Transferring money to K1 fiance

[Joanne82 1]

Hi. 

 

So I have read a tonne of conflicting information about obtaining a Social Security Number and opening a bank account. As soon as I find an answer somewhere, I see a different answer somewhere else.

 

I am coming over to the US on my K1 visa (finally, only 2 years!) and my fiance is in the military and given how long this took to get sorted, we will now have to move in June just a couple of months after my arrival. We will be getting married as soon as possible and pushing for a speedy adjustment of status so that we are not apart for too long. We will need to do renovations on our home asap so that it is rentable before we go. This will be funded by my savings.

 

Many sources say that you can apply for your SSN as soon as you arrive in the US and it takes 14 days. Others say that you should wait until you are married to apply for your SSN and do it all in one go with your adjustment paperwork.

Does anyone know for definite what the position is with SSN for K1 visa fiancees and how long it takes? Also does anyone have experience with opening a bank account over there on your own or whether you have to have a joint one with your spouse? Does anyone know if it's possible to just add a K1fiance or wife to the US citizen fiancee/ husband's bank account?

 

Either way I will be waiting for a good few weeks or potentially months, before I can have my own bank account. I bank with HSBC and there aren't any in Virginia where I will be moving to.

 

I would like to transfer £30,000 to my fiance before the exchange rate gets any worse and soon enough for us to do the work on the house. Does anyone know if there would be any tax implications for this cash if it was just being sent to someone who wasn't my husband yet and whether I would do better to wait until we were married and just take the hit of the reduced exchange rate predicted over the next month? Has anyone else had any experience with sending money to their fiance over there?

 

Thanks. 

 

 

 

[geowrian 22,338]

Generally, you should try to get an SSN as soon as possible. This can be done shortly after arrival on the K-1 (I think like 10-14 days?). Once married or the K-1 expires, you won't be eligible for one again until you get your EAD. Having an SSN is either required for, or makes it easier to, get a state ID, Driver's License, health insurance (can be obtained without one, but usually via a bit of pushing to find the right people who can make it happen), bank account, etc.

 

Adding a spouse to a bank account usually isn't too hard via contacting the bank, but again they may request an SSN so having one makes this simpler.

 

I don't see an actual tax issue with the transfer as it's not payment for anything, albeit transferring that amount of money in a short of a time period and to an individual may raise a few eyebrows. It would probably be better to transfer it into an account with your name on it (individual or joint) to avoid any suspicions of things like paying for a green card. I'm confident others have done it just fine, but I think it's better to be safe here.

Edited March 29, 2017 by geowrian

[KULtoATL 1,551]

3 hours ago, Joanne82 said:

Hi. 

 

So I have read a tonne of conflicting information about obtaining a Social Security Number and opening a bank account. As soon as I find an answer somewhere, I see a different answer somewhere else.

 

I am coming over to the US on my K1 visa (finally, only 2 years!) and my fiance is in the military and given how long this took to get sorted, we will now have to move in June just a couple of months after my arrival. We will be getting married as soon as possible and pushing for a speedy adjustment of status so that we are not apart for too long. We will need to do renovations on our home asap so that it is rentable before we go. This will be funded by my savings.

 

Many sources say that you can apply for your SSN as soon as you arrive in the US and it takes 14 days. Others say that you should wait until you are married to apply for your SSN and do it all in one go with your adjustment paperwork.

Does anyone know for definite what the position is with SSN for K1 visa fiancees and how long it takes? Also does anyone have experience with opening a bank account over there on your own or whether you have to have a joint one with your spouse? Does anyone know if it's possible to just add a K1fiance or wife to the US citizen fiancee/ husband's bank account?

 

Either way I will be waiting for a good few weeks or potentially months, before I can have my own bank account. I bank with HSBC and there aren't any in Virginia where I will be moving to.

 

I would like to transfer £30,000 to my fiance before the exchange rate gets any worse and soon enough for us to do the work on the house. Does anyone know if there would be any tax implications for this cash if it was just being sent to someone who wasn't my husband yet and whether I would do better to wait until we were married and just take the hit of the reduced exchange rate predicted over the next month? Has anyone else had any experience with sending money to their fiance over there?

 

Thanks. 

 

 

 

 

SSN: K-1 holders can definitely get a SSN. However, some SSA personnel may tell you otherwise. Therefore, it's advisable for you to read the SSN guide on here and print the https://secure.ssa.gov/apps10/poms.nsf/lnx/0110211530 to bring with you to the SSA office. Your fiance will receive the card within a couple of weeks or less based on other VJers' experience.

