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personal account USA and proof of address

I don't know all the requirements from all the banks in the U.S. but the ones that I know will ask you to provide a U.S. address.
However, there are banks, mainly in Florida as someone has mentioned, that will open an account for you without a U.S. address.

I have an account with Chase and I don't live in the U.S. but Chase will now ask you for a U.S. address.

But you have two solutions that I can think of...

1) You open an account with a U.S. Broker that besides giving you a brokerage account will also give you a checking account, and a debit card. I recommend Charles Schwab, but you'll need to provide an address somewhere in the world.
2) The second option is that I put in contact with someone that will open an account for you in either Chase or BofA without having to provide a U.S. address, but you will have to provide an address somewhere in the World (the guy that I know is legit, I know him, but he will charge you a few thousand Euros, he offers a lot of services related to Banking, Company formation, etc.)

I also know a company that does provides the same services as the guy that I've just mentioned, the company is in Singapore and they are also legit. They will charge you of course.

But regardless of the path you choose to open an account in the U.S. you will have to provide an address somewhere, maybe your parents home if you don't want to give your address.
Any minimums to open an account with Charles ?
 
Any minimums to open an account with Charles ?
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Their debit card is really good, no fees anywhere in the world
 
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BofA: I visited several branches in different cities in California. In all of them, I was asked to provide proof of address in the USA. Additionally, in one branch, as a holder of a Russian passport, I was also required to bring a form from the immigration service confirming that I'm not on any sanctions list; at other branches, they seemed surprised and said that it is definitely not necessary. The branch manager explained that the client profile contains two addresses - a residential address (which would be the address of my country of residence) and a mailing address in the USA. It is the latter address that needs to be confirmed.
Wells Fargo: I also visited 3 branches. In their client profile, they have three addresses - residential in home country, residential in the USA, and mailing address. In two branches, they requested proof of the residential address in the USA. Eventually, I found a branch in San Francisco's Chinatown where they do not require any confirmations; they record everything based on verbal information. It was sufficient to provide my passport and a credit card with my name. The branch manager handled the documentation. He explained that they do not usually ask for verification, but compliance might occasionally request it later. Therefore, it seems that the requirements vary significantly depending on the specific branch. It also appeared to me that they are more lenient in areas with a high concentration of migrants.
 
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If I open a non-res bank acc in the USA, will I be subject to FACTA? I currently live/Reside in Europe. I am a not a US Citizen.

Will the US Bank will then automatically send my acc details and balances to my country of residence, similar to that of CRS?

Depends on what you do with the money that you have in your US bank.
If you get interest on your money and make more than 10€, chances are they will report back to your home country.
But there are specific agreements with different countries, so it's better that you read what specific agreements the US has with your country of residency.
 
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Depends on what you do with the money that you have in your US bank.
If you get interest on your money and make more than 10€, chances are they will report back to your home country.
But there are specific agreements with different countries, so it's better that you read what specific agreements the US has with your country of residency.
And what if your country of residency is a "frontier market" country / African country that the US has no agreements with?
 
I have Charles Schwab U.S.
I don't know about Charles Schwab international.
You can get an account with Charles Schwab U.S. by either having a U.S. address, or by using an LLC to open an account.
I use the debit card all over the world and it works great, no fees!

You did it remotely?

And how do you see it for large transactions?

And is their website is professional like Mercury?
 
You did it remotely?

And how do you see it for large transactions?

And is their website is professional like Mercury?

Yes I did everything remotely, but I used a CPA in Florida. He takes care of all the forms.

No problem for large transactions whatsoever, Charles Schwab has a lot of clients with a lot of money.

Their website is excellent. Once you have the account opened, you'll get a regular checking account, and a brokerage account in case you want to invest some money. I'm very happy with them, great customer service!
 
Yes I did everything remotely, but I used a CPA in Florida. He takes care of all the forms.

No problem for large transactions whatsoever, Charles Schwab has a lot of clients with a lot of money.

Their website is excellent. Once you have the account opened, you'll get a regular checking account, and a brokerage account in case you want to invest some money. I'm very happy with them, great customer service!

Sounds like better option for me for a real banking away from JP Morgan ,BOA Wells Fargo which i know a lot of business people complaining about them
 
Yes I did everything remotely, but I used a CPA in Florida. He takes care of all the forms.

No problem for large transactions whatsoever, Charles Schwab has a lot of clients with a lot of money.

Their website is excellent. Once you have the account opened, you'll get a regular checking account, and a brokerage account in case you want to invest some money. I'm very happy with them, great customer service!
Just to understand it correct, all you provided is a US LLC with address + personal KYC and they opened a business account for you? You didn't need to visit them, not provide any SSN or ITIN ?
 
Sounds like better option for me for a real banking away from JP Morgan ,BOA Wells Fargo which i know a lot of business people complaining about them

I also have a very old account with Chase that I rarely use. Chase is more complicated and their customer service could improve, and their website is somewhat limited.
I use Schwab constantly, if I have a question I call them and they answer the phone. I'm very happy.

Just to understand it correct, all you provided is a US LLC with address + personal KYC and they opened a business account for you? You didn't need to visit them, not provide any SSN or ITIN ?

That is correct.
You form an LLC, you give them your address + personal KYC, and that's it, no need to go to the U.S., no need for SSN or ITIN as it is not a personal account, it's a business account (although I don't conduct any business, I just use the brokerage account to invest and trade).

You can do the same with Interactive Brokers, but I'm not sure that Interactive Brokers will also give you a regular checking account, I think they only give you a brokerage account. I'm sure someone here could provide more details about Interactive Brokers.

One last thing.
To open a business account with Schwab there is a minimum amount of money required. I don't remember exactly how much it was, but I think it's $250K. And with Interactive Brokers I think it's only $2,000-$3,000.
 
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Is there a US brokerage that allows you to use your account to receive 3rd party incoming wires/ACH?

Interactive Brokers forbids it.

I only need a US account to receive USD payments, as it's expensive for both parties to receive them into a USD account abroad. I do not have a Wise business account and do not wish to risk receiving payments into my Wise personal account so Wise isn't an option.
 
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Is there a US brokerage that allows you to use your account to receive 3rd party incoming wires/ACH?

Interactive Brokers forbids it.

I only need a US account to receive USD payments, as it's expensive for both parties to receive them into a USD account abroad. I do not have a Wise business account and do not wish to risk receiving payments into my Wise personal account so Wise isn't an option.

I haven't received any 3rd party wires up to now, so I don't know, but I don't see why I couldn't.

I don't think Interactive Brokers gives you a checking account, just a brokerage account, maybe that is why they don't accept 3rd party wires.
But any U.S. bank will allow you to receive 3rd party wires.

I would contact Fidelity and Schwab and I'd ask them, both Brokers will give you a checking account, as well as a Brokerage account. I don't see why you couldn't receive 3rd party wires into any of those checking accounts, but check with them to be sure.
 
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