Here is my problem........ I inherited two shares in a US company. They pay a quarterly dividend by cheque of 45 US cent. My bank charges commission on dollar conversion so I cannot economically lodge the cheques. Computershare will lodge the dividend direct to my Irish current account but again the cost means it is not worth it.
What's my question - as a non US resident, can I open an account with a US bank and get the dividends lodged there?
I would let the dividends build up and then transfer back to my Irish account or donate to a charity in the US.
I'm going to the states in October so I can present myself at a branch with any documentation required to open the account. I've read loads online about opening a US account but it is quite conflicting (especially following new regulations post 9/11 like the patriot act etc).
Has anyone managed to do this recently and (a) what bank did they use and (b) what documentation did they need to open the account?
What's my question - as a non US resident, can I open an account with a US bank and get the dividends lodged there?
I would let the dividends build up and then transfer back to my Irish account or donate to a charity in the US.
I'm going to the states in October so I can present myself at a branch with any documentation required to open the account. I've read loads online about opening a US account but it is quite conflicting (especially following new regulations post 9/11 like the patriot act etc).
Has anyone managed to do this recently and (a) what bank did they use and (b) what documentation did they need to open the account?