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I have a relative who is a citizen of another country and not a legal resident of the US who is interested in openning a US account... a checking account and perhaps a brokerage account, like thru E-trade or something.
I told him, from my limited knowledge, that he would need a SSN to open any kind of a financial account. And unless you are a US resident or on a certain type of visa, you cannot get a SSN. Right now, he is on a visitor visa, so it wouldn't work for him.
To be sure, I asked a branch manager at my bank about this, and to my surprise, he said you can open a US checking account without a SSN.
Bank of America opens accounts for non resident illegal aliens who are residents of Mexico who are in America. No SS is needed. BOA also issues VISA cards to them which I presume have no incentive to pay back.
Would that be because you're talking about a checking account? (which does not earn any income from interest, therefore no IRS ramifications) But what if the account was some sort of an investment account where you can potentially produce income? Wouldn't that kind of an account requires a SSN so that the US government can claim its tax?
Would that be because you're talking about a checking account? (which does not earn any income from interest, therefore no IRS ramifications) But what if the account was some sort of an investment account where you can potentially produce income? Wouldn't that kind of an account requires a SSN so that the US government can claim its tax?
You would think so. Illegal Mexicans can hold a savings account as well as obtain a VISA with a $500 limit with BOA. They have to pay $90 for this acct. If after a pitance of 90 days they make no late payments the $90 is refunded. They are then free to run up the limit and run home. Other banks have followed up on this lucrative idea but they managed to keep it low keyed unlike the hated BOA.
I held an savings account in Canada without having a Social Insurance #, same thing as our Social Security #. I was not a resident of Canada but I lived there for two 6 month landed immigrant stays....legally. Legally!!! Imagine the concept!!!!
You would think so. Illegal Mexicans can hold a savings account as well as obtain a VISA with a $500 limit with BOA. They have to pay $90 for this acct. If after a pitance of 90 days they make no late payments the $90 is refunded. They are then free to run up the limit and run home. Other banks have followed up on this lucrative idea but they managed to keep it low keyed unlike the hated BOA.
I held an savings account in Canada without having a Social Insurance #, same thing as our Social Security #. I was not a resident of Canada but I lived there for two 6 month landed immigrant stays....legally. Legally!!! Imagine the concept!!!!
There's gotta be something I'm missing here. Shouldn't there be some kind of a law that says you need some sort of US credentials to have a US account? Otherwise, like you said, foreigners can use it as a vehicle to bring Dollars into their home countries without incurring any duties or going thru any kind of customs regulations. What am I not understanding here?
There's gotta be something I'm missing here. Shouldn't there be some kind of a law that says you need some sort of US credentials to have a US account? Otherwise, like you said, foreigners can use it as a vehicle to bring Dollars into their home countries without incurring any duties or going thru any kind of customs regulations. What am I not understanding here?
What are you not understanding you ask?
Your government sucks. They give outsiders more rights then us born and raised Americans, not to mention a free $1800 free welcome to America gift they get. Wana know more about interest free financing on a new business that you and I are not eligable for?
Are you really talking about ILLEGAL aliens? wow...! I knew you are able to open an account with BoA, checking and secured visa card ($500) but in cases of people working here, able to provide SSN in a few weeks, etc., or if you're studying. But never heard of account for tourists or... illegal people!
Quote:
Originally Posted by desertsun41
What are you not understanding you ask?
Your government sucks. They give outsiders more rights then us born and raised Americans, not to mention a free $1800 free welcome to America gift they get. Wana know more about interest free financing on a new business that you and I are not eligable for?
I'm really tired so I don't know if I'm not understanding the sarcasm or a link is needed here.
Jessh..! It's seems easier, quicker and cheaper to cross the river than doing all the paperwork, huh?
My neighbors are Brits. They visit a few times a year for a week or two. They own a home here. They have a checking account with SunTrust. The have no SS#. She wires money into her account to pay her house related bills--the taxes, utilities, insurance, lawn/pool care etc.
My wifei and I British are just about to retire. Our son has married a delightful American girl and they now live in NC. We want to retire ovver there and have engaged a US lawyer to help us through the administration.
We will get Green Cards in two years once our son gets his US passport.
What I am trying to do is to upen up a LEGAL Bank account for us to buy a property within the next year of so before we get our Green Cards.
Can anyone please tell me how I may legally do this please.
My wifei and I British are just about to retire. Our son has married a delightful American girl and they now live in NC. We want to retire ovver there and have engaged a US lawyer to help us through the administration.
We will get Green Cards in two years once our son gets his US passport.
What I am trying to do is to upen up a LEGAL Bank account for us to buy a property within the next year of so before we get our Green Cards.
Can anyone please tell me how I may legally do this please.
Thanks in advance.
Can I ask you first why on earth would you want to leave your first class health care for this disaster of a clusterF health care here? Do you know it costs a thousand dollars for an asperin or a band aid here?
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