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US Bank account

  • 02-08-2011 5:13pm
    #1
    WooPeeA
    Closed Accounts Posts: 1,136 ✭✭✭


    I decided recently that I want to enter an American stock market. I found few good companies that are worth all efforts IMO.

    To make my life easier I need a US bank account to transfer money between my US broker account and bank account quickly and at any time.

    I called few banks in the US but they don't really serve people living in Europe. Those that do, require an appointment in person which is not possible for me at the moment.

    Do you know any bank that can open an account for non-US residents without a personal appointment? I've heard that opening an account became that hard after 9/11 and Patriot Act signed by Bush... Was so easy before.


Comments

  • #2
    OfflerCrocGod
    Registered Users, Registered Users 2 Posts: 6,334 ✭✭✭OfflerCrocGod


    Are you sure you can't buy these companies from European based trading platforms?


  • #3
    WooPeeA
    Closed Accounts Posts: 1,136 ✭✭✭WooPeeA


    I probably can but there are some issues:

    1. Sometimes it might be complicated to pay taxes in both a country of an account and Ireland. Especially in Europe where exchange of information occurs and your error might get quickly noticed.

    2. Commission fees are usually higher than the ones in the country of investment. Those offered by Irish brokers are a joke so I won't even mention those ones. And if you trade a lot and make lots of transfers you lose some money on currency exchange.


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