Thread: Bank Accounts for Non-Residents.

Hi,
Does anybody know if its possible for a U.K resident can get a bank account in Australia/New Zealand/USA without ever visiting the country it's in for the purpose of business trading?
I appreciate that someone will say PayPal is the answer and they would be right but the fees for (bank to bank)cheques and paypal are high and currently the foreign exchange rate is very bad.

I appreciate that it is possible to join a "Foreign" Bank in the U.K but there is always a charge for doing so.
Is it possible to openn a bank account for free like a resident can?

Hope someone has an opinion or has done it already.

Hey T, good question actually. I'll answer briefly as I can from the US.
You could open an account here much more easily than the UK if you actually visited. All you really need is an address and some dollars. A post office box address would probably do, or a mailing address, but I know a few that don't live here that have accounts with Wachovia.
As far as it goes.. I haven't heard of anyone opening one without visiting.. The whole "money laundering for terrorists" situation has made the banks come under scrutiny and tighten up on everything.
If you actually visited the US I'd say it would be possible, even now, but that visit would cost more than even a few cheque charges.

I'm almost sure that our forum finance expert Jon Sermon, would know the answers.

Thanks for that Purps

No problem T, thought we'd have had a few other responses by now. Maybe they are all responding in private to you.

Originally Posted by purple

No problem T, thought we'd have had a few other responses by now. Maybe they are all responding in private to you.

No, no pm's except from you

Originally Posted by thearmchairdetective

No, no pm's except from you

LOL you mean it really IS that exciting?

Where are all the others lately anyway? Asleep?