 
TracyTN's Avatar
 
Joined: May 2008
Location: Nashville, TN
Posts: 501
TracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to beholdTracyTN is a splendid one to behold
Default Re: Banking

Originally Posted by goteamrosie View Post
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!)
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.
TracyTN is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.