Question for US Citizen with US-based Charles Schwab Account

connda · May 4

I have a brokerage account that used to be Datek, then TDAmeritrade, and now Charles Schwab.

I've got a couple of questions for those who still hold a US based account with a US residence address. Do any of you use your US address as your permanent physical address and your Thai address as a mailing address. The reason I'm asking is that I've obviously have had a brokerage account for a long time but I'm considering opening a bank account with them now too as I have to begin pulling money out of my IRA and I might as well bank it with Charles Schwab. Having a Charles Schwab debit card would be a plus with it's no foreign ATM fees.
So I was curious to know if they would mail the debit card to a Thai address? Has anyone done that?

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.
So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

jas007 · May 5

18 hours ago, connda said:

I have a brokerage account that used to be Datek, then TDAmeritrade, and now Charles Schwab.

I've got a couple of questions for those who still hold a US based account with a US residence address. Do any of you use your US address as your permanent physical address and your Thai address as a mailing address. The reason I'm asking is that I've obviously have had a brokerage account for a long time but I'm considering opening a bank account with them now too as I have to begin pulling money out of my IRA and I might as well bank it with Charles Schwab. Having a Charles Schwab debit card would be a plus with it's no foreign ATM fees.
So I was curious to know if they would mail the debit card to a Thai address? Has anyone done that?

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.
So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

I used to have a TD Ameritrade account and now have a Schwab account. I have a US mailing address, but I no longer have access to the phone number I have registered for that account. Anyway, for that reason I can't access the account. I haven't tried using a Thai number. So, for now, I guess, the account just sits there. I have stocks in it, but none I was planning on selling anytime soon, so I just leave it alone. I have two other brokerage accounts and I just switched to using one of those for new buys. I suppose I'll straighten it all out at some point if I'm back in the USA for a visit.

I could try a Thai mailing address, I suppose, but then I'd have to get into a discussion with them as to why I'm in Thailand and why I no longer have the old phone number. So, I haven't bothered. I left a message for them one time, but they never got back to me.

What I should probably do is switch the whole thing to a Schwab International account, but then I'd have the same problem as you about the beneficiary. No wife, but I have my niece listed as the beneficiary. The alternative would be to switch the stocks out of that account and into another of my US accounts onceI have access..

LivingNThailand · May 5

19 hours ago, connda said:

So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

I haven't read the responses yet, but I have a Charles Schwab debit card and a US credit card. When I need a replacement I call them and tell them I am currently temporarily living in Thailand and can they mail it to me. They usually Fed Ex it or something like that and charge me $15. I've done this a few times and no problem. The Schwab debit card is very handy and if you use the ATM they reimburse you the 250 THB ATM fee at the end of the month.

Edit: You have to have a US phone number though if you want the fraud alerts, etc. I use my brothers phone number and he doesn't mind. Since Skype is going bye bye, I'm thinking about getting a new calling app with a phone number I can access. Just got to figure it out....I have enough credit for about a year so no rush.

Hawaiian · May 5

Two ways to contact Schwab from Thailand: By mail:

Charles Schwab & Co,

International Account Solutions

P.O. Box 982601

El Paso, TX 79998-2601

USA

By phone: 001-800-12-066-4363

Hawaiian · May 5

5 minutes ago, Hawaiian said:

Two ways to contact Schwab from Thailand: By mail:

                                                                      Charles Schwab & Co,

                                                                      International Account Solutions

                                                                      P.O. Box 982601

                                                                      El Paso, TX 79998-2601

                                                                      USA

                                                         By phone: 001-800-12-066-4363

https: international.schwab.com/expatriate-essentials

StandardIssue · May 5

You might want to see about getting a PMB (private mailbox) in your local USA town. Most all do mail forwarding and they are very handy for making sure you get all your business mail in the same place if you are a frequent traveler or live abroad half the year and home the other half. Saves any of this mess revealing your travel to Thailand or other countries for extended time. I prefer to not reveal my travel and just use the PMB and forwarding service rather than mess about with contacting individual banks, insurance companies etc have mail forwarded.

As far as phone number, yes get a Google Phone number or other VOIP service (skype is going away but there are others)

LivingNThailand · May 5

12 minutes ago, StandardIssue said:

You might want to see about getting a PMB (private mailbox) in your local USA town. Most all do mail forwarding and they are very handy for making sure you get all your business mail in the same place if you are a frequent traveler or live abroad half the year and home the other half.

That's what I have, a PMB. I call them every so often and have them forward the mail. Can be a bit pricy. Make sure they only forward first class mail or you will get catalogs, and junk mail. You can also have your debit card sent to the PMB and have them forward it to you. But I've never had any problem having Schwab sending me a card to Thailand, I just say I live here part time. If you have something like Skype you can call their 800 number.

