People on F1 visa are considered non resident aliens. So we cannot make these investments. 1. Open one of those high yield savings account like discover, ally and get 2+% returns. 2. Open a fixed term CD and get 3+% 3. Real estate (difficult to get mortgage on F1) I've invested considerable amounts on money on VOO, VIX and I'm not willing to invest more into stocks (don't put all your eggs into one basket?). Where do you suggest I park my extra cash that would earn better than the standard 0.01% - 0.4% interest rates?
Wow you are rich, I barely had money to eat, I would not have thought about investment during college days
How are you able to invest in stocks and not have a high yield account?
For high yield accounts, you need to be a "US Person" - citizen, resident or resident alien.
Ummm. So I've had this type of account for sometime too. I just had agreed to all T&C. Looks like that's a problem? Is the best option to close the account?
are you sure a person on f1 opt is not allowed to open online savings account like discover ? I have been doing that for sometime now.
Yes I'm pretty sure. Visited a financial advisor.
Did you check out Goldman Marcus?
Yes. Not eligible for non residents.
If you are on F1 OPT, I can help you with # 1, 2, and 3. Plus more. PM me for my contact info.
Illegally?
We are the 6 largest Credit Union by assets, and majority of our clients works for big and small tech companies in the US, so we understand how L1, F1, TN and H1 visas works. All legit and FDIC approved.
@dododragon, just wanted to check if you found any online savings account that accepted non resident aliens. I am in the same boat
To invest in Vanguard index funds you need to be a resident alien too. So I don´t understand how you cannot make the first 3 investment types, but you can do the last one.
Same prob !