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Default Amazon US Deposits Foreign Banks?

My bad, mean't to write "Amazon US Deposits Virtual Banks" as title.

Have a stealth Amazon US account, but looks like they aren't accepting linking of Wise Business. Does anyone know what online banks I can use? I'm a US non-resident, so a bit difficult for me to open up an account at a brick and mortar bank. Has anyone tried Mercury?
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Default Re: Amazon US Deposits Foreign Banks?

hello.
Mercury use same bank how is Wise (Evolve bank and trust)
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Default Re: Amazon US Deposits Foreign Banks?

it is better to open Amazon Stealth in a country where you have access to the banking system

because amazon have limited the use of virtual banks , they allow it with many companies like airwallex and worldfirst but they all had to sign an information exchange agreement so that amazon would have access to personal details and would also be able to determine which amazon accounts are connected to their virtual bank accounts at accepted companies so that one suspension of stealth on amazon could lead to chain suspensions of all other stealths
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by murdered_by_ebay View Post
it is better to open Amazon Stealth in a country where you have access to the banking system

because amazon have limited the use of virtual banks , they allow it with many companies like airwallex and worldfirst but they all had to sign an information exchange agreement so that amazon would have access to personal details and would also be able to determine which amazon accounts are connected to their virtual bank accounts at accepted companies so that one suspension of stealth on amazon could lead to chain suspensions of all other stealths
My true residency is Hong Kong, but I require my Amazon Stealth account be US or Canada based due to some brands being gated exclusively for US accounts. Basically if I apply to sell for these brands with a foreign Amazon account, it won't even let me submit an invoice, it will just show the error message "Your Account Does Not Qualify".

In this case, I think I will need to be making a trip to the US to get a business bank account open at a physical bank for my entity.
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Default Re: Amazon US Deposits Foreign Banks?

don you have SSN?
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Default Re: Amazon US Deposits Foreign Banks?

opening USA accounts for non residents is very tough , it is possible without SSN but only if a large first deposit is made

as far as I know amazon do not insist on USA bank though , in theory a foreign bank could be used for withdrawals
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by agent006140 View Post
don you have SSN?
OP stated he or she is hong kong resident so unlikely
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Default Re: Amazon US Deposits Foreign Banks?

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Originally Posted by rsot View Post
OP stated he or she is hong kong resident so unlikely
Many HK residents attended college in US ,worked and eventually return to HK,they could have SSN.
One joke for those who came here and found grass is not greener,before they leave the country ,they whipped out their credit cards and bot a bunch of stuff at Macy,Bloomingdale !
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Default Re: Amazon US Deposits Foreign Banks?

May be Hong Kong Shanghai bank could do something for her,does it still have branches here?
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Default Re: Amazon US Deposits Foreign Banks?

HSBC was a good bank for overseas ppl looking for usa bank acct - i am not sure what the policy on amount of money to be kept in the acct is nowadays though
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Default Re: Amazon US Deposits Foreign Banks?

But HSBC USA has to comply with US regulations.
One issue with HSBC is the US GOVT,if a foreign national becomes a US resident or US citizen and have accounts in both HSBC / US and HSBC in his home country(say India,HK) and not reporting the foreign account on his 1040 ,he could be hit with heavy fine.
Foreign banks have been asked to provide a list of US bank account holders,HSBC have plenty such account holders.

Last edited by agent006140; 1 Week Ago at 10:34 AM.
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Default Re: Amazon US Deposits Foreign Banks?

Thanks for the replies.

I don't have a SSN, but I have family in Canada and run a portion of the business with them. It's difficult for all non-residents (even Canadians) to get an acc opened at a physical US bank. Making an in-person trip is a must.
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by murdered_by_ebay View Post
opening USA accounts for non residents is very tough , it is possible without SSN but only if a large first deposit is made

as far as I know amazon do not insist on USA bank though , in theory a foreign bank could be used for withdrawals
Yes, Beautiful also said I could link my corporate Hong Kong based USD bank account to Amazon and the account will still remain a US-origin account, and everything should work fine. Sounds like this is going to be the route I will go for.
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Default Re: Amazon US Deposits Foreign Banks?

with HK be careful though , name on amazon must exactly match name in the bank and currency would probably have to be HKD as amazon would not send USD to a non US based bank account
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by longr2512 View Post
Thanks for the replies.

I don't have a SSN, but I have family in Canada and run a portion of the business with them. It's difficult for all non-residents (even Canadians) to get an acc opened at a physical US bank. Making an in-person trip is a must.
canadians can do with the td bank in person - pnc, boa also in person
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Default Re: Amazon US Deposits Foreign Banks?

Booked an appointment with a Wells Fargos branch and they called me and told me they've recently required all business account openings to have a legitimate physical address that isn't a virtual office or po box (non-Commercial Mail Receiving Agency). To verify, they also needed a proof of address like a utility bill or lease agreement.

Rep said these are new changes and she recommended me check out some of the regional banks who don't have these requirements. Problem is my entities are all Wyoming LLCs and C-Corps, and all the regional banks in my state don't operate in Wyoming, so they can't open an account for Wyoming entities LOL.

:(
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Default Re: Amazon US Deposits Foreign Banks?

get it done longr2512 - other banks
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by longr2512 View Post
Yes, Beautiful also said I could link my corporate Hong Kong based USD bank account to Amazon and the account will still remain a US-origin account, and everything should work fine. Sounds like this is going to be the route I will go for.
Your US$ BANK ACCOUNT is still a foreign bank account,when it comes to deposit or withdrawal ,it is not as straight forward as a US bank account,ACH would not work,as your HK bank is not a member of US Fed Reserve system.
let us know how it turns out
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Default Re: Amazon US Deposits Foreign Banks?

Quote:
Originally Posted by longr2512 View Post
Thanks for the replies.

I don't have a SSN, but I have family in Canada and run a portion of the business with them. It's difficult for all non-residents (even Canadians) to get an acc opened at a physical US bank. Making an in-person trip is a must.
if you do not have SSN and not a US citizen or permanent resident,how would making a physical trip helP?
On HSBC USA webiste,you can open a US bank account with them if you meet certain requirements.
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Default Re: Amazon US Deposits Foreign Banks?

Read a post on Offshorecorptalk.com, someone opened a US business account through HSBC Canada and was approved. 8 months later, HSBC changed their decision and closed the account, forcing him to go to the US and renting a small office to open with a big bank.

Currently in progress setting up Washington LLCs. After EIN issuance, I will go meet with some regional banks to get set up. Should work out fine, the few regional small banks I talked to didn't require a physical operating address, they just needed the entity to be within their operating jurisdiction.

There are a few services online it seems that can provide a physical operating address with lease and utility papers. Might check those out too. A bit pricey, but the one I saw has a 30 day guarantee if account opening fails.
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Default Re: Amazon US Deposits Foreign Banks?

HSBC is on IRS radar,too many SE Asians in Canada and US will keep money in HSBC of their home country,say India,HK.
In USA,you will notice on 1040 form asking if you have foreign bank accounts ,if you do not report it,and IRS found out,one would face hefty fine.
I dont know if law has changed,foreign banks which do business in USA,are supposed to provide Uncle Sam a list of US bank account holders.
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