Looking for a new U.S. bank account? Relayfi is currently my number-one choice! If you want to join them, you can increase the likelihood of being accepted through my partnership link - bit.ly/3uwbB1W
Hey there, thanks for your comment. Here’s a quick video where I interviewed the guys from Relay. - ua-cam.com/video/W7dclduMYkc/v-deo.htmlsi=uW9Et79X6d49gCAu If you skip to 8:30 you’ll see they mention that if you use our link, likelihood of you being accepted is higher. Thanks 👍🏻
USAA has closed the accounts of multiple US Government employees serving abroad on US Government orders with their Government salaries direct deposited into their USAA account. It's insane how this happened. This is why I always have multiple bank accounts with multiple banks.
Great videos. Just an fyi, mercury charges $15 for wire transfer to overseas as opposed to Wise who charge the double $32. Keep up the good work. Your channel is by fast the best on UA-cam!
As a US expat living abroad Wise is my go to transfer and multiple currency card/bank. The key to remember with wise, have a us address on that card, some countries I have lived in wise will not send you a new card. FYI
3:39 i have no problem using Mercury. Stripe payments goes directly to them. Then, savings would go to BoA. Then that BoA account is used to get loans etc. All BoA see is MONEY IN. All expenses paid via Mercury, and I would do transfer and debit transactions in counntries they are favourable with.
Very useful information. I had an account with Mercury i thought they were great, better than the physical bank i have here in Africa. No problem paying myself. Still have another one though. Thanks
Just had your account closed or looking for a backup account? Relayfi is currently my number one choice for a U.S. bank account! If you want to join them, you can increase the likelihood of being accepted and get priority support through my partnership link - bit.ly/3uwbB1W
@vistagraphsnet 9 days ago Bank of America is by far the worst. On April 24, 2024 I received an email from BofA saying i successfully activated Face ID. I am 83 and would never use face ID because I use a password and my family knows how to get into my account upon my demise. So I tried to access my account and was not able to so I called Bank of America and was informed that an IP address from outside of the US used my account and I was responsible. They claimed I had to have given someone my password outside of the US. They immediately closed my account. I have been a BofA customer since 1987 with never a bounced check or other problem. I have had two direct deposits with them since I retired in 2004. Because they would not let me access the account, I could not get the bill pay information who I pay, phones and addresses. Both direct deposits were returned and in the case of Social Security it will be six weeks before they can direct it to my credit union account. The CALPERS retirement check was returned and it will take three weeks to receive it at my credit union account. I know no one outside the US so have no idea who could have changed to face ID. Today I received a letter from BofA stating my information has been entered into a database all banks use and I will not be able to open another account with any other bank for five years. Please put BofA on top of your list. Everyone should be warned that this could happen to them.
You look genuine despite the self promo don't get me wrong go ahead i see you just tryna share info and provide values international banking is something i am really interested in, fo sure subscribing my man 🤝
Thank you sir! Very helpful. What do we do if a bank closes our account? May I ask, what are the steps to secure ur money here in the USA or abroad? That could be an interesting and useful video.
@franszwaan2632 Hi there, I'm interested in sending money from Mercury to a Costa Rican BN account. Do you use Wise? Any info would be appreciated as I just started to set up my LLC banking. Thanks!
Brooo.. your videos are super fire. I have been searching months for US checking account. I found a solution with your video with High Beam. Thanks a lot for your insights
What if I use a Credit Card from one of these banks such as Bank of America abroad and then pay the balance through main checking? Will it still trigger some risk?
The majority of banks in the UK require the actual presence in the country. They don't even bother to open a bank account for nonresidents, even for business owners , so the only option is online or digital banks, but they become more difficult now
i live in lebanon , and i am looking into opening LLC in the US, so that i can sell to US citizens, my question is ,do i also need to have a US based bank account? or i can simply use Wise from USA or stripe payment gateway on my website to send money to my business bank account here in lebanon ?
