UK Banks. Again.
Discussion
For the last year or so I've been involved in some fairly big business transactions, much larger than usual. The amount of aggravation we've had to deal with from all of the UK banks that we approached - including one that we're been using for decades is unbelievable.
By contrast we've set up several accounts in the US very quickly and easily, and even have the personal phone numbers of the wealth management team, and the email address of the Managing Director.
Couldn't be more helpful and different!
By contrast we've set up several accounts in the US very quickly and easily, and even have the personal phone numbers of the wealth management team, and the email address of the Managing Director.
Couldn't be more helpful and different!
I would be very interested to see how you managed to open a Company US bank account.
We have struggled massively.
Although not a legal requirement we have found that US banks need a SS number to open the account the EIN number will not be enough.
No SS number no account.
Our US account is linked to an officer of the US company that could leave at any time, and we are then unable to operate the account.
How mad is that or are we doing some thing wrong.
In fact only Wells Fargo would open a business account.
With substantial funds in the account and over 5 years trading history we are still unable to acquire credit cards for our sales people.
They all have to use their own and submit expenses.
Sending funds back to the UK is a 4 hour experience every other month with an appointment needed
I could go on and on but would appreciate some insight into how you did it?
I find Uk banks much easier
We have struggled massively.
Although not a legal requirement we have found that US banks need a SS number to open the account the EIN number will not be enough.
No SS number no account.
Our US account is linked to an officer of the US company that could leave at any time, and we are then unable to operate the account.
How mad is that or are we doing some thing wrong.
In fact only Wells Fargo would open a business account.
With substantial funds in the account and over 5 years trading history we are still unable to acquire credit cards for our sales people.
They all have to use their own and submit expenses.
Sending funds back to the UK is a 4 hour experience every other month with an appointment needed
I could go on and on but would appreciate some insight into how you did it?
I find Uk banks much easier
zoomy said:
I would be very interested to see how you managed to open a Company US bank account.
We have struggled massively.
Although not a legal requirement we have found that US banks need a SS number to open the account the EIN number will not be enough.
No SS number no account.
Our US account is linked to an officer of the US company that could leave at any time, and we are then unable to operate the account.
How mad is that or are we doing some thing wrong.
In fact only Wells Fargo would open a business account.
With substantial funds in the account and over 5 years trading history we are still unable to acquire credit cards for our sales people.
They all have to use their own and submit expenses.
Sending funds back to the UK is a 4 hour experience every other month with an appointment needed
I could go on and on but would appreciate some insight into how you did it?
I find Uk banks much easier
The whole thing has been a bit of a nightmare. Been in business over 30 years with totally clean reputation, yet struggled to get any UK banks interested in some new business that we're doing. Even Lloyds who we've been with for 20+ years.We have struggled massively.
Although not a legal requirement we have found that US banks need a SS number to open the account the EIN number will not be enough.
No SS number no account.
Our US account is linked to an officer of the US company that could leave at any time, and we are then unable to operate the account.
How mad is that or are we doing some thing wrong.
In fact only Wells Fargo would open a business account.
With substantial funds in the account and over 5 years trading history we are still unable to acquire credit cards for our sales people.
They all have to use their own and submit expenses.
Sending funds back to the UK is a 4 hour experience every other month with an appointment needed
I could go on and on but would appreciate some insight into how you did it?
I find Uk banks much easier
Dealing with the US has been much easier but I guess it depends on what you're looking for. I'm using Morgan Stanley for transactions and wealth management.
Gassing Station | Business | Top of Page | What's New | My Stuff