US Bank account with expat local address

[Presnock]

Recently, I read that due to new rules for US banks and possibly other countries as well are now requiring expats have a

US address in order to hold accounts.  Something to possibly due to anti-money laundering.  My BOA advised me that I have to

have a mobile phone at which they can check to insure my US address is my current residence versus my Thai address.  I have 

checked with other major US banks and they indicate that I cannot open an account from overseas.  Their online opening of

accounts includes a mobile phone number in the US.  Contacting the banks indicated the same, that I cannot open any US

bank account with a Thai residence and they must have a US mobile number to verify my US address.  I previously used my

daughter's address once I relocated to Thailand but now it appears they won't allow me to do that any longer.  Have any other

expats encountered this problem and if so have you been able to open a US bank account from overseas address.  Have seen some

references to same policy for UK and Aussie banks but don't know for sure about them.

[Jingthing]

Try State Department Federal Credit Union.

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[Pib]

It can be challenging to open a US bank account without  US address but some banks allow it like State Dept Fed Credit Union...and I've seen a few posts were people used their Thailand address to open a USAA bank account.   And a mobile phone number is not needed to open a bank account but not having a mobile number can make it harder and make using the account once open much harder.   

 

I've open several US bank accounts over the last few years but I was using an APO address...I "didn't" use a US mobile number, but I did use my Google Voice number which although can not be used to validate your address it still works fine to receive bank security codes.  Banks are drifing more and more towards requiring a US mobile number to logon and/or accomplish certain banking transactions, but that varies from bank to bank. A US mobile number is just another way to validate an address; not the only way.  

 

It really comes down to the Know Your Customer (KYC) polices of each bank....each bank has it own policies in complying with laws....laws that give banks leeway.   Some banks seem to not want to have anything to do with expats while others seems to have little issue especially if the account was opened before moving overseas.

Edited June 21, 2019 by Pib

[Presnock]

 

Thanks for the reply .PIB, Does one need to be a current or former State employee to open account at their credit union?  as for know your customer - I have been a customer for 50+ years although the BOA bought the bank that I began with.  For 30 years I lived mostly overseas and used APO address too. Guess they just don't want to work with this ex-pat

Presnock

 

[Jingthing]

2 minutes ago, Presnock said:

 

Thanks for the reply .PIB, Does one need to be a current or former State employee to open account at their credit union?  as for know your customer - I have been a customer for 50+ years although the BOA bought the bank that I began with.  For 30 years I lived mostly overseas and used APO address too. Guess they just don't want to work with this ex-pat

Presnock

 

No.

 

Just join either a low cost U.S. consumer group or the Americans Abroad lobbying group. You'll see the choices on their application. Easy peasy. 

Edited June 21, 2019 by Jingthing

[ThaiBunny]

4 minutes ago, Presnock said:

Thanks for the reply .PIB, Does one need to be a current or former State employee to open account at their credit union?  as for know your customer - I have been a customer for 50+ years although the BOA bought the bank that I began with.  For 30 years I lived mostly overseas and used APO address too. Guess they just don't want to work with this ex-pat

The length of time you've been transacting with a bank has nothing to do with Know Your Customer. They want to verify that you didn't open the account and keep operating it under a false name by proving your identity right now. My late father kept operating his dead brother's account for a number of years to hide his assets from my mother, until Know Your Customer caught up with him

Edited June 21, 2019 by ThaiBunny

[GinBoy2]

It's just getting tougher and tougher to fool the banks, and you're right it is all to do with stopping money laundering.

 

I'd used BoA for years, and when overseas used a virtual mail forwarding address, which was fine until I tried to open a new account and Boom, their software detected that it wasn't a physical address.

They were fine with me using my virtual US address as a mailing address, but I had to also provide a physical address. I never even tried to use my Thai address, I figured that was intuitively a non starter.

 

The tendency to require OTP codes can also be problematic. I know some banks still let you get away with using services like Google Voice, not BoA they again detect it as a virtual number. To get around that I ended up getting one of their SafePass cards to generate codes. 

