I have some clients that are looking to set up US bank accts with out having to appear in person. Does anyone know of an establishment that can help them out?
I honestly don't think any US Bank can create an account with any overseas money, without proper ID. I am not an attorney, but I think the Patriot Act has alot to do with this.
I have an Australian/UAE client, and he had to come to the states and present all of his identification.
John
Yes , John is correct in that they have to be there in person . Again not a lawyer either but a bank must see the person they are dealing with.As well as having all proper identification.
Sincerely
Alex
I have had to sign the bank doc and register my 'official signature' with proof of ID, in person. My business partner, who is out of the country must personally sign signatory ID forms if he wants access to the business account. You will also be asked for your tax ID either employer tax ID (EIN) your Soc Security no;, which you won't have, or your personal tax ID or ITIN which you can apply for outside of the US.
Since last year also, new bank reform laws have been enacted making things even more tricky.
Also avoid Bank Of America – they are going down the toilet.
Ian
http://theblockblog.com
Free Property Investment Info. Tools & Resources for Investors with A Sense of HummerHi, we have gotten approval from a bank here in the US to establish bank accounts for our Australian investors without them having to travel here. We are running our one of our clients through the process now to iron out any kinks in the system. If all goes I will post the news here and would be happy to assist. <moderator: delete advertising> Hope to be back with good news early in the week. Bob
Does anyone recommend a particular bank to use?
Jamie,In regards to which bank to use…
Be aware that most banks do not operate in every state of USA.
Also, the way we do online banking in Aus to transfer money from one bank to another, does not work in USA.ie Seriously, they sent a written cheque in the mail, from one bank to another bank to transfer money.
And it took over a week!So first, identify which state(s) you want to invest in.
Then find out which banks operate there.
Then choose between them!US banking is a whole different system to ours, and much more complex because there are hundreds of banks, which may operate in a small area or across most of USA.
We opened an account with a bank which operates in Florida.
Then decided to invest in Arizona, and found that the nearest office of the bank was Chicago (half of USA away!)We are now with Wells Fargo, who have been fantastic BUT only because we go over frequently and have built professional relationships with the staff.
Good news!
Our first test case in establishing a bank account for one of our Australian clients was successful. He did not have to travel to the US. I’d be happy to help, it is a fairly simple process. We do not charge, or receive a referral fee, to assist in setting up the account.Hi,
Yes, we can and do set up bank accounts including a debit / credit card and checking facilities linked to that account without our clients needing to travel to the States. It is with one of the major US Banks, however we can only do this because of the relationship that we have formed with that bank over a long period of time.
However, clients need to be registered with us for us to do this for them.
Rob
US Property Invest
http://www.uspropertyinvest.com.au
0413 099 598Hi Bob,
I would like to find out which banking facility you would suggest. How would you like for me to contact you?
MJ
Hi MJ,
the email address below is good.mjcantrell wrote:I have some clients that are looking to set up US bank accts with out having to appear in person. Does anyone know of an establishment that can help them out?I suggest you contact Betty Lentakis at Forex Sport Pty Ltd [email protected] PH +61 (03) 9846 8269 http://www.forexsport.com
They work mostly with money transfers for international athletes, but are also happy to work with investors. One of their offerings is a multicurrency account, which can be set up from Australia for little or no cost, they are generally based in tax havens, but money can be transferred in and out in multiple currencies from anywhere. They are just the facilitator, there are numerouds banks that provide the actual accounts, it is a very useful service.
quickchick wrote:Jamie,In regards to which bank to use…Be aware that most banks do not operate in every state of USA.
Also, the way we do online banking in Aus to transfer money from one bank to another, does not work in USA.ie Seriously, they sent a written cheque in the mail, from one bank to another bank to transfer money.
And it took over a week!So first, identify which state(s) you want to invest in.
Then find out which banks operate there.
Then choose between them!US banking is a whole different system to ours, and much more complex because there are hundreds of banks, which may operate in a small area or across most of USA.
We opened an account with a bank which operates in Florida.
Then decided to invest in Arizona, and found that the nearest office of the bank was Chicago (half of USA away!)We are now with Wells Fargo, who have been fantastic BUT only because we go over frequently and have built professional relationships with the staff.
Thanks for the reply quickchick. Much appreciated.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
