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Recommended bank accounts

Recommended bank accounts

Old Mar 20th 2017, 5:57 pm
  #91  
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Default Re: Recommended bank accounts

Originally Posted by LouisB View Post
Hey, so I am here.

I'll share my experience.

I found a cluster of banks in Tribecca Bowery, open 10am to 3pm on Sunday, I went down there about 10:30am.

I tried Chase and Capital One. Both refused me even after pushing it, because I don't yet have a US residential address. Disappointing!

Then I went to TD. Same story but I pushed it and it eventually spoke to a guy with a little more savvy.

He has opened me a TD premier and I got a card there and then and online banking working too.

They used a combination of my work address for US correspondence and UK address to get started.
Also not yet having a US phone number was an issue for communication too. UK cell number would not fit into their system.

I just need to update them on my SSN and US address in a few weeks when I have it. Phew.

Whole thing took many hours, finally left about 2pm.

Not sure if it was junior Sunday staff, I was not convinced anyone was that clued up.

Anyway, it was the US address that was an issue, SSN was not a problem.

Guess I can always open other accounts later once settled...

For now, just needed an account opened while in US since I'm back in the UK next week for a few weeks and no US account would have been a serious headache.
Probably lack of senior staff on the weekends. They have skeleton staff only. Senior staff would have known that the federal requirements are that you are able to prove your residential address and that it can be out of the country. However, maybe the banks you chose have a different policy?

Think about a credit union once you have your ssn set up. Mine is tiny with no local branches but their online service is fab. Much better than Wells Fargo. And they pay me for holding an account there....
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Old Mar 20th 2017, 6:15 pm
  #92  
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Default Re: Recommended bank accounts

Originally Posted by petitefrancaise View Post
Probably lack of senior staff on the weekends. They have skeleton staff only. Senior staff would have known that the federal requirements are that you are able to prove your residential address and that it can be out of the country. However, maybe the banks you chose have a different policy?

Think about a credit union once you have your ssn set up. Mine is tiny with no local branches but their online service is fab. Much better than Wells Fargo. And they pay me for holding an account there....
Yeah, probably. They were all quite junior to be fair, even their senior superiors.

Wondering whether to try open another during the week, even as a backup. Although don't want to over complicate things.

However, once back in the UK that's a long way to come back if they messed something up... maybe two accounts gives lower risk of not having a working one...
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Old Mar 20th 2017, 6:23 pm
  #93  
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Default Re: Recommended bank accounts

Originally Posted by LouisB View Post
Yeah, probably. They were all quite junior to be fair, even their senior superiors.

Wondering whether to try open another during the week, even as a backup. Although don't want to over complicate things.

However, once back in the UK that's a long way to come back if they messed something up... maybe two accounts gives lower risk of not having a working one...
You should be ok...
you have a temporary debit card? temporary checks? You know your routing number and account number? Have you set up online banking yet? I'd do that asap.
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Old Mar 20th 2017, 6:28 pm
  #94  
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Default Re: Recommended bank accounts

Originally Posted by petitefrancaise View Post
You should be ok...
you have a temporary debit card? temporary checks? You know your routing number and account number? Have you set up online banking yet? I'd do that asap.
Hi, thanks!

Yes before I left the branch I had a card (real I believe, not temporary), a form for direct deposit authorisation (like bacs?), online banking access which seems to work and details of account, including routing and account number.

In theory I'm all set, although I do remain nervous.

Also until direct deposit is in place, what will happen, will my employer send me cheques that I can't use while in the UK?
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Old Mar 20th 2017, 6:53 pm
  #95  
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Default Re: Recommended bank accounts

Originally Posted by LouisB View Post
Also until direct deposit is in place, what will happen, will my employer send me cheques that I can't use while in the UK?
You can deposit US$ checks in the UK - your bank will charge you a fee and the exchange rate may be middling, but it will still work. Or you can pay it into your new account - many banks now have apps that allow you to deposit a check via a photo from your phone. Very handy!
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Old Mar 20th 2017, 7:02 pm
  #96  
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Default Re: Recommended bank accounts

Originally Posted by LouisB View Post
Hi, thanks!

Yes before I left the branch I had a card (real I believe, not temporary), a form for direct deposit authorisation (like bacs?), online banking access which seems to work and details of account, including routing and account number.

In theory I'm all set, although I do remain nervous.

Also until direct deposit is in place, what will happen, will my employer send me cheques that I can't use while in the UK?
I'd ask HR to make the direct deposit - you have all the details you need - the routing number and the account number.
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Old Mar 20th 2017, 7:34 pm
  #97  
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Default Re: Recommended bank accounts

Originally Posted by petitefrancaise View Post
I'd ask HR to make the direct deposit - you have all the details you need - the routing number and the account number.
Thanks. Apparently I can enter that into the system.

I'm just waiting for my login to work first, bit stuck without that.

