Question Best USD personal savings account for non-US citizens

[zedislost]

Any thoughts about what banks are best for fixed-term savings USD account for non US-citizens?

Requirements:
- Can open bank account online.
- Money is protected by a scheme.
- Less than a year term.

According to MoneyFactsCompare it seems to be Barclays, but I have to create the bank account in person. Did anyone have experience with Xapo or SkiptonInternational? It seems that NatWest International might be the best option?

 

[TheCryptoAnt]

If you just need to park your money for some time and get some yield, IBKR will do.
No bank acc ik but I dont see why you would need one if what you want is the above.

 

[GeneralGogol]

Why fixed-term savings when you can just buy treasuries on any broker?
You get the same yield AND also remain fully liquid and able to use the money whenever you want

 

[zedislost]

@GeneralGogol great idea, do you have any broker suggestions?

 

[GeneralGogol]

@GeneralGogol great idea, do you have any broker suggestions?

Any broker that allows you to buy USD ETF will work. Interactive Brokers seems to be the most popular choice.

 

[JustAnotherNomad]

What about taxes? There is no WHT on interest paid from US bank accounts anymore. But I believe with treasuries, there is WHT.
Maybe someone else knows more about this.

 

[AlexGE]

What about taxes? There is no WHT on interest paid from US bank accounts anymore. But I believe with treasuries, there is WHT.
Maybe someone else knows more about this.

Yes, you'll pay 15-30% as a WHT on any interest from US domiciled ETFs.
So 5% 1year US Bills * 0.7 = 3.5% real interest rate

 

[JustAnotherNomad]

But not on bank deposits...

 

[backpacker]

What about taxes? There is no WHT on interest paid from US bank accounts anymore. But I believe with treasuries, there is WHT.
Maybe someone else knows more about this.

Read -> Can Nonresident Aliens Invest in US Bonds: Interest vs Dividend