US & UK Bank account

Check to see if your bank offers multi currency accounts. A friend of mine from the UK uses his CitiBank account for USD, GBP and EUR with his eBay business.

It is possible to open a bank account in another country but it's complex. I'm by no means an expert but, from what I understand, you have to give the power of attorney to a citizen from the country in which you want to open the account. Obviously, you'd have to trust this person!

Also PayPal offers Debit cards and can hold various currencies. Maybe this is an option also?

Barclays has branches in the US & UK and can handle accounts in either currency. HSBC is world-wide, too.

Opening an eTrade account used to work but I'm not sure if it still does (it did a few months ago though).

Anyway, just Google "etrade u.s. bank account" (without the quotes -- first organic result tells about this method).

It's not a true "bank account" in that it is supposed to be used as a 'trading account" or something like that -- but you can deposit any U.S. check in it with no problem, etc.

They do offer a debit card (or *did*). But I don't know if that offer applies to non-U.S. people still or not.

Hi CT,
I live in Indonesia, I have same problem with you too. I used to have a web development company which resell web hosting to my clients. They pay me in local currency,but I'm charges in USD that converted very wide spread in my VISA/Mastercard credit card.

In search for that solution, I know I will need a solution also for my affiliate marketing business and want a total solution so I can received my affiliate commission with direct deposit. I used to received affiliate commission by check. To withdraw US check, it need at least 45 days in local bank with cost more than $10 / check to withdraw it.

I research and doing lots of correspondence even buy an ebook just for the info for it. And basically up until now, I just find only 4 (four) good solution for international affiliate. All link below is not affiliate links.

1) Accent Banking

2) Virtual Money

3) ETrade Securities account and load it with more than US$ 1000 (minimum balance) to qualify a debit card so it will easier to withdrawal the money from local ATM. I don't know if Etrade still give US debit card to their securities account customer because they now redirect all customers from South East Asia to Etrade HK. But it's worth to ask.

4) HSBC. You need to apply to HSBC US and contact their international customer department. They will send you a package and you need to authorize the letter with local HSBC and provide them a clarification letter from your current bank that you are a good customer of them. You will need to send it back HSBC US and with several weeks to get approved.

Personally, I use solution no 3. There are many limits on solution no 1 & 2 especially if you want to build big affiliate marketing business. I already go for solution no 4, but too much hassle involved. So after use ETrade for almost 1,5 years, I'm a very satisfied customer. I use the debit card to pay my PPC cost, buy products in USD, received direct deposit commissions from CJ, Shareasale etc. Even for merchant that just can pay with US check, I collect them until have 3-4 checks and send it altogother to ETrade to deposit to my account. It's just cost $10 to send it to US for all the checks, and it's very fast to withdrawal checks with Etrade and there will be no currency spread ;)

Please let me know how you go with Etrade, especially if they still provide US debit card and direct deposit feature for new customers.

Hope this solution will helps all affiliate marketer outside US that face many challenge with affiliate commission payment / banking solution like I did.

best regards,

Sukarto

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