Still, I got a desk, phone, and PC already. Making progress...
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Old Mar 20th 2017, 10:44 pm
  #98  
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Default Re: Recommended bank accounts

Originally Posted by petitefrancaise View Post
Probably lack of senior staff on the weekends. They have skeleton staff only. Senior staff would have known that the federal requirements are that you are able to prove your residential address and that it can be out of the country. However, maybe the banks you chose have a different policy?
It's probably a case of just being lazy. The backend system is pretty much the same for a lot of banks and a lot of them aren't geared up for foreign addresses or anything "different", which needs to be manually entered by other means, which usually means getting a supervisor to do it and/or system type support on the phone.
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Old Mar 21st 2017, 2:16 pm
  #99  
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Default Re: Recommended bank accounts

Out of curiosity I went to another chase on Monday and spoke to a more senior guy. He said it was right, bank's policy dictates US address.
Maybe they tightened the rules up lately and not all banks equal in this respect of course.
Not to worry, at least I got an account opened then, I'll review and open what I need/want once setup and living here properly

Anyone else stuck like this, try TD if you don't have luck elsewhere, but you also have to be pretty insistent and maybe a bit lucky who you deal with.
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Old Mar 21st 2017, 5:48 pm
  #100  
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Default Re: Recommended bank accounts

I wonder if it would work with a Russian address?

https://www.theguardian.com/world/20...-uk-banks-said
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Old Mar 21st 2017, 9:31 pm
  #101  
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Default Re: Recommended bank accounts

Nice work Louis. I also successfully managed to opened an account, just yesterday in fact!

My office is in mid-town so I went to the local Capital One on 6th Ave but they refused me for the exact same reason as you - no proof of US residential address - they even suggested I provide a bank statement sent to a US address as proof, which I thought was pretty amusing given what I was there for!

Next I went to a Bank of America branch over on 8th and was lucky enough to end up with a Merrill Lynch financial adviser who really knew his stuff and was super helpful. He had me up and running with a couple of no-fee accounts, online banking and a debit card (temporary) in just over an hour.

He also suggested that as they have my company on file he should be able to get me a credit card once I have my SSN. All I need to do is provide him my offer letter and he advised the credit limit would be about 10% of my annual salary - will let you know how I get on with that as it sounds too good to be true after some of the stories I've read here!

Thanks everyone for your help here
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Old Mar 23rd 2017, 1:47 am
  #102  
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Default Re: Recommended bank accounts

Originally Posted by bartholemues View Post
Nice work Louis. I also successfully managed to opened an account, just yesterday in fact!

My office is in mid-town so I went to the local Capital One on 6th Ave but they refused me for the exact same reason as you - no proof of US residential address - they even suggested I provide a bank statement sent to a US address as proof, which I thought was pretty amusing given what I was there for!

Next I went to a Bank of America branch over on 8th and was lucky enough to end up with a Merrill Lynch financial adviser who really knew his stuff and was super helpful. He had me up and running with a couple of no-fee accounts, online banking and a debit card (temporary) in just over an hour.

He also suggested that as they have my company on file he should be able to get me a credit card once I have my SSN. All I need to do is provide him my offer letter and he advised the credit limit would be about 10% of my annual salary - will let you know how I get on with that as it sounds too good to be true after some of the stories I've read here!

Thanks everyone for your help here
Great stuff, glad you got it sorted,

I'm also in midtown and banks are all over the place. I didn't realise many are open Saturday and Sunday, whereas web had lead me to believe not many were.

If think if TD had failed I'd have gone to Bank of America next.

One good thing about TD is you get a real working debit card there and then. Not a temp one, which is good because I'm back in the UK very soon.

Today I managed to get payroll to accept the direct deposit for this account. Stage 1 mission accomplished!

I had spoken to a guy at capital one on 59th over phone while I was still in the UK who said he could do it for me as he knows the company but... now I have an account for DD I'm inclined to leave it as-is and just open what I really need/want later on once we're back with a perm US address.

I'm enjoying NYC and midtown, now just got to work out where to live...
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Old Apr 5th 2017, 10:04 pm
  #103  
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Default Re: Recommended bank accounts

Originally Posted by bartholemues View Post
He also suggested that as they have my company on file he should be able to get me a credit card once I have my SSN. All I need to do is provide him my offer letter and he advised the credit limit would be about 10% of my annual salary - will let you know how I get on with that as it sounds too good to be true after some of the stories I've read here!
So I got my SSN last week and went in and submitted the CC app today. Just my luck they literally updated their rules this week and removed my company from their preferred list! Regardless, they were still able to get my application approved but with the credit limit was closer to 1% than 10% of my salary! Can't complain about their service in providing a regular cashback card just over two weeks after I arrived though.

Getting landlord approval for our apartment application was a bit of a PITA but all in all things have been easier than I was expecting
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