gargamon Posted February 17 Posted February 17 What did you use for proof of residency? A certificate of residency from immigration? Copy of lease? Bank statement? Thanks in advance
retarius Posted February 17 Posted February 17 Great question....here's. follow-up can Thai's open a Charles Schwab account?
gargamon Posted February 17 Author Posted February 17 (edited) 14 minutes ago, retarius said: Great question....here's. follow-up can Thai's open a Charles Schwab account? From my readings I would say yes. The account is for non US residents/citizens to allow them to invest in the US market. There's a list of countries to choose from on the website. You have to click on the country and it will let you know. Thailand: yes. Philippines: no. Canada: no. This is residence country, not citizenship country. Apparently it depends on the tax treaties. Edited February 17 by gargamon 1
Popular Post sas_cars Posted February 17 Popular Post Posted February 17 I did. But it's been a while. I think I used my credit card statement as address proof (showing my address in english offcourse) Also, make note that you need USD 25K minimum balance for the Schwab international account. 2 1 1
retarius Posted February 17 Posted February 17 4 minutes ago, gargamon said: From my readings I would say yes. The account is for non US residents/citizens to allow them to invest in the US market. There's a list of countries to choose from on the website. You have to click on the country and it will let you know. Thailand: yes. Philippines: no. Canada: no. This is residence country, not citizenship country. Apparently it depends on the tax treaties. I'll look into it. Schwab used to have quite low fees when I lived in the States, but I always used Vanguard who are rock bottom.
gargamon Posted February 17 Author Posted February 17 6 minutes ago, retarius said: I'll look into it. Schwab used to have quite low fees when I lived in the States, but I always used Vanguard who are rock bottom. Vanguard is the reason I'm doing this. Foreign addresses will soon cause drastic reductions in what you can do in Vanguard's funds. No moving money around between funds. Only able to withdraw. So I'll move a bit from Vanguard to SI and see how it goes. Apparently you get one of those Schwab ATM cards everyone seems to covet so much too.
riclag Posted February 17 Posted February 17 I suggest you call Schwab for advice! I have them ! But its not a international account and my residence is listed on file as USA. 2
retarius Posted February 17 Posted February 17 1 minute ago, gargamon said: Vanguard is the reason I'm doing this. Foreign addresses will soon cause drastic reductions in what you can do in Vanguard's funds. No moving money around between funds. Only able to withdraw. So I'll move a bit from Vanguard to SI and see how it goes. Apparently you get one of those Schwab ATM cards everyone seems to covet so much too. I haven't seen any messages about changes to service, but then again, my brokerage account with them has a US address. I do have trouble with Vanguard though, they won't accept me logging on from here in Thailand. I have to call and get a representative to grant me access. It is a pain. They tell me there are too many scams from Thailand.
gargamon Posted February 17 Author Posted February 17 2 minutes ago, retarius said: I haven't seen any messages about changes to service, but then again, my brokerage account with them has a US address. I do have trouble with Vanguard though, they won't accept me logging on from here in Thailand. I have to call and get a representative to grant me access. It is a pain. They tell me there are too many scams from Thailand. I can log in fine if I VPN to the US, Canada, etc. Any country not restricted. 2
retarius Posted February 17 Posted February 17 1 minute ago, gargamon said: I can log in fine if I VPN to the US, Canada, etc. Any country not restricted. I tried the VPN route but they, or another bank technician, told me they all US banks have trackers that can detect VPNs. I don't know if that statement is true, but it was true in my case. Which VPN service did you use, may I ask?
gargamon Posted February 17 Author Posted February 17 1 minute ago, retarius said: I tried the VPN route but they, or another bank technician, told me they all US banks have trackers that can detect VPNs. I don't know if that statement is true, but it was true in my case. Which VPN service did you use, may I ask? I use torguard. Worked with nordvpn too before I abandoned them.
retarius Posted February 17 Posted February 17 2 minutes ago, gargamon said: I use torguard. Worked with nordvpn too before I abandoned them. I'll link into torguard, thanks. I used a service from Pattaya previously, but it was $100 a year and wasn't doing the job, so I stopped using them. Thank you for the info.
