A US bank account

[Transmitter Man]

Does anyone know if it's possible to open a US business bank account without actually visiting the country?

I have no concerns in supplying any documentation required.

I'm aware of Transferwise but looking for other options.

Thanks.

[Mr Overheads]

The Forex provider we use has free accounts in any currency you want. Send me a pm if you would like an intro.

[The Moose]

Send me a PM with more info. This is exactly the type of thing I can help with.

[williaa68]

Can you use a revolut business account? Would probably be the cheapest option?

[psi310398]

My wife has a $ account with Citi that she opened here in the UK. She uses it to pay and get paid from US bank accounts.

It is worth pointing out that paying between banks in the Us especially between different states is a clunky and time consuming process. In almost every case Transferwise will get the funds into an account faster...

[Transmitter Man]

Thanks all for the suggestions.

I will message each of you.

I export to and import from the US so would like to try and reduce my costs by keeping USD funds.

I use Stripe with my online store so that covers my GBP & EURO accounts with HSBC however even though I have a USD A/C in London with them Stripe can only pay any incoming USD funds into my GBP account at not so Kosher banking exchange rates.

So, I am weighing up all options at the moment.

I wish to try and keep any fees as well as interbank transfer times to a minimum.

[jammy-git]

TransferWise allows you to have multiple accounts in different currencies.

[Transmitter Man]

Hi JG,

My issue with companies like Transferwise is this;

"To be honest, we have few users using Transferwise to receive USD, but they are experiencing failed payouts. Sometimes banks fail the payout and in the end you have to convert the amount into the default currency you have in your Stripe account and for that, you have to pay the currency conversion."

The above was from support at Stripe, a company I have had no payment issues with over the past couple of years.

Phil

[jammy-git]

I can't say I've known that to happen, or why it would, but then in all honesty I'm not using TW that regularly.

[Transmitter Man]

I am following up a couple of the other options posed so I may look again at TW if nothing else works out.

Thanks.

[psi310398]

jammy-git said:

I can't say I've known that to happen, or why it would, but then in all honesty I'm not using TW that regularly.

I've had issues from TW even getting money to Chase in NYC. I'm fairly sure it's not TW as it works pretty seamlessly everywhere else. The issue is probably with the antediluvian US banking system and having a US bank account won't overcome some of those issues.

I've resorted to using PayPal to make dollar payments.