Hi guys I want to expand my business and compete in the global market but in order to do this I need to open a US bank account so I can get bank payments from paypal, 2checkout etc. I'm currently in South Africa and lived in the US for 7 years when I was a kid. Luckily my mom got us social security numbers before we left. Is it possible for me to open an account if I'm not a resident but have a social security number ?
The individual with a social security number should be able to open a bank account online. A social security number is not needed to open a bank account, but most all banks will ask for it. It helps to protect them. But if the account is interest-bearing, the SSN is needed to report interest to the IRS. You can usually open a bank account with most banks by walking into the bank - this helps to satisfy the you know your customer (YKYC) rule. Online, it is a bit more difficult but asking for the SSN helps to satisfy this rule. Bank of America is (was) usually really easy to open a bank account when you were in the United States. They might be pretty easy to open one online as well. With a US Bank account, you might be able to get a merchant account as well from some US merchant account providers if needed. If you have permission, you might be able to open a merchant account in the United States with "United States" rates, not international rates. PayPal might need the SSN if you want to process more volume as well. Keep in mind - you want to do everything in the person's name that holds the SSN and have her permission. PayPal will monitor your IP address as well so consider that as well when opening the accounts. Were you also born in the United States or just lived here?
I am guessing you mean offering a US bank account (instead of US account)? I would probably stay away from these companies - a US bank account is very different from an e-book. Most legitimate banks in the United States have a set of goals, and I don't think e-books is one of them. You would want to go to the bank's official web site and verify you are on the bank's web site before entering any personal data. And if you are buying an e-book, the company should not need your social security number.
I lived there from 1989 - 1996. Since I was 5-12. I currently have a social security number, but I dont live in the states at the moment. My sister was born there though. I'll check the official bank websites.
If you have a valid social security number, you could / should (be able to) use this number to open a bank account and possibly a (United States) merchant account with that information. Some merchant account providers will open a merchant account with your SSN. If you are a member of Costco or Sam's Club, you might check out there offers. CDGCommerce might be able to help you as well. Some providers might also require another form of ID, if you have a passport, that might suffice.
You can use citybank online. .............. Thank you for your message regarding your interest in opening a Citibank account. It would be my pleasure to provide you with this information today. For information about the current account types and online services currently offered by Citibank, please visit www.citi.com and click on the 'Products and Services' link under the Welcome tab. Citibank has a specialized department that can assist foreign residents with applying for a Citibank account. The International Personal Banking (IPB) Unit can be reached at (813) 604-3299; they are available Monday through Friday from 6:00 a.m. until 9:00 p.m. ET. Our goal is to provide exceptional client service with each of our valued clients, working together to meet their financial needs. If you have further questions, please send a message or call MyCiti Online Customer Service at 1-800-374-9700. Representatives are available to assist you 24 hours a day 7 days a week. Thank you for using MyCiti. We appreciate the opportunity to serve you. Sincerely, MyCiti Online Customer Service ..........................................................
Does Citybank have branches in European Countries so one can easily transfer between different accounts (EUR and USD) ?
Yep. They do have But when you open a Citybank account in Europe, they do have high requirements (a big deposit) - You have to check this
Most of the banks are asking for a us residential address which I don't have as I'm abroad, is there a legal way around this ?
You might consider getting one of those mail forwarding services. Banks and merchant account providers usually accept them. One of the problems with using them though: from time to time banks and merchant account providers will look up your address (especially on the MATCH list). If this address shows up, it might raise a red flag with the company.
Thats the thing, I currently have a mail forwarding address with myus.com I can always use that address, it just feels a bit wrong knowing how strict banks are.
So far, I have only heard of the problem re: the MATCH list. Most of the time, corporations like to "act stupid". Meaning they know the truth, but the user has entered this information and we are going to go with that. I cannot say it is legally wrong, most of the time, you would find something like that in the TOS / AUP - but more so to protect the entity. You, on the other hand, have something that a lot of people don't have, that being a SSN. Having that will usually satisfy any other requirements. I would suggest though not opening an account that is interest bearing. If any interest is earned, it can be reported and over time, it might raise a flag with another industry and then the problems could come back down to the bank account.
well, my service will work for you, you will surely get your US BANK ACCOUNT in just 15 minutes add me to YM so we can chat well.