Opening Bank account in USA

[bananafarang]

I have been out of the country last 20 years and need to open a bank account in USA for transferring funds from my retirement account and later direct deposit my SSA .

 

I need to open a USA bank account but I have no driver license (expired) or address. I do have Bangkok Bank account in Thailand. 

 

Is there a way I can open from Thailand? 

 

Thank you

 

 

[moana]

A friend was able to open remotely via https://www.americansabroad.org/sdfcu-account/
 

Also worth noting that Transferwise Borderless is cheaper and easier to open and offers a real USD account (they actually open a bank account in your name at CFSB). You can ACH/wire to that account.

Edited April 5, 2018 by moana

[quandow]

Bangkok Bank has a branch in New York so technically you already HAVE an account there.

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

 

[Langsuan Man]

16 hours ago, quandow said:

Bangkok Bank has a branch in New York so technically you already HAVE an account there.

 

 

No you "technically "don't, the NY branch is not a retail bank so you have an account in Thailand that has access to a US branch of a foreign bank 

[GinBoy2]

I 'think' that the biggest hurdle is having a US address. You have an SSN so it's really just that residential address obstacle

Last account I opened remotely from Thailand was with Ally Bank, since it's 100% online with no fees, but I did need my US address.

So, you'll need to use either a friend or family member's address, or alternatively set up a virtual address with one of the various commercial mail forwarding outfits

[moana]

7 minutes ago, GinBoy2 said:

I 'think' that the biggest hurdle is having a US address

Both options I mentioned do not require a US address.

[JimGant]

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or alternatively set up a virtual address with one of the various commercial mail forwarding outfits

Unfortunately, this is becoming less of an option, as these mail forwarding addresses are easily identified as not your physical address. And physical address is what's needed under the know-your-customer rules.

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Under the rule the minimum identification information that an FI must collect at the opening of all new accounts, business or personal, includes:
• Name,
• Address (a physical address is required, PO Boxes are not acceptable) and
• Identification number (typically social security number or EIN).

Most FI's are ok with established customers (but not new customers) updating their address to a mail forwarding address. However, I've a Capital One credit card, and changed my address to my mail forwarding address. But, when I applied at their banking operation for a CD, nope, forwarding address was not ok. Plus, the physical address had to be in the US. Thus, even changing to within an FI from one operation to another raised the "new customer" flag.

 

 

 

[GinBoy2]

You might be right there. The crackdown on money laundering has made the PMB option more difficult. What I did in the past with BoA was use my daughters address as the physical and my PMB as the mailing address.

It's unfortunately the sign of the times, that the authorities default position is that what we're up to is nefarious, hence the work arounds become more complex

[JimGant]

Quote

You can ACH/wire to that account.

Moana, I haven't dug into the Transferwise info, but can you also ACH *from* that account? For large sums, it's considerably cheaper to ACH thru Bangkok Bank NY to Thailand than to do a Transferwise transaction for the same amount.I have a feeling, from a purely practical business position of Transferwise, that that would not be a possibility.......(?).

[JimGant]

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What I did in the past with BoA was use my daughters address as the physical and my PMB as the mailing address.

Apparently quite ok, according to this:

 

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For an individual: a residential or business street address, or if the individual does not have such an address, an Army Post Office (APO) or Fleet Post Office (FPO) box number, the residential or business street address of next of kin or of another contact individual, or a description of the customer’s physical location.

But, I've seen where some FI's want a copy of your utility bill, etc as further proof. That would certainly knock out using your daughter's address.

 

Description of customer's physical location? How about a picture of you sleeping on a park bench in Anytown, USA? This Patriot Act stuff gets a little too weird.