US bank account

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Road Runner

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I wish to have banking account if Florida so I can do the odd bit off business with a RV friend I have there.

Now up until 10 month ago this was easy but when my friend introduced me to his bank last week the law has changed and I now need residency.

Is there any ways round this?
 

Tom

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If you merely need to send your friend money occasionally or he needs to send you money, you could just wire the money between the accounts. All you'll need is the routing number of the bank you're transferring the money to. If you're transferring small amounts of money, you could both use PayPal accounts.
 

Road Runner

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Thanks Tom

I have just bought my 1st RV from him but he buy from the auctions so always a grey area as to how much I need.

We used World First this time who were very efficient but the trouble seems to be I was unsure how much I needed to transfer before the auction so would have been easier to transfer into my account rather than his direct as amount unknown before hand.

Trouble is we need to get the amount right first time into his business account or that becomes the taxation figure when shipping back to the UK.

I feel a bit thick here but cant quite get my head into the right gear.

It was very exciting buying my first RV and used it for my second week in Florida doing a 1000 miles along the coast around Datona beach.  We hope to have the RV in UK by the end of this month ;D ;D ;D
 

Tom

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Hi John,

I can see why it would be preferable to have your own account here. I had no problem obtaining an account here in the late 70's while we still lived in the UK, but obviously things have changed a lot since then.

Irrespective of the bank/transfer arrangements, be advised that the U.S. requires notification of any amount over $10,000 transferred in either direction. If transferring out of the U.S., the bank will take care of the reporting (they are required to), but I don't know about reporting for transfers into the U.S.

BTW are you aware of the issue surrounding registration of 'over width' RVs in the UK? The DVLA apparently tightened down within the last year and has been measuring 'American RVs' on arrival in the UK and have refused to register some because they were too wide. Use the Search feature above and the term DVLA  to find some prior discussions on this subject.
 

JohnSandyWhite

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Tom said:
BTW are you aware of the issue surrounding registration of 'over width' RVs in the UK? The DVLA apparently tightened down within the last year and has been measuring 'American RVs' on arrival in the UK and have refused to register some because they were too wide. Use the Search feature above and the term DVLA? to find some prior discussions on this subject.

;D John is more than well aware of ALL the pitfalls ecnountered when importing an RV to the UK Tom.  ;D
 

Road Runner

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Just a total bu**er that by 10 month I lost out on a useful account :mad: :mad:

I can only presume it's because the wrong people transferring money around the world for evil reasons that stops ordinary people trying to live a normal life.

Must admit trying to open a new account in the UK has been more difficult for years now. :mad: :mad:

Tom thanks for the tip re the DVLA but it's the main reason why I have bought an older non slide RV ( 96 incher)for my first purchase.  My wife Irina really wants a slide as we have 2 great Danes leaving us permanently short of space ::) ::)
 

JohnSandyWhite

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:) I will be able to give an update soon about registering an RV in the UK. My Newmar is now MOT'd and I am going to DVLA in Sheffield on Monday (all being well). I have been reading up on the DVLA website. It appears that the size problem is relevant to RV's less than 10 years old. Another importer of his RV from the US recently had to have a check with DVLA. ALL they checked was that it WAS in fact a Motorhome (RV).? ???

Sorry to change the thread John (RR).  ;D
 

Tom

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Road Runner said:
I can only presume it's because the wrong people transferring money around the world for evil reasons that ...

I suspect it has something to do with money laundering. At one time our German-born VP of sales was returning to HQ in California after a visit to his homeland. One of our German salesmen  gave him a bunch of cash to bring here so he could exercise some stock options and pay for them. On arrival in San Francisco the VP declared the cash, as you're required to do for any amount over $10,000. He told us they had him against a wall in a 'private' room and he swore he'd never do someone a favour again  ;D

... it's the main reason why I have bought an older non slide RV ( 96 incher)for my first purchase.

Ah, thanks for the clarification.

BTW here's the secret to getting a motorhome with slideouts registered in the UK.
 

UK-RV

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Tom - Im aware of the requirement to declare "cash" of over $10k on entry to the US, but wasn't aware of money transfers. When we transfered our funds to Lazydays in January, I can only assume their bank registered the transfer with the Govt dept.

John - I thought it was the Purchase Invoice or Bill of Sale that HMRC want in the UK, not the bank transfer amount. Otherwise, I would get all your family to fly out there with $9,999 cash each and then bank transfer say $20k - now THAT would save you some VAT and Duty if they did just use the bank transfer figure.  ;D

Paul
 

Tom

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UK-RV said:
When we transfered our funds to Lazydays in January, I can only assume their bank registered the transfer with the Govt dept.

That would probably be a safe assumption Paul. OTOH they might be waiting for you when you leave and have a special place for you to stay - free room and board at the U.S. government's expense  :eek:
 

UK-RV

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Tom - it's nice to see the US have the room to spare.

It's a pity the UK can't build a few extra lodgings, especially given the latest headlines

Paul
 

Shayne

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This doesn't make a lot of sense to me cause we do business with banks in (3) in ILLINOIS, 1 in Missouri, and 2 here in Arizona.  Unless this is someting new, I don't understand cause some Canadians that have places here deal with banks here.  Maybe it's a situation where they are grandfathered in prior to new rules and regulations.
 

Steve CDN

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This doesn't make a lot of sense to me cause we do business with banks

What part of the discussion doesn't make sense to you...several points have been made and I was wondering which point you were referring to ???
 

Shayne

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What part of the discussion doesn't make sense to you...several points have been made and I was wondering which point you were referring to
 


Why you have to be a resident
 

Steve CDN

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Why you have to be a resident

Ah, OK Shayne!? Good question and I suspect it has to do with one of two issues:

? money laundering
? terrorist funding

There may be regulations that have taken effect in the last year to require a bank account holder needs to show residency.

Perhaps someone with banking experience will comment further
[edit]spelling[/edit]
 

Tom

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Steve said:
...it has to do with one of two issues

Ah, the potential for terrorist funding makes sense, given the relatively recent change in legislation Steve.
 

Shayne

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But no one asked me here in AZ where I was from.? I went to the bank and told them I had a 50K check I wanted to open an account and my address was at the PEM.? I put 2500 in checking and the rest in a savings account.? ?No further Questions were asked.? Why would it be any different anywhere else.? Then again if you let them know you are from o/s the country that could make a difference.  I would think it's none of their Dang business.
 

Tom

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woodartist said:
Cash is reported, but not checks...go figure.

I'm not sure that's right. e.g. any inter-bank transfer such as a wire transfer in excess of $10K is reported.
 

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