Popular Post HugoFastor Posted February 17 Popular Post Posted February 17 Typically bank statements are one of the best things for proof of address and are often the most widely accepted by other financial institutions. You may also want to consider Interactive Brokers as an alternative to Schwab. They are much more accommodating to investors living outside the USA. 1 2
NoDisplayName Posted February 17 Posted February 17 If you read the details on the website, it's almost clear. I spoke to a rep about this a few days ago. My water bill is in my name, but all in Thai except for my handwritten name. My True fiber bill is in English, except for the home address in Thai. Rep could not say, told me to apply and let the processing team work it out. I didn't get around to asking about other forms, like yellow book or pink ID card or Thai DL. I spoke to a different rep about opening a US account, as I have an address and landline number, but no US cellphone. I said I live in Thai half time, in US half time, more or less, being retired. He told me I could list both US landline and Thai cellphone on the US account. Intl account has $25K minimum, US account has no minimum. Quote Recent utility bill (gas, electric, water, cable) or proof of residency Digital copy of recent utility bill must display your full name, residential address, and date of issuance. Valid Utility Bills include - Gas, Electric, Water, Cable, Landline Telephone (no mobile https://international.schwab.com/open-account-intro 1 1
gargamon Posted February 17 Author Posted February 17 16 minutes ago, HugoFastor said: Typically bank statements are one of the best things for proof of address and are often the most widely accepted by other financial institutions. You may also want to consider Interactive Brokers as an alternative to Schwab. They are much more accommodating to investors living outside the USA. I was filling out the paperwork and was looking to use a k-bank statement, but it had the wrong address, so I'll need to get that changed before I go that route. I'll have a look at international brokers. Thanks.
Roo Island Posted February 17 Posted February 17 I opened an account with Schwab several years ago. Just need your name on some utility bills. But it's not the same kind of account you can get in the US. Can't trade in some financial instruments. Their credit card is great. Service is fantastic. 1
HugoFastor Posted February 17 Posted February 17 9 minutes ago, gargamon said: I was filling out the paperwork and was looking to use a k-bank statement, but it had the wrong address, so I'll need to get that changed before I go that route. I'll have a look at international brokers. Thanks. The KBank statement with correct address should work. You can probably go to the bank, get your address corrected, and also get them to print a statement for you on the spot for a very small fee so that you don't have to wait a month for the next one to arrive by post. Also, Interactive Brokers offers a debit card too, but only to customers residing in the USA. I don't know about Schwab, but their debit card might also only be available to US residents.
gargamon Posted February 17 Author Posted February 17 17 minutes ago, NoDisplayName said: If you read the details on the website, it's almost clear. I spoke to a rep about this a few days ago. My water bill is in my name, but all in Thai except for my handwritten name. My True fiber bill is in English, except for the home address in Thai. Rep could not say, told me to apply and let the processing team work it out. I didn't get around to asking about other forms, like yellow book or pink ID card or Thai DL. I spoke to a different rep about opening a US account, as I have an address and landline number, but no US cellphone. I said I live in Thai half time, in US half time, more or less, being retired. He told me I could list both US landline and Thai cellphone on the US account. Intl account has $25K minimum, US account has no minimum. Quote Recent utility bill (gas, electric, water, cable) or proof of residency Digital copy of recent utility bill must display your full name, residential address, and date of issuance. Valid Utility Bills include - Gas, Electric, Water, Cable, Landline Telephone (no mobile https://international.schwab.com/open-account-intro Here's a snapshot of what you get when you get a bit deeper: 1
gargamon Posted February 17 Author Posted February 17 2 minutes ago, HugoFastor said: The KBank statement with correct address should work. You can probably go to the bank, get your address corrected, and also get them to print a statement for you on the spot for a very small fee so that you don't have to wait a month for the next one to arrive by post. I would hope changing the address would affect older statements too. Maybe not. I'll check after the address is changed then if not, I'll do as you suggest. Thanks. "Arrive by post"? You get statements in the mail? Easily downloaded if needed. 1
HugoFastor Posted February 17 Posted February 17 1 minute ago, gargamon said: I would hope changing the address would affect older statements too. Maybe not. I'll check after the address is changed then if not, I'll do as you suggest. Thanks. "Arrive by post"? You get statements in the mail? Easily downloaded if needed. I don't get monthly statements from any Thai banks so I don't know how they do it. If they do offer them online though then great. Any Thai passbook savings account won't typically provide statements at all though. So I'm assuming your KBank account isn't a passbook savings. All the overseas financial institutions I deal with do offer online statements. But some of them (by law) are still required to also send at least a quarterly or consolidated annual statement by post.
Bill97 Posted February 17 Posted February 17 (edited) 29 minutes ago, HugoFastor said: 29 minutes ago, HugoFastor said: I don't know about Schwab, but their debit card might also only be available to US residents. No you can get one with their international account for sure. Proof of address they accept US bank, credit card or financial institution statement showing Thai address. For international account application. Edited February 17 by Bill97
poobear Posted February 17 Posted February 17 Some extra information is there are no beneficiaries allowed on schawb international brokerage accounts so anyone inheriting from these accounts will have to go through probate. Even thai wife who is on on a joint account with me only receives %25 of that account upon my death before the rest has to go through both thai probate and a release form from any taxes due from the IRS. quite complicated. All my Ira accounts are still allowed beneficiaries. Pain to open account but Service is fantastic. No fees on atm or international money transfers. 1
gamb00ler Posted February 17 Posted February 17 (edited) For those receiving US Social Security benefits and who have an online SS account, you can download a benefit letter which will include your address. I have edited out my name and some address details. Edited February 17 by gamb00ler 1 1
gamb00ler Posted February 17 Posted February 17 2 hours ago, poobear said: Some extra information is there are no beneficiaries allowed on schawb international brokerage accounts so anyone inheriting from these accounts will have to go through probate. Even thai wife who is on on a joint account with me only receives %25 of that account upon my death before the rest has to go through both thai probate and a release form from any taxes due from the IRS. quite complicated. That would be a real nuisance for us. My wife is dual citizen US/Thai. Do you know if that makes a difference?
