How To Open US Bank Account For Non-US Resident and Adwords arbitrage

These days one US bank account seems necessary for every Non-Resident US Internet markter because of Paypal and google Adwords arbitrage purpose. Let me explain these in details. Suppose you have a paypal account and you are from outside of US and you take your payments using paypal so if you want to withdraw your money , you've two options-

First- You withdraw your money to Xoom.com account or to some website like xoom.com . You've to pay them $13 processing fee. They will give you lower exchange rate and atleast 3 days waiting.

Second- You ask paypal. They will send you a check via snail mail and it'll take atleast 15 days . Rush to your nearest bank and stand in queue and drop the check and wait again for 7 to 25 days more.

Pain! Pain! Pain! I cant wait.

Besides , there are many problems associated with this problem. Suppose you run a adwords campaign for clickbank, cj , azoogle etc affiliate product and your adwords a/c need daily supply of sufficient fund and so your bank is eager to charge you high as far as possible for spending every dollar. So , if you dont have sufficient cash at hand running an online business is not easy. I say almost impossible. And if you've to wait for your hard earned US cash for so many days you may have to stop your online business for shortage of cash and restart again when you'll get your cash , so a 15 days to 30 days gap can lead to loss of thousand to thousands of dollars. If there is any option so that you can withdraw cash on demand and fund your Adwords account uninterruptedly then it'd be really nice. Solved! Yes solved! Follow me for two minutes.

You need a US address [one time investment of $23 for life time] , you need a US bank account [FREE] and US Debit card [FREE] and interestingly you can get them almost free. Now if you have one US bank account and US debit card from the bank you can fund the bank account through your paypal account and hence your Debit card and use this Debit card for google Adwords account [nice option for guys without credit card] . Now sale your own product [if you dont have your own product go to http://7dollaroffers.com] using Paypal as payment processor and advertise your product using google adwords advertising to make sales , i say it adwords arbitrage - a new concept.

Let do a simple maths- suppose you are selling a $20 product through google adwords and your cost per conversion is $5. Now-

You spend paypal $5 to sale 1 product and you get $20 in your paypal a/c
You -------------- $20 --------------------------- $80 -------------------
You ----- ---------$80 --------------------------- $320 ----------------
............. ...... .......

You -------- ------$1000 -------- ----------------$4000 -------------

How's that?? I am doing Adwords Arbitrage successfully from last 27 days and give a look at the screen shot below--

I last withdrew money on 14 april so this is my earning from passed 13 days. Not bad! For the first time i am selling my own product although i earn quite good as a clickbank , cj and linkshare affiliate. But $1448 within 13 days is not that bad and i am writing my another own product to sale using google adwords arbitrage technique.

Now come to the point of US address , Bank a/c and Debit card.

Step-1: You need a US address . Go to http://usa2me.com and register bronze version for $23.

Step-2: Register one new paypal a/c with the new US mailing address. It is free and not against TOS. You can open more than one paypal a/c for business purpose. I've three from last 2 years and i am opening them from a single PC , no problem.

Step-3: Now you need a US bank account.

download this pdf format form: E*Trade Brokrage Application [check here for update https://us.etrade.com/e/t/home/openanaccount ]

Step-4: [For this section credit goes to Interenet marketer Deepak Arora's http://myimblog.com ]

How to fill-up the form:

1. Account type: Mark the box labeled individual account.

2. Put your name, initial of middle name and Last name in the fields under “Primary Account holder. Leave the whole “Co Account Holder” side of the form blank.

3. Put your “HOME” address under address. NOT your US address.

4. Put your Home and Business phone numbers in the next field. The format must be “+91(0)9910670401”. Copy the format.

5. Mark the boxes “no” under the next three options on this side of the form and continue to the next page.

6. Put your passport number under the passport number field.

7. Put your Country under the “passport country of issuance and the “country of legal residence and the “Country of citizenship”

8. Move on to “create your investment profile” just below this.

9. Select the boxes “capital preservation”, “none”, “your income”, “you’re approximate net worth”, and “your approximate liquid worth” . I would select a medium income for all these to be safe.

10.Under (4) “Select your account features”, under “taxable income” select Etrade Financial sweep deposit account. It’s the first choice in the list.

11.Leave the “Tax exempt Income” Blank.

12. Cash management features, select “free check writing” and NOT The debit card option. This will come later and you will be charged for it if you select it now.

13.Leave the rest of the form blank and continue.

14. On page 3, under “Fund your account” select the last option “I plan to wire funds from another financial institution.

15.Under “ Sign and date your application” , select “ I am not a US person “

16.Sign this page and move on to page 4.

17. Leave Page 4 blank, but sign and include it.

18.Under” Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding “

19.Under “Name of individual or organization that is the beneficial owner” put your own name

20.Under “Country of incorporation or organization” put your own country.

21.Under “Permanent residence address” put your street address.

22.Under “City or town, state or province. Include postal code where appropriate.” Put your city , then state/province , then postal code

23. Under “country”, put your country.

24. “Claim of Tax Treaty Benefits (if applicable)” tick box a) and put in your country.

25.Leave the rest of the form blank , Expect put “self” under the “category under which acting”

26.Sign and date the form.

Now you’re done with the forms.

Step-5:

#1: PRINT OUT ALL PAGES (5 pages total)
- Application Form 4 pages - in JPEG format
- Non-US Resident Declaration Form 1 Page - in PDF format
Note: You MUST use Adobe Reader to open the Declaration Form.

#2: VERIFY ALL PERSONAL DETAILS
Make sure your name is spelled correctly, address, passport number, etc. are correct. Page 4 of 4 of the Application Form is entirely blank. Leave it that way. But sign it.

#3: SIGN; WRITE your name in CAPITALS and today’s DATE on Page 3 of the application Form.

#4: SIGN and write today’s DATE on the Declaration Form

#5: MAKE A PHOTOCOPY of the photo-page of your passport. Please make sure it is very clear! – Make two copies – they will need two.

#6: PUT THEM IN AN ENVELOPE AND MAIL to the address on top-left of Page 1 of the Application Form. DO NOT encloses a check or cash as initial deposit. Wait for your account number to be issued first instead, then make your initial deposit by wire transfer or by adding it to your PayPal account.

Once you have your account number, you can immediately add to your PayPal account to be confirmed and verified.

When E*Trade Financial receives your application, your account will be opened within 1 week.

You will receive an email notification at your supplied email address.

For FASTEST service, I recommend you use UPS or Fedex.

Once you get that done, then login to your account and request a debit card. Comes via FedEx in a couple of days. Download money from PayPal to your Etrade account and withdraw at your local ATM.

The Advantage of the Debit card:

You can add this card to your adwords a/c.

You can withdraw your money whenever you need from paypal a/c from your local bank ATM.

Since dollar value is falling and Xoom.com etc website are offering a very low exchange rate if you've a debit card you can get a good exchange rate [according to latest closing value in your country stock market].

Hope this post will help you. Constructive comment appreciated. Thank you.