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Old 02-12-2009, 03:34 AM   #1
Lisa1976
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Opening a Sun Trust Account - Info for those thinking about it

Hubby and I opened a joint Sun Trust account while we on our hols a couple of weeks ago and i thought I would let you know how the process went in case anyone is thinking of doing the same.

We went to huge and I mean HUGE Sun Trust bank opposite DTD. The lady who served us was very friendly and polite.

We went for a free checking account as this has no fees attached to it, plus has internet banking access and a Visa Card.

She filled in the application while we sat there, all we need was our passports and driving licences (you need two proofs of ID). After about half an hour all done, we opened it with $10. She gave us our account details straight away and when we got home our Visa cards were waiting for us, talk about speedy. We also don't have great credit histories back in the UK but this wasn't a problem.

I've already been on the internet and have access to the account.

The process is very very easy and they were happy to help. We are going to use it for our DVC monthly dues and also for stashing money away for our next trip.

I hope the above helps anyone thinking of opening a bank in the states.
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Old 02-12-2009, 05:21 AM   #2
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Thanks for the info, been meaning to do this for a while now but somehow always have better ways to spend our time
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Old 02-12-2009, 08:21 AM   #3
Shooby doo
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Lisa what are the charges for wire transfers? I'm assuming that your going to be sending money from the UK to top up?
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Old 02-12-2009, 09:50 AM   #4
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I think I will open one of these in Aprill.
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Old 02-12-2009, 01:52 PM   #5
Lisa1976
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Quote:
Originally Posted by Shooby doo View Post
Lisa what are the charges for wire transfers? I'm assuming that your going to be sending money from the UK to top up?
SD
They did say, but I will be using Paypal instead. It was recommended on here actually by another UK member who had a US bank account, the fees to transfer to a US bank are a lot less than a wire transfer.
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Old 02-12-2009, 03:21 PM   #6
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We bank with HSBC so we spoke to the bank here about opening a US HSBC bank account. We did so last August for no charge, and there is no charge to transfer money between our UK and US account (or back again).

I have set up a monthly transfer between the accounts for our DVC monthly fees and plan to top the account up when the rate improves.

We get a better exchange rate than the tourist rate but not quite as good as the business rate - for example today's tourist rate is $1.3911 to £1 but our rate through the bank is $1.423 to £1

It may be worth finding out if your bank will allow you to open a US account through them
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Old 02-12-2009, 03:39 PM   #7
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I bank with HSBC and I had no idea you could do that!
My partner and I were discussing the other day (right after we paid our dues - curses to that exchange rate!) how much better it would be if we could pay monthly to Disney like you can if you are a US DVC member.
If I managed to open a HSBC US account does that mean I would be able to pay the Dues monthly directly to Disney via a direct debit from the US account? So in theory I'd have a monthly debit coming form my HSBC UK account going to my HSBC US account and then a debit going from that to Disney on a monthly basis? Is that how it works? and if so ho do you set it up?
Sorry for so many questions!!
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Old 02-12-2009, 06:21 PM   #8
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Theres also a nice branch of Suntrust in Celebration Thats the branch i usualy use and they are just so helpful and nice and it's good sense to have an account over there even if you do not own any property, as it's nice n handy
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Old 02-13-2009, 03:25 AM   #9
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We have a Citibank US Dollar account that we use for all our DVC transactions. It gives us a dollar chequebook and Visa Debit card and you can transfer money from your UK bank accounts to it as easy as to any UK account without paying wire transfer fees and get a decent exchange rate. It also has full internet servicing.

It's run by citibank UK so they have branches in London that I can go to. It's fee free as long as you maintain a certain balance. We have a dollar savings account with them as well so that we can earn interest.

Our plan is to top it up when rates are good. We put in a decent amount when sterling was at $1.90 and we will use that for all our dollar expenses for the next couple of years.

We did all the application online and only had to send off a couple of forms. Their website is http://www.citibank.co.uk/personal/b...?merchant=citi

Because it's UK based it's covered by the same guarantees as UK banks so your money should be safe up to £50,000. I checked this out when it looked like all the banks might go under.

To be honest, it never occurred to me to open an account with a bank in the US. I prefer to have a branch that I can visit to hassle if there is a problem and something in the UK that I can sue.

Nationwide also have a dollar account that we looked at. You don't have to be an existing customer for either.

As far as paying dues monthly, you can't pay direct debits from this account to a US account. Money has to be wired as from a UK bank. We just used our Visa debit card to pay our dues and for an add-on at BCV. We were going to add on via resale and could have paid deposits and balances by cheque with no problems.

