HSBC UK to US
#1
Just Joined
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Joined: Aug 2005
Posts: 4
HSBC UK to US
I'm moving out to the US so I went into my local branch in the UK. They have put me in touch with their international banking service and are opening me an account in the US. Its going to be over an hour away from where I live so I wondered is that going to be a problem, it wouldn't in the UK but not sure in the US.
My other question is if anybody knew if it would help the typical credit history problems that everyone faces moving to the states, I'm *looking* to lease a car when I get over so I was hoping this may help. If anybody knows whether paying the full cost of the lease up front would also help then I'd appreciate it!
If anybody has moved their HSBC account to the US then let me know your thoughts!
Thanks
My other question is if anybody knew if it would help the typical credit history problems that everyone faces moving to the states, I'm *looking* to lease a car when I get over so I was hoping this may help. If anybody knows whether paying the full cost of the lease up front would also help then I'd appreciate it!
If anybody has moved their HSBC account to the US then let me know your thoughts!
Thanks
#2
Re: HSBC UK to US
Errr....open an account with a local bank would be easier as you'll end up getting hit hard using the atm's etc...unless you live near a branch, and it won't have any impact for improving your US credit history, you just won't have any.
HSBC are good though online, and with sending statements, I still have the account going from them anyway.
HSBC are good though online, and with sending statements, I still have the account going from them anyway.
#3
Joined: Feb 2002
Posts: 6,848
Re: HSBC UK to US
Originally Posted by Jenko
My other question is if anybody knew if it would help the typical credit history problems that everyone faces moving to the states, I'm *looking* to lease a car when I get over so I was hoping this may help. If anybody knows whether paying the full cost of the lease up front would also help then I'd appreciate it!
Thanks
http://www.carbuyingtips.com/lease.htm
You might be better off paying cash for an older car to start off with as your insurance is likely to be high. Where will you be living?
As for banking - will you be employed as soon as you arrive? Perhaps you could open an account with the same bank your employer uses. Otherwise just keep the HSBC account going for a few months until you become established, then you can change banks to a more convenient location. To be honest, we rarely go to a bank branch anyway as we do most of our banking online...just watch for the ATM fees. One bank (Washington Mutual) which is growing in the North East, advertises that it doesn't charge ATM withdrawal fees, but I haven't read the small print, perhaps they want a large continuous balance in the account at all times.
#4
Re: HSBC UK to US
Our HSBC branch 'recommended' us to Wells Fargo over here. They have some sort of arrangement together and Wells Fargo have more branches nationally than HSBC. HSBC sorted it all out and we basically got the cheque books and the satements with just having to sign a form.
Don't expect the fact you have been recommended will do you any favours though, all it got us was a bog standard bank account and it does NOTHING for your credit rating!
Don't expect the fact you have been recommended will do you any favours though, all it got us was a bog standard bank account and it does NOTHING for your credit rating!
#5
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Joined: Aug 2005
Posts: 4
Re: HSBC UK to US
I am actually moving out to California. I was thinking about a lease as I may only be over in the US for a couple of years and it seemed a good option.
I'd have the cash ready to be able to pay the all the lease upfront, would that make any difference?
Not sure what to do about the bank, might go with HSBC to get someting sorted and then see how things go.
I'd have the cash ready to be able to pay the all the lease upfront, would that make any difference?
Not sure what to do about the bank, might go with HSBC to get someting sorted and then see how things go.
#6
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Joined: Mar 2003
Location: Florida
Posts: 1,296
Re: HSBC UK to US
Originally Posted by Jenko
I am actually moving out to California. I was thinking about a lease as I may only be over in the US for a couple of years and it seemed a good option.
I'd have the cash ready to be able to pay the all the lease upfront, would that make any difference?
Not sure what to do about the bank, might go with HSBC to get someting sorted and then see how things go.
I'd have the cash ready to be able to pay the all the lease upfront, would that make any difference?
Not sure what to do about the bank, might go with HSBC to get someting sorted and then see how things go.
yes it would make a difference in that you would probably get one no problem- but why tie yourself into a lease - if you have that kind of money, buy a second hand car and sell it before you leave. Car leases (unless you're self employed) are bad news.
#7
Just Joined
Joined: Jun 2004
Location: UK to LA
Posts: 21
Re: HSBC UK to US
Originally Posted by Jenko
I'm moving out to the US so I went into my local branch in the UK. They have put me in touch with their international banking service and are opening me an account in the US. Its going to be over an hour away from where I live so I wondered is that going to be a problem, it wouldn't in the UK but not sure in the US.
My other question is if anybody knew if it would help the typical credit history problems that everyone faces moving to the states, I'm *looking* to lease a car when I get over so I was hoping this may help. If anybody knows whether paying the full cost of the lease up front would also help then I'd appreciate it!
If anybody has moved their HSBC account to the US then let me know your thoughts!
Thanks
My other question is if anybody knew if it would help the typical credit history problems that everyone faces moving to the states, I'm *looking* to lease a car when I get over so I was hoping this may help. If anybody knows whether paying the full cost of the lease up front would also help then I'd appreciate it!
If anybody has moved their HSBC account to the US then let me know your thoughts!
Thanks
As for a car!! if you have the cash buy one cash. You can get credit from the time you receive your Social Security card, but as in UK you will get stung with high interest rates, but it gets your foot on the ladder. We did that then got another car loan 6 months later and paid it off!
Jock