Question about banking in USA

musicegbdf

OK for those bankers amongst you.

We are getting paid in USD into a UK based (Barclays) USD account. The problem is we need to actually use the dollars in the USA as well.

We can transfer the money into STG and then buy dollars or use a STG credit card/debit card , but we lose twice on exchange rates.

We cannot open a USA current account as a non resident. However, have found we can get a USD chequebook against the USD account to use in the US.

Now the question. Can we go into a branch and draw cash using the chequebook ? Assume we would have to have say a passport as ID, and only looking to draw small amounts at a time (maybe $200 or so)
just for living expenses.. The cheque will be our company cheque and we have a Visa debit card( Barclays Business card) showing the company name and my name on it . (Though this card is against the UK STG account ).... any advice? ?

jellyroll

I guess you've already  tried to get a US$ debit card from Barclays?

Another option might be a pre-paid travel card like the Caxton FX card (no affiliation) - load it with your US$ and then use it like a debit card.

musicegbdf

Tks, Barclays don't do a USD debit card. Will check out the caxton card. Would be good if u can load it with dollars. We use a post office one, but you have to load with sterling to get dollars

musicegbdf

No the caxton card is the same,have to buy usd with stg...

rocktron

Are you sure that you cannot open a Non-Resident Checking Account, and a Savings Account in the USA?

I did this at Chase, in NYC, but it was a long time ago and the regulations may have changed since then. I am surprised though, that the US Federal Bank would prevent foreign investors, and small account holders, from opening bank accounts.

I am aware that the Bank of America is the US partner of Barclays Bank, so you can make some investigations about opening a Checking Account with them. Incidentally, Barclays Bank do not have ATMs in the USA (at least in NYC). 

Check here: www.chase.com/IFS, and here:  https://www.bankofamerica.com/deposits/checking/checking-accounts.go

Useful information on Social Security Numbers for Non-Citizens:-  http://www.socialsecurity.gov/pubs/EN-05-10096.pdf

PS: Please excuse my spelling of Cheque (US Check).  

 

  

musicegbdf

Excellent thank you

musicegbdf

I will check those out...