16

Has anyone attempted opening a foreign bank account from Nepal as a Nepalese citizen, if so what was your experience? how easy was it? Which country's banks will allow this?

  • I have never tried, but I assume not easy at all?! In many cases even opening a bank account online here in the UK is quite difficult, despite most banks offering this option in their marketing material, and you end up having to post many documents or later pop to a branch. And I believe most of this is due to money laundry prevention laws? – Yossi Dahan Feb 5 '10 at 6:43
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    I'd suggest adding your country of origin and some of your reasons for opening the account. If you're doing business in Country X regularly and need an account, that's different than if you want to have money offshore or held in a different currency denomination. – duffbeer703 Dec 2 '10 at 17:06
7

The answer is: IT DEPENDS ON THE BANK! And the country.

Many, many banks are only used to dealing with depositors from their own country. They may not even be able to handle street addresses or phone numbers which are not in their own country. Or worse, they may appear to handle it fine, but then not put the right stamp on the envelope when they send you your statements, which you will never get :)

Many countries have strict rules (like the US PATRIOT rules) that make it almost impossible to take deposits from people outside the country. I would go so far as to say that it's going to be incredibly difficult if not impossible to open a US bank account without physically going to the bank, AND having a permanent mailing address in the US.

That said, some banks (and countries) are particularly good at this. There are "offshore" banks in Jersey, the Isle of Man, the Cayman Islands, etc., which have been specifically set up for the purpose of allowing depositors from anywhere in the world to open accounts. If you search Google for "Offshore Banking" you'll find a lot of references and links to banks that are set up to do this.

  • Don't know about opening it via internet, but just to whom it may concern in US (at least California) you can definitely open a bank account if you go phisically there and bring them the money along with showing your passport. You dond't need US addrees. And more money you bring and more they are happy (as all banks in the world). I'm clueless if somone from US goverment will sooner or later audit you for where do those money came form, they never audited me, and if they did I had nothing to be afriad of because they were legally earned. – Marco Demaio Dec 3 '10 at 21:20
  • And about the "stamp", let me tell you that US banks are the best in class, I'm still receiving my statement at my address here in Italy from Chase (formerly Washington Mutual when I opened it). – Marco Demaio Dec 3 '10 at 21:20
2

I don't think its as hard as you might think. I personally know of someone who set up an account at "Loyal Bank" and I know they didn't have to leave the country to do it:

https://www.loyalbank.com

I just went there and clicked on "Open Personal Account" and basically it looks like you just have to print and mail them signed documents and proof of identification, etc.

Pretty easy stuff...

  • Looking at loyalbank.com now. Although it looks legit, google searching doesn't find too much about the bank's reputation. – user238 Feb 10 '10 at 23:13
  • I would not put money in such type of bank, what makes you think that you will be able to withdraw your money back? It's not a critic, it's a consideration similar to the one made by user238, I mean how do you evaluate the bank reputation in terms of economic income? It seems is a bank in stange country, isn't that country black listed? – Marco Demaio Dec 3 '10 at 21:26
2

Opening a bank account in Canada as a US citizen requires you to physically go to Canada.

I'm not sure about other countries.

2

I opened an account with saxobank.com (Denmark) w/ no problem. Filled out online forms, scanned my driver's license and 1-2 other documents, wired them money, and was good to go.

  • Where are you located? US? – Alex B Nov 30 '10 at 18:10
  • Yes, I'm in the United States. – barrycarter Nov 30 '10 at 21:09
  • From their website, it looks like saxobank is more of a foreign currency trading platform than a typical checking account bank, right? – Joel Spolsky Dec 2 '10 at 3:34
  • Hmmm, you appear to be right. I opened it for FOREX purposes, but thought they offered regular banking as well. I may've been wrong. – barrycarter Dec 2 '10 at 16:04
2

I have worked in France and had to open a bank account there. Boy, the amount of administration that goes into that... But above all, you have to prove that you reside in France to be able to open the account. The catch: to reside in France, you need to have a bank account.

I can't imagine that you can open an internet account in a French bank with that complicated a system.

  • 1
    "The catch: to reside in France, you need to have a bank account." : no, you don't. What you need is a job contract, or a student ID, or a proof that you are retired and that you have enough fund to live on your own. – Sylvain Peyronnet Sep 2 '12 at 18:05
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Your question isn't clear about which countries are "foreign", but it's basically impossible to open a USA bank account if you are not a citizen or resident.

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