Hi Guys,
My USA agent opened a business bank account for me in US Bank. The business name is correct as my LLC name. But the account name is the agent's name. They told me it is alright, because someone physically has to be at the branch to set up my bank account.
Has anyone have the same issue?
BTW, I can use internet banking to change the password but not the account name.
Cheers,
GeorgeHi George,
There are many banks here in the U.S. that allow you to open a bank account via mail and do not require that you be physically present. Unless your particular bank has this specific rule, it would definitely be strange for your agent to do this.
I would express your concern again to your agent and request that it is changed into your LLC name for security and accounting reasons.
I live in the US, so let me know if you have any further problems and I will try and help.
-Kevin
Hey George,
The name of account should be your LLC company name. Also, the bank should be providing you your PIN code to access your account online as organised by your agent.
Have the account name change to your LLC, and when you received your PIN code, contact the bank and advise them that you would like to change your PIN code or access code to avoid breach of security concerning your account.
Hope this helps.
Hi Northwind.
Both guys are right and don't you dare let that American Real Estate Agent gain control over your banking account. His role is to COLLECT the rent and then DEPOSIT it into YOUR account – not one with his name on it!
PLEASE NOTE: I have 4 Aussie friends and colleague's of mine who help fellow Aussie's set up all the necessary legalities in the US and they live there with offices in Texas and Florida as well as Brisbane and Melbourne. Feel free to drop me an email and I'd be glad to see if they can help give you a some Aussie eyes on the ground for you.Hi George,
All the above are correct. Be good to know the agent you are dealing with so we can avoid them and what area of the states are you investing in? I will be in the USA from May based in New York. If what has beens suggested above doesnt work out for you let me know. Maybe I can also help.
Ian
http://theblockblog.com
Free Property Investment Info, Tools & Resources for Property Investors – USA< Aust<NZThanks very much guys.
Your advices are very helpful.
My agent is going to change the account name on Monday. I will ask for the PIN code change as well.I will update any further problems.
Cheers,
Georgekevtracey wrote:Hi George, There are many banks here in the U.S. that allow you to open a bank account via mail and do not require that you be physically present. Unless your particular bank has this specific rule, it would definitely be strange for your agent to do this. I would express your concern again to your agent and request that it is changed into your LLC name for security and accounting reasons. I live in the US, so let me know if you have any further problems and I will try and help. -KevinHi Kevin,
Will you be able to suggest a bank that will allow me to open a bank account via mail? I am from Sydney. I had asked the international banks here and they told me that I should go to the US to do it.
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