Why won't brokers open account for me?

S

sakimonohito

I have a strange problem. I opened my previous brokerage accounts several years ago when I still lived in the US. However for almost 7 years I have lived abroad.

In that time my drivers license has expired and I don't make any utlity payments under my name in the US. All the brokers I talk to say they must have a utlity bill with a US address. Instead I offer them my passport and they say its not proof of who I am? Its a funny little circle I'm in, if I had proof besides my passport this wouldn't be a problem, but the only thing I can think of is to get a notarized document from the US embassy where I am stating that I am me.

Any suggestions?
 
Quote from sakimonohito:

I have a strange problem. I opened my previous brokerage accounts several years ago when I still lived in the US. However for almost 7 years I have lived abroad.

In that time my drivers license has expired and I don't make any utlity payments under my name in the US. All the brokers I talk to say they must have a utlity bill with a US address. Instead I offer them my passport and they say its not proof of who I am? Its a funny little circle I'm in, if I had proof besides my passport this wouldn't be a problem, but the only thing I can think of is to get a notarized document from the US embassy where I am stating that I am me.

Any suggestions?
More...
 
have you tried IB? I am also not living in the US and was able to get an account... say you are not a permanent resident
 
Quote from sakimonohito:

I have a strange problem. I opened my previous brokerage accounts several years ago when I still lived in the US. However for almost 7 years I have lived abroad.

In that time my drivers license has expired and I don't make any utlity payments under my name in the US. All the brokers I talk to say they must have a utlity bill with a US address. Instead I offer them my passport and they say its not proof of who I am? Its a funny little circle I'm in, if I had proof besides my passport this wouldn't be a problem, but the only thing I can think of is to get a notarized document from the US embassy where I am stating that I am me.

Any suggestions?
More...


Sounds like you're trying to prove you live in the US - but you don't. Why can't you provide your address in the country that you are in and then prove this? If you don't have utility bills, try rental agreement or a Bank statement.
 
Steve,

That was indeed the problem. I don't live in the US. I assumed I had to provide a US address. I changed the address to reflect my current residence, not permanent (eventhough my permanent address IS in the US.).

A bit of a sily loophole but now I know the name of the game; make 'em think they know they're in control.

:eek:
 
By Etrade you can EASILY open brokerage account and live anywhere in the world.
Minimum is just $1000 and form is simple.
The only problem like non US habitant you will not get better comission per trade than $9.99 /even if you have enough activity for further discount/.
But this is the only US brokerage -non US citizen- friendly. IB has much more requirements.
 
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