Just like in any other country, the United States also has its limitations and requirements for a foreigner to open a bank account and invest in the Miami real estate market . The first thing to do is to look for information from the entities closest to your place of residence and find out about the type of account to open and the requirements required to do so.
In the United States, there are two types of bank accounts for foreigners, checking and savings. As in all countries of the world, a current account allows you to make payments, deposits and withdrawals of money; while saving means “saving” money to earn interest.
The most common thing in this country is to have a checking account, since most transactions such as receiving salary payments, rent payments and others are done through this type of account. The checking or checking account allows you to withdraw money from ATMs, transfer money between accounts, pay by check, direct debit payments and use telephone and internet banking.
Best Banks to Open a Bank Account in Miami
The main banks for foreigners to open a bank account in Miami are as follows:
Bank of America
It is a good option for non-residents because it is a solid and reliable bank that allows you to have money in dollars quickly and easily. There are checking account options, e-Banking and ATMs from where you can withdraw or deposit cash.
The requirements to open an account at Bank of America are as follows
– Passport with valid American Visa
– Indicate an address in the United States, either of a family member or friend where the bank will send the debit card and banking information.
– Minimum amount Savings account or e-Banking is 25 dollars and for checking or checking account is 100 dollars.
J.P. Morgan Chase (Chase)
This bank does not require the client to address in the United States, but it must present two forms of identification, in this case the identity card of the country where the foreign client was born and passport. The credit card is delivered immediately and the minimum amount for the initial deposit is 25 dollars.
Wells Fargo
Within the requirements to open a bank account this entity asks for an address in the United States where the details of the contract and the debit card will be sent. They also ask for two forms of identification and initially hand over a temporary debit card. The minimum amount for the initial deposit is $50.
Other options where to open your bank account
Payoneer
It is a company that is dedicated to the location of accounts of the “Bank of America” and offers the customer a debit card for free from that bank with which you can receive payments and make purchases with it. It works like a prepaid debit card.
With this account you can also make transfers and keep the balance for any circumstance. Payoneer payments are accepted in more than 200 companies including Amazon, Apple, EBay, among others.
Which of these banks do you think is best for opening a bank account in Miami? If the information seems of interest to you, share it on your social networks so that it reaches all your friends and acquaintances, and keep it in mind when looking for apartments for sale in Miami to make your investment in the real estate market of this city.
