sibsie

I popped over to the US last week to sort out the new house and banking stuff.

I went to Sovereign Bank. Whilst they could open an account for me their service was pretty poor and their charges really high for my monthly UK income to be paid into the US account.

I tried Citizens next who were great. I had no hassle with the SSN though they did need proof of residence which I gave by way of the US house papers. They do want my SSN as soon as I have it though.

I negotiated the commerical rate on the transfer of my house sale money, no charges for my monthly money and again the commerical rate for that. My cheque books and debit card are all winging their way to my new house. It'll be weird having a cheque book again after years without needing or wanting one.

Citizensare owned by the Royal Bank of Scotland so are good for foreign customers. Sadly they no longer offer credit cards, though Sovereign had mentioned to me that my "foreigness" wouldn't be a barrier.

CaliforniaBride

Weird for me too! Hubby likes to use his cheque book, says it's because he's old!

CB

Wol

Good luck! RBS has to be the worst bank I have ever dealt with - in spades!

I had to deal with my father's affairs when he died. He had shares and accounts with RBS branches, and every single one of them screwed up - lost the probate, ignored my letters, sent the wrong information, calculated things incorrectly etc etc.

Whinge over!

sibsie

Sorry to hear that. In London I was with Holts which I think were part of RBS and they were great.

rincewind

Why don't you just keep a UK account for the monthly UK income? I have a First Direct account which I can admin online and when I need to transfer funds, I just draw it out of the machine and pay $1.50 for the withdrawl. I do a monthly trip to the ATM and draw out of my UK account and pay it in to my US account. All for $1.50.

I only refer to the bank if I need a hugh withdrawl and then have to pay $40.00 I think.

But my US account (Wachovia) doesn't pay any interest so I leave most of my funds in the UK and let it build and just draw each month to cover my bills.

Wachovia didn't give me any problems when I first opened my account. This was months ago before I had SSN, all I showed them was my passport and they opened an account.

sibsie

I no longer keep a UK account. I transferred it all offshore or to here in Spain when I left.

I prefer the UK money to go into the account in the US as it looks better for credit purposes because of its source. They can see a regular amount coming in and who it's from. I did think about ATM'ing it but as they're not charging me to transfer or commission on the rates it seemed pointless. Plus the exchange rate they're giving me is much better than one I'd get drawing it down from an ATM.

rincewind

That's cool. I'm still using my UK account as I freelance in the UK. It's easier for my clients to transfer it direct in there via BACS. I'm still waiting for my EAD so then I can start earning some sort of credit here. Right now, my hands are tied and relying on the work in the UK.

sibsie

Any idea how long it'll be for your EAD? I did hear that if you're self employed you don't actually need EAD but no one I contacted could confirm or deny that, and I tried everyone from lawyers to the SSA to USCIS.

rincewind

I had my finger prints taken last month and I still haven't heard. My lawyer said it could take up to 3 months.

I'm only self employed because I can't work here yet. My old boss in England keeps me going with freelance work. As soon as my EAD is through, I want to get back in an office.

As far as I know, you are not permitted to work in the USA period unless you have an EAD. That also means being self employed and providing any services to US companies.

I maybe wrong but that's how I understood it.

marlborobell

sibsie: With talk of Citizens and Sovereign I'm going to presume you're in (the vicinity of) Massachusetts. If so (and possibly even if not) the place to go for completely free banking and a credit card is DCU (Digital Federal Credit Union). They'll do it all -- and you don't have to be employed by any particular institution any more; if you're not in their Field of Membership, all you have to do is join the Organization for the Assabet River for a $15 donation and then you can join DCU.

Even if you have zero credit history, you can put up to $5K in a deposit account and secure it for a credit card. (i.e. the money sits there and you can't touch it, but you at least have the card and it builds up a history for you) If you aren't paying off the credit card every month, the interest rate is about 10%; you also earn their own brand of rewards points, which we used recently for three nights in a five-star hotel in San Francisco!

They are very used to foreigners and know how to deal with almost any SSN/visa/EAD issue.

No connection other than being a satisfied customer! (Well, they're a mutual, so I guess that technically makes me a shareholder too...)

sibsie

Thanks for that MB. I'll look into it.

Crimsonsky

Thanks for all this info. I'm new to the forum and this is exactly what I came here looking for.. info on US bank accounts.

My boyfriend is from England, and we're planning his move over here. He'll be going to college here, so we're trying to set up a bank. I liked that CU mentioned and may look for more directly in the Boston area. We need something that he can open now, before he has a US residental address (so he'll have to use his UK addy.) If anyone else has info that'd be great too.

Nice to meet you all.

irb

Recent info I got with my Nationwide bank statement in UK said that if I use my Nationwide ATM card at any Bank America ATM, I wouldn't be charged a commission fee. I've not tried it, but will try it shortly. Could be a good way of regularly drawing money from a UK bank account. Of Course, I don't know what kind of exhange rate you'll get, but it Nationwide are one of the few mutuals left (that is they are owned by their member and don't have to pay profits to shareholders) so maybe it will be a good deal worth looking at

Wol

I don't use the N/W card for ATMs but it is certainly 2.75% better for buying abroad than every other card except one (I don't know which that one is).