Incredible US banking ineptness

[Presnock]

4 hours ago, bradiston said:

Actually this thread was about US citizens having problems with US banks. Non-US have the same freedoms and liberties, so your smug suggestion we are some sort of poor distant cousins living in the dark ages is well wide of the mark. But most of us don't have the idiot's charter, which is  2A. I don't know what makes you think the chaotic gunfight that the US seems to be, is somehow superior to the relative calm in Europe and elsewhere!

and the knife fights?  ALso, EU is suffering from the same BIG problem illegal immigration of people that don't really want to become model citizens of the country to which they are fleeing.   The only thing we must remember, is that we are not native citizens and cannot be so very easily (unless one is female and marries of course) so we must relax and go with the flow so to speak with any and all rules here.

[bradiston]

5 minutes ago, Presnock said:

and the knife fights?  ALso, EU is suffering from the same BIG problem illegal immigration of people that don't really want to become model citizens of the country to which they are fleeing.   The only thing we must remember, is that we are not native citizens and cannot be so very easily (unless one is female and marries of course) so we must relax and go with the flow so to speak with any and all rules here.

Oh god, "illegal" immigration again. is there a thread this doesn't get dragged into? You can obtain Thai citizenship. There are rules. But it is possible and several foreigners who used to post here did just that.

[mudcat]

My plan if things go south with my too big to fail bank because I live here is move everything over to the State Department Federal Credit Union https://www.sdfcu.org/.

 

One needs to become a member of an affiliate organization but it seems a better option than cashing out retirement accounts.

[scorecard]

On 10/2/2024 at 1:18 PM, jaywalker2 said:

You've brought all your money over to Thailand?

Don't answer that question?

[Presnock]

2 hours ago, bradiston said:

Oh god, "illegal" immigration again. is there a thread this doesn't get dragged into? You can obtain Thai citizenship. There are rules. But it is possible and several foreigners who used to post here did just that.

Not easily! and in my opinion not worth the efforts.

[Everyman]

19 hours ago, bradiston said:

I too went through Filipina rehab. In Ban Chang, Rayong. 6 months careful nursing by the sweet ladies on the little strip there, cold Guinness in the oirish bar, with English footie, and excellent draught cider, and speckled hen at the bar come b and b whose name I can't remember, and I was right as rain. Great little condo apartment too.

 

🤔 

[Presnock]

On 10/2/2024 at 7:39 PM, jaywalker2 said:

No, as a US citizen you can't open a bank account with a US bank. Almost all banks and brokerages require that you have a permanent US address to apply. And they might also run a credit check. You might be able to open an account if you have an address in the US that you can use but you run the risk that they will close it if they find out you're living overseas

wrong  as there are US banks that will open an account even if you do not have a US address or phone number.

[Presnock]

On 10/3/2024 at 5:29 PM, flexomike said:

Without a US address it is getting harder to even maintain a US account, last month my IRA holder found out that I now live in Thailand and they froze the account, no trades no stocks, only cash in the account now. Luckily my main bank and credit card are still ok for now. Get this I now have to make 90 day reports to my US credit card company letting them know that I am on vacation in Thailand. Getting to be too much stress for me. Lets ad the possiblity of having to pay taxes in Thailand on top of everything else.

State Department federal credit union (SDFCU.org) will open accounts for Americans without a US address or US phone number.

[newnative]

On 10/3/2024 at 9:01 PM, gamb00ler said:

Schwab will open an International brokerage account for residents of Thailand.  They do required a minimum of 25K US$ but that can probably include IRA/Roth/SEP accounts.  I used their debit card to transfer the funds needed when we built our house.  I think they offer every service a normal bank offers except safety deposit boxes and they don't handle cash deposits/withdrawals.

 

I've been a Schwab customer since '87 and am very satisfied.  If I have a question I log into my account and have an online chat with a representative.  I've always received quick and accurate answers in those chats.  That service is available 24/7.  The know I'm in Thailand but the address on my account is still in US.

     I have a Schwab International account, too, for my stock portfolio and I am very happy with them, as well.

[rwilem]

On 10/1/2024 at 8:55 AM, jaywalker2 said:

And yet ithese banks seem to be handing out credit cards with no credit checks at all.  And even when you report a fraud, they act like they don't care.

Exactly. They don't care. They just write off fraud as the cost of doing business. They are not interested in any details one would have to assist in investigating these cases.