Opening a bank account help
Jun 24th 2015, 10:56 pm
#46
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: Opening a bank account help
Other than slagging them off for being "awful", do you have anything constructive to say? 
I am not getting a kickback from Wells for recommending them and would not do so were I not confident that others will have the same positive experience I have had. I have been more than happy, delighted even, with the many years service I have had from them as a customer of the Wells Fargo bank and mortgage businesses.
I am not getting a kickback from Wells for recommending them and would not do so were I not confident that others will have the same positive experience I have had. I have been more than happy, delighted even, with the many years service I have had from them as a customer of the Wells Fargo bank and mortgage businesses.
Jun 25th 2015, 1:43 am
#47
SUPER MODERATOR
Joined: Dec 2005
Posts: 88,023
Re: Opening a bank account help
If it is a violation of the site rules the appropriate action will be taken.
Jun 25th 2015, 1:49 am
#48
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Re: Opening a bank account help
Mmm anyway, the USA PATRIOT Act doesn't require they check for the SSN specifically but the provision it inserts into the Banking Act does require financial institutions to have a "customer identification program" to positively identify customers which is why it can be very tricky to open an account with an online bank if you're not a US citizen/LPR (because then you're a "US person" as described in the Banking Act - we had this argument before, the definition in the Banking Act is NOT the same as in the Internal Revenue Code, which includes a person resident in the US for tax purposes). Usually an SSN is one of the things they ask for, because it goes on the W-8BEN or W-9, although W-8BEN can be used by the FI without an SSN or an ITIN.
So the OP is L-2 anyway, and as such can get an SSN, although he's got to file an I-765 and get an EAD first.
From that point on, if you're going to be resident in the US for tax purposes, the process for opening a bank account is the same as for any American really, just go into the bank and sign a W-9.
If you're going into a bank in person they'll usually let you get a bank account and come back with the SSN to update them when you've got it.
So the OP is L-2 anyway, and as such can get an SSN, although he's got to file an I-765 and get an EAD first.
From that point on, if you're going to be resident in the US for tax purposes, the process for opening a bank account is the same as for any American really, just go into the bank and sign a W-9.
If you're going into a bank in person they'll usually let you get a bank account and come back with the SSN to update them when you've got it.
Jun 25th 2015, 1:53 am
#49
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: Opening a bank account help
IIRC this was the order of getting things done soon after arrival with L2
Bank Account
Rental house
electricity/internet/phone/water
SSN
Driving license
then the EAD came along, then all the Green card palaver....
Jun 26th 2015, 9:35 pm
#51
Forum Regular
Joined: Jan 2015
Location: UK now USA later this year (all being well!)
Posts: 32
Re: Opening a bank account help
well, you can use the search facility for currency exchange on this site...it's been covered a lot.
By setting up an account with a service like worldfirst you can transfer your money between banks in different countries very quickly and cheaply. You usually get a better exchange rate and it happens faster. Also, no bank charges!! Worldfirst charges about £10 per transfer which is cheaper than the banks. If you think you will be transferring large amounts of money this is definitely the best way to go. BUT you do have to do it in advance since they verify you and your bank account. Also make sure that whichever service you use is allowed to conduct business in the state to which you are moving.
By setting up an account with a service like worldfirst you can transfer your money between banks in different countries very quickly and cheaply. You usually get a better exchange rate and it happens faster. Also, no bank charges!! Worldfirst charges about £10 per transfer which is cheaper than the banks. If you think you will be transferring large amounts of money this is definitely the best way to go. BUT you do have to do it in advance since they verify you and your bank account. Also make sure that whichever service you use is allowed to conduct business in the state to which you are moving.
Jun 26th 2015, 9:45 pm
#52
Lost in BE Cyberspace
Joined: Mar 2010
Location: Phoenix, AZ
Posts: 8,106
Re: Opening a bank account help
Now, with Worldfirst,how much are you allowed to transfer in one go? I opened an xe.com account today as I'd heard good things about them and it will only let me transfer around $8,000 which won't cover all of my savings by the time I get there... I read that staggering transfers will be deemed suspicious?
Jun 26th 2015, 10:22 pm
#53
Forum Regular
Joined: Jan 2015
Location: UK now USA later this year (all being well!)
Posts: 32
Re: Opening a bank account help
Anyone know the default limit on Worldfirst? Also, Transferwise doesn't appear to have a limit?
My bank apparently allows a maximum of £20,000's worth of payments a day so I think I'll be fine on that end of things haha!
Jun 27th 2015, 2:17 am
#54
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: Opening a bank account help
Worldfirst's limit is much higher than $10k. The issue for us came with having a 24 hour delay before the money was allowed to leave France.