BTW, it is a good idea to get the fraud alerts if you can. They can be sensitive to certain types of internet purchases and decline the card unless you verify. For example I bought something from Apple Thailand and it was declined until I straightened it out. Electronics and Travel internet purchases are two hot spots for them. Clothing and other types of purchases not so much.

davb · May 5

19 hours ago, connda said:

Do any of you use your US address as your permanent physical address and your Thai address as a mailing address.

I live in Thailand, but my banks require a US address. What I did was set up a personal mailbox with https://www.escapees.com/

They offer a service where they will scan each envelop that arrives and, if you want, you can have them open it and scan all the contents and upload to their website for you to read.

They will also save your physical mail and you can have it put in a box and shipped to Thailand. The one thing they won't send here is packages.

So far the banks, and Wise, accept it as proof of a physical address and residence in the US. For example, I have my bank statement physically sent there and it is considered proof of physical residence (but if the banks crack down further and require a rental agreement or utility bill, then I'll need to do something else).

You could open an account with them, have the debit card sent there, have them scan it so you can use the debit card online, and then have the service send it to you in Thailand. Some financial services aggressively cancel accounts for expats, so this may be the safest approach instead of asking your company to send it here.

For receiving US based phone calls and SMS, I have a US number with https://parkmyphone.com/ They record voicemail and forward text messages to my email. For me, this has worked about 80 percent of the time - I think it's possible for a company to detect it's VOIP and some will refuse to use it. But for me, it's been OK. I can't make outgoing calls with that number, though, but can do outgoing text message responses.

There may be better or cheaper services out there, but these have worked for me.

Equatorial · May 5

I am surprised. I looked into a similar service with a different provider, https://www.texashomebase.io/ .

Their FAQ states (https://www.texashomebase.io/faqs) :

You cannot use a CMRA (Commercial Mail Receiving Agent) as a "physical address" for bank accounts because of the Patriot Act. You can use our address as the "mailing address" but would need to use a friend or family member's address for the "physical" requirement.

Rumpelstilskin · May 6

Have used Charles Schwab international for 8 years with zero problems. When you need a new card they send it pronto via DHL bo charge. Wire transfers to SCB bank at no charge. ATM charges are reversed.

Suitcase · May 6

I’m getting a Schwab account so I can withdraw money while in Thailand

I have been using Wise but since last summer, it’s been taking 4 to 6 days for them to transfer the money out of my bank account here in the USA

Before that, it only took seconds

i’ve asked Wise why it’s taking so long, but I never get an answer

BritManToo · May 6

9 minutes ago, Suitcase said:

I’m getting a Schwab account so I can withdraw money while in Thailand

I have been using Wise but since last summer, it’s been taking 4 to 6 days for them to transfer the money out of my bank account here in the USA

Before that, it only took seconds

i’ve asked Wise why it’s taking so long, but I never get an answer

What was wrong with keeping a month's money in wise?

No need to wait then.

kimothai · May 6

On 5/4/2025 at 5:38 PM, connda said:

I have a brokerage account that used to be Datek, then TDAmeritrade, and now Charles Schwab.

I've got a couple of questions for those who still hold a US based account with a US residence address. Do any of you use your US address as your permanent physical address and your Thai address as a mailing address. The reason I'm asking is that I've obviously have had a brokerage account for a long time but I'm considering opening a bank account with them now too as I have to begin pulling money out of my IRA and I might as well bank it with Charles Schwab. Having a Charles Schwab debit card would be a plus with it's no foreign ATM fees.
So I was curious to know if they would mail the debit card to a Thai address? Has anyone done that?

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.
So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

You are correct about assigning a beneficiary to a individual brokerage account in a Schwab International account (ie :you can't. I tried unsuccessfully). You can make an individual a "trusted person" who can have full control of your account. I believe that the "trusted person" is canceled upon your passing. You can have a beneficiary on a Roth IRA and I'm assuming a 401k is the same (I currently have a beneficiary on a Roth). I know this doesn't answer your specific question, just FYI.

keysersoze276 · May 6

On 5/4/2025 at 5:38 PM, connda said:

I have a brokerage account that used to be Datek, then TDAmeritrade, and now Charles Schwab.

I've got a couple of questions for those who still hold a US based account with a US residence address. Do any of you use your US address as your permanent physical address and your Thai address as a mailing address. The reason I'm asking is that I've obviously have had a brokerage account for a long time but I'm considering opening a bank account with them now too as I have to begin pulling money out of my IRA and I might as well bank it with Charles Schwab. Having a Charles Schwab debit card would be a plus with it's no foreign ATM fees.
So I was curious to know if they would mail the debit card to a Thai address? Has anyone done that?

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.
So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

I have a Schwab account with my mother on it and I use her US mailing address, but I have contacted Schwab and asked if they would ship the debit card to Thailand and they said it was no problem. Just contact them. Their customer service and fraud protection are top notch.

