How to claim a tax refund when you have no American bank Account
We’ll look at some of your options for collecting your tax refund if you don’t have an active American bank account in this guide.
1. Check if your banks accept American Cheque
Thousands of nonresidents want to receive a tax refund in the form of a cheque each year.
It’s important to note, though, that if you live outside of the United States, you can have trouble getting your tax refund because your home country’s banks may refuse to cash US cheques.
But, before you want to get your refund in the form of a deposit, make sure to check with your nearest bank to see whether they accept American cheques.
If not, you should probably move on to another alternative.
2. Tax refund in the future
Nonresidents will elect not to collect their tax refund and instead defer payment to a future tax return.
If you use this plan, you may be able to use your refund to offset any tax liabilities you might have for the next year. If you don’t owe the IRS much money, you’ll be able to demand a bigger refund on your next return (this year’s refund plus any money you owe next year).
For this, you might require the services of a tax preparer and you can find it easily in your city just like Tax Place Gilbert AZ.
3. Use TransferWise to get your tax return.
As previously said, having your tax refund sent to a bank account is without a doubt the most transparent and easiest method of collecting it.
TransferWise will assist you if you have left the United States and no longer have an active American bank account.
You will collect money from over 30 countries (including the IRS in the United States!) with no payments by opening a TransferWise multi-currency account.
You can even translate your refund from US dollars to your local currency at better exchange rates than you’d get at a bank!
You must deposit $20 to start your TransferWise account. Your account and routing numbers will be sent to you after that.
You can opt to collect your tax refund via wire transfer from the IRS once you have your TransferWise routing and account numbers. Simply choose ‘US Bank Transfer’ from the Sprintax drop-down menu.