US BANK ACCOUNT

You did not mention which type of US bank account you  need. But if you are thinking of opening a business account this link might give you an overview. I hope you find this very informative.

Also, I have read from the papers that Las Vegas homes are up by 15% over the year. So looks like its promising to invest there.

https://www.myusacorporation.com/business-resources/us-bank-account-for-non-residents.html

I do not think you will be able to open a bank account in any American bank without coming to a bank branch. Or if you have any American bank branches in your city, you can just simply go there to open an account. Major American banks such as Bank of America, Chase and etc. have international locations in many countries. If you decide to open an account when you arrive to Las Vegas, you will probably need to have your Australian passport, visa and the proof of your current American address (any bill will work in this case).

I phoned Wells Fargo from Australia, I rang the number on their web site and they put me through to the branch at 791 N Nellis Blvd Las Vegas, I had already set up a Nevada LLC and had an EIN number, but they would not open a business account for me as I did not have an ITIN number, but they said I could open a personal bank account with them, and I did not have to go into the bank, did it via email & phone.  They post any mail direct to me in  Australia. They are quite a distance from the strip, the Wells Fargo at Howard Hughes Parkway Branch would be closer if you are staying on the strip.

I emailed Citibank at 495 E Silverado Ranch Blvd Las Vegas, they would open a business account for me  but I needed to visit their branch to open it, they were used to foreign people opening accounts there, as he told me  he had already had others there that week. I made an appointment with them,  I  needed Passport, Drivers License, a bill with address and phone number (an Aussie phone bill was ok)  and I took all the paperwork for my LLC .

They wanted an American mailing address for my statements to be sent to, ( I use the mail service that the people I got to open my LLC run).  This branch was quite a way from the strip too, you'd need to get a taxi.

Why open a US bank account if you don't need one ?

If you have a Us agent buying property for you just do what we do for our clients. Rent from US tenants comes into our escrow account and is then wire transferred to their Australian and other non-Us bank accounts at no charge every month….easy.

I dont know why everyone recommends opening a US account, unless they are just not wanting the extra hassle ?

If you want to hold USD for some reason at nil interest rates then you can let funds sit in the escrow sub-account in your name but like i said its nil interest or close to so…why ? Plus there are USD accounts available …

I loved the PayPal idea. If you can get your PM to use it, you've landed a good one I think. Wish we could get Japanese PMs to do the same- not very foreigner friendly there (at least not where the better deals are).

Any more news about that one? Hoax or not?

That's right, certainly their not closing down accounts held by Aussies, as I'm opening accounts with Wells Fargo all the time, and have just opened another one for a client buying through his LLc / Trust, and had some unusual requests for the bank account, that they normally don't do, but it was all done and has now been opened.

I think going back to the MYUSAPROPERTY days, many accounts were opened at the Kissimmee Wells Fargo Branch, but when the contact their left, which can happen at any bank, or branch,  it caused many problems, as only a few people in some of the banks / branches understand and can open accounts for overseas investors.

Most still refer to the Patriot Act, and seem to think Australia is just over the road, so they ask for the buyer to come in to their branch to sign and open the account, and seem quite perplexed when told Australia is on the other side of the world.

But, opening accounts at  Wells Fargo is not a huge issue, if you have the right contacts, etc.

For anyone still following this thread, I just rang Wells Fargo (www.wellsfargo.com) who will open bank accounts for foreign nationals over the phone. You don’t need an American place of residence and you don’t even need an ITIN (though you won’t be able to get interest on your money if you don’t). They can be contacted by calling +1 800 869 3357. Their phone lines are open 24/7.

I was told you can't open a US bank account without SSN.