 

It's a little trial an error to find a more lenient bank, but I think it's a trend that eventually will encompass all banks and banking services

[JimGant]

On 6/20/2019 at 4:28 PM, Presnock said:

I previously used my daughter's address once I relocated to Thailand but now it appears they won't allow me to do that any longer.

I'm not sure why that still wouldn't work. Yeah, I've heard where a few banks will ask to see a utility bill or like, with your name on it. However, that seems to be the exception, not the rule.

[wpcoe]

In the various threads where this has been discussed it seems that, in general, credit unions are the way to go.  My credit union (Alliant) is just fine with my permanent address being overseas, and several other people have mentioned the credit unions that they use are, as well.

[Sheryl]

Knock on wood, no issues yet. I originally opened my account with a US address but it's had my Thai address on it for more than 20 years now.

 

Mine is Lafayette Federal Credit Union which has a branch in the State Dept and a lto of State Dept employees bank there so foreign addresses aren't unusual for them.

[Martyp]

I'm using my sister's address with Bank of America. Of course I didn't make a point of telling them that. However, occasionally they will send something important, like a new ATM or credit card, to that address. My sister alerts me to any mail and we decide how to deal with it. I maintain a US phone number but I never turn that phone or esim on. 

[Presnock]

I too was a BOA long term member, lived overseas with an APO address for 35 years.  When my daughter checked w/several folks re the BOA new policy possibly being used to verify US address of customer, I asked on this forum last earlier this month and was advised about USAA and State DeptFed Cred Union too.  I tried the USAA with no luck and checked with the State and less than 2 weeks later I had a new checking acct which I can do on line or telephone call to send wire each month. I took out membership in the ACA which was not that expensive.  Have changed direct deposit to that acct and also have a Visa credit card enroute.  I too again thank those who advised this route as it appears that it will do exactly what my LONG TERM (50+ yrs) bank would not do.  Go figure!.  Thanks also to Thaivisaforum Chiang Mai!

 

[Pib]

I recently opened a SDFCU account...used my Thailand address.  Was approved 7.5 hours (i.e., same day) after submitting my application with all required documents like ID, Proof of Residence, etc...etc....etc.   I used the ACC (American Consumer Council) membership approach.  ACC membership is either $8/year or $15 lifetime...getting  the ACC membership online is really fast...just enter your address (I used my Thailand address although their system is geared to US addresses) and paid with my US credit card.  That all went fine, but you are not issued an ACC membership number at that time....takes a few minutes....within 10 minutes my ACC member certificate/number arrived via email. 

 

While applying for SDFCU membership I uploaded that ACC certificate as one of the docs when applying--just to prove I was  an ACC member already.  If you are not an ACC member already when applying with SDFCU one of the first things they have you select is a selection where you "Agree to become an ACC Member."   I expect SDFCU offers that selection since they know ACC is probably the cheapest organization to gain membership in....or they just have some special arrangement with ACC. 

 

Maybe that means they will forward something to you telling you how to gain ACC membership or maybe sign you up automatically....I don't know...just guessing....as mentioned I had already signed up with ACC.  Summary: if not already a member of one of the organizations that qualifies you for SDFCU membership the obtaining ACC membership at $8/yr or $15 lifetime is probably the cheapest and fastest way.

 

SDFCU also has a Visa no foreign transaction fee, no annual fee credit card that also pays 2% cash back.  I haven't applied for it since I already have multiple no foreign transaction fee credit cards that pay cash back, but I'm seriously thinking about applying.

 

 

[Roy Baht]

2 hours ago, Presnock said:

I took out membership in the ACA which was not that expensive. 

You mean ACC (American Consumer Council), right? 

[Pib]

12 minutes ago, Roy Baht said:

You mean ACC (American Consumer Council), right? 

 

But if he did mean ACA as in American Citizens Aboard (ACC) then the membership prices are below.  Going the American Consumer Counsel (ACC) route is much cheaper

 

American Citizens Abroad (ACA) Membership Fees

 

 

American Consumer Council (ACC) Membership Fees