Can an Australian open a USA bank account online?
Would like to do this and after a few hours research I'm treading water.
Thought I'd open this one up to the community, thank you.
Can an Australian open a USA bank account online?
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Thanks nocure. Would it essentially be a bank account holding USD until I wished to convert it back?
The $30 fee would be fine, I'm looking at converting $100,000.
Yep , also look at banks with branches in both countries like HSBC or Citibank.
Cheers mate. Looking at the mid market rate I wonder what the best bang for buck is? Some companies take more of the midmarket rate than others, this is where I struggle a bit.
I have a HSBC account for this you can have several popular currencies, and just switch the money back and forth when it suits.
http://forums.whirlpool.net.au/forum-replies.cfm?t=2373984
"Actually, how to open the account should concern you less than the tax ramifications.
Irrespective of your citizenship, you must report any interest income from a US bank account to the IRS (even if that interest income is zero) if the bank issues you with a form 1099-INT."
It sounds like a lot of stuffing around, it's really something you wouldn't want to bother with until you've exhausted all other options. And even then, opening the account in person in the states, would be a lot simpler.
Really good info, thank you. Sounds like opening an account could be very time consuming.
Couldn't you take a Jetstar to Hawaii and open an account.
After that, presumably you'd declare any (little) interest as foreign income on your oz tax return, therefore your trip would be tax deductible.But any financials come under the watchful eye of the US anti-laundering feds.
Maybe Mossack Fonseca can help. :) Ah, they've been rumbled already.
Never heard of him, dare I 'google' it? haha
It's getting increasingly difficult for non-residents to open bank accounts anywhere. Years ago you could open bank accounts in almost any country regardless of your residency status there. Nowadays it's much more complicated. You must be able to show a work permit or retirement visa in the country where you are opening the account. Curiously despite all these strict policies, Australia allows non-residents to open accounts in the country as long as they can show an entry stamp within the past 6weeks.
I loved in the USA both pre and post 9/11. Since 9/11 you have no chance. Sorry, but don't waste your time.
Just to clarify-
Do you want to open (From Australia) a USA Bank account
or
Non Bank such as Payoneer or Paypal
or
An account held in Australia holding US Dollars
I'm afraid that they just closed a loop hole that was open up until not long ago that allowed non nationals to open accounts without being physically in the USA.
If all you need is to hold Us$ then you can open an account in foreign currency in some banks located in Australia.
Citibank and HSBC come to mind.
For the best possible exchange I would open also an account with ofx.com.au and put any trade through them and then pay the currency into your other account.
Ofx is part of the Macquarie group as is Macquarie bank too.
Ofx has a minimum of au$ 2000 per transaction and for anything over 10k they won't even charge you a transaction fee.
