Thousands of Australians on Green Cards and US work visas face the challenge of opening a US Bank account and accessing US credit.
The main challenge facing these Australian ex-pats is how to open a US Bank account, let alone access US credit without a US Credit Score.
Solution: Members of The Australian Community can access HSBC’s ex-pat banking solutions to open a US Bank account, get a credit card, and even access ex-pat home loans!
Open U.S. Bank Accounts and Access Credit Cards:
Some credit card companies will issue Australians with a US credit card to build a credit score. However, credit cards are only half of the banking equation: You also need to open a US Bank account for money transfers and day-to-day banking needs.
The Australian Community recognized this challenge and, in 2012, introduced a program where Australians arriving in the US can open a US Bank account and obtain a US credit card through HSBC’s Premier and Advance ex-pat platforms, even if they were not existing customers and without a Social Security Number.
For Green Card holders in Australia who are on the way, they can open a local account with HSBC and then receive a US credit card to use and build a credit history before they arrive in the United States.
This is a unique program to access a US credit card and start building a US credit score.
Under this program, our members can also access US Home Loans even if they do not have the 2-year work or credit history or a Social Security Number!.
- HSBC may finance up to 75% for a primary home, cash out up to 70%
- HSBC may finance up to 70%, as a second home, condo, co-op, one family etc, cash out up to 65%
- HSBC may finance up to 60% on an investment property
For those members who have not yet left Australia, you can obtain a US credit card before you arrive in the US and thereby build a US credit score through your daily purchases in Australia!
These programs are being managed by our HSBC Relationship Managers in New York. You can use the form below to have a Senior Relationship Manager or Mortgage Consultant contact you with all of the details.
Assisting our members to overcome the challenges of living in the US is core to our Mission. Providing a way for our members to not only open a US Bank account and access credit in the US, but to build a US credit score whilst still in Australia makes perfect sense, and is an added value to joining our organization.
Building a credit score while still in Oz is a convenient credit offering from HSBC. Also if you are looking to purchase a property in the U.S. and you do not have a credit history, HSBC is geared to help expats get a mortgage.
At the end of the day it is personal choice and which bank offers you the best service, interest rate etc. is best decided by doing your own due diligence.
Foreign Exchange (FOREX):
If you are transferring money between Australia and the US (or any of more than 30 countries), check out the preferred rate that The Australian Community has negotiated with OFX (formerly OzForex).
Click here to see how much money you could be saving over your existing Bank or online FOREX service.
Please complete the form below to be contacted by a HSBC representative to discuss your credit needs.
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About The Australian Community
Based in New York City and now in our tenth year, our 501(c)(3) organization was formed specifically to connect professional Australians in America. Over the past decade, The Australian Community has assisted tens of thousands of Australians in New York and across America.
In addition to our public social media, our members connect through a private Enterprise Social Network. Our network facilitates 1:1 connections. Most importantly, it contains the largest private Australian knowledge base in North America.
Therefore, whether you are an Australian in New York or another U.S. city, our non-profit services can connect you with other professional Australians to help you achieve your business goals.
If you are an Australian living in or moving to America, you can join The Australian Community.
Make a Tax-Deductible Donation
Our organization relies of the generosity of its members and supporters to continue our good work, assisting Australians living in the United States. Please consider joining our organization, or making a tax deductible donation to our 501(c)(3) public charity.
All contributions are fully tax-deductible under Section 170 of the IRS Code. In addition, the Australian Community is qualified to receive tax-deductible bequests, devises, transfers, or gifts under sections 2055, 2106, or 2522 of the Code.