Hi there,
Soon I'll be needing to open a bank account over here and don't have a clue where to start. I need one that I can send money back to my UK account with but other than that I don't think I need much.
I hoped I could get a HSBC one which would make it easy but it doesn't look like there is a branch in Maine or Mass so thats that out of the question.

Any suggestions are welcome,


Southy

You can Use HSBC on line

http://www.us.hsbc.com/1/2/3/persona...BUS_PPG0011078

I use Chase - they have been pretty good so far.

Get an account with xe.com for international transfers.

I too have found Chase to be good, although their coverage is patchy (like we're currently visiting DC and they claim not to have an ATM within 50 miles!).

Biggest problem was getting set up to transfer money to XE/Custom House for doing transfers to the UK. They have a very active anti-fraud department: almost any use outside my area, and any use to an online merchant in the UK triggers a flurry of texts/emails/robocalls to check it was legit. You may find this reassuring, annoying or both.

I sometimes feel guilty for banking with them, as they are one of the evil bankster corps but so far convenience has beaten conscience.

I've tried going on the Chase website but when I enter my zip code it redirects me as apparently there isn't one in Maine.

I also wasn't aware that XE.com did money transfers, is this easy and cheap to do?

Yeah XE is free, you have to set up a trading account which is a bit of a fiddle and takes a few days but once its done the transfers are painless enough.

Peoples united bank let me set up an account when i first got here with no social security number - I found them slightly useless though but they did offer most types of banking facilities. I think they have branches in Maine and all over New England - Nowhere else though,.

Would it have made anything easier? Not sure about that.

HSBC cards in the UK have the account number and sort code on the card and transferring money between 2 HSBC accounts online is instant so assuming thats still the same over here then I thought it'd be easier. I could be wrong though

You were assuming you could transfer funds between HSBC accounts in the US and the UK instantly?

oh that's a good one.

I asked if that was the case, you only had to say it isn't.

For the record, my Korean account used to go into my UK account instantly and that wasn't the same bank.

Thanks for your help

Don't take it personally. It's a dig at the American banking system which is generally horrid and backward. You'll be shocked how many checks you will end up writing. Even doing electronic transfers between your own accounts in different banks in the US can be a pain in the butt let alone to differnet people or different countries. Then there are all the fees...

Tell me about it! It's like going back in time about 25 years using a US bank and trying to organize direct debits and transfers!

There is no need to get sarcastic. From what you wrote I thought that was what you meant but the way you wrote it didn't make me 100% sure so I was asking a clarifying question. I couldn't say that it isn't the case (although I strongly suspect that it isn't) as I have never had a HSBC checking account in the US.

As a new member of the forum I'd recommend giving the appearance of biting the hand that feeds you or you may find that further advice tends to try up a bit.

The US still uses the same banking network system that was in place 25 years ago when all commercial banks were restricted to operating in one state only. Bank of America and Wells Fargo were restricted to California and Chase was restricted to New York and they all had slow land lines to communicate with the federal reserve and other banks for clearing and transferring funds so clearing and transferring of funds is done after hours using a batch clearing and transfer concept unless a wire transfer is done. The only difference today is that all branches of a bank have a central computer system with high speed links to branches so that intra bank transfers can be done immediately since clearing is unnecessary through the federal reserve clearing house.