I'm a foreign investor. And the fee to transfer my fund from local bank to zecco account is very high (oversea wire transfer). So I come up with the idea to transfer my fund in this way: paypal account -> US bank account -> ACH transfer -> zecco account. But there's a problem: i must have a bank account before i can use this method. How can i open a US bank account? Or if you have a better idea, please tell me.

sorry for my english and think you for your reply

Hi,

The way I did it was to open an account with E*Trade first. Click Here

Since you're not a US citizen you need to also fill in a W8BEN form. Click here

Then you must send both forms with a copy of your home country Passport.

Call E*Trade if you need help. They have excellent customer service. Of course, don't even think about trading there since their trade executions are not faster and of course, you have to pay through your you-know-what for every buy and sell order.

Sorry, I see the editor didn't post the links like they should have...

Here are the links...

https://http

https://http

Ok it's not letting me post links. Go to E*Trade and check the Home > Forms Applications tab.

Chances are you'll have better performance from their forum text editors too. Zecco's one is clearly leaving a lot to be desired.

Does e*trade brokerage account support ACH transfer??
Because as far as i know, almost all brokerage accounts don't have this function.

Zecco has ACH... as far as your situation with a US Bank I don't know alot about it. Consider contacting Wachovia http://www.wachovia.com/

Other easier online banking might be Bank Of America, US Bank Corp

I suggest contacting a bank and asking them, they will have more information

sorry, I mean, for example,
I can't set ACH transfer of my zecco account to my Scottrade account....

Does Zecco accept bank drafts, ie. a check drawn up by the bank, not a personal check? I asked my bank this very morning and they told me that expenses are minimal. An account funded in this way may take longer than a wire transfer but it is way much cheaper. I hope Zecco accepts this method of payment. Can you please enlighten me.

Hello gsf1101,

I am too a NRA (non resident alien)

I myself have a US bank account with Wells Fargo, and I'm able to do ACH transfers to and from my Zecco account, and from Paypal to Wells Fargo. I opened the account in a bank's branch in the US many years ago.

Most banks won't open a bank account unless you do it in person at a branch, but I know for sure there are some banks that will open it by mail. Just search for US bank account on eBay.

Good luck

guys check out https://http for zecco's funding and transfers policies

and http://www.zecco.com/ for funding and transfers FAQ

909-657-6655 or customerservice@http://zeccotrading.com for customer service

I think zecco can accomodate your bank account case.

Check with CitiBank. They tend to have first-in-class money transfer services including cross border transfers. Depending in which country you bank, you *may* be able to have a CitiBank account in your resident country and wire money with no cost except currency exchange to your US CitiBank account. I know for cerain this works from the UK, and from Canada it costs just USD 5.