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Non Resident bank account Issue

by javistuff
11 replies
Hey, everybody!

I would like to ask a question regarding how to open a non resident bank account in the US. I know this has been asked before, but I have not found an answer to this on the other threads.

I have both Israelian and Argentinian citizenships, and need to open a US account to get paid from CJ and ShareASale. I know it is possible because I almost open one with HSBC... BUT... They asked me what the account was for, I explained to them that it was for receiving payments (and had to explain that I am self employed before that) and so they told me they can not open a Personal Account to bussiness purposes and that I should be opening a Business account.

Now, the bussines account it's not an option at all. So, what should I explain to them the account is for? I'm asking it especially to those who have already done this. I would guess receiving payments is something one should be able to do, specially when I'm already paying taxes for those payments in both countries .

So, what should I do?
#account #bank #issue #resident
  • Profile picture of the author adesbarats
    I opened up a USD bank account through my local Canadian RBC branch without any issues. I just simply went to the bank, filled out the paper work which included various questions relating to my business and voila, done! Was very simple...

    I should think if you just go to your local bank, they should be able to walk you through the process in a similar manner.
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  • Profile picture of the author javistuff
    Thanks Adesbarats for answering so soon!
    Yeah, I know that. The problem is that the fees for receiving foreign coin payments are really high here. Plus, it takes to them a lot (and I mean A LOT) of time to proccess them, so I have already understood that the right path would be to get an account opened directly in the US for that matters.
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    • Profile picture of the author javistuff
      I don't want to seem needy but... truth is I am!

      I know there are several warriors here that did already opened a US account as non residents. I would really need to hear which reasons to give to the account manager ("opener" ??) for what am I opening the account for, cause last time when I tried with the HSBC central they understood (obviously, and I cannot blame them) it was for bussiness reasons. But that lead them to asume I needed a bussines account, which I can't have.

      So, what should I tell I'll be needing a US account for? Can't I just receive payments in a regular Checking account? How should I do this?

      Please, heeelp!

      Javier
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      • Profile picture of the author jbento
        You don't need a US bank account to get paid by CJ. They also pay by check. And amazon also pay by check. The truth is I've been getting paid by check and the commissions I pay are lower that those of a bank account... but I may be wrong, because I receive very few payments.... yet

        Jorge
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  • Profile picture of the author javistuff
    Yes, I know that. I just can't afford to receive the payments in cheques over here. The fees are too high and the processing times are killing.
    That's why I need to open a US account...
    Any help on that? Anyone?
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  • Profile picture of the author ahaller
    I used to be a bank manager, have been out of the banking world for 8 months though but you should be able to go in and just open a personal account even if you are a non resident alien.

    You can use either passport and for a social security number they will use a default id number. Also they will fill out a form in which you will include your foreign address. Just let them know you would like to open a personal account for personal use. They may profile you which is ok but if you let them know it is for business purposes than of course they will say you need a business account.

    Hope this helps!

    Anna
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  • Profile picture of the author Clark056
    Another idea is to partner with a U.S. citizen on opening up a biz account here. In this economy many people would be open to this type of partnership than they might have been in the past.

    Some banks in U.S. territories are another option, like Banco Popular. They have branches in the U.S. but can also be found outside of continental states.

    Clark
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  • Profile picture of the author javistuff
    Thanks, Anna for the support. I guess I should be able to open an account. And I know that, if I told them it is for bussiness purposes the will get me to open a bussiness account. So, the question is, again, what to say.

    Diver79, may I ask what have you told them the account was for? How was the process? What have they asked?

    Clark, opening a bussiness acount is not an option for me, at least not in the US. I have enough managing the locally legal issues of two countries to be involved locally in another business. Thanks anyway! I'll check those branches in the US territories. Thanks Again!!
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    • Profile picture of the author Hooda M Kismet
      I had told them exactly what my account was for. Before I got into the internet marketing niche I had built a website for paintball gear and was looking for a dropshipper. I had to have a business presence in the US in order to get a tax id and so on.. Which was possible. So all I needed to do was to send the bank all my documents which includes my business license and tax documents, passport copies, etc.

      As I mentioned before, they have special departments to open bank accounts for non residents. So just try it I know it will work.

      I had to let them close my bank account cuz unfortunately at the time my business was not doing well and I did not have enough transactions to keep the minimum amount in my bank and that's the only reason they closed my account. But now I don't need a US bank account anymore.

      So I am sure if you often have transactions, your account will stay active with them.

      Hope this helps
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    • Profile picture of the author John Taylor
      Originally Posted by javistuff View Post

      So, the question is, again, what to say.
      Several people have told you the answer to that question, yet you persist in repeating the question because you not getting the answer you looking for.

      I suggest the best answer to that question is: Tell them the truth.

      John
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