I've read a few old posts about this but no clear solution.
I'm a foreigner residing in South Korea and I have a website that sells mainly to the US via Paypal.
I've discovered that due to some specific Korean regulation about Paypal, as a foreigner I can't transfer money from Paypal to my Korean bank account. So I have to use the accounts of Korean friends, and the other problem is that due to another regulation, the dollars wired onto a Korean bank account are automatically converted into local currency, even if you have an account in dollars.
I'm therefore trying to see if I can open a non-resident bank account in the US.
Citibank tells me that I would have to keep a balance of 50K permanently on the account.
Does anyone know of a bank that doesn't require such a large amount to always be on the account?
Thanks in advance for your advice