jaywalker2 Posted February 17 Posted February 17 6 hours ago, retarius said: I tried the VPN route but they, or another bank technician, told me they all US banks have trackers that can detect VPNs. I don't know if that statement is true, but it was true in my case. Which VPN service did you use, may I ask? You need to check your VPN on a website like doileak.com. It will tell you if you're leaking any information that can reveal you real location.
atpeace Posted February 17 Posted February 17 6 hours ago, riclag said: I suggest you call Schwab for advice! I have them ! But its not a international account and my residence is listed on file as USA. TD Ameritrade accounts have now been switched to Schwab. I'm Assuming my account is not international. Can they send your debit card to Thailand even with your US residence? TD Ameritrade wouldn't.
poobear Posted February 17 Posted February 17 13 hours ago, gamb00ler said: That would be a real nuisance for us. My wife is dual citizen US/Thai. Do you know if that makes a difference? all I know is it is huge hassle for My Thai wife in Thailand. Here is info from Schwab estate department. Schwab International Estate Specialist Dove Hagan dove.hagan AT schwab.com Use Skype (888) 297-0244 EXT. 53745-Fax 888-526-7252-Tel +1 (415) 667-8400 How to claim money from Schwab Schwab will require the following documents for the Joint and beneficiary accounts. 1. Copy of Probate or Succession Document issued by the Court naming the Executor/ Administrator of the estate. Make sure we get Steven gets named as controller of property for U.S. accounts. 2. Copy of the Executor/ Administrator’s valid Passport 3 *IRS Transfer Certificate*. The IRS requires you to send all the below information to: Internal Revenue Service Center Attn: E&G, Stop 824G 7940 Kentucky Drive Florence, KY 41042–2915 1. (a) Report of the Death of an American Citizen form U.S. Embassy (b) death certificate (c) copy of the photo page of the David’s U.S. passport. Write a letter saying you are the executor of the will and swear that this is the whole complete list of David’s assets and bring to Notary at a lawyers office and have them notarize it. 3. (a) One copy of asset inventory filed with probate authorities, with English translations if in another language. 4. (a) If Thailand does not have a death tax or inheritance tax, please provide a copy of the last income tax return 5. Copies of the David’s last will, with English translations. If any of the above-listed items are not available, write a letter and explain why. The executor/administrator will be required to reach out directly to the IRS to apply for the IRS Transfer Certificate. It takes IRS six to nine months from the time the IRS receives all necessary documentation to process and return.
mudcat Posted February 18 Posted February 18 Besides Social Security benefit statements or contact information one might see if Insurance documents would suffice (vehicle, life, health, etc.) to establish residence address as most us English in their addressing fields. I had considered Schwab as my backup should my current financial institution kick me to the curb. I rely on beneficiary statements for retirement and other brokerage accounts as well as bank accounts to get money to my wife or my stepson should my wife and I co-decease (through a trusted U.S. person). This document is institution specific, but is pretty comprehensive as to terms and limits. https://www.chase.com/personal/investments/learning-and-insights/article/what-is-a-beneficiary-and-what-is-the-importance-of-adding-one-to-your-account#:~:text=A beneficiary is an inheritor,beneficiaries to a single account.
mudcat Posted February 18 Posted February 18 Besides Social Security benefit statements or contact information one might see if Insurance documents would suffice (vehicle, life, health, etc.) to establish residence address as most us English in their addressing fields. I had considered Schwab as my backup should my current financial institution kick me to the curb. I rely on beneficiary statements for retirement and other brokerage accounts as well as bank accounts to get money to my wife or my stepson should my wife and I co-decease (through a trusted U.S. person). This document is institution specific, but is pretty comprehensive as to terms and limits. https://www.chase.com/personal/investments/learning-and-insights/article/what-is-a-beneficiary-and-what-is-the-importance-of-adding-one-to-your-account#:~:text=A beneficiary is an inheritor,beneficiaries to a single account. Grabbed the wrong link: https://www.chase.com/personal/investments/learning-and-insights/article/how-to-title-your-assets
riclag Posted February 18 Posted February 18 14 hours ago, atpeace said: TD Ameritrade accounts have now been switched to Schwab. I'm Assuming my account is not international. Can they send your debit card to Thailand even with your US residence? TD Ameritrade wouldn't. I don’t know. When my card was about to expire I got a new one in the states, they sent it to the address on file . I happen to be visiting the same time , so my daughter never had to send it to me. There was a thread a year ago with someone complaining that they canceled their account for living outside their service area, I believe. 1
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