US $ Bank Account

prudryden

Cook_County wrote:

wearside should not have a problem because s/he will need to get a US Taxpayer Identification Number (ITIN) to filke US tax returns each year, which is what any bank will require. misd will also need an ITIN to open a US account and can get this when filing the 2006 US tax return.

Only needs a W8 Ben form to open an account with an Investment Firm such as Schwab or the others.
p.s. I have no relationship to Schwab whatsoever.

Cook_County

The W8-BEN can only be filed by non-resident aliens; if wearside is a resident alien s/he will need to file a W9, which requires an ITIN.

A W8-BEN is not required in any case for a bank account, only for a securities account.

US banks will all look for an ITIN so that they can report interest paid ach year on a 1099-INT.

prudryden

Sorry-- but I got the impression she was a non-resident alien. I was referring to Investment firms, not a bank. An investment firm also has deposits and takes in all currencies for deposit to a money market fund. There is no need for a non-resident alien to provide a social security number or an ITIN number for USD to be wired into their account.
However, the people she is getting paid from should probably require it in order to deduct tax at source.

wearside_2

prudryden wrote:

Only needs a W8 Ben form to open an account with an Investment Firm such as Schwab or the others.
p.s. I have no relationship to Schwab whatsoever.

I do not want a Tax Number nor a US Social Security Number as I have no intention of working here in Florida. I just want to spend the winters recharging my batteries!

wearside_2

Cook_County wrote:

The W8-BEN can only be filed by non-resident aliens; if wearside is a resident alien s/he will need to file a W9, which requires an ITIN.

A W8-BEN is not required in any case for a bank account, only for a securities account.

US banks will all look for an ITIN so that they can report interest paid ach year on a 1099-INT.

I do not want a Tax Number nor a US Social Security Number as I have no intention of working here in Florida. I just want to spend the winters recharging my batteries!

Cook_County

If you receive zero incom in the United States and are not resident under the substantial presence test then there is no need to file a US tax return. Because you said you had a home in Florida I assumed that your presence in the US met the substantial presence test. If I am mistaken then my apologies.

wearside_2

I was just sharing my experience regarding US$ accounts with Missd21!

jeffk

missd21 wrote:

Thanks, but, it was Citibank that suggested I call the States direct, which I did, then after being on hold for 40 mins, and speaking to 6 diff people, routed to Malaysia, then India, then US said ..they would open account IF I deposited $25K, OR opened it in person.... might try that money changing route whilst im endeavouring!!

Citibank used to do a UK-based US$ account which only required a minimum balance of £2k to remain free. You could also link it to a UK current and/or savings account (Which paid interest) and keep the £2k in that and all accounts stayed free. May have changed from what you say....

However, as it seems you've found out already, their service level sucks lots - I closed my accounts when they offshored the call centres...seems they're even worse now if this is the "new customer" line bouncing you around, as that was still UK based when I left them. :eek:

Glad

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Dave_Sk

Hi, sorry this reply is a little late, but I can vouch for auctionchex.com. Makes taking affiliate payments really simple. Not sure how it works out if you are talkin huge sums but for uptp a few hundred dollars per month it's great.

Also, there is no fee if you set up your bank details on there, you send him the USD cheque/money order and the money is usually in the bank within a week or so. He makes his money from the exhange rate I presume.

Only ever had one problem where the money didn't arrive, but after emailing him, he responded and sorted it out with professionalism and no messing about.