Best USD personal savings account for non-US citizens

[zedislost]

Any thoughts about what banks are best for fixed-term savings USD account for non US-citizens?‌

Requirements:
- Can open bank account online.
- Money is protected by a scheme.
- Less than a year term.

According to MoneyFactsCompare it seems to be Barclays, but I‍ have to create the bank account in person. Did anyone have experience with Xapo or SkiptonInternational? It seems that NatWest International might be the best option?

 

[TheCryptoAnt]

If you just need to park your money for some time and get some yield,‌ IBKR will do.
No bank acc ik but I dont see why you would need‍ one if what you want is the above.

 

[GeneralGogol]

Why fixed-term savings when you can just buy treasuries on any broker?
You get the‌ same yield AND also remain fully liquid and able to use the money whenever you‍ want

 

[zedislost]

@GeneralGogol great idea, do you have any broker suggestions?

 

[GeneralGogol]

Any broker that allows you to buy USD ETF will work. Interactive Brokers seems to be‌ the most popular choice.

 

[JustAnotherNomad]

What about taxes? There is no WHT on interest paid from US bank accounts anymore.‌ But I believe with treasuries, there is WHT.
Maybe someone else knows more about this.‍

 

[AlexGE]

Yes, you'll pay 15-30% as a WHT on any interest⁠ from US domiciled ETFs.
So 5% 1year US Bills * 0.7 = 3.5% real interest⁤ rate

 

[JustAnotherNomad]

But not on bank deposits...

 

[backpacker]

Read -> Can Nonresident Aliens Invest in US Bonds: Interest⁠ vs Dividend

 

[diro]

Do they⁠ allow you park your money there without doing any investment long term ?

OP did⁤ you try that with IBKR ?

 

[TheCryptoAnt]

word, they offer 4% on idling balances iirc

 

[diro]

You say I get a 4% interest paid for the money holding there?

 

[JohnnyDoe]

What’s so extraordinary about that? It’s below the t-bills rate: https://home.treasury.gov/resource-...treasury_bill_rates&field_tdr_date_value=2025

 

[TheCryptoAnt]

I think its above x amount? Check their website for more info.‍

word. Not only TBills but theres a bunch of MMF paying over 4% these⁤ days.

 

[AndyAresa]

I am looking for such MMF. do you care to name a few?‌

 

[daniels27]

https://www.openbank.us/banking/high-yield-savings-account

 

[daniels27]

https://www.ishares.com/us/products/341466/ishares-government-money-market-etf
https://www.ishares.com/us/products/341467/ishares-prime-money-market-etf

 

[Suzy Emerald]

Depending in your DTT you pay tax on any etf that pays dividend. But interest‌ payments on T bills, ibkr idling balanxe you pay no tax as a foreigner.

 

[AndyAresa]

thanks. They seem to be for the US‌ market, as I can't find them on my investment platforms (EU). Do you know similar‍ MMF for the EU?

 

[daniels27]

https://www.allvest.de/cmp/invest/home

https://www.ishares.com/de/privatan...Direction=desc&dataView=keyFacts&keyFacts=all

I am not endorsing any of those. Do your own research.