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any one set up a US bank account as non resident?

by stephenh
4 replies
Hello,

I am looking at setting up a bank account in the US but live in and am citizen of Australia.

I have been told I can do this by setting up an llc or corp. but I see some sites promoting that there are some smaller US banks which allow personal accounts to be set up (at a cheaper price).

Anyone had any experience with any of these?

Stephen
#account #bank #resident #set
  • Profile picture of the author Matrick
    yeah I have. I went to the bank of america. it;s just like any other accoutn just that I can't earn any interest on it. sucks.
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  • Profile picture of the author charlesburke
    Hi Stephen,

    I did that back in 2001 while living in Japan. I'm a US citizen, but even so, it was a slightly involved process. I ended up forming a full corporation in Neveda (there's no state income tax there, so less paperwork), and the incorporating agent opened the bank account for me with Bank of America. Lately I think they've switched over to Wells Fargo bank.

    Truthfully, the ongoing cost of a business account isn't very different from a personal account, so that's not much of an issue.

    Getting the incorporation done is in the low hundreds as I recall, so easily affordable. The real deterrent seems to be just deciding to do it. Once you're over that hump, the rest is just paperwork. On a separate note, Japan rarely uses notary publics, so finding one to notarize the forms and signatures was a bit of a trick (and it cost around half the incorporation fee itself).

    If you need a reference for a local agent in Las Vegas, PM me. I'll be glad to help any way I can.

    Cheers from warm and smiling Thailand,
    Charles
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  • Profile picture of the author Matrick
    which if it is for business, obviously SUCKS BIG TIME
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