Non-resident US bank account

Discussion in 'Professional Trading' started by Ajax2004, Feb 6, 2007.

  1. Ajax2004


    Hi, Does anyone know if/how a non-US citizen and non-resident can open a bank account in the US?

    I have US$ expenses in the US and transferring from IB to home and back to the US is not very cost effective.

  2. mgarc


    yes, you can.
  3. Ajax2004


    Cool, any insight into the 'how' part?
  4. Ask at your local bank or email an American bank, then you will have the facts of what you can or cant do....simple!
  5. Ajax2004


    Spoke to customer service of BoA USA and met in person with the local Citibank's International Personal Banking officer. No dice, and not so simple.

    If you've done that and found it simple I'd be happy to hear about your experience.

  6. 'No dice' = No.

    'Not so simple' = Possible.

    Which one is it?
  7. Ajax2004


    No dice = I was told on both occasions it was not possible to open an account. Otherwise I would have said I got it done.

    Not so simple = refers to your "simple!".
  8. Here....

    If that's no good, keep on Googling....simple
  9. Ajax2004


    Thanks, I've seen heaps of these type of sites. I was looking for an option where I know in advance what bank I'm going for, what type of account etc. and I don't want to pay an introducing fee. Simple.

  10. Someone at Citibank gave you incorrect information.

    You can open a bank account at Citibank as a non-resident but it ain't easy and there are account requirments.

    You may want to call again and make sure you talk to someone in their international department.

    Is it possibly you didn't meet the requirements that would allow for Citibank to give you a U.S. based account as a non-resident?

    Were you a U.S. resident at one particular time in the past?

    Last of all, what's more expensive, paying for one of those Bank Account kits (introducing fee) at those online banks setup for non-residents or paying the current fees of bringing your money from IB to you than back to the U.S. to pay those expenses or debts?

    P.S. Are these expenses (such as a data charting service) or debts?

    #10     Feb 6, 2007