OldWindsor

Hi all,

Living in NJ (Maplewood) on an L1 and L2 visa. I got an HSBC premier account pretty easily and earnings mean that its free.
Looking for recommendations for a US bank for my wife - Not currently working but will do once settled. Key things are that its easy for me to transfer money to the account and it doesn't come with fees!

Pulaski

Is there a good reason why you haven't added your wife to your HSBC account?

If you can find free banking it is most likely going to be linked to a minimum monthly deposit requirement, and the alternative might be a credit onion, but that may mean that transfers are not as easy as with a decent-sized bank. If you go down that route, writing your wife a check may be the easiest route to make transfer.

robin1234

We have free banking, and the checking account gets a decent rate of interest too. Requirements are at least one regular deposit each month, and at least ten retail transactions per month with the debit card. We’ve banked with them for thirty years, it’s the local S&L. Never had any problems with transfers or unusual requests either. Also the bank president and the branch manager are right there for a chinwag if necessary.

petitefrancaise

the usual requirement for a regular bank account is a direct deposit ( electronic transfer). It doesn't have to be a huge amount, I think WF is $500 per month or use the debit card at least 10x.
Credit union might be the way to go? I have one and it's just as good (or bad) as the WF one for transfers etc. They're all usually tied into an atm network so that won't be an issue and of course cashback at the supermarket is easily done if you want smaller amounts of cash.
The big advantage with my credit union is all atm fees refunded when abroad and no fees for using them. WF is crap for that.
Your wife will need her SSN to open the account . Advancial is a big one for new arrivals , I recommend it all the time and they may also get your wife her own credit card so she can start building her own credit history. The spouse credit score is often forgotten about.

Kooky.

I'm not working but Bank of America gave me my own fee-free account even before I got my SSN - I just have to keep a (small) balance in it. (Obviously they gave me this because my husband puts a decent amount into their hands every month but it can be done.)

Owen778

PF - We use Advancial, since we were with Chase before but they don't have branches in Alaska. We're happy enough with them, but they only have branches in Texas, Oklahoma and Alaska. Possibly also Louisiana. I wouldn't recommend them to someone in NJ.

To the OP - HSBC have consistently bad reviews in the US, but if you want to stick with them I would set up your wife's accounts there too or just add her to yours. If you don't want to stick with them, this is the link I usually provide: https://www.jdpower.com/business/pre...sfaction-study
Scroll down to the graph for Mid-Atlantic for NJ information.

LouisB

I think capital one checking is free, I don’t recall seeing or being charged. There might be a min balance threshold but I just keep a few $k there and so never noticed. Their mobile app is very good too. They also have a good savings account for future reference.

markh

BofA -- Will open a checking account without SSN.

Also the app is excellent.

LouisB

TD bank opened me an account without ssn, so long as you can meet their min balance you can also get free banking and atm fees refunded too. Another option. Personally if capital one will let you open an account, I’d consider starting there I think, as their savings and card options are good for the future and it is all very well integrated.

sherbert

I've had no issues with credit unions and opened an account before I had an ITIN/SSN. The only issue with CUs is that their branches are localised so if you're travelling or you move you will have an issue as you won't be able to visit the branch in person. My CU offers free money withdrawal from any 7-11 ATM and you can always get cash back at supermarkets etc. I even now have a CU credit card with a very high credit limit and a good points system and I pay no fees at all.

Pulaski

There is no law or regulation in the US that requires you to have an SSN to open a non-interest earning bank account, although some banks might set their own requirement, and obviously most people in the US do have an SSN. The only requirement, as specified in the USA PATRIOT Act, is that banks much obtain and verify four pieces of information to open an account for a new customer - name, date of birth, address, and "a government issued ID number" - while an SSN is the easiest way for most people to meet the last requirement, not only is an SSN not necessary, the "government issued" requirement does not specify that it must be the US government, in other words a non-US passport number meets the requirement, as do other government issued documents which include unique identifying numbers, such as a driving license, a Mexican Matricula Consular card, etc.

LouisB

While SSN not required for checking accounts (is for savings) I actually got turned away from several banks and the big ones before TD agreed. I think it depends to a degree on the manager. Not initially having a US residential address doesn’t help either, or any other US ID, like a catch-22. But you will get one opened, just try a few and explain the situation...

Pulaski

I think the problem is that most low-end customer service bank staff lack the knowledge and experience, even of their own bank's actual policies and procedures. My usual recommendation is, if turned down, ask to speak to a supervisor, and if necessary use the above wording (or as much of it as you can remember) to explain to them why you meet the legal requirements to open an account, .... and if you still have no joy, to give up and try another bank!

LouisB

yeah I agree. However I’d say that extends to managers as I argued with several and no joy. So I moved on and tried many until one said yes. It was the big banks that seemed worse, Chase for example just had no empathy or time to listen and try to help deal with it. Maybe they just want safe, simple business. I don’t know, but it can be done and as you say, there is nothing wrong with it. Just have to find the bank that has time, understanding and agrees to do it.

Pulaski

There are a number of possible theories and explanations, bank policy or staff ignorance, as I mentioned above, or lack of experience of opening accounts for new immigrants, a bad experience (being critized for opening an account without an SSN) after opening accounts for new immigrants, just wanting an easy life despite the bank having procedures that would allow an account to be opened, etc.