No connection with either bank (apart from as a customer), just seemed a lot easier to open an account in the UK rather than in the US.

Looking forward to hearing anyones point of view.
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Old 02-13-2009, 04:44 AM   #10
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Quote:
Originally Posted by PoppyBentley View Post
I bank with HSBC and I had no idea you could do that!

If I managed to open a HSBC US account does that mean I would be able to pay the Dues monthly directly to Disney via a direct debit from the US account? So in theory I'd have a monthly debit coming form my HSBC UK account going to my HSBC US account and then a debit going from that to Disney on a monthly basis? Is that how it works? and if so ho do you set it up?
Sorry for so many questions!!
Yes that is exactly how it works. We transfer $100 dollars a month (we can even specify the amount in dollars not pounds) from our UK account to our US account and Disney then have a direct debit against that account. To set that up we had to fax them a copy of a voided cheque for the US account (we have cheques and a cashpoint card for the account) and they did all the necessary work to set it up.

We access the account online via a link from our UK internet banking website to the US one. I set the standing order up myself and can transfer cash between the two accounts any time I like just as you can with your UK accounts. The US website works much the same as the UK one

We just called the branch where our HSBC account is held and asked if we could have a US account - they said yes and sent the forms to fill in (lots of them!) We had to go into a local branch with passports etc and sign some forms too and they did the rest. Our cards and cheque books arrived in the post about 3 weeks later.
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Last edited by susieh; 02-13-2009 at 04:50 AM.
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Old 02-13-2009, 05:07 AM   #11
PoppyBentley
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Quote:
Originally Posted by susieh View Post
Yes that is exactly how it works. We transfer $100 dollars a month (we can even specify the amount in dollars not pounds) from our UK account to our US account and Disney then have a direct debit against that account. To set that up we had to fax them a copy of a voided cheque for the US account (we have cheques and a cashpoint card for the account) and they did all the necessary work to set it up.

We access the account online via a link from our UK internet banking website to the US one. I set the standing order up myself and can transfer cash between the two accounts any time I like just as you can with your UK accounts. The US website works much the same as the UK one

We just called the branch where our HSBC account is held and asked if we could have a US account - they said yes and sent the forms to fill in (lots of them!) We had to go into a local branch with passports etc and sign some forms too and they did the rest. Our cards and cheque books arrived in the post about 3 weeks later.
Thanks so much for this advice. I'm going to pop into my branch at the weekend and try and set this up.
Kelly
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Old 02-14-2009, 04:27 AM   #12
Ali and boyz
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Quote:
Originally Posted by susieh View Post
Yes that is exactly how it works. We transfer $100 dollars a month (we can even specify the amount in dollars not pounds) from our UK account to our US account and Disney then have a direct debit against that account. To set that up we had to fax them a copy of a voided cheque for the US account (we have cheques and a cashpoint card for the account) and they did all the necessary work to set it up.

We access the account online via a link from our UK internet banking website to the US one. I set the standing order up myself and can transfer cash between the two accounts any time I like just as you can with your UK accounts. The US website works much the same as the UK one

We just called the branch where our HSBC account is held and asked if we could have a US account - they said yes and sent the forms to fill in (lots of them!) We had to go into a local branch with passports etc and sign some forms too and they did the rest. Our cards and cheque books arrived in the post about 3 weeks later.
HSBC which bank is this, this is what I am looking for
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Old 02-14-2009, 05:06 AM   #13
susieh
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Originally Posted by Ali and boyz View Post
HSBC which bank is this, this is what I am looking for

I don't really understand your question - HSBC is one of the UK Big Four banks. If you are asking what type of account we have - it is a Premier Account which is one of their current accounts.
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Old 02-14-2009, 09:35 AM   #14
Ali and boyz
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Quote:
Originally Posted by susieh View Post
I don't really understand your question - HSBC is one of the UK Big Four banks. If you are asking what type of account we have - it is a Premier Account which is one of their current accounts.
sorry, should have explained myself better

we are up in scotland and i didn't recognise the name/HSBC, up here we have HBOS (halifax bank of scotland, RBOS (royal bank of scotland and LoydsTSB
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Old 02-14-2009, 10:09 AM   #15
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Very interesting information on this thread. It has certainly given me food for thought as I like the idea of being able to top up a US account for our DVC dues etc.

I bank with HBOS so I will certainly raise the question with them and post any relevant information.

Ali - HSBC is not as prominent on Scottish High Streets as those south of the border. Clydesdale Bank is, I think, part of the same group.
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