Setting up a US bank account
 

Hi folks,

I was wondering how others went about setting up a US bank account once they moved, the whole process sounds like it may be a little convoluted and stressful, plus I have read on other threads that some people were saying to leave some money in their UK account and keep it active. Any advice from those that have gone through this process would be much appreciated :)

Re: Setting up a US bank account
 

And I may have posted this question in the wrong thread, very sorry.

Re: Setting up a US bank account
 

It is always useful to keep your UK bank account open, as it is just about impossible for a non UK resident to open one. You never know when a UK bank account might come in handy. I use mine to pay for things I buy in the UK (presents for family), or for spending money on trips to the UK.

If you try to open an interest bearing account in the US, you will be asked for a SS number, then or later. Non interest accounts some form of ID. I wouldn't say it was convoluted just pick a bank and ask them.

Re: Setting up a US bank account
 

Re: Setting up a US bank account
 

I started with Bank of America when i moved, all that was required was my visa and passport.

As above, BoA gave me a temporary card that i could use immediately.

I've since moved banks to Chase once i got established, they were a bit more stringent on requirements when opening an account.

Re: Setting up a US bank account
 

Are you going to be working when you are in the US?
I had the finance manager at my US company introduce me to someone at their bank and those guys sorted it all out for me.

Re: Setting up a US bank account
 

Once I have a SS number and GC then yes :)

Re: Setting up a US bank account
 

Re: Setting up a US bank account
 

I went today with my newly signed contract and my L1A visa to Chase; no SSN and no proof of address yet.
They declined to open a simple checking account, even though I insisted that my current employer (a pretty large American firm) is putting in all my papers the office address and 1111111 as SSN until I get one.

Later I went to Bank of Americas, next door and they opened Bank Account, Saving Account, and given the salary, they gave me a cashback credit card with a higher limit as I work for a "trusted employer".

Chase, I won't visit you ever again (until you offer me something better ;) )

Re: Setting up a US bank account
 

I've been writing ad nauseum about really your only choices for a bank account as a new arrival are Wells Fargo and Bank of America. Some seem to have been "lucky" with Chase and got an account but mostly, it's a waste of time until you have more documentation.
Bank of America customer service is crap, WF have a crap reputation. BUT it it really easy to change banks after about 6 months.

Re: Setting up a US bank account
 

Re: Setting up a US bank account
 

When I first moved to the US I set up a Wells Fargo account with my green card and social security number. I didn't need any proof of address. They were very nice so I've stuck with them since.

Re: Setting up a US bank account
 

Re: Setting up a US bank account
 

Thanks for all the info and experiences posted so far :) I take it transfering funds from the UK bank to a newly opened US bank is pretty straight forward?

Re: Setting up a US bank account
 

Yes, but your UK bank will charge you and not give you the best exchange rate... If you're transferring a large amount then it maybe worth using a company like Transferwise.