Strategy to obtain US Amex

[cathalm8]

I was on same page 3weeks ago, my wise account permanently suspended, I used relatives Wise account for payments until setup my US HSBC checking account.
you can try HSBC or IBKR(they provide Routing number which you need).

Do you use US Hsbc account to tranfer money into to pay credit cards? If so what are the fees like?

yes opened a amex checking and business checking online - very easy to do - its a full MR account so cant see why it wouldn't work to transfer points to it (p2 got business checking approved today)

Did you or P2 for their recent account have to fill in the W-9 form as discussed just above?

 

[Viridis]

i use HSBC, Premier is easy to get.

I was on same page 3weeks ago, my wise account permanently suspended, I used relatives Wise account for payments until setup my US HSBC checking account.
you can try HSBC or IBKR(they provide Routing number which you need).

Thanks. I have HSBC Premier in Aus & UK

Was reluctant to setup the US account just based on the pfaff alone but I thought they were winding down their US retail operations

I’ll have a look again.

 

[Grrr]

Do you use US Hsbc account to tranfer money into to pay credit cards? If so what are the fees like

From memory no ‘fee’’ but the exchange rate is a gouge

 

[cathalm8]

From memory no ‘fee’’ but the exchange rate is a gouge

Yeah I done a test from my uk HSBC to USA HSBC and lost 5%.

Unfortunately I can't figure out anyway of setting up a UK based revolut or Wise account when not in the country.

 

[Grrr]

Unfortunately I can't figure out anyway of setting up a UK based revolut or Wise account when not in the country.

iBKR is dirt cheap. Requires a minimum retained balance in the account however (I think $3k)

 

[cathalm8]

iBKR is dirt cheap. Requires a minimum retained balance in the account however (I think $3k)

I had and was using IBKR then after about 6 months they starting sending me emails / notifications asking about certain things and saying I need to deposit a few grand so they could review my account or something. At that point I stopped using them.

Ive just signed up to wise and its telling me fees are less than 0.3% when transferring a few k's to the states.. seems a good bit cheaper than revolut?

 

[Grrr]

Ive just signed up to wise and its telling me fees are less than 0.3% when transferring a few k's to the states.. seems a good bit cheaper than revolut?

I found Wise stupid (eg charged me a fee to send money via Fastpay/NPP from Aus Wise back to my Aus NAB account).

If you can keep $3k sitting in the iBKR account, each forex transaction is ridiculously cheap (~$1) compared to Wise

 

[AppleJune]

I’m in the middle of applying for my first Amex card in the U.S. via Global Transfer and have hit a roadblock. Amex is asking for a very specific bank letter on original letterhead confirming my home address. They require the letter to include:

• Banker’s name, title, hours of availability, and signature
• Confirmation of my home address
• Main phone number for the bank branch
• An extension or personal line to the banker (if available)

I managed to get HSBC U.S. to issue a letter confirming I hold an account with them (including account number and routing number) and showing my address, but it only had the generic phone number for the bank. No banker name, title, or signature.

Amex rejected this and said they still need the full requirements. When I called in to clarify, they told me it would be “easier for them” to have the letter rather than doing a three-way call with HSBC (which I suggested).

They also asked if I had a U.S. driver licence or passport (I don’t). From what I’ve read, that might mean they could try the Intellicheck/SMS selfie verification some people here have mentioned, but they didn’t offer that option since I mentioned that I don’t have.

I’ve since called HSBC again to see if they could tailor the letter to include a banker’s details/signature, but they told me they’re not able to provide that type of document.

 

[nthd_nthd]

I’m in the middle of applying for my first Amex card in the U.S. via Global Transfer and have hit a roadblock. Amex is asking for a very specific bank letter on original letterhead confirming my home address. They require the letter to include:

• Banker’s name, title, hours of availability, and signature
• Confirmation of my home address
• Main phone number for the bank branch
• An extension or personal line to the banker (if available)

I managed to get HSBC U.S. to issue a letter confirming I hold an account with them (including account number and routing number) and showing my address, but it only had the generic phone number for the bank. No banker name, title, or signature.

Amex rejected this and said they still need the full requirements. When I called in to clarify, they told me it would be “easier for them” to have the letter rather than doing a three-way call with HSBC (which I suggested).

They also asked if I had a U.S. driver licence or passport (I don’t). From what I’ve read, that might mean they could try the Intellicheck/SMS selfie verification some people here have mentioned, but they didn’t offer that option since I mentioned that I don’t have.

I’ve since called HSBC again to see if they could tailor the letter to include a banker’s details/signature, but they told me they’re not able to provide that type of document.

I had this issue initially. For now, to be safe you just drop this application, and apply again after 30days. I had a few failed when I did the GT - it's not a smooth process as some encountered. My P2 was approved very fast for GT but not me. Go figures.

Be patient for now then. Or pick another card - easier card to apply.

