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Hi TD Bank,
I'm aware foreigners are able to open a checking account through you but need some more detailed information for the whole process. I know that two types of ID's are needed (non-US passport, photo ID).
What are the fees to convert KRW to USD, and to transfer and open an account?
How would money be transferred from Korean bank? It'd be hard to call bank when in US.
Or would it easier to take out all cash from Korean bank account and pack it in luggage? (would rather not do that).
Could the account be easily closed after 3 months visiting the US?
Basically, I need a detailed A-Z step by step instructions on the whole process to help prepare visit to US.
October 12, 2017 05:25:19 PM
In reply to Tae, Seoul
Hi Tae. We're so glad you're interested in TD Bank for your U.S. account!
You've come to us with some great questions and we'd be happy to help!
To start, it is absolutely free to open an account with us here at TD Bank. We do not charge any fee at account opening, nor do we require a minimum amount to open the account. Most of our accounts do require a minimum daily balance to be maintained, but with many of them, we allow time to build that balance. If you haven't done so already, we encourage you to check out our Account Selector Tool at https://go.td.com/2sx4N2E. This great feature takes into consideration how you intend to use the account to help find the perfect product for your needs.
With regard to funding your account with KRW, we can offer some options. We do offer foreign exchange services in any of our Stores. We should be able to convert your KRW to U.S. dollars on the spot. As you'll be opening an account with us, the fee to convert your KRW to U.S. dollars should be $7.50, in addition to foreign exchange rates at the time of the conversion.
The quickest and safest way to move your funds from Korea to the United States may be with a wire transfer. If your bank in Korea will allow international wire transfers to be initiated online or by phone, you may be able to provide them with our Swift Code and your banking information to have your money wired to your account here with TD Bank.
We recommend discussing your plans with your Korean bank. They have suggestion for the best way to move your funds, such as a bank draft in U.S. dollars that you can deposit here at account opening.
As for closing your account when you go back to Korea; it couldn't be easier! Just stop in to see us before you leave and we should be able to close out your account and provide you with your balance.
As an additional recommendation, we encourage reaching out to the Store you intend to visit prior to your trip to ensure that the ID you have will be sufficient for account opening. You can find contact info and hours for any of our Stores by clicking here: https://go.td.com/1nq31dc.
We hope you find this information helpful, Tae. If you have any additional questions, please don't hesitate to reach out to us here or give us a call. To contact us by phone from outside of the United States, please use country code 011 and call 856-751-9000 or call us collect from a landline with operator assistance at 215-569-0518. We have representatives available 24 hours a day, 7 days a week to help.
We hope you're having a great day, Tae!
Candice A, Mount Laurel
October 12, 2017 05:32:24 PM