How to open a bank account in the United States

Hello, we are KEDP Anzhi Qinzi, and we will answer your questions below.

In addition to visiting relatives and friends, enjoying delicious food and enjoying beautiful scenery in the United States, the author thinks that the most important thing is to open a bank account in a local bank in the United States in advance. Whether you immigrate to the United States or invest in the United States in the future, you will inevitably go shopping in the United States. If there is a foreign credit card, the credit card company will charge a certain fee. If you often go to the United States for business or tourism, it is much more convenient to open a bank account and get a check and an ATM card (debit card) at the same time. To open an account in the United States, we simply distinguish between individual households and corporate households, briefly as follows:

Opening an account for an individual is easier than opening an account for a company. In the Chinese-speaking areas of big cities, big banks like Bank of America and Citibank all have staff who can speak Chinese. As long as the following information is prepared, it can be completed in about half an hour.

First, considering the choice of bank, it is suggested to join the FDIC (Federal Deposit Insurance Corporation), that is, if the bank fails, the deposit amount of depositors within $250,000 will be guaranteed. Moreover, chain banks in the United States are unlikely to fail, and there are many ATMs, so it is easy to withdraw money and save money.

2. Carrying documents: passport to the United States and photo documents, such as American ID card or international driver's license (double documents are required).

3. English address: In order to send bank statements and/or update ATM cards in the future, you must turn over the English address in advance, preferably with a local address. If not, you can use your friend's address temporarily.

4. USD deposit: New accounts usually need to keep a minimum deposit. If it is lower than this amount, the bank will charge a service fee (probably? 12~25? Dollars, the amount depends on the bank's policy).

Take a temporary check and tell me to print the most basic check so that I can use it when I need it (if you are a new immigrant, you will have to declare American tax every year, and you may need to write a check from a local American bank). Please write down your signature after you get the check, so as not to forget it when you write it in the future.

6. Test the ATM card and enter the password left when opening an account to confirm whether you can withdraw money.

7. Most banks provide online banking services. Please apply for this service when you open an account. When you return to China, you can still pay or check your account balance.

8. If a new immigrant has just reported to the United States and obtained a green card, and it is the first time to open an account in an American bank, he can try to apply for a secured credit card and put a credit card limit in the account, thus establishing credit in the United States. After using it for one year, he can immediately obtain a local credit card in the United States and establish a local credit in the United States to facilitate the payment of loans or related consumption in the future.

9. If you are not an American citizen, a green card holder and have no American social security code, you want to open an account with Citibank. In this case, you can apply for Citibank's credit card as long as you have a passport to enter the United States and an English tax payment certificate for the first three months abroad.

X. American citizens or green card holders need to fill out the W-9 form. The bank will issue the 1099 form for income tax declaration every year. If they are non-tax residents, should they fill out Form W-8? Form, as proof of exemption from interest income tax, so as to avoid withholding tax.

Xi。 If you want to make securities-related investments in the United States, the most efficient and convenient way at present is to conduct online transactions. You can choose a securities company from the following comparison table to open a securities account. In principle, you need to prepare the following information:

Fill in the account opening application form;

Provide a copy of a valid ID card with photos or a copy of the inside page of a passport;

Address proof (English address proof or credit card monthly statement, household water, electricity and gas bill, mobile phone or telephone bill opened in the bank in any month within three months);

Non-US taxpayers should fill out the W-8BEN form. Capital gains obtained by non-US tax residents from buying and selling US securities are exempt from withholding US income tax. When opening an account, please fill in the W-8BEN form provided by the IRS in order to enjoy tax exemption. However, cash dividends received by foreign investors are still subject to US government income tax (currently 30%).