International Bank Account

gt94sss2

guynextdoor82 wrote: »

yes Im aware of that but one of their branch managers told me that after 3 months of lack of account funding it will resort to monthly fee

I have a HSBC Checking account which I haven't used for years and have never been charged anything... as such I would ignore what they told you, unless you find it in writing as an official policy (I doubt it!)

Regards
Sunil

gt94sss2

docij wrote: »

We have a Citibank sterling account which we use to deposit the money and at the same time opened a dollar account into which we transfer money from the sterling account at no cost.

Are you sure its at no cost?

As I wrote here, Citibank used to be good for exchanging pounds to dollars but have recently dramatically worsened the exchange rates they offer you if you now wish to change currencies - which is quite a bad hidden cost!

Regards
Sunil

NYC01

gt94sss2 wrote: »

As per my other post, the HSBC 'Free Checking' account states:

• No monthly maintenance fees
• No minimum balance

so I am not sure where you get the $30/month fee from. The account would also come with a cheque book and card.

The other reason I suggest HSBC is that they are one of the biggest banks in New York State - with around 400 branches..

Also, if you bank with HSBC in the UK, you may find they give you discounted money transfers to HSBC accounts abroad.

Regards
Sunil

I see what you are saying, but you have to be a US resident for this account. I am a UK resident and all i need is an account in New York State (i.e Rochester) to carry out some business.

I need to be able to access the account from the UK, but one that has no fees.

An account similar to any US dollar account like citibank would be perfect.

Thanks for all your replies.

gt94sss2

NYC01 wrote: »

I see what you are saying, but you have to be a US resident for this account. I am a UK resident and all i need is an account in New York State (i.e Rochester) to carry out some business.

You don't need to be a US resident to open this account - only for you to do so online - HSBC in the UK can arrange for it to be opened for you.

I actually lived in Brockport for a few while (not far from Rochester!) and as a UK resident/existing HSBC UK customer, HSBC in the UK got HSBC USA to open a checking account and USD credit card with them (then called Marine Midland) before I left.

HSBC USA/Marine Midland also used to have their HQ in Buffalo so have lots of branches around there/in upstate NY.

Thats why I originally asked who you banked with in the UK.

Natwest/RBS own Citizens Bank for example - and the other big UK banks will also have special arrangements for their customers who wish to open US bank accounts..

Regards
Sunil

Lazy_Runner

gt94sss2 wrote: »

You don't need to be a US resident to open this account - only for you to do so online - HSBC in the UK can arrange for it to be opened for you.

I actually lived in Brockport for a few while (not far from Rochester!) and as a UK resident/existing HSBC UK customer, HSBC in the UK got HSBC USA to open a checking account and USD credit card with them (then called Marine Midland) before I left.

Surely by living in the US, you had a social security number? My lack of this number prevented me from opening an account, even though I could fulfill the address requirements etc.

gt94sss2

Lazy_Runner wrote: »

Surely by living in the US, you had a social security number? My lack of this number prevented me from opening an account, even though I could fulfill the address requirements etc.

No - no US social security number - and one isn't needed to open a US bank account either.

Its just the way the staff have been trained that its unusual if someone doesn't have one and they may not be aware of how to handle the situation (also depends on the banks own policies)

You should have been able to walk into a bank and open an account.

For example, HSBC USA's online application form states:

What if I don't have a Social Security number?

If you do not have a Social Security Number, we will not be able to open your account online. However, you may visit a local branch about alternative means for verifying your identity in order to open an account.

In my case, HSBC in the UK took care of verifying my identity - as I was an existing customer in the UK

Regards
Sunil

Lazy_Runner

Thanks for that.

Any thoughts on if HSBC will do this for me if I bank with First Direct? I wouldn't ask FD because they are good at what they know, but for left field queries, not so much help.

I know that HSBC staff can see both HSBC accounts and FD accounts (or at least the existence of) on their screens.

gt94sss2

Lazy_Runner wrote: »

Any thoughts on if HSBC will do this for me if I bank with First Direct? I wouldn't ask FD because they are good at what they know, but for left field queries, not so much help.

If you ask First Direct, they should refer you to the HSBC International Banking Centre in London (0845 607 6706 or +44 20 7991 7414) who do this sort of account opening.

When I did it, it was all free - but I think they recently introduced a charge, unless one is a HSBC Premier customer - though the HSBC website (and here) does also say:

"If you prefer to open an account by approaching one of our overseas offices directly we can provide you with details of overseas branches free of charge."

The T&C also say 'The £100 fee for non-Premier customers is variable' so perhaps you could get them to overlook it? If only as it would be much easier for you to send the documents/application form to London than the USA directly (First Direct should confirm you are an existing HSBC customer in either case)

Let me know how it goes!

Regards
Sunil

Lazy_Runner

Many thanks for your responses. I was looking to open an account a couple of years ago, however I have less need now.
But if I do open an account, I will let you know.

Cheers

LR

NYC01

gt94sss2 wrote: »

If you ask First Direct, they should refer you to the HSBC International Banking Centre in London (0845 607 6706 or +44 20 7991 7414) who do this sort of account opening.

When I did it, it was all free - but I think they recently introduced a charge, unless one is a HSBC Premier customer - though the HSBC website (and here) does also say:

"If you prefer to open an account by approaching one of our overseas offices directly we can provide you with details of overseas branches free of charge."

The T&C also say 'The £100 fee for non-Premier customers is variable' so perhaps you could get them to overlook it? If only as it would be much easier for you to send the documents/application form to London than the USA directly (First Direct should confirm you are an existing HSBC customer in either case)

Let me know how it goes!

Regards
Sunil

I phoned HSBC international and they told me that the £100 fee stands unless you attend at a bank personally in the US. The free checking account gives me everything i need, so the only thing now is to get rid of this £100 fee. I wonder if this falls under the bank charges that are talked about so often.

If anyone can tell me how to get rid of this £100 it would be just perfect.

Thanks again the info so far has been great.