Bank account question

[Lesleylou81 1]

Hi,

I’m wondering if I’ll be able to set up a bank account to get a financial history started?

I am a UK citizen current in the early stages of the K1 visa process, as in as have just received our NOA1. 
I am planning on calling into the bank to ask this question on my next visit to the US next month. However I wondered if anyone has experience of this.

My fiancé and I will be looking to buy a home in the US together in the next couple of years and I know banks here in the UK like to see some financial history ( which I have here already). I was just wondering if anyone has experience of opening an account in the US using a care of address of their partner. I’d like to start a financial footprint and also I’m not keen on the currency conversion and constantly having to consider the exchange rate.

 

Any help or advice is much appreciated 

 

Thank you 😊 

[Boiler 45,434]

I did once I got here, now some make it more difficult for a K1 than others and Banking is very different UK to US.

 

You may have major issues before you get here.

 

Like in many areas K1 tends to confuse people as for example things like EAD will take some time and you are in this limbo like status.

 

American Express have or used to have a way of getting you a US Card.

[NorthByNorthwest 344]

1 hour ago, Lesleylou81 said:

My fiancé and I will be looking to buy a home in the US together in the next couple of years and I know banks here in the UK like to see some financial history ( which I have here already). I was just wondering if anyone has experience of opening an account in the US using a care of address of their partner. I’d like to start a financial footprint and also I’m not keen on the currency conversion and constantly having to consider the exchange rate.

 

1 hour ago, Boiler said:

American Express have or used to have a way of getting you a US Card.

 

More info on Amex option: https://www.americanexpress.com/en-us/company/about-us/moving-abroad/?intlink=us-CMS-GCRusa - helps with getting a credit card despite having no US credit score. Note that this is only useful once you're in the US. 

 

For general banking, HSBC is also pretty convenient for multi-country accounts: https://internationalservices.hsbc.com/life-abroad/move/  Not sure if they will let you get a US account before you're actually in-country either...

Edited October 20 by NorthByNorthwest

[powerpuff 6,669]

Big banks like Chase won’t open a checking account if you can’t furnish proof of US address in the form of utility bills, etc. I would try small banks and see if they can be more flexible. But generally, proof of US address is the biggest hurdle I see here. Even newly arrived K1s with pending AOS have trouble opening a bank account. I was given such a run around being added to my husband’s checking/savings with Citi bank when I came as a K1, we almost switched to a different bank. 
 

I think you’ll have an easier time with a credit card though, especially being added an authorized user. Credit scores are looked at when purchasing a home so you’ll have something by that point.

Edited October 20 by powerpuff

[ScarletWitch6x 62]

I can't speak to opening an account before you get here - my fiance and I are waiting until he's here to get him added to accounts and getting new accounts open. He's planning to use Wise (sp?) to transfer funds. I know some banks are pickier about proof of identification - and this is made easier by having a social security number. 

 

In terms of buying a home I can offer a few tips, though.

• Start building credit as soon as you have your SSN. Easiest way to start is to be added as an authorized user on your spouse's credit card (IF they are a responsible credit user). That will help you get a credit file started - which will help you get your own credit card and other LOCs down the road. This is important because when buying a home mortgage lenders will take the lowest credit score of both of your scores - this is used to price your loan and will determine how much you can borrow from the bank and with what downpayment. 
• Ensure you engage in traceable transactions and money moves. Yes - some lenders want to see a banking history, however this is most impactful when it comes to the funds being used for your downpayment. Bascially - if you have funds you are bringing over that you want used for a portion of the downpayment, ensure that you have a paper trail for the funds. Cash transactions do not create a paper trail. 

I hope this is helpful. 

[Monument256 8]

My now husband, UK Citizen, entered the US on a K-1 visa, in June 2024. We quickly learned it was not so easy to establish him a bank account - as others have mentioned the bank wanted proof of US residency, and since technically the K-1 visa is a non-immigrant visa we had to over explain, having a relationship with a banker helped a ton here. In order to finally get him an account opened we needed a utility bill in his name (internet was the easiest to get in his name) and a social security number for him.

Prior to my husband entering the US, I had added him as an authorized user on my AMEX by calling in and providing his foreign passport number as the identification number. When he received his US SSN we then faxed that to AMEX, and we were surprised that the “opening date of first account” in regards to his credit score dated back to when I first added him over a year ago. Good luck! 

[TBoneTX 45,222]

32 minutes ago, Monument256 said:

having a relationship with a banker helped a ton

This can be what tips the scales in your favor.  When I went to add the new Mrs. T-B. (via K-1), the ladies at my bank had to pull some strings, but they put in the effort.  Having a Social Security Number is pretty important.

[Melancholic Mage 102]

I'm actually in the process of doing this on a CR-1 visa and my husband and I are going to head to his bank in a few days to ask about exactly this.

 

I have a Social Security Number and apparently that should class as proof of address according to bank requisites (as it's USCIS mail). Other than that though, all I have is my passport with visa inside. Hoping we can open a joint account together, but as people have said above, the banking here is very different from the UK as I'm finding out. The only way we can know for certain is by going in and asking.

 

In terms of sending money over, I initially was going to use Wise until I found out about Atlantic Money. Flat £3 fee, no matter the amount, so long as you're willing to wait a few days extra for the funds to clear. And if not, they offer an expedited service that is still cheaper than Wise. Excellent reviews, and I plan to use them soon once I get my affairs/taxes over in the UK sorted. Good luck, and please keep us posted here on the outcome!

 

https://atlantic.money/gb/en/

Edited October 21 by Melancholic Mage

[Lil bear 4,181]

26 minutes ago, TBoneTX said:

This can be what tips the scales in your favor.  When I went to add the new Mrs. T-B. (via K-1), the ladies at my bank had to pull some strings, but they put in the effort.  Having a Social Security Number is pretty important.

You can also go around the lack of SSN and address by doing what we did before we moved here .. 

Go to SSA and apply for a SSnumber. Use the US address  of your fiancé ..  then when they deny it, use that letter as documentation of a US address. 
It is a circuitous route but we used it   We then went to a regional bank in our area and they were happy to open the checking account using the form for foreign nationals..  That was 10 years ago but that was how we got around it. 

[TBoneTX 45,222]

17 minutes ago, Melancholic Mage said:

In terms of sending money over, I initially was going to use Wise until I found out about Atlantic Money.

If this isn't already mentioned somewhere in the U.K. regional forum, post it in a new or relevant thread.