Originally posted by beley
BTW why do you need a US bank account?
Hey pal - money is money and any respecting American capitalist knows that - how do you think George W ended up in government?
I too need a US bank account- because without one this is what happens. Customer pays me in US$. $US gets converted to AU$. I have to pay my a large proportion of my expenses in US$. So a fair chunk of my money goes US$ -> AU$ -> US$ with all the transaction fees and losses in exchanging along the way.
I'm not ready to incorporate in the US yet - but that is the solution to my situation.
I heard through the grape vine that www.thebancorp.com was the simplest US bank for an alien to open an account with - and I followed all the directions on their site - including filling in the relevant IR form and declaring that I was a citizen of Australia and thus privy to the reciprocal tax treaty, etc. However, they returned my initial depost, citing that the Patriot Act no longer restricts them from their previous procedures and practices.
I think if you are goint to pay the amount of money that Valis International wants to open an account, you might as well go the full hog and incorporate in Delaware.
I won't touch PayPal with a barge pole. I know I lose business because of this stance - but I simply don't trust them. I see no point in working to earn my money and then have it subject to the insecurities of a quassi-bank which can "suspend" my account and with-hold my money at any time. No thanks.
I could open a US$ account with a bank here in AU, but when I last enquired, the fees I was quoted made the idea of eating my own testicals seem quite rational in comparison.