Change of Address online at Fidelity and Schwab While in Thailand - easy or any difficulty?

[BKK24]

Has anyone done this while in Thailand easily online?  
We're moving from US to Thailand soon and may have to rent first before buying a home, so may have to do the address change once or twice while in Thailand.  I know I can call them up and ask this question, but just want to get some real life experiences from those who are in Thailand.

We need these accounts and cannot close these accounts as we are  trading from these accounts regularly. If there will be any difficulty we want to know ahead of time and may decide to keep our US condo at the same time while only live part time in Thailand instead of full time.  We both have ira & brokerage account with them

Thanks in advance

[bamnutsak]

There are a lot of considerations involved in your relo and subsequent decisions: tax (U.S.), visa/ext (THL), communications. 

 

Is there any way to maintain an address, from your old/current one to a new one, in the U.S., perhaps via a family relation? IME that is ideal. Keeping the condo would make this easier.

 

I think, very broadly speaking, Schwab may be more ex-pat friendly. Fidelity should allow you to keep your account, but they may limit trading activity if you are outside the U.S.

 

With Fidelity you can change your contact info online.

 

Make sure you sort out communications issues BEFORE relocating. Specifically mobile phone/SMS for one time passwords. Google Voice works well with Fidelity.

 

 

 

 

 

 

[gargamon]

You're likely to need a state DL for the new address to change it. They're getting quite picky. Currently, state DL's address has supposedly been verified by the state and is therefore used by most of these companies.

 

You may want to set up a fake base address in the US. Full time RV people use them all the time. 

 

BTW, Vanguard closed my brokerage account when I was using a foreign address.

[BKK24]

On 6/24/2023 at 7:24 PM, bamnutsak said:

There are a lot of considerations involved in your relo and subsequent decisions: tax (U.S.), visa/ext (THL), communications. 

 

Is there any way to maintain an address, from your old/current one to a new one, in the U.S., perhaps via a family relation? IME that is ideal. Keeping the condo would make this easier.

 

I think, very broadly speaking, Schwab may be more ex-pat friendly. Fidelity should allow you to keep your account, but they may limit trading activity if you are outside the U.S.

 

With Fidelity you can change your contact info online.

 

Make sure you sort out communications issues BEFORE relocating. Specifically mobile phone/SMS for one time passwords. Google Voice works well with Fidelity.

 

 

 

 

 

 

Thank you for your insight
We're planning to port our US phone number with google, and already have GV number for backup for SMS one time password. GV number works with both Fidelity & Schwab, already tried it

Yes Fidelity will not let you buy mutual fund which not a problem for us as we're normally trading only ETF.  I will have to check with them again just to confirm for sure that I can change the address online by myself once in thailand.

We  can't call Schwab yet because we still have TD Ameritrade account. The merger between 2 companies won't be completed until Sept 5 this year

For regular banking - we open account with Navy Federal and they said they won't close our account when we live in Thailand, and can do regular banking functions normally.  My wife called and emailed to them to reconfirm this twice already. I'm not in a navy but as long as you know somebody in military they will let you open an account with them, so that's how we did it.

We rather not keeping  our US condo, just want to sell it and have a clean move. Also we're not in retirement age yet to withdrawal our social security, so we need the US house proceed to buy a new one in thailand.  We don't have any relative in the US, I'm not from the US and my wife is Thai. We want to move because this country is getting crazier and crazier by everyday

[BKK24]

On 6/24/2023 at 8:13 PM, gargamon said:

You're likely to need a state DL for the new address to change it. They're getting quite picky. Currently, state DL's address has supposedly been verified by the state and is therefore used by most of these companies.

 

You may want to set up a fake base address in the US. Full time RV people use them all the time. 

 

BTW, Vanguard closed my brokerage account when I was using a foreign address.

Yes we both have the state DL, but not aware that it's required to change the address at our brokerage firms. Certainly we will have to verify this with both companies.  Good point to be aware of....thank you

Yes it's getting more and more difficult by day to keep you account with many of US banking institutions, as if they don't like you to leave the country.  Who knows next they might charge you the exit tax too, they are talking about it in Illinoi & California. Thanks god I'm in Las Vegas - Nevada, and just flipped the state from blue to red, but the city mayor is from independent party - leaning right so I still have a bit of time to run way. 

It's easy to move physically but not so when it comes to banking & finance esp when you have more than just social security payment to  manage.

So what happen when they closed your Vanguard acct, did you find a replacement with another brokerage firm?

[gargamon]

12 minutes ago, BKK24 said:

So what happen when they closed your Vanguard acct, did you find a replacement with another brokerage firm?

Vanguard only closed the brokerage account and not the mutual funds. I rarely used the brokerage acct as I'm mainly in buy and hold index funds, so I really didn't need a replacement. 

