Anyone Opened a US Account with ITIN?

SLZ

As the title says, has anyone opened a US account with an ITIN (once it arrives) in order to build a credit profile stateside?

I'm thinking about applying for either the Citibank Account as I'd like to get the Citi Prestige in the future, it's useful for various expenses in my life, and as I'm unable to make it to the US within the coming months, I was wondering if anyone else has done something similar whether successful or not.

Opinions?

Voyager2002

No idea what an ITIN is... I opened the UK account with Citibank and explained that I needed a US-based account, and they just did everything to set it up.

System

IRC - an ITIN is a US tax identification number for people that don't qualify for a US social security number.

Citi USA are unlikely to open a checking account if you are not a high net worth or can't make it in person.

They will ask for a SS or ITIN but can open without if required.

SLZ

Voyager2002 wrote: »

No idea what an ITIN is... I opened the UK account with Citibank and explained that I needed a US-based account, and they just did everything to set it up.

US tax number like the SSN.

Did you do that through Citigold as I saw on the site you need Citigold in order to open an account which is £75,000 opening which I wasn't planning on transferring as I could instead go for Chase Private Client which is a better service or HSBC Premier.

If you didn't then I'll phone and ask.

Heng_Leng wrote: »

Citi USA are unlikely to open a checking account if you are not a high net worth or can't make it in person.

They will ask for a SS or ITIN but can open without if required.

That's what I thought, I can always wait until I go over but I'm hoping that I could do it and start building a credit profile.

Anyone else have experience or should I wait until I go to the US?

OllyM

The US credit reference agencies reject ITIN's as invalid so they aren't much use really - http://www.experian.com/blogs/ask-experian/2013/09/12/individual-taxpayer-id-number-cannot-be-used-in-place-of-social-security-number/

I also don't think current (checking) accounts appear on your credit report like they do in the UK - only credit cards, loans and mortgages appear. They have another CRA called ChexSystems which deals with checking account information and it only records negative information.

SLZ

OllyM wrote: »

The US credit reference agencies reject ITIN's as invalid so they aren't much use really - http://www.experian.com/blogs/ask-experian/2013/09/12/individual-taxpayer-id-number-cannot-be-used-in-place-of-social-security-number/

I also don't think current (checking) accounts appear on your credit report like they do in the UK - only credit cards, loans and mortgages appear. They have another CRA called ChexSystems which deals with checking account information and it only records negative information.

Ah okay, well that's put shot to that plan

I also heard about that as well as reading about the host of issues one gets through opening a US account and the potential issues that you get outside the US with other non-US accounts.

I think I'll skip the US accounts and cards all together, thank you all

COIAHLGW

OllyM's advice is correct - I have 4 checking accounts with different banks and none of them are reported on Experian, Equifax or Trans Union.


And yes, Chex Systems deals with checking account issues - you will stay in their database for a LONG time if you bounce a cheque

ronbell101

Visited BOA Branch in Florida 5 years ago and they opened a joint checking account for me and my wife with no SSN or anything,we still use it now for our US Visits

awolo1

you would find it extremely difficult to get an account opened through JPmorgan/chase private client in the US if you are living in the UK without any fixed residence in the US. Furthermore, they will not open accounts (Regardless of net worth) unless you can physically visit a branch in the US to sign the paperwork.

Within the last twelve months or so they have become a lot stricter. You are better of looking at Citibank UK for a US dollar debit card, or lloyds international banking.