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Re: [sharechat] To open a brokerage account in the USA

From:	"David Renwick" <david.renwick@paradise.net.nz>
Date:	Sat, 5 Jul 2003 18:02:55 +1200

I hope that this is relevant.

When I opened a US brokerage acct with Datek (now Ameritrade) the W-8BEN form that was supplied I submitted with my application and has exempted me from US With-holding Tax. I'm entitled to divvies (which I've received & were automatically credited to my brokerage account.)

In my experience it pays to get confirmation that all forms have been received and processed. I've suffered several serious cock-ups by Ameritrade,viz, freezing my acct, deducting 90% of my acct for WHT, missing trades, part-filling trades but worst of all are very slow to respond, are sluggish to reimburse and have optd to credit brokerage rather than

credit the value of missed trades. All care -no responsibility.

Not great at kissing buttocks - unlike NZ brokers (I.M.E.)

David

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