[bamnutsak]

1 hour ago, BKK24 said:

Yes it's getting more and more difficult by day to keep you account with many of US banking institutions

Twenty years and counting for me. No issues at all. 

 

I've changed my mailing address at least four times in those years, all done online, and while I do have a current DL which matches, I have never ever been asked for it.

 

Access/registration for some services may require things like matching address on a credit report or a current utility bill. Maybe register for mySSA now, even though you are not receiving disbursements. It is possible to register and access mySSA via ID dot me.

 

Maybe look into a mail forwarding service in NV? 

 

If you have a Thai bank account already consider setting up a standing wire transfer order with Fidelity, these require a Medallion guarantee best done in person at a Fidelity branch.

[taxout]

Schwab US requires you to keep a US residential address on your account. If you cannot do that, they will suggest you open an account at Schwab International.

[BKK24]

On 6/26/2023 at 6:25 PM, bamnutsak said:

Twenty years and counting for me. No issues at all. 

 

I've changed my mailing address at least four times in those years, all done online, and while I do have a current DL which matches, I have never ever been asked for it.

.........

If you have a Thai bank account already consider setting up a standing wire transfer order with Fidelity, these require a Medallion guarantee best done in person at a Fidelity branch.

Thank you very much for all the details, but just some questions...

DL : US or a Thai license?

Medallion guarantee: What is it exactly, I have not heard of it before?

[BKK24]

On 6/30/2023 at 6:22 AM, taxout said:

Schwab US requires you to keep a US residential address on your account. If you cannot do that, they will suggest you open an account at Schwab International.

I really hope not my case (fingers crossed)  To be sure I'm sending bunches of questions one page long to them, I will post again and share all their replies once I receive them

Thank you

[Jingthing]

I don't think Fidelity will allow you to trade with a stated permanent foreign address.

If you call them with questions they are likely to put you on their suspected expat shut list.

I did recently change my US address with them online quite easily but with a US IP login.

[BKK24]

6 minutes ago, Jingthing said:

I don't think Fidelity will allow you to trade with a stated permanent foreign address.

If you call them with questions they are likely to put you on their suspected expat shut list.

I did recently changed my US address with them online quite easily but with a US IP login.

No calling, I just sent them the email asking about the address issue among other things.  I will share all their reply once I have them.  I'm hoping it should be OK since we have been with them for so long with quite large sum in our accounts all together.

We're still in the US, haven't move to Thailand yet and not sure if we still want to keep our condo here. If we have to keep our condo because of the address issue, then we might have to.  We're not that super wealthy, so money will stretch quite thin, since we're not at retirement age to withdraw from SS yet.

[Jingthing]

7 minutes ago, BKK24 said:

No calling, I just sent them the email asking about the address issue among other things.  I will share all their reply once I have them.  I'm hoping it should be OK since we have been with them for so long with quite large sum in our accounts all together.

We're still in the US, haven't move to Thailand yet and not sure if we still want to keep our condo here. If we have to keep our condo because of the address issue, then we might have to.  We're not that super wealthy, so money will stretch quite thin, since we're not at retirement age to withdraw from SS yet.

I'm pushing 50 years with them and it didn't stop them from harassing me for several years as a suspected expat. 

 

[KhunLA]

@BKK24

Fidelity will allow you to change, and I don't think I needed anything to do that, and simply verified ID via SMS or email, forget.  That was 1 time from TH.

 

I did change it back though, as stating CC/Debit T&C changes, though I didn't notice any.

 

I'm paperless, so don't need a USA address but I do use my brother's address & ph#.   Matter fact, he just moved recently, and since using his ph#, asked him to do the address change, since SMS would be sent to him anyway.

 

The less they know, the better AFAIC.  Tax wise, irrelevant since I don't pay any.

 

Soc Sec has my TH address & ph#, & DD to BBL

My pension will only use a USA bank, hence why I still have the Fid accounts.

 

Fid, if you don't know, need a 'Cash Management' Acct/CC/Debit card for Thai bank fee reimbursement for TH ATM use, for -0- fee ATM transactions.

 

Also if on Soc Sec, and you change to a TH address, you'll need to file a 7162/pulse check every year.  If USA address, not needed.

[BKK24]

1 hour ago, KhunLA said:

@BKK24

Fidelity will allow you to change, and I don't think I needed anything to do that, and simply verified ID via SMS or email, forget.  That was 1 time from TH.

 

Soc Sec has my TH address & ph#, & DD to BBL

.....

Fidelity & Schwab will accept google voice number for SMS, I have tried it already

What are these  "DD to BBL" above?

[KhunLA]

37 minutes ago, BKK24 said:

Fidelity & Schwab will accept google voice number for SMS, I have tried it already

What are these  "DD to BBL" above?

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