Opening a Suntrust bank account questions

[1andrea]

I'm a DVC owner and I'm thinking of opening a US bank account.

I've been thinking of doing it for years but I am going to in August if I can!

Will I need a US address?

Does anyone know what ID do I need to take. Do I need to take utility bills etc from my home address?

I always think of doing it around Dues time but I never seem to get around to it.

The last thread I can find is years old and I know banks policies change so I thought I'd ask for new experiences.

Thanks xxx

 

[onestitchloose]

was thinking of doing the same. I've read on a few other forums about peoples experiences. By all accounts you just need your passport and 2 utility bills. Most people seem to suggest it literally takes 20 minutes to do. There is a Suntrust bank across from disney springs.

Going to try myself this year.

 

[RobynPrincess]

We had fully intended on doing it this year but then our finances made it so we could pay them off in one go. Will be setting it up for next year though

 

[zavandor]

I've done this last January. It was very easy. I went to the branch in front of Downtown Disney (now Disney Spring). I think I brough my passport and an utility bill, but if I remember correctly only the passport was needed. I've opened a bank account which is free if I keep more than 700$ on it, otherwise it's $7 a month. The only small drawback is that if you wire some money in, there is a 15$ fee, while no fee for a Paypal transfer (apart from Paypal commissions), so it's ideal if you think about renting your points out.
Just keep an eye on your card: I got mine suspended because of a purchase I did online but they didn't notify me about it, I discovered it when I tried to purchase a Disneyland ticket the night before leaving for California. I intended to use my card during the trip and had all my travel money on it! Fortutately I succeeded to have the card reactivated after calling and asking for a manager to step in.

 

[pinklotusflower]

I opened one last year at the Suntrust across from DS, I just needed my passport and $500 dollars, there's a monthly fee if you go below this amount.

 

[mrliam]

Yep, I have one as well. All you need is a passport, although I took Passport and Driving Licence to be safe.

The $15 fee is correct if you want to wire money in, but to transfer my £ to $, I use TransferWise (XE Money works the same, but the exchange rate is ever so slightly less) This usually gets the money into the Sunburst account within 48 hours and you don't get the $15 charge, so you can send over as little and often as you like without it being eaten up in charges.

 

[Toffeewoffy]

OH and I have been talking about opening a US bank account when we come over again in August. However, I certainly can't afford to keep a minimum of $700 tied up in an account which will only be used once a year!

 

[pinklotusflower]

OH and I have been talking about opening a US bank account when we come over again in August. However, I certainly can't afford to keep a minimum of $700 tied up in an account which will only be used once a year!

the minimum amount is $500 or there is a fee per month, otherwise is $7 a month

 

[zavandor]

The $15 fee is correct if you want to wire money in, but to transfer my £ to $, I use TransferWise (XE Money works the same, but the exchange rate is ever so slightly less) This usually gets the money into the Sunburst account within 48 hours and you don't get the $15 charge, so you can send over as little and often as you like without it being eaten up in charges.

That's great news, thank you. I was thinking about using Transfer wise as well, that I have already used to transfer € into £, and the fact that there is no fee is really helpful.

 

[MiceyT]

Hi all, just reading ur messages and I'm also looking to open a US bank acc, but to use for my monthly finance. I would be transferring money to it each month to pay my finance, so am I right in saying, I would be charged $7 per month?
Also, do I need to actually go into the branch, or can I open it from the UK?

 

[pinklotusflower]

As long as you keep $500 in your account there is no fee to pay

 

[MiceyT]

Another thing I was just told was I would have to go into the bank in person to open the acc, is that the only way to do it? Can I do it from over here in Ireland?

 

[Elise79]

The only way to open a SunTrust account is by going into a branch.

There is a minimum balance or you have to make an electronic deposit each month of over $100 I think to avoid the fee.

We pay our dues out of it so I send some money each month which is more than our dues so I have some spending money ready for when we are there.

I have an XE account and also use Transferwise. I prefer Transferwise now as I can use my debit card directly on the site rather than having to go to my online banking to make the payment plus the rate is a little better.