 

Bank account: Most banks would give you a hard time or don't allow application and addition involving a K-1 holder. A lot of people have complained about Chase regardless of their locations. I think I read something to the same (negative) effect about HSBC too despite them being an international bank. Bank of America has been highly recommended on a regular basis on VJ. They will let your fiance to open a bank account, be added to your account if you have one with them and apply for a credit card with no issues.

 

The GBP30,000 transfer? It might be misunderstood and end up being a red flag. @geowrian gave you a good suggestion on transferring it to your own account or a joint account with your fiance.

 

I wish you all the best

[Andrew&Elizabeth 78]

That link you talked about makes it look as though if you get the Social Security card then those of us on K-1 visas are legally allowed to work (without EAD). That flies in the face of everything I've read so far, but it looks legit from the way its listed on that site.

Does that make sense to you?

[geowrian 22,338]

2 minutes ago, Andrew&Elizabeth said:

That link you talked about makes it look as though if you get the Social Security card then those of us on K-1 visas are legally allowed to work (without EAD). That flies in the face of everything I've read so far, but it looks legit from the way its listed on that site.

Does that make sense to you?

The card itself will say "Not valid for employment" (or whatever similar language they use nowadays). You still need a valid work permit in order to work in the US.

[Andrew&Elizabeth 78]

1 minute ago, geowrian said:

The card itself will say "Not valid for employment" (or whatever similar language they use nowadays). You still need a valid work permit in order to work in the US.

Thats what I thought. The bit on the page that said the following confused me a little.

K-1

Fiancé or fiancé of a U.S. citizen

Legal alien allowed to work

[geowrian 22,338]

Just now, Andrew&Elizabeth said:

Thats what I thought. The bit on the page that said the following confused me a little.

K-1

Fiancé or fiancé of a U.S. citizen

Legal alien allowed to work

I'm reading it too and it does sound a bit odd. There should be an asterisk next to K-1 (denoting an EAD is required). Regardless, you definitely need an EAD to work.

[Andrew&Elizabeth 78]

2 minutes ago, geowrian said:

I'm reading it too and it does sound a bit odd. There should be an asterisk next to K-1 (denoting an EAD is required). Regardless, you definitely need an EAD to work.

Oh well. That would have been too good to be true anyway... Thanks!

[geowrian 22,338]

3 minutes ago, Andrew&Elizabeth said:

Thats what I thought. The bit on the page that said the following confused me a little.

K-1

Fiancé or fiancé of a U.S. citizen

Legal alien allowed to work

 

2 minutes ago, geowrian said:

I'm reading it too and it does sound a bit odd. There should be an asterisk next to K-1 (denoting an EAD is required). Regardless, you definitely need an EAD to work.

Okay, we are both reading it wrong. That page indicates what is required in order to obtain an SSN. A K-1 holder can obtain one without an EAD. A K2/K3/K4 applicant must present an EAD in order to obtain an SSN.

[Andrew&Elizabeth 78]

2 minutes ago, geowrian said:

 

Okay, we are both reading it wrong. That page indicates what is required in order to obtain an SSN. A K-1 holder can obtain one without an EAD. A K2/K3/K4 applicant must present an EAD in order to obtain an SSN.

Ahh that makes more sense. Well I'm glad that I can get an SSN fast at least - I want to get a bank account set up and need to apply for licensure there (Physical Therapist) before the EAD will come in so that I can start work ASAP once it does.

[TBoneTX 45,841]

*** Thread is moved from the K-1 Process forum to the Tax & Finances forum, to be among more similar threads. ***

[MsCompE 50]

17 hours ago, Joanne82 said:

...

Does anyone know for definite what the position is with SSN for K1 visa fiancees and how long it takes?

I applied for SSN 3 days after arrival and i got it after a week. No issues has been encountered. 

Quote

Also does anyone have experience with opening a bank account over there on your own or whether you have to have a joint one with your spouse? Does anyone know if it's possible to just add a K1fiance or wife to the US citizen fiancee/ husband's bank account?

I have my personal bank account and we got a joint account with my husband. Bank of America doesnt have so much hassles in opening an account. (where my personal account is). When my husband enrolled me under his bank account, I was asked for a SSN and proof of billing. 

Quote

 

Either way I will be waiting for a good few weeks or potentially months, before I can have my own bank account. I bank with HSBC and there aren't any in Virginia where I will be moving to.

