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Should I choose internet bank?


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#1 dp79

dp79

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Posted 27 May 2005 - 11:37 PM

Hi to all,

I'm trying to find an answer to my situation, if you know the answer please post...

So...

Right now I' m a US resident, but I'm gonna leave the contry soon. I would like to leave my bank account (checking, debit) opened. I think I'm not gonna come back anymore, but I need a US account.
I was thinking if I open a bank account in an Internet Bank I can close it online if I don't need it anymore. I would need free checking account + free online banking at this bank.

I was checking everbank and netbank but I don't know which is the one what fits in the "picture".

If you have any suggestions for me, please post!

Thanks guys,

dp79

#2 markber

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Posted 28 May 2005 - 01:28 AM

Unless you plan to use a mail forwarding service, you may want to choose a bank that can accommodate a foreign address. Citibank, HSBC and USAA can, Principal Bank and Stonebridge Bank can not, for example.

If you want to keep using bank bill payment service and online ACH transfers (if any), you may want to check if providers of online bill payment and ACH transfers can use your foreign address or, at least, keep using your old U.S. address. For example, Cashedge does not offer its ACH transfer service to non-residents (Citibank, HSBC, Bank of America) and CheckFree can not use customer foreign addresses in its bill payment system (FirstIB, USAA)

Regarding closing a bank account, I do not think you should expect many problems closing a B&M bank account over the phone or online. Most B&M banks have online banking these days.

If I had to choose between Netbank and Everbank, I would pick Everbank. Netbank customer service still sucks and Netbank is losing money. I heard that Everbank offers accounts to non-residents so I assume they, at least, know how to handle a foreign address. I also have not seen many complaints about Everbank customer service.

If you go to Canada, it makes sense to open an account in Centura bank to use its online banking to move money between Centura (USA) and RBC (Canada). Citibank and TD Waterhouse (USA)/TD Canada Trust (Canada) would be other options.

Both HSBC and Citibank have international intrainstitutional fund transfers that could be cheaper than international wire transfers. So if HSBC or Citibank offer banking services in the country where you are going, may be you should consider these banks.

In any case, consider opening a xtrade.com account to take advantage of its fund transfer functionality.

Mark



QUOTE(dp79 @ May 27 2005, 04:37 PM)
Hi to all,

I'm trying to find an answer to my situation, if you know the answer please post...

So...

Right now I' m a US resident, but I'm gonna leave the contry soon. I would like to leave my bank account (checking, debit) opened. I think I'm not gonna come back anymore, but I need a US account.
I was thinking if I open a bank account in an Internet Bank I can close it online if I don't need it anymore. I would need free checking account + free online banking at this bank.

I was checking everbank and netbank but I don't know which is the one what fits in the "picture".

If you have any suggestions for me, please post!

Thanks guys,

                       dp79
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