US Bank Account

[Chill_Factor]

Hey guys, Im starting a small business but since it involves receiving money via paypal, it's been difficult since Trini accounts do not have the ability to receive with paypal. Is it possible to sign up for a US bank account (savings account or something) as an international customer and use my florida skybox as the address?

I'd like to be able to convert the money into physical form at some point and I dont want paypal closing my account randomly if they find out Im doing it via my credit card alone with the skybox address... i feel safer with the bank account method. Anyone have ideas? Thanks.

[shaneelal]

Don't think it will be possible, you'll most likely need a US Social Security number. I believe paypal also asks for your Drivers permit to confirm your address.

[Shawn2010]

bumpa

[Michael Knight...]

What you can do is if you have a friend in the U.S that you trust, when you're ready to get your money out of your paypal account, you can send your funds paypal to paypal and then let them withdraw it from their U.S bank account. After that they can just wire it to you via Western Union or something.

[xtech]

dont trust friends period................if u got a uncle or aunt or cousin use them

blood thicker than water

[crazychinee]

dont trust friends period................if u got a uncle or aunt or cousin use them

blood thicker than water

There are lots that will disagree on that.

[xtech]

well with specific reference to money matters...........i dont trust friends that far away

[Chill_Factor]

Wow this sucks. Thanks guys for the info.

Well I dont have enough trusting friends and well family...*pshh* a bunch of back stabbers. I guess unless Trinidad updates their banking constitution, we stuck.

A friend of mine did it where he signed up for a republic debit visa and then signed up for a US premier account with his skybox address. It verified for some reason, so this means he could spend money, as well as "receive" money into that temporary float on paypal.. so he'd have an online balance, but he cant convert that to physical cash unless he attaches a bank account. That sounds like an alright idea but somehow I think they will catch up sooner or later. With me trying to run a business, I dont wanna ear a substantial amount and then just lose it like that. (mostly to be used to pay for server hosting and paying staff via paypal as well)

[trini_ravi]

yea you can open an account with your passport and major credit card, no social required but you can't apply for a credit card. you can get a savings or checking account with debit card.

if the bank is giving you a hard time you can visit a social security office and they'll provide you with a letter for banking.

[Chill_Factor]

yea you can open an account with your passport and major credit card, no social required but you can't apply for a credit card. you can get a savings or checking account with debit card.

if the bank is giving you a hard time you can visit a social security office and they'll provide you with a letter for banking.

I've got a VISA Debit card from republic and passport of course. Good enough or would they need it to be a Credit Card?

[Kinday]

Depends on the bank you apply to but yes you can get a bank account opened in the US, checking, savings and debit card once you apply in person with proper identification as the previous post said. If you want to apply online, you can try Suntrust or HSBC.

You will have to use a valid US address so if your skybox company can support it....you're safe.

With regard to you earning a US income (even if it was solely interest accumulated as the savings account entitles you to a US income), for the purposes of IRS the bank WILL provide you with a W8-BEN form which in essence identifies you as an alien and as a result you are subjected to a withholding tax of 30% of your earned income as specified in the treaty between the US and other nations. There are other forms if you desire to protect yourself from such a hefty tax but you must show ample proof to support your request for stay.

Please be aware that not all banks are very friendly with Paypal and the ACH procedures for transferring money to and from Paypal's escrow system. That is to say, delays and fees. So keep that in mind, do your research and choose your bank wisely.

[M_2NR]

well with specific reference to money matters...........i dont trust friends that far away

x2 be careful

[Chill_Factor]

Depends on the bank you apply to but yes you can get a bank account opened in the US, checking, savings and debit card once you apply in person with proper identification as the previous post said. If you want to apply online, you can try Suntrust or HSBC.

You will have to use a valid US address so if your skybox company can support it....you're safe.

With regard to you earning a US income (even if it was solely interest accumulated as the savings account entitles you to a US income), for the purposes of IRS the bank WILL provide you with a W8-BEN form which in essence identifies you as an alien and as a result you are subjected to a withholding tax of 30% of your earned income as specified in the treaty between the US and other nations. There are other forms if you desire to protect yourself from such a hefty tax but you must show ample proof to support your request for stay.

Please be aware that not all banks are very friendly with Paypal and the ACH procedures for transferring money to and from Paypal's escrow system. That is to say, delays and fees. So keep that in mind, do your research and choose your bank wisely.

Thanks. Im wondering if it's worth the effort at this stage. What's happening is I run a small PC related news site, where most of the money comes from ad revenue, so I get cheques in the mail from Google, Context Web etc... however I wanted to add a section where people (employers) could post related jobs in the field so the other guests could see it... all at a small fee... since it's not my main business model, Im not worried about losing profits and so on. However if the site becomes big enough, where I could charge a decent posting fee, I will consider going through the relevant processes. SO it's not a get rich scheme or my main way of earning cash.

HSBC seems to be a good option, as a few other people from around the world did post that with a few credentials and the relevant tax forms, it can be done.

Thanks for the info all

[equipped2ripp]

criteria would differ from bank to bank... some might want you open an account with a certain minimum amount, and some might not want to open an account using a skybox address as they would want a physical address.

depending on what state you're opening the account in, then I can tell you what banks to try. if it's FL or NY, you can try Bank of America or Wachovia/Wells Fargo.

[Jack the Ripper]

Was in TX for training and a NIGERIAN co-worker managed to open a checking account at Bank of America with his passport. Pretty simple account, internet banking is standard, didn't need a US address but he did have to supply name & address of a US resident as a reference.

[EFFECTIC DESIGNS]

You can do it from Trinidad.

Scotia Bank offers the service where you can receive the money in your Trinidad bank account.

However setting up the service costs about $4500 or something like that.

Lots of disadvantages of not living in the US but the same can also be said about right here at home.

What Trinis pay for to live in someone's rat infested basement in NY, you can probably live off for months in Trini at your own home. Don't be to down if you do not succeed. There are a lot of other opportunities in Trinidad if you look harder and you willing to make a sacrifice for.

Above all DO NOT try to Fool Pay Pal because they will ban your account. I know people went to the ends of the earth to try and buy off Newegg with Pay Pal and they get Nailed on both sides.

[_Panther_]

Why not use 2checkout + apply for the debit card?

[Chimera]

all you need is a copy of your Trinidad passport as well as a US address, i not sure if they will accept a skybox or post office box address though.

I used family and friends addresses and opened 3 accounts last week with just $50 US per account.
I emailed the bank a copy of my passport page.