How to open US bank account for foreginers?
Thread poster: xxxcarolmonther
xxxcarolmonther
United States
Oct 10, 2013

Hello Everyone,


I would like to know if it's possible to open a US bank account even if you're not a US citizen nor US resident. And can we use that account from anywhere or only restricted for particular area. Can anyone explain me this concept briefly? Actually the think is I have decided to open Non Residents US Bank Account. Any suggestions will be appreciated.


Thank you.


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JL01  Identity Verified
United States
Local time: 15:46
English to French
+ ...
Ask a bank Oct 10, 2013

A US bank. They have the answers to your questions.

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Andriy Yasharov  Identity Verified
Ukraine
Local time: 22:46
Member (2008)
English to Russian
+ ...
twice told tale Oct 10, 2013

I think this topic has already been discussed before. You can refer to http://www.proz.com/forum/money_matters/153187-how_to_open_a_us_bank_account_for_non_residents_to_solve_paypal_problems.html or look here http://goo.gl/zlnbA3 for more information

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ATIL KAYHAN  Identity Verified
Turkey
Local time: 22:46
Member (2007)
Turkish to English
+ ...
Post 911 America Oct 10, 2013

Before 911, it used to be pretty easy to open a US bank account. All you needed was a valid ID. After 911, however, they passed a law called the Patriot Act.

http://en.wikipedia.org/wiki/Patriot_Act

With the Patriot Act in place, it is now extremely difficult for a foreigner to open a US bank account. This is all I know. Sorry.


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Sheila Wilson  Identity Verified
Spain
Local time: 20:46
Member (2007)
English
+ ...
very difficult to open a non-resident's account anywhere Oct 10, 2013

It's very difficult thoughout Europe, too. It isn't only about terrorism but also about money laundering.

Whatever reason you have for wanting this account, there's bound to be a better solution.


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philgoddard
United States
Member (2009)
German to English
+ ...
Why don't you... Oct 10, 2013

open a US dollar account in your own country?

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xxxcarolmonther
United States
TOPIC STARTER
Difference between paypal and US bank account Oct 11, 2013

Plz anyone suggest me what is the difference between pay-pal account and US bank account. Can we use US bank account anywhere like pay-pal account.

Hi Philgoddard - I will be going to use it for money transfer and we have decided we will open small business in US.


Please guide me. I confuse about few things.


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LilianNekipelov  Identity Verified
United States
Local time: 15:46
Russian to English
+ ...
What do you mean by a foreigner, Carol? Oct 11, 2013

Do you have any type of papers here, like a valid visa, or some sort of iD? There are banks, and Federal Credit Unions that will open an account for you, if you live here, but you need a valid passport -- not necessarily an American passport, and if you do not have a Social Security number, you would have to sign a special paper that you don't have one. You should inquire within smaller banks, non-commercial and Federal Credit Unions. But if you do not have any valid passports, that might be a problem.

i don't think you can use all US accounts like PayPal. Also the charges for transfers are often much higher, and there are restrictions when transferring money outside of the US. You have to report transfers over a certain amount to the US government, or some banks do it themselves.

You need a bank account to open a PayPal account, though. There is no way around it. I am not sure if it has to be a US bank account.

if you work in the US, or are going to open a business here, you need some valid papers, a Social Security number of a Employer's Tax Identification number. If you acquire those things, and you have a valid passport with the right type of visa, there should be no problem at all.



[Edited at 2013-10-11 08:33 GMT]


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xxxcarolmonther
United States
TOPIC STARTER
Open US Bank account for business Oct 12, 2013

Hi LilianBNekipelo,


I searched on google. I have got some agents or companies who provides services to Open US Bank Account for Foreigners. I have passport but I don't have US physical address. They said if you want to open business and for that you need non residents US bank account. They are ready to help me.


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FarkasAndras
Local time: 21:46
English to Hungarian
+ ...
Where are you? Oct 12, 2013

You say you want to open a business in the US. Then you say you don't have a physical address of any sort in the US. How does that work? Do you want to run an online business and make it look like it's based in the US without any part of the operations being physically located in the US? I am very confused.
Anyway, if you want to run a business operation in the US then a manager, owner or employee of some sort must live in the US to run that business. If that person can acquire permits, register the business and pay taxes on behalf of the business, they can surely open a bank account as well.


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JL01  Identity Verified
United States
Local time: 15:46
English to French
+ ...
Aw snap! Oct 12, 2013

FarkasAndras wrote:

You say you want to open a business in the US. Then you say you don't have a physical address of any sort in the US. How does that work? Do you want to run an online business and make it look like it's based in the US without any part of the operations being physically located in the US? I am very confused.
Anyway, if you want to run a business operation in the US then a manager, owner or employee of some sort must live in the US to run that business. If that person can acquire permits, register the business and pay taxes on behalf of the business, they can surely open a bank account as well.


Nothing to add.


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xxxcarolmonther
United States
TOPIC STARTER
My plan Oct 15, 2013

I'm ready to pay all taxes. And I'm gathering all this info because this is first step towards my business. I have decided to open agency who will provide services or will help people to open US Bank Accounts for Non residents.

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M. Anna Kańduła  Identity Verified
United Kingdom
Local time: 20:46
English to Polish
Wrong forum Oct 15, 2013

carolmonthero wrote:

I'm ready to pay all taxes. And I'm gathering all this info because this is first step towards my business. I have decided to open agency who will provide services or will help people to open US Bank Accounts for Non residents.


In that case I believe you're asking the question in the wrong place. You may want to check banks' offers (even phone them if you can't find what you're looking for online) and/or ask for advice on business in US forums.


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FarkasAndras
Local time: 21:46
English to Hungarian
+ ...
? Oct 15, 2013

So you want to open an agency that helps foreigners open bank accounts in the US but you don't know how it's done? And you come to a translation forum to find out? And you don't even live in the US where you could visit the banks in person on behalf of your clients in case there's an issue? Hmmm. Not a promising start for this scheme.

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