Welcome to farraha.net,
Here you can view all the information and details you need to know
to open your own US Bank account as a non resident.
Ok. First things first.
First, you’ll need to know the name of the bank. Your U.S. bank
account will be open in:
E*TRADE Financial owns E*Trade Bank and E*Trade Securities.
This bank is one of the most respected banks around the world.
It provides excellent customer service.
You can visit their web site in www.etradebank.com
BUT WAIT, don’t try to open your account yet.
You have to fill the right forms and do all the process correctly
for your account to be open.
The first “secret” you should know is that for opening your account
you will not have to contact E*Trade Bank but E*Trade Securities, LLC.
E*TRADE Securities, LLC is a member of the SIPC. They are a separate
company but affiliated with E*TRADE Bank.
By working with E*Trade Securities you will be able to have banking
services with all the benefits.
First, you don’t have to ask for a checking or saving account.
This types of accounts can not be opened as non-resident.
So, you will have to ask for a brokerage account.
A brokerage account can be used as a checking account, you
will not received interest on your balance, but you will have the choice
to make stock investments and other normal checking accounts
actions (like checks, make transfer, etc.)
our Welcome Pack
Here is a sample of the welcome pack you will receive (The VISA card
as to be requested after you open your account).
The bank will send you the welcome pack along with your bank account
number and password for on line banking via normal mail service.
Your bank account will be open 2 to 3 days after the bank received
your application. The welcome pack will arrive in around 2 to 7
weeks after the bank receive your applications.
You can always contact the bank to see if your bank account has been
open without receiving the welcome pack. More information on this later.
Fill your forms
As a non-US resident you will need to fill out the following forms:
#1 Your bank account application
* Please note it’s necessary to print out and fill in / sign the last page
of this form ( the form will be sent to your email after registeration ) .
click here now to start applying for Etrade Brokerage account .
#2 Your withholding tax form
* You are required to include this form with your application form
– You can download the forms from our servers here .
– You can download the forms from the bank web site here, and
Here you have the sample forms to guide yourself.
Be aware that tax will not be withheld from your deposits. Tax is
only withheld if you make a profit on an investment made through
Now lets see were you have to send the forms..
Send your forms
Mail both forms along with a photocopy of your passport or national
photo ID to the address below:
E*TRADE Securities LLC
P.O. Box 1542
Merrifield, VA 22116-1542
If you want to use Fedex or DHL service, you will probably need to
use this address (without a P.O. Box):
E*Trade Securities LLC
671, N. Glebe Road,
Arlington, VA – 22203
You can confirm this information from the bank web site here . Europe,
Middle East and Africa (EMEA) Residents May send their application to ..
US Account Applications
E*TRADE Securities Limited
One Canada Square
London E14 5AA, UK
2 to 3 days after the bank as received your forms, you can call or
email E*Trade and request your checkbook before you receive your
You can even request it before any funds have been deposited into
your account. Simply call E*Trade on 1-916-636-2510. The mail for
customer service is email@example.com
Or you can wait to request a check book after you receive your
Remember that you are opening a “E*trade Securities Brokerage
Account”. If you simply ask for a bank account they are not going to
You can ask for your account details at this time and login to your
bank account on line.
There is no need to wait for your welcome pack to access your account
and deposit funds.
Ok, keep going..
Your initial deposit
The bank will open your account even if you don’t send any deposit
with your forms. However you can fund your account by including
a $1,000 US check or US money order with your applications.
After you have received your account number, you can fund it in any
amount via your PayPal, 2Checkout.com or any other account that can
send ACH transfers (direct deposits).
The minimum deposit needed to open a cash brokerage account is
$1,000 while the minimum to open a margin account and begin trading
You can also wire funds from your home bank account, in any amount.
Instructions on wire transfers can be found updated in the bank web
site. (Remember you have to follow the instructions on how to wire
money to your E*TRADE Securities account)
Your VISA Platinum Debit card
Remember that you will need to have at least US$ 1000 in your
account to ask for your debit card.
You can send the application included in your welcome pack, or you
can order it from the bank web site.
Next is a example of the actual VISA Platinum debit card and checkbook.
If you need to take money from Paypal, Adsense, 2Checkout or other
similar system and don’t have $1000 to make a deposit, I suggest
you to visit our Debit & Virtual Cards Section
Anyway, now you can see how to send money from your Paypal account
(or a similar system) to your Bank Account….
How to send money from Paypal
To receive ACH transfers (direct deposits) from Paypal, 2Checkout
or any other service. Just use the following details.
Bank name: ETRADE BANK
Routing number: 056073573
Account number: This is your personal account number
Account type: Checking Account
*Remember that doing an ACH (direct transfer) is different than a wire
transfer. A wire transfer (usually used for International Transfers) has
a different routing number. You can see this number updated in your
bank’s web site.
You can always confirm the direct deposit information from the bank website.
That’s it. You have done it.
Enjoy banking in the US!!!