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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I live in Ireland and have a NI/UK bank account and a ROI bank

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I live in Ireland and have a NI/UK bank account and a ROI bank account. We live near the NI border so it is handy to have both. I am buying a home in the US and have been given a portion from my sibing in the US via check. When I went to deposit it the bank advised it could take 8 weeks or longer as it needed to go to collection. They advised me to fly over to the USA which I intended to do anyway to buy the home and open a bank account when there to deposit this into. Plus I would get hammered on exchange rates and fees if I put it in here. Can I open a US bank account without yet having a mailing address there. I do not want to use my sibling's address particulary. I was going to try wells fargo as I used to bank with them before becoming an expat. I want to buy a home in two weeks time so would deposit the check, transfer my foreign currency into it and pay for the home cash from that account.

Megan C :

Thank you for your question, and thanks for using JustAnswer.com

Megan C :

How are you today?

Megan C :

Unfortunately, after September 11, you now have to have a physical address in the US listed on your account.

Megan C :

So, if you do not have a home yet, you would probably have to use your sibling's address for the time being - but just until you got your own address and then you could change it on record with the bank.

Megan C :

Also, depending on the bank's policy, and the amount of the check, the bank can hold that check for up to 10 days before releasing the funds for you to use.

Customer:

if she lives in illinois but i want to open an account in pennsylvania where the house/bank account will be will that matter?

Customer:

what do i need to show them?

Customer:

to open an account

Megan C :

No, that shouldn't matter. You just have to have a physical address.

Megan C :

You would need to show them your ID (passport)

Customer:

so i would need a utilty bill of hers or something?

Customer:

what if the bill is in her name as of course i wouldnt have any there

Megan C :

No, I've never had to show proof of address.

Megan C :

You just have to give them an address

Customer:

could i open one here with hsbc and they might be able to open one remotely for me there

Customer:

i read someone did that in london online

Customer:

i used to bank with them

Megan C :

Yes, you can open a USD account at your major banks.

Megan C :

That might be easier.

Customer:

so go to a big multi national bank and do it here beforehand

Customer:

so they wouldnt require a usa address then

Megan C :

NO, they wouldn't - you would have your UK address it's just the account would be in US Dollars

Customer:

would the check be deposited as usd and not converted to euros or pounds?

Megan C :

Yes, if the account is set up as a USD account then the check would be deposited as US Dollars

Customer:

would that take 10 days to clear?

Customer:

no more than that

Customer:

?

Megan C :

You would have to ask the bank, because I am not familiar with practices in the UK

Customer:

they can actually do it all here though right?

Megan C :

They should be able to, because you can do the opposite here in the US (open up foreign currency accounts)

Customer:

okee dokee

Megan C :

You know what would be so much easier?

Customer:

what?

Megan C :

If you open your USD account and have your sibling wire you the money

Megan C :

That's instantaneous

Customer:

yes i know but i asked you in another query earlier about that

Customer:

righto

Customer:

before i had a usd account

Customer:

her bank wouldnt do the wire

Customer:

too small towny

Megan C :

Oh okay I didn't realize that I had spoken to you before, because your name shows up as a customer number. I didn't look at your history, I apologize

Customer:

no that is ok

Customer:

i think i should try and open an account here

Customer:

do you know what banks do it for sure here?

Megan C :

I think you should too, because it is a hassle in the US if you are foreign

Customer:

okee dokee thanks!

Megan C :

I would think HSBC, Bank of America (if they have a London office)

Customer:

ok!

Megan C :

Anything else I can assist you with today?

Customer:

no thks

Megan C and other Finance Specialists are ready to help you
Thanks, Anne for your positive rating. It was good to talk to you again! In the future, you can contact me directly by placing "to Megan C" in the subject of your question.

It was a pleasure working with you today.