The banks won't just release the funds to anyone. Criminal would need to know your bank details too. If your account gets hacked they will send the funds to themselves but banks have a lot of safeguards to protect this. Stay safe!
Ya put a dollar in a bank you are lending the bank money and they owe you. Ya take your money the bank has to pay and there are rules designed to make it hard for you to get your money. They take your money and transfer to the Federal Reserve and get short term T Bills making money on their debt. The bank gets to take their debt off their books....
The best idea. Im doing it now. Depending on the country you're planning on retiring in, Open a Wise account and a Mercury as well as Payoneer accounts. Gradually transfer from your lical bank account to Wise, mercury and/or payoneer. From there, you can easily transfer money to your overseas accounts. Just make sure to do it in smaller amounts on the first let's say 3 months so that your accounts dont get closed, and then increase the transfer out amounts. Best of luck
Great pieces of advice as always ! Thanks for that. Personally I had great difficulty moving money (25 K USD) from my Chase account to a well-known broker in the UK (eToro), and no criptos buying by the way... The transaction was blocked 5 times...and that was possibly because I was in Spain... Do you advise having a VPN to simulate presence in the US when you want to wire money out?
My second question James? How a non resident with a banking account in the US (Chase) can establish some credit score.. and benefit from it some day (mortgage, etc) if you don't have the social security number, since you are a non resident. All you can provide is a ITIN as member of an LLC.. Thanks much in advance for your insights here ;)
My question is how do I keep my bank acct in the US (Schwab) open and Credit Card accts without having a residential physical address in the US. I am retired and want to move to Panama or somewhere in South America and just withdraw money from my US acct as need it, and continue to use my Credit Cards abroad?
You should keep an address in the US and make sure all your banks are using it. I was withdrawing lots of cash from my Schwab account and they threatened to close it. They said the reason for the closure was that it seemed like my primary residence was no longer in the United States. I think the real reason was the excessive ATM usage. I chatted with their customer support and said that soon I will go back to my primary residence in America. I stopped using my ATM card, and they let me keep my accounts. But it does seem that Schwab has a policy that you need an address in the US. Hopefully someone in your family would be willing to help you with this.
@@mrkcur thank you for the reply, unfortunately I don't anyone who I would feel comfortable using their address. It's the one issue that is keeping me here in the US. Thanks
There are many mail forwarding companies - just search online. You can rent an address box and they will check your mail and scan it for you. It only cost $10-20 per months. Look up old youtube video called: mail forwarding for nomads. Another thing you should worry - most banks require you have US phone number to access online. Solution: set up all automated that you don't have to access your bank account from abroad at all and don't use your bank cards overseas either. Only use money transfer services and their cards - which are mentioned in the vid. PS: just make sure don't tell your bank your address is a PO Box. When you change address at the bank - write it as its a apartment number. Its also good idea to change new address to your DL so you could use it as proof of address if ever needed.
@@CarlosEBernalI haven't tried this myself yet, but have been looking into an option some of the expats in Ecuador have recommended: "Traveling mailbox". It reportedly gives you an actual physical US address to use. They dump any junk mail, scan the rest, and email you a link. If you don't want to keep it after 30 days they shred it. If you do want something they'll store it, and send it to you physically for an additional fee. I'm also told if you use a Charles Schwab account it needs to be an investor account. Hope this info helps.
@@CarlosEBernal I understand Traveling Mailbox gives you a physical US address, you may want to look into it. Also, a Charles Schwab investor type account is recommended by those who expatriate. Hope this helps.
In Your videos you mentioned that Relayfi allows Pakistani Citizenship but I'm checking right now .Its not allowing Pakistani Citizenship . Could you please guide me about this?
