[Closed] Moving to USA for two years - money

Tell her to get a Halifax clarity card

Just open a US account and transfer funds over at a favourable rate.

Can she not get a card in the u.k which had free international transactions? She won't have a good chance getting a card in the U.S. at first, her credit rating won't be great. It took me a couple of years to build up here. Take travelers cheques, open aback account and get a debt card. Does she have a social security number yet? She'll need one I think to open the back account.

Revolut. FX service that trades at pretty much spot for the time being. At some point I assume they will introduce an annual retainer or perhaps a charge but for the time being it seems they are trying to gain a sufficient subscriber base.

No connection but I've used it as have a couple of friends.

https://revolut.com/

I should get my mate to write up the best way of starting off. He moved over to California about a year ago and had a bunch of tips for another person on our team that followed him out.

Basically, don't use cash; you need to build up your credit rating.

15 years ago when I was a student over there, I just opened a bank account on the day I got there and got family to transfer the funds (which I'd transferred to them) before the days of internet banking.

For 2 years you're going to want to open up a bank account. I've not tried it in the USA but in UK / Canada it can be a bit of a vicious circle....

You can't open a bank account without proof of address but you can't get proof of address as you don't have a bank account to pay for things (or a social security number or.. or....)

So my advice is take a bit of cash and expect to use a card to begin with but start trying to get a bank account immediately.

In Canada I was also able to set up a bonded credit card where the bank held the cash value of the card in a holding account. This meant that even without a good credit rating I could still get a credit card.

There are a few options but the best ones that work are:

1. HSBC - they do a linked worldwide bank account. They will open up a new account in advance in the USA for you and have cards waiting for you. They use the credit rating from the UK to do this. Upside - you have a US account ready and waiting on arrival, downside - HSBC are monumental bellends in the US with next to zero customer service and have closed a lot of branches so worth checking nearest branch location in advance.

2. Go into a US bank and explain your situation, most will work with you especially if you walk in with a Social Security Number, offer of employment and also take an Experian credit report from the UK. They can now do a good international credit report. I worked with Wells Fargo over here who were excellent, had a top credit rating within 6 months.

In addition to the above, if you have an Amex card in the UK they will open up a US one for you too so you will have access to a credit card as well as a US checking account.

Hope this helps.

Cheers folks, few things becoming clearer now and have found a couple of friends who have been through it who can advise too.

Yes, lots of vicious circles, first few weeks might be a bit frustrating!

I have HSBC UK and US accounts. You can transfer funds free of charge between the two (electronic banking too). 6 weeks to set up the US account.

You can transfer funds free of charge between the two

You can, but shouldn't. Only use in emergencies as the rates are terrible.

She needs a proper international bank, HSBC are good we use them and have multiple accounts in different countries. If she opens an HSBC account in the UK they can provide the "introductions" to HSBC USA (she should double check this), she should also get her employer to provide reference letters. She should get a US account ASAP after arriving.

Good luck, I've worked abroad for a number of 2-3 year periods and my only regret is not having done more it. It can be tough but if you are open minded there is much to learn and experience

FairFX dollar mastercard - best rate you'll find, you can link it to your UK bank a/c and there's an iPhone app so you can move money easily.

Then as LHS said take your SSN and UK credit report to a local bank (USA has amazing private banks in most counties - I used to be near DC and used Middleburg Bank - brilliant even had a drive through branch!) and off you go!

Also take references for housing from UK landlord or mortgage agent as you'll need them too. Don't expect to get much credit for a car though, still there are great classic 4x4s for little cash (I had a ford Bronco!)

Getting bank account / credit can be a bit of a faff.

For just converting USD <->GBP - from next year, these guys might be worth looking up : [url= http://www.bbc.co.uk/news/business-34294466 ]http://www.bbc.co.uk/news/business-34294466[/url]

Another piece of advice for cars. VW and Volvo will lease you a new car without a credit rating. They will require Visa, SSN, proof of income etc. They have special ex-pat deals.

Note, they will only lease a car for the period of the visa so if this is 2 years, that is the max.

Her place of work might have a Credit Union, which makes it easier to get a bank account. At least it did for me, although that was nearly 19 years ago now 🙂

Another voice to HSBC and their global banking, dual US and UK accounts all set up from the UK, had all my accounts and credit cards with me before leaving the UK - visited a branch once in each country rest is done online including check deposits
Cars, add too that Ford lease to L1 visa holders without too much fuss
Insurance, try travel guard they will insure you on your UK ncb and driving record
Houses, budget that landlords likely want first month, last month and the deposit up front
SSN get it ASAP to allow you to get driving license etc
Utility bills, some companies will ask for a deposit too held until you are seen to pay regularly
I too went on a 2 year contract in 2011 still here! Email if you need any specifics

Another piece of advice for cars. VW and Volvo will lease you a new car without a credit rating. They will require Visa, SSN, proof of income etc. They have special ex-pat deals.

Note, they will only lease a car for the period of the visa so if this is 2 years, that is the max.

special offer on diesels at the mo 😉

For 2 years you're going to want to open up a bank account. I've not tried it in the USA but in UK / Canada it can be a bit of a vicious circle....

The UK is specially stupid when it comes to bank requirements. I just walked into a bank in the US and opened an account. However, they have their share of idiots - like when I couldn't cash a traveller's cheque at Texas Commerce Bank in downtown Houston without a TX drivers license. My UK passport and MA licence weren't enough.

The UK is specially stupid when it comes to bank requirements

Have also had the same issue in Texas where the only valid i.d is a Texas drivers license.