Opening a USD current/internet account

simsy2082

Hi,
I am looking for any advice / experience regarding opening a US Dollar bank account. I am relocating to the states in October. I currently bank with Natwest and have my savings account with them. I basically wish to know what my options are regarding opening an account and closing it again in 6 months when I transfer my money to an American account.
I have been advised to open an account with an American bank ie: Citibank as it will be easier to transfer my money
Does anyone have any reccommendations for accounts or tips?
Any help would be greatly appreciated

97trophy

You can open a US$ savings and checking account with Citibank London. They will give you a check book and ATM card which will get you going. I use Citi London and I like them.

When you get to the states you will have plenty of choices. There are big banks (Bk America, Chase, Wells Fargo, Citi), regional banks and credit unions.

Credit unions are very popular with a large % of the population.

Free banking is available if you search for it.

jhorsfieldbradbury

There are a number of options when it comes to opening bank accounts in the US. Free banking over there is a lot less common than in the UK - many banks charge a monthly fee, and almost all banks charge surcharges for using ATM cash machines other than their own branch.

It is possible to avoid this, however. Small local credit unions often have good deals, but the best, national online account I have found is with the State Farm insurance company. Google "state farm checking" (I'm too new a user to post the link), and you should find it easily.

Two great qualities of this account: 1) The ATM fees are rebated in the US, which means you can use any ATM and not pay to withdraw money (like most ATMs in the UK). 2) If you come back to the UK and withdraw money from the account at an ATM in the UK, there is no foreign exchange charge AT ALL - they use the interbank rate of the day before. Even the visa fee is waived (kind of like how Nationwide used to be before they started charging)

For this account, however, you will need a social security number? Do you already have one? If not, are you going to the US to work?