Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Which bank or credit union do you recommend? I need a bank account that allows international bank transfers.
Checking or savings? Online or brick&mortar? Check online and see which works best for you.
Some banks have particular expectations. Some union banks are local ( we don't know where you live).
Some require daily or monthly minimum balance, or charge fees. You may need to fulfill some requirement to avoid the fee, such as setting up a direct deposit, using a debit card, creating a recurring transfer or linking savings and checking accounts.
You will most likely need to provide a valid, government-issued photo ID, such as a driver’s license or a passport, basic information to verify who you are, including your name, date of birth, current address, phone number, Social Security number (in most cases) and email address.
You will need some money, either cash, a check, a money order or digitally accessible funds, that you can easily transfer into the new account for the opening deposit.
1. If the bank you are currently dealing with - uses a correspondent bank for the International Transfer, then expect a fees to be levied
2. The receiving bank can also deduct some money for an inbound wire transfer.
You might not deal with the #1, but most certainly always with #2.
From recent experience your main account should be a brick and mortar. My debit card was hacked and I had a Out of state bank. It was a pain getting a replacement card. Well as far as time. Never again. I switched to a credit union.
As for international I would expect most banks to be able to do it. As suggested just call.
I worked several years at a small local bank and highly recommend finding one similar or credit union that has FREE checking with debit card and online banking options. I would think about any can do international transfer.
I try to avoid the bigger name banks, but that's just me. Also, really look into any account at fees charged or minimum balance requirements. Find a bank that doesn't do that with checking accounts.
Most banks should have a pamphlet about their accounts and offers, it will be informative of what you need to know in order to choose.
I still don't know which state I am going to settle down, it depends on the job offers, but I need an account ASAP, because withdrawing money from the ATM with my UK debit card gets expensive quickly. It's cheaper to wire a bulk of money to the US.
I would like a bricks and mortar checking account. Initially I will stay in South Florida, then probably move to California or NY when I find a job.
Try one of the Midwest credit unions, high rates on their accounts. I get 3% apy in dividends through Great Lakes Credit Union at 10k max and 3 accounts max per person. I live in NYC and still make use of it.
I still don't know which state I am going to settle down, it depends on the job offers, but I need an account ASAP, because withdrawing money from the ATM with my UK debit card gets expensive quickly. It's cheaper to wire a bulk of money to the US.
I would like a bricks and mortar checking account. Initially I will stay in South Florida, then probably move to California or NY when I find a job.
When I moved out of state 4 years ago, I kept old state account active, and only changed the mailing address to new location. Still getting direct deposits there, and can do ATM withdrawals or deposits at any branch office anywhere. Can also manage account on-line.
Then check with your UK bank to see if you can setup recurring transfers from UK to US ( not wire transfer). I do this between my old state account and a new local bank account. Cost me $3 a month. (but it is a US to US bank transfer)
When I moved out of state 4 years ago, I kept old state account active, and only changed the mailing address to new location. Still getting direct deposits there, and can do ATM withdrawals or deposits at any branch office anywhere. Can also manage account on-line.
Then check with your UK bank to see if you can setup recurring transfers from UK to US ( not wire transfer). I do this between my old state account and a new local bank account. Cost me $3 a month. (but it is a US to US bank transfer)
Used Wells Fargo when we moved to the states four years ago from overseas, was a seemless transition. Walked in with ID and cash and opened an account. The branch I went to is in an area where there are many expats so that might have helped.
Did a small wire transfer from overseas that week to prove to myself it worked and to allow set up of secured credit card. With no credit you will need that. Transferred rest of cash in bulk later, check with your current bank as they likely have better (unadvertised) exchange rates for larger foreign currency transactions.
Building up the credit score took some managing but all turned out well. Still with WF but also have accounts at a local credit union now.
Best bet is a bank with branches in the country that you want to transfer money to or from.
The U.S. banks with the largest number of foreign branches are Chase and Citibank. HSBC is good in Asia. Just go on the bank's website and see where their branches are.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