The stuff I mention in the video.. But it's obviously all my opinion and speculation I don't work for the banks or know why they close accounts but I've hand many accounts and accounts closed. Just sharing my experience thanks for watching
I am using mercury at the moment but just receive email that they don't accept PO box and and now they ask me to send proof I have customers in the US... I opened an account on relay and it was not so easy because they needed a proof of address in english (I live in spain)... In the end I solved it, so If mercury closes my account I will move to relay :)
@@josenaranjo1851 i had to send proof I had customers in the us, i was lucky i had 1 invoice. Fiverr is great for this because there is a lot of us people there if you offer services
Wells will not accept cash deposits of any amount. If you have a friend who owes you $20, they will make them purchase a Money Order to deposit it. It's all just a fee scam.
Hi I had an account of Chase bank but now they had said that they are closing my account. I'm from Pakistan. Please suggest what to do. I was doing FBA on Anazon with single person LLC
Hi. Were you sending too many wires from US to Pakistan? that might be the reason. Bank of America recently closed my account without telling me the reason, but I think it was because I was paying to a company in Pakistan and sent high amount of wires. I am planning to open new account and use Wise and other ways to transfer in smaller amounts. If you want to partner with me please let me know. I have an LLC here in US and I am based in USA.
Sir I need you to help me fill tax return documents for my waymiong company. Can you give me your email address that I send you information and also give me cost. I need a tax return for my mercury bank. I hope you answer me as soon as possible
Hi, Thank you for reaching out! We usually reply to all your questions during our calls, if it wouldn’t be an issue for you, you could set up a meeting following this link: jamesbakercpa.com/schedule It’s a free consultation!
Looking for a new U.S. bank account?
Relayfi is currently my number-one choice!
If you want to join them, you can increase the likelihood of being accepted through my partnership link - bit.ly/3uwbB1W
ok but why you lyin though
that link has 0 impact
Hey there, thanks for your comment.
Here’s a quick video where I interviewed the guys from Relay. - ua-cam.com/video/W7dclduMYkc/v-deo.htmlsi=uW9Et79X6d49gCAu
If you skip to 8:30 you’ll see they mention that if you use our link, likelihood of you being accepted is higher. Thanks 👍🏻
Non 🇺🇸 citizen can open a bank account there?
@@vonGrundherr watch the interview video I did with the bank manager man! He told me it does
A hassle for non US residents. Discriminatory for many African citizens
I have loads of credit card debt, they are never closing me lol
Open a synochny bank or related bank to them will cancel with 2 missed payment in one year had three closed on me
the 2 arent connected
Buying precious metals outside the bank also helps ❤
Shame we can't close the banks.
there will be closings & have been
That's gonna happen soon enough....
@@jedclampett6466 Nah. The government wil just continue bailing them out.
USAA has closed the accounts of multiple US Government employees serving abroad on US Government orders with their Government salaries direct deposited into their USAA account. It's insane how this happened. This is why I always have multiple bank accounts with multiple banks.
Crazy story. But yes this is it big banks are just algorithms not relationships
LOL😂
Great info James !!
This was really helpful. Love to see more
Thank for the information.
America just gets worse and worse.
Quit your whining and do something with your life
They say to me we dont need outsider we have enough people in the usa. That wat they say to me
Join your local credit union.
Another workaround is to bring cash when traveling internationally. Just check the laws in both countries.
Your videos helps so much and you always keep things simple I love that about your channel
Glad you like them!
Life saver!! Thanks
nice one thanks
Great videos. Just an fyi, mercury charges $15 for wire transfer to overseas as opposed to Wise who charge the double $32. Keep up the good work. Your channel is by fast the best on UA-cam!
thank you for the advice
This actually happened to me earlier this morning, thanks for the timely video James
Man, it's sad, have you been warned or they just did suddenly?
Sorry to hear this, it happens to a lot of poeple (including me). I hope this video has helped you!
This is key. Thanks from Argentina.
Very helpful thanks James. Once I am making real money I will come over.
