Some Colombians want to open a savings account in a bank in the United States, Because this way they don’t have to convert from Colombian pesos to dollars to make online purchases, they may be thinking about leaving the country and doing this will help them speed up the process a little or because they are simply there to spend their Want to save savings.
Start the process of opening a bank account in the United States with ColombiaThis is possible through Colombian banks that have branches in that country, Furthermore, it is important to highlight that the possibility of opening these accounts is limited to certain people or companies, who must meet specific requirements related to the nature of their activities.
Another option to consider is digital platforms like PayPal or Payone instead of traditional bank accounts. These platforms offer an online account opening process with minimal requirements.
(Be sure to read: Bancolombia details four plans for users opening an account for the first time).
But if your goal is a savings account In a bank, you should keep in mind that the opening process may differ depending on the unit, However, according to the ‘Global 66’ web portal, these are the steps you generally need to follow.
Additionally, you should review the banks’ requirements, as not all of them allow non-residents to open an account.
1. Choose the right bank
In the United States, there are many banking institutions, and some of them have standards that are not as strict for those who are not residents. For this, you have to do good research and compare banks to identify which one suits your needs. In terms of rates, services and ease of opening an account.
You should note that the account opening process may vary depending on the entity.
2. Gather required documents
Typically you will need these documents:
- valid passport.
- Proof of address (this can be a utility bill or bank statement from your home country).
- Tax Identification Number (this could be your Social Security number if you have a Social Security number, or your Individual Taxpayer Identification Number (ITIN) if you don’t have a Social Security number)
- Some banks may also require a US email and phone number
3. Open Account
Some banking institutions make it possible to open an account online, but there are also some that only perform the process in person.
(You may be interested in: Beware: With this fraud they are trying to steal from civil income beneficiaries).
Upon opening your account, you may need to verify it through a transaction, either by depositing money or making a direct deposit., It’s important to note that each bank has specific requirements and procedures, so these steps may vary.
Additionally, it is important to note that banking laws and regulations can change, so it is advisable to get the latest information directly from the bank.
It’s worth noting that opening a bank account in the United States may have tax implications.Therefore, it is recommended to consult a financial or tax advisor before carrying out the said process.
Daniela Lararte Assad
Digital Scope Editorial
Time
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You can get these benefits from opening a savings account