John Murray

We are living in UK, but make regular payments to school loans in USA. Currently we arrage a foreign draft in US$ each month, but have been looking into opening a US bank account. Has anyone successfully opened a bank account in US with a UK address?

Do we need to wait until our next visit to US or can this be done online?

Patrick

You cant do it online unless you have a SSN, we opened one online (actually over the phone as online wont accept foreign addresses) and the only reason we could do it was because Ellen had a SSN, I was not allowed to do anything with the account until I sent them proof of my gc and then ssn. The woman on the phone said that if you had just walked in off the street with a passport there would not have been a problem.

Good Luck

Patrick

John Murray

Wife is US citizen, so SSN is no problem. Although I guess it would have to be in her name only, instead of a joint account (me UK citizen wiht no US SSN)
Any banks in particular or do most allow this?
Thanks.

NC Penguin

How about approaching a few of the big big banks in the state the school is located in?




NC Penguin

Patrick

The bank we used was Wachovia, but all big banks will have the same rules (did Sarah just something to that effect?) and as long as you have a SSN you should be golden. As I say ours was joint (because I we where emmigrating) but I had no access to the account until I could show I was legally moving to the US so it looks like it would just in yours wifes name.

Patrick

Pulaski

Try Citibank. They have British branches and a huge network of branches across America. I hear that they'll let you open a US$ account in the UK that'll give you access to their US banking network.

When it comes to opening an account in the US it has just become much harder, even if you are a US resident, because of the recently implemented USA PATRIOT act, that defines the very high level of information that you have to be able to prove before you are deemed legally able to open an account.

simon bland

Wachovia, has at least one branch in London, possibly still trading as First Union, may be worth giving them a try

simon bland

Wachovia, has at least one branch in London, possibly still trading as First Union, may be worth giving them a try

Pulaski

I think that the Wachovia branch has always been Wachovia in London, but no, don't bother trying to contact them, it is a commercial and investment banking operation only, there is no retail "shop front" and there is no way for them to provide service to private individuals.

This is also true of many banks from the US, Canada, and around the world - they have a London branch, but only as a wholesale/ trading office to take advantage of the London financial and money markets, not as a customer service center.

frrussre

What about HKSB, they have branches in UK & USA.
Reg. FRank R.

Pulaski

HSBC?

They do have branches here and in the UK, but its US branch network is almost entirely confined to New York state, plus two or three in Florida, and in California, and I think one or two in Pennsylvania.

Patrick

Surely as banks are governed by the laws of the country they are in and not by the bank itself it is not in your interest to open an account in the UK with an American bank. It is the same as opening an account with a different bank. You cannot do things inter-bank internationally surely.

Just a thought

frrussre

John, what if you open a $ account at your bank UK. Then can send $ checks to pay your bills USA.

Barclays Bank, does or did have $ accounts. I had one for business many years ago. Though not sure if you can get one for personel use. Or if they would want a large minimum of cash.
Reg. Frank R.

Pulaski

You are thinking along the right lines, but there are banks that have international business, either through a branch (an office held within the same legal entity), subsidiary (separate legal entity), or affiliate (typically some sort of joint venture, used in countries that have restrictive banking laws that prohibit overseas ownership of a bank, e.g. many countries in the Middle East, and Africa) that can and do offer international banking.

I know that Citibank offers US$ accounts in the UK that can be accessed in the US, Germany and the Far East, and HSBC does too. There may be others, but I can't think of any other American banks that have UK retail branches, or vice versa.

Pulaski

American banks will cause problems in collecting on a US$ cheque drawn on a bank outside the US/ Canada. They will charge for the service and it will take time.

A US$ account drawn on a US bank would work out much easier, if it is possible to open the account!