YOU ARE BEST ONE TALKING ABOUT US COMPANIES
Thaaaaanks you are the best one at leaving comments!
love the painting in the background...
Me too.... It's not the original... Wink wink haha
Join a credit union thats owned by its members and operates for its members.
As a US expat living abroad Wise is my go to transfer and multiple currency card/bank. The key to remember with wise, have a us address on that card, some countries I have lived in wise will not send you a new card. FYI
I like your style brother
3:39 i have no problem using Mercury. Stripe payments goes directly to them. Then, savings would go to BoA. Then that BoA account is used to get loans etc. All BoA see is MONEY IN. All expenses paid via Mercury, and I would do transfer and debit transactions in counntries they are favourable with.
Perfect! Yes this is the way
Same reason I never give a bank the reason I fire them. It always muffs em .. with a sqeeky, confused grimace. Bounce. Money talks, mine hikes.
Very useful information. I had an account with Mercury i thought they were great, better than the physical bank i have here in Africa. No problem paying myself. Still have another one though. Thanks
Just had your account closed or looking for a backup account? Relayfi is currently my number one choice for a U.S. bank account!
If you want to join them, you can increase the likelihood of being accepted and get priority support through my partnership link - bit.ly/3uwbB1W
@vistagraphsnet
9 days ago
Bank of America is by far the worst. On April 24, 2024 I received an email from BofA saying i successfully activated Face ID. I am 83 and would never use face ID because I use a password and my family knows how to get into my account upon my demise. So I tried to access my account and was not able to so I called Bank of America and was informed that an IP address from outside of the US used my account and I was responsible. They claimed I had to have given someone my password outside of the US. They immediately closed my account. I have been a BofA customer since 1987 with never a bounced check or other problem.
I have had two direct deposits with them since I retired in 2004. Because they would not let me access the account, I could not get the bill pay information who I pay, phones and addresses. Both direct deposits were returned and in the case of Social Security it will be six weeks before they can direct it to my credit union account. The CALPERS retirement check was returned and it will take three weeks to receive it at my credit union account. I know no one outside the US so have no idea who could have changed to face ID. Today I received a letter from BofA stating my information has been entered into a database all banks use and I will not be able to open another account with any other bank for five years. Please put BofA on top of your list. Everyone should be warned that this could happen to them.
I believe it’s cubby a anti-money, laundry, procedure, which banks have threat internal procedure and etc.
Suntrust did this to me...AVOID them
You look genuine despite the self promo don't get me wrong go ahead i see you just tryna share info and provide values international banking is something i am really interested in, fo sure subscribing my man 🤝
Thank you sir! Very helpful. What do we do if a bank closes our account? May I ask, what are the steps to secure ur money here in the USA or abroad? That could be an interesting and useful video.
How can we get our money back ?
Imagine having restrictions on your own hard earned money lol
Can imagine that but it's really not funny..
I do the same with costa rica too. Skrill is a good provider as well
I'll check out skrill
@franszwaan2632 Hi there, I'm interested in sending money from Mercury to a Costa Rican BN account. Do you use Wise? Any info would be appreciated as I just started to set up my LLC banking. Thanks!
Were tgese closings before you became certified?
How can we get our money back ?
I know of one way, but it involves prison time. “LOL” 🤣🤣🤣
Brooo.. your videos are super fire. I have been searching months for US checking account. I found a solution with your video with High Beam. Thanks a lot for your insights
They dont have to in the UAE either. Ours was closed without any reason.
What if I use a Credit Card from one of these banks such as Bank of America abroad and then pay the balance through main checking? Will it still trigger some risk?
They can sanction any country at will, closing any account is a small thing 😅
What about flywire?
At the bank I used to work for, they'd close accounts all the time. And if one account closed, they'd always always close the rest.
