UK/USA bank account?
Aug 21st 2014, 10:59 am
#61
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,596
Re: UK/USA bank account?
I'm not going to address all of your points in detail, since on one that is central to your argument, you are confused.
For people with SSNs, they can address it through the credit bureaus or other databases. This is specifically allowed by the regulation, as I explained.
No! A US person is specifically defined in each relevant regulation. For tax reasons, a US person is any US citizen or resident. This includes both permanent residents, and temporary residents who satisfy the substantial presence test. If you were ever a US resident taxpayer, you could have opened a US online account, if only you'd realised that this made you a US person.
Classification of Taxpayers for U.S. Tax Purposes
For people with SSNs, they can address it through the credit bureaus or other databases. This is specifically allowed by the regulation, as I explained.
No! A US person is specifically defined in each relevant regulation. For tax reasons, a US person is any US citizen or resident. This includes both permanent residents, and temporary residents who satisfy the substantial presence test. If you were ever a US resident taxpayer, you could have opened a US online account, if only you'd realised that this made you a US person.
Classification of Taxpayers for U.S. Tax Purposes
Aug 26th 2014, 12:11 pm
#62
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Re: UK/USA bank account?
Like I said, I've actually had a long conversation with a lawyer responsible for writing up a CIP at a major commercial bank, this is not my imagination.
A US person is specifically defined in each relevant regulation. For tax reasons, a US person is any US citizen or resident. This includes both permanent residents, and temporary residents who satisfy the substantial presence test. If you were ever a US resident taxpayer, you could have opened a US online account, if only you'd realised that this made you a US person.
(7) U.S. person means:
(i) A United States citizen; or
(ii) A person other than an individual
(such as a corporation, partnership, or
trust), that is established or organized
under the laws
(i) A United States citizen; or
(ii) A person other than an individual
(such as a corporation, partnership, or
trust), that is established or organized
under the laws
Non-US person includes an LPR, but LPRs can easily be identified by their US-issued alien registration cards, banks usually don't want to risk going further than that. As I illustrated by quoting the Bank of Internet website.
The reason being you've got to send it to them electronically, and they aren't going to trust a foreign passport.
Last edited by Steve_; Aug 26th 2014 at 12:13 pm.
Aug 26th 2014, 12:14 pm
#63
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Aug 26th 2014, 1:11 pm
#64
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,596
Re: UK/USA bank account?
You add a lot to many different threads on BE, for that I respect you, but on this one you have the wrong end of the stick, and unfortunately seem to want to carry on defending your erroneous position.
Aug 27th 2014, 1:35 am
#65
BE Forum Addict
Joined: Jan 2014
Location: Anchorage, AK, USA
Posts: 1,347
Re: UK/USA bank account?
You are a non-US resident. The mistake you keep making is to believe that your experience must be the same as someone who is resident in the US on a non-immigrant visa. Please get it into your head that it is not.
I will not go about rebutting your reply to me again, as I don't think I can be any clearer. Your understanding of the conversation with the lawyer is fundamentally flawed because you misunderstood, both then and now, what he meant by "US person" in that context.
Aug 27th 2014, 9:13 pm
#66
Forum Regular
Joined: May 2014
Location: Reading (Current)
Posts: 48
Re: UK/USA bank account?
Sounds like HSBC isnt so good over in USA. I am with Santander and moving to Austin (TX). Looks like 0 ATM's so i am looking to open a American account.
I will want something with good saving rates and lots of ATM's! (like Santander in UK).
Anyone have experience in Austin?
[/highjackingsomoenesthread]
I will want something with good saving rates and lots of ATM's! (like Santander in UK).
Anyone have experience in Austin?
[/highjackingsomoenesthread]
Aug 28th 2014, 1:21 am
#67
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,176
Re: UK/USA bank account?
Savings and rates, will be shit, everywhere, just shit.
If you're transferring money from the UK, use a currency exchange service.
ATM's are everywhere, but who uses cash on a regular basis? A lot of banks will cover ATM fee's if used at another bank, but they often get you else where.
BoA, horrid, but they do tend to be everywhere, no idea about Austin mind.