 

[DC3]

I’m in the middle of applying for my first Amex card in the U.S. via Global Transfer and have hit a roadblock. Amex is asking for a very specific bank letter on original letterhead confirming my home address. They require the letter to include:

• Banker’s name, title, hours of availability, and signature
• Confirmation of my home address
• Main phone number for the bank branch
• An extension or personal line to the banker (if available)

I managed to get HSBC U.S. to issue a letter confirming I hold an account with them (including account number and routing number) and showing my address, but it only had the generic phone number for the bank. No banker name, title, or signature.

Amex rejected this and said they still need the full requirements. When I called in to clarify, they told me it would be “easier for them” to have the letter rather than doing a three-way call with HSBC (which I suggested).

They also asked if I had a U.S. driver licence or passport (I don’t). From what I’ve read, that might mean they could try the Intellicheck/SMS selfie verification some people here have mentioned, but they didn’t offer that option since I mentioned that I don’t have.

I’ve since called HSBC again to see if they could tailor the letter to include a banker’s details/signature, but they told me they’re not able to provide that type of document.

And welcome to AFF,

 

[AppleJune]

I had this issue initially. For now, to be safe you just drop this application, and apply again after 30days. I had a few failed when I did the GT - it's not a smooth process as some encountered. My P2 was approved very fast for GT but not me. Go figures.

Be patient for now then. Or pick another card - easier card to apply.

Thanks, that seems to be the suggestion from a few for people who got a similar issue. I will probably drop this application. I probably will use a VPN when I submit the application next time. I think the Aus IP raised someflagsg with their fraudt department

And welcome to AFF,

Looking to obtain my first US card since Amex Aus keeps getting worse...

 

[_TheTraveller_]

Looking to obtain my first US card since Amex Aus keeps getting worse...

Never an easy ride and always be prepared for road blocks

 

[Grrr]

I replied with the truth, paying my credit cards. Sent them statements as requested. And that's all. Case closed

@nthd_nthd did iBKR seem ok with you using them purely for currency conversion ?

I just got this in the last few days (funnily enough!)


IBKR has noticed that your account is being used primarily for currency conversion at this time. As your account is a brokerage account, it is IBKR’s policy that this account should be used primarily for trading financial instruments. While currency conversion is offered on our platform, that service is intended to be used to facilitate trading in international markets.

IBKR does not offer currency conversion services to clients who are using their brokerage accounts solely to convert and withdraw currencies.

Please reply to this ticket by answering the following questions:
What is the primary purpose of your Interactive Brokers account?
Do you intend to trade financial products in this account?, If so, when and which financial products?
What is the specific business or personal need that requires converting AUD to USD?
Do you anticipate the same frequency and amounts of USD conversions continuing?

 

[hill]

@nthd_nthd did iBKR seem ok with you using them purely for currency conversion ?

I just got this in the last few days (funnily enough!)


IBKR has noticed that your account is being used primarily for currency conversion at this time. As your account is a brokerage account, it is IBKR’s policy that this account should be used primarily for trading financial instruments. While currency conversion is offered on our platform, that service is intended to be used to facilitate trading in international markets.

IBKR does not offer currency conversion services to clients who are using their brokerage accounts solely to convert and withdraw currencies.

Please reply to this ticket by answering the following questions:
What is the primary purpose of your Interactive Brokers account?
Do you intend to trade financial products in this account?, If so, when and which financial products?
What is the specific business or personal need that requires converting AUD to USD?
Do you anticipate the same frequency and amounts of USD conversions continuing?

Damn, luckily I do use the IBKR as a brokerage account as well for trading US stocks.

They haven't replied back to me yet but I think my case regarding the alert is closed now. Seems like they are becoming pretty aggressive re these transfers now from the looks of it.

 

[nthd_nthd]

@nthd_nthd did iBKR seem ok with you using them purely for currency conversion ?

I just got this in the last few days (funnily enough!)


IBKR has noticed that your account is being used primarily for currency conversion at this time. As your account is a brokerage account, it is IBKR’s policy that this account should be used primarily for trading financial instruments. While currency conversion is offered on our platform, that service is intended to be used to facilitate trading in international markets.

IBKR does not offer currency conversion services to clients who are using their brokerage accounts solely to convert and withdraw currencies.

Please reply to this ticket by answering the following questions:
What is the primary purpose of your Interactive Brokers account?
Do you intend to trade financial products in this account?, If so, when and which financial products?
What is the specific business or personal need that requires converting AUD to USD?
Do you anticipate the same frequency and amounts of USD conversions continuing?

I do currency trading into U.S dollars then withdraw

 

[Grrr]

I do currency trading into U.S dollars then withdraw

With a 'brokerage' account, or is there a specific forex account ?

 

[nthd_nthd]

With a 'brokerage' account, or is there a specific forex account ?

brokerage account. I dont know what I am doing really. But just trying to sell when the price is good I guess but most of the time My money sitting there for a long time until get sold according to the price I am asking for. Not much better or significant better price because the volumn is not high but still trading.