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bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
June 3, 2012 - 9:23 am
Hi Streamline Investing
I opened my HSBC account in person at the Brisbane branch. This was about 16 months ago so not sure if anything has changed.
At the time it just involved paying a fee of $200 and bringing in a bunch of paperwork, ID, bank statements etc.
Didn’t need to open a premier account.
Having said that, I never used the account as there is no branch in las Vegas.
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
May 22, 2012 - 11:52 am
Happy to recommend Emma on this forum…..helped me buy a place in Vegas….most importantly I bought through licensed real estate agent and not some flip or turnkey deal.
Not always easy to keep up with her…. but is honest and helpful..and most importantly is there on the ground when something goes wrong.
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
May 21, 2012 - 10:24 am
On recent trip to US I opened a new account with Charles Schwab bank.
Couldn’t do it on line as I don’t have a US drivers license. Managed to work around it (I thought) by attending branch in person.
Opened account with $10, even got my first statement, and started to organize payments, rent etc to move from Wells Fargo account.
Now that I’m back in Oz they write to me and tell me my account will be closed within 5 days unless I attend the branch with my US drivers license.,!!
Bloody Nora
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
May 20, 2012 - 11:22 am
Had the same problem…solved with xetrade.com, let’s you transfer from us bank account
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
April 17, 2012 - 8:10 pm
Ok, have met with Charles schwab bank.
They have a fee free “high yield” investor checking account.
You need to be a us resident to open.
Couldnt open account from Australia but the face to face meeting seems to have done the trick.
Hopefully this will be better than wells Fargo etc
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
April 14, 2012 - 6:54 am
Currently in Arizona. They won’t notorise a document here for an Australian in case I’m a Mexican! Not just the banks that are backward!
I set up a us bank account from Australia through HSBC, cost $200, but can be done. Never used it though as there was no branch in Vegas. Waste of 200 big ones.
Signed up with wells Fargo when in us for a fee free account that now costs $13/month.
Have an appointment on Monday with Charles schwab bank which reads ok. Will let you know how I get on.
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
March 17, 2012 - 6:58 am
Thanks for cleaning up the pine needles Emma!
I'll be in Vegas Thursday week to buy you nice meal and good wine!
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
February 21, 2012 - 6:58 am
Not to labour the point but..
My fee free Wells Fargo account, that doesnt provide internet banking, now costs me $13/month, and they have my money!
Bit surprising to pay $25 for a new cheque (check) book too!
At least I'm getting .00004% interest!
Any suggestions for an alternative bank?
Some have suggested Charles Scwabb…and comments?
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
February 20, 2012 - 11:12 am
Hi Ziv
As with every other step on this adventure we solved the problem when it arose. Never had the need to transfer funds from US bank to Australia from within Australia previously.
I guess you could pull small amounts via a debit card from ATM but you'd have to go every day for 3 weeks to get $10k and you'd probably lose half on bank fees, commisions, ATM fees etc etc.
Didn't mean to bash the US banking system………. but it is crap However, as with most things in the US there is a solution and a work around if you look hard enough……i.e. xetrade
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
February 19, 2012 - 12:27 pm
Imagine our shock when we discover that to do a wire transfer in US you need to physically go into the US bank.
No problem let's use Ozforex or similar, just use internet banking to transfer funds.
Crikey…no internet banking in US (where you can actually transfer funds to another person or entity)
Not much help if you are in Aus trying to bring funds home. Hence the OPs question.
XEtrade allows you to bring funds back from US to AU without having to fly to US to do it!
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
January 30, 2012 - 11:09 am
From the ATO website…perhaps get an accountant familiar with OS investment property!
Claiming rental deductions
Remember:
Tax deductions on your rental property can include
– rates
– interest
– insurance
– real estate agent fees
– depreciation
– deductions for capital works.
If your overseas property tax deductions are greater
than your overseas rental income, you will have a
foreign income loss.
You can use your foreign income loss to reduce
your Australian income.
bigfirerichie
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@bigfirerichie
Join Date: 2009
Post Count: 12
January 26, 2012 - 11:46 am
xetrade.com