 

I would like to transfer £30,000 to my fiance before the exchange rate gets any worse and soon enough for us to do the work on the house.

If you are worried about the exchange rate, why not convert your money into USD and open a USD account for now in your home country and take it later on when you leave for US? I do understand that foreign exchange rate is not stable. It goes up and down. 

Let's say, for example, if the current exchange rate is  £1 = $1.25. You can change your money in the same rate in your home country. But, if you send it in whatever transfers, you wont get the same rate. Either westernunion, moneygram, bank to bank, you will get a rate lower than that. ( £1 = lower than $1.25) which is about equal if ever the exchange rate drops in the future. 

Edited March 30, 2017 by MsCompE

[Roy&Chanel 109]

17 hours ago, Joanne82 said:

Hi. 

 

So I have read a tonne of conflicting information about obtaining a Social Security Number and opening a bank account. As soon as I find an answer somewhere, I see a different answer somewhere else.

 

I am coming over to the US on my K1 visa (finally, only 2 years!) and my fiance is in the military and given how long this took to get sorted, we will now have to move in June just a couple of months after my arrival. We will be getting married as soon as possible and pushing for a speedy adjustment of status so that we are not apart for too long. We will need to do renovations on our home asap so that it is rentable before we go. This will be funded by my savings.

 

Many sources say that you can apply for your SSN as soon as you arrive in the US and it takes 14 days. Others say that you should wait until you are married to apply for your SSN and do it all in one go with your adjustment paperwork.

Does anyone know for definite what the position is with SSN for K1 visa fiancees and how long it takes? Also does anyone have experience with opening a bank account over there on your own or whether you have to have a joint one with your spouse? Does anyone know if it's possible to just add a K1fiance or wife to the US citizen fiancee/ husband's bank account?

 

Either way I will be waiting for a good few weeks or potentially months, before I can have my own bank account. I bank with HSBC and there aren't any in Virginia where I will be moving to.

 

I would like to transfer £30,000 to my fiance before the exchange rate gets any worse and soon enough for us to do the work on the house. Does anyone know if there would be any tax implications for this cash if it was just being sent to someone who wasn't my husband yet and whether I would do better to wait until we were married and just take the hit of the reduced exchange rate predicted over the next month? Has anyone else had any experience with sending money to their fiance over there?

 

Thanks. 

 

 

 

I think it depends on branches. Here's my experience, when I arrived on K1, no banks allowed me to be included in my husband's name, I brought quite a sum of money to America and declared, had to put it in my husband's bank account temporarily till I have gotten SSN, 2 proof of residence bills. So I went to get my SSN and temp State ID, included my name in phone bill, was able to put my name into his accounts but I am unable to open of my own.

I have been transferring money from my own savings (not income, quite a sum like urs) to US into our joint Chase bank, with currency exchanged, however, I have received a monthly "federal withheld" charge and a one time transfer charge from both countries, the federal withheld charge was accumulated to around 90 dollars in total over the months, I've only come to notice only 6 months later at the time when I received my green card and Chase did not refund me even though they said they will. Till I've updated them with my green card status again, they stopped charging me fees.

 

Edited March 30, 2017 by Roy&Chanel

[AMW 6]

14 hours ago, KULtoATL said:

Most banks would give you a hard time or don't allow application and addition involving a K-1 holder. A lot of people have complained about Chase regardless of their locations.

 

Just in case Chase was your choice of bank, we didn't have any problems opening an account with Chase without an SS#. They just asked us for a copy of his passport and proof of address - which we used our rental agreement and a piece of mail for him. Once he received his social we went back and reported it to the bank.

 

We opted to wait until his EAD arrived to file for a SS#. An immigration lawyer told us this was the best route if he didn't need a drivers license - I'm not entirely sure why, but it worked out well. We never had a problem with banking, school, or anything else without his social. If you do end up having to wait to get your social you shouldn't run into many issues. Best of luck!

[simaysimon 30]

Get your SSN as soon as you get married. All you need is I-94, marriage certificate, passport. Mine was delivered in 5 days with my married name. Since your husband is in military you will have a smoother process. My husband is an active duty too, all he needs to do for health insurance is to call Tricare and get you enrolled with your SSN. Since he is in military I assume he uses USAA if he is then let him give a call to USAA and they will open you accounts as much as you request all you need is uploading your SSN card and passport. In the meantime make sure you get you dependent ID. You will be able to do stuff easier cause it is a government issue ID that will be enough for you to identify yourself until you get your EAD or the greencard.