I posted here because I thought this would be one way of saving money e.g. on transaction fees.
I was thinking about opening a bank account to save money on overseas transactions fees and to kerb any negative effects if the AUD goes down (if I transfer the money over when the exchange rate is good). So I found out that HSBC has a service that allows a non resident to open a bank account in the US but apparently it cost $200 to do so!
So my question is, are there any other banks that do this and cheaper? Have there been any other Australians who have done this in the past? I will be staying a minimum of 3 months, though I desire to go for longer (if I can get the tourist visa), so I figured that for 3 months or more it would be worthwhile opening a bank account? I think there might be some tax implications as well, any idea where abouts on the IRS website I could find out information on this?