Wise fees seems to be getting high
The majority of banks in the UK require the actual presence in the country. They don't even bother to open a bank account for nonresidents, even for business owners , so the only option is online or digital banks, but they become more difficult now
a new banking is coming avsbanking
i live in lebanon , and i am looking into opening LLC in the US, so that i can sell to US citizens, my question is ,do i also need to have a US based bank account? or i can simply use Wise from USA or stripe payment gateway on my website to send money to my business bank account here in lebanon ?
What stops a criminal 3rd party actor from triggering an account closure by manipulating known triggers and then stealing the funds?
The banks won't just release the funds to anyone.
Criminal would need to know your bank details too.
If your account gets hacked they will send the funds to themselves but banks have a lot of safeguards to protect this. Stay safe!
Don’t give them ideas…
Perhaps Old Glory Bank?
Ya put a dollar in a bank you are lending the bank money and they owe you. Ya take your money the bank has to pay and there are rules designed to make it hard for you to get your money. They take your money and transfer to the Federal Reserve and get short term T Bills making money on their debt. The bank gets to take their debt off their books....
Oh yes I did that with fifth third. I used to ask all my friends to zelle me money in fifth third. Then I withdrew it all and theynclosed my account
Classic.. zelle is another thing they hate
I have had this happen. I figured they did not tell me anything to cover their ass and not to be sued over their imaginary problems.
Once account is closed have you tried reopening account? Does that work?
What about retiring overseas and taking all your money with you?
The best idea. Im doing it now. Depending on the country you're planning on retiring in, Open a Wise account and a Mercury as well as Payoneer accounts. Gradually transfer from your lical bank account to Wise, mercury and/or payoneer. From there, you can easily transfer money to your overseas accounts. Just make sure to do it in smaller amounts on the first let's say 3 months so that your accounts dont get closed, and then increase the transfer out amounts. Best of luck
@@mohammadhussein3923 that sounds a bit shady…
Great pieces of advice as always ! Thanks for that. Personally I had great difficulty moving money (25 K USD) from my Chase account to a well-known broker in the UK (eToro), and no criptos buying by the way... The transaction was blocked 5 times...and that was possibly because I was in Spain... Do you advise having a VPN to simulate presence in the US when you want to wire money out?
Same here with different countries. Chase would or could not remove Xfer block. But no account issues.
Thanks G
Problem for Europeans who work there as carpenters and builders. We got to keep our talent at home.
My second question James? How a non resident with a banking account in the US (Chase) can establish some credit score.. and benefit from it some day (mortgage, etc) if you don't have the social security number, since you are a non resident. All you can provide is a ITIN as member of an LLC.. Thanks much in advance for your insights here ;)
Only way is to be a US citizen. in 2024 they very paranoid. Credit card compagny dont like ITIN number you need SSN. i do i know i ben there last year
@@nicksky4642 yea that’s where in bump into a wall. I have ITIN, but no SSN since I’m not a resident. So I guess no solution
My question is how do I keep my bank acct in the US (Schwab) open and Credit Card accts without having a residential physical address in the US. I am retired and want to move to Panama or somewhere in South America and just withdraw money from my US acct as need it, and continue to use my Credit Cards abroad?
You should keep an address in the US and make sure all your banks are using it. I was withdrawing lots of cash from my Schwab account and they threatened to close it. They said the reason for the closure was that it seemed like my primary residence was no longer in the United States. I think the real reason was the excessive ATM usage. I chatted with their customer support and said that soon I will go back to my primary residence in America. I stopped using my ATM card, and they let me keep my accounts. But it does seem that Schwab has a policy that you need an address in the US. Hopefully someone in your family would be willing to help you with this.
@@mrkcur thank you for the reply, unfortunately I don't anyone who I would feel comfortable using their address. It's the one issue that is keeping me here in the US. Thanks
There are many mail forwarding companies - just search online. You can rent an address box and they will check your mail and scan it for you. It only cost $10-20 per months.
Look up old youtube video called: mail forwarding for nomads.
