Personal bank account opening in US

[12345]

most banks‌ require US address however I read that its possible to open US personal bank account‍ with non-us address in CitiBank. Although in this case there is some minimal deposit required⁠

 

[Clank]

Yes it's possible and you can do i⁠ online.

 

[ivan1911]

You know of service to open personal USA bank account with citi without travelling to USA‌ ?

 

[Clank]

You don’t need any service just call Citibank‍ IPB USA and they will open it.

 

[Piano]

You mean this ?

https://www.ipb.citibank.com.sg/en/

 

[Clank]

No, International Personal Bank U.S.‌ - Citibank

 

[Piano]

CITI is no‌ longer opening accounts for IPB package as you can read at the bottom..

 

[Clank]

They don't open on Citi International‍ Personal Account Package but they open on Citigold International Package. Meaning they require minimum deposit.⁠

Just call them and they will assign you a RM for the account opening.

 

[Piano]

How much is the minimum⁠ ?

 

[linusAG]

USD 200K

 

[Forester]

That's not so much. Pretty in-line with e.g.‌ some cheap(er) SG or HK opportunities.

Hence, it can be really attractive for someone.
I must admit I personally do not like Citi very much; but it's only because a‍ very long time ago they seemed to me as a really money hungry bank (and⁠ it showed to be true). Nevertheless currently I am e.g. really impressed how well they⁤ are backing Currenxie...
@Clank , @linusAG – do you have a personal experience with the⁣ quality of service and fees? If so, how do you evaluate it?

 

[linusAG]

My contact at Citi is⁢ a pretty nice lady, She was exceptionally warm-hearted, gentle and very professional. However, due to︀ particularly stringent compliance requirements, there are not a lot of things we can do.

 

[Matade]

You forgot to mention⁣ it has to be a US address, so no, you can't really do that in⁢ 2024.

 

[Clank]

Currenxie uses DBS for multicurrency⁢ account. Citi only for SEPA.

 

[Forester]

You are speaking according‌ to your experience, I presume? Interesting – this is the first time when I see‍ that it is so, although another HK EMIs do it by default. I can confirm⁠ that I am aware only about global (multicurrency) accounts with Currenxie that are backed by⁤ Citi HK... (CITIHKHX)
Can't it depend on the jurisdiction of the company? Accounts that I⁣ am talking about belongs to EU or Canadian companies...
Yet this is OT here, so⁢ let's not hijack the thread too much.

@Clank , are you aware about the fees︀ asked for Citi International Account Packages?

 

[Clank]

For my company the account is provided by DBS Hong Kong.

 

[uplana]

Must have been some time ago and complicated process to get the account opened,‍ we tried last year and gave up on the compliance process.