Another thing you should worry - most banks require you have US phone number to access online. Solution: set up all automated that you don't have to access your bank account from abroad at all and don't use your bank cards overseas either. Only use money transfer services and their cards - which are mentioned in the vid.
PS: just make sure don't tell your bank your address is a PO Box. When you change address at the bank - write it as its a apartment number. Its also good idea to change new address to your DL so you could use it as proof of address if ever needed.
@@CarlosEBernalI haven't tried this myself yet, but have been looking into an option some of the expats in Ecuador have recommended: "Traveling mailbox". It reportedly gives you an actual physical US address to use. They dump any junk mail, scan the rest, and email you a link. If you don't want to keep it after 30 days they shred it. If you do want something they'll store it, and send it to you physically for an additional fee. I'm also told if you use a Charles Schwab account it needs to be an investor account. Hope this info helps.
@@CarlosEBernal I understand Traveling Mailbox gives you a physical US address, you may want to look into it.
Also, a Charles Schwab investor type account is recommended by those who expatriate. Hope this helps.
How do you keep a US phone number. VoIP numbers are usually tracked and flagged. Banks like chase need to send 2 mehthod authentication. Any tips?
I use iplum to get my voip numbers. They work just fine with banks and authentications.
Is the money safe in wise? Is it covered by any insurance?
No FDIC insurance in wise. But check their platform
In Your videos you mentioned that Relayfi allows Pakistani Citizenship but I'm checking right now .Its not allowing Pakistani Citizenship . Could you please guide me about this?
So what closes 90% of non res US bank accounts?
The stuff I mention in the video.. But it's obviously all my opinion and speculation I don't work for the banks or know why they close accounts but I've hand many accounts and accounts closed. Just sharing my experience thanks for watching
I am using mercury at the moment but just receive email that they don't accept PO box and and now they ask me to send proof I have customers in the US... I opened an account on relay and it was not so easy because they needed a proof of address in english (I live in spain)... In the end I solved it, so If mercury closes my account I will move to relay :)
How did you solve it if you don't mind me asking?
@@josenaranjo1851 i had to send proof I had customers in the us, i was lucky i had 1 invoice. Fiverr is great for this because there is a lot of us people there if you offer services
Wells will not accept cash deposits of any amount. If you have a friend who owes you $20, they will make them purchase a Money Order to deposit it. It's all just a fee scam.
When you know how money works you simply use crypto to transfer money. Banks are just transfer points.
Hi
I had an account of Chase bank but now they had said that they are closing my account. I'm from Pakistan. Please suggest what to do.
I was doing FBA on Anazon with single person LLC
Hi. Were you sending too many wires from US to Pakistan? that might be the reason. Bank of America recently closed my account without telling me the reason, but I think it was because I was paying to a company in Pakistan and sent high amount of wires. I am planning to open new account and use Wise and other ways to transfer in smaller amounts. If you want to partner with me please let me know. I have an LLC here in US and I am based in USA.
Could of sent bitcoin
Is Coinbase a Bank?
Nope, it's a crypto dealer but also can some fiat money so you have a kind of bank account
@@roberthaupt8664 Thank You for Your reply, but can You spellcheck, rephrase and or elaborate a little on Your answer? I appreciate it.
A bank account and passport are a right.
Sure, but how to get your right as early as needed ?
Bitcoin IS the answer to all this mess.
Paypal sucks ass 🙄
Hi James
I have a account in trynovel but they freezed my account and my money got stuck
Please help me to get money back
Have to keep emailing and calling the bank
Sir I need you to help me fill tax return documents for my waymiong company. Can you give me your email address that I send you information and also give me cost. I need a tax return for my mercury bank. I hope you answer me as soon as possible
Hi,
Thank you for reaching out!
We usually reply to all your questions during our calls, if it wouldn’t be an issue for you, you could set up a meeting following this link:
jamesbakercpa.com/schedule
It’s a free consultation!