Presnock · May 6

On 5/4/2025 at 5:38 PM, connda said:

I have a brokerage account that used to be Datek, then TDAmeritrade, and now Charles Schwab.

I've got a couple of questions for those who still hold a US based account with a US residence address. Do any of you use your US address as your permanent physical address and your Thai address as a mailing address. The reason I'm asking is that I've obviously have had a brokerage account for a long time but I'm considering opening a bank account with them now too as I have to begin pulling money out of my IRA and I might as well bank it with Charles Schwab. Having a Charles Schwab debit card would be a plus with it's no foreign ATM fees.
So I was curious to know if they would mail the debit card to a Thai address? Has anyone done that?

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.
So just checking to see if anyone else with a US account and a US physical address has used a Thai mailing address to receive their debit card.

The State Department Federal Credit Union (sdfcu.org) offers a full bank account with credit cards, etc with a foreign address. When BOA closed my acct of 50+ years as I no longer had a US address nor phone number,, I was able to open my sdfcu acct just by joing one of about 30 different organizations (I joined American Citizens Abroad) and once you open the bank account I don't think you have to remain a member of whatever organization. One does not need to be a govt employee, military or anything like that to open an account there. I have been a member for over 5 years and have had no problems whatsoever with the bank. My pension check goes to that bank too and then I have them forward money to Thailand. The SDFCU also advertises that one can use a WISE account for forwarding of money instead of the bank forwarding as it might be a tad cheaper but I have always used the bank forwarding .

RayOday · May 6

On 5/5/2025 at 12:39 PM, LivingNThailand said:

I haven't read the responses yet, but I have a Charles Schwab debit card and a US credit card. When I need a replacement I call them and tell them I am currently temporarily living in Thailand and can they mail it to me. They usually Fed Ex it or something like that and charge me $15. I've done this a few times and no problem. The Schwab debit card is very handy and if you use the ATM they reimburse you the 250 THB ATM fee at the end of the month.

Edit: You have to have a US phone number though if you want the fraud alerts, etc. I use my brothers phone number and he doesn't mind. Since Skype is going bye bye, I'm thinking about getting a new calling app with a phone number I can access. Just got to figure it out....I have enough credit for about a year so no rush.

Exactly my experience. Schwab did it for me in China as well. I have found Schwab's customer service to be excellent. The service process is focused on owning and resolving the client's issue. No circular processes without the agent having the authority to do something, no hand offs.

I used Skype as well and successfully ported my number to TossibleDigits. Set up was too easy and fast. Price is cheap. I use it for OTPs but the service app has additional functions. I get the code via email. I am sure there are alternatives.

RocketDog · May 6

On 5/5/2025 at 12:39 PM, LivingNThailand said:

I haven't read the responses yet, but I have a Charles Schwab debit card and a US credit card. When I need a replacement I call them and tell them I am currently temporarily living in Thailand and can they mail it to me. They usually Fed Ex it or something like that and charge me $15. I've done this a few times and no problem. The Schwab debit card is very handy and if you use the ATM they reimburse you the 250 THB ATM fee at the end of the month.

Edit: You have to have a US phone number though if you want the fraud alerts, etc. I use my brothers phone number and he doesn't mind. Since Skype is going bye bye, I'm thinking about getting a new calling app with a phone number I can access. Just got to figure it out....I have enough credit for about a year so no rush.

Look at UltraMobile sim cards. I've had one for over a year and got it here before I went back last May to sell my house. I've had skype for several years but it's such a clusterf##k app I won't miss it.

Have the Ultra sim in my phone and if you only call using a wifi connection calls are unlimited to any usa number and they gave me a usa number as well so anybody can call me from usa. If you subscribe for a year it's only slightly more than skype at $15/yr.

rwill · May 6

On 5/4/2025 at 5:38 PM, connda said:

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.

You can open a joint account. That's what the wife and I use.

newnative · May 6

59 minutes ago, rwill said:

You can open a joint account. That's what the wife and I use.

Yes, that's what my spouse and I have.

udontomi · May 6

I have a US Schwab brokerage and checking account with a Thai address and mailing address. No problems at all! 2-3 months before my debit card is to expire, I call the to make sure they will send them to my Thailand address. I don't remember them charging me for the UPS/FedEx delivery. I don't have a US phone number, only a Thai one.

TallGuyJohninBKK · May 6

On 5/4/2025 at 5:38 PM, connda said:

I know I could open a Charles Schwab International account, but I don't believe you can assign a beneficiary with that account. That's important as I don't have a US "Will" and when I die those funds need to be transferred to my wife who is my beneficiary which is set up for my IRA and Individual brokerage account (TOD). So at this time I'm not looking at the International account.

That's correct.... I don't believe Schwab International accounts allow POD beneficiaries...

But, one thing a person supposedly could do -- which is something I'm exploring -- is have the Thai spouse open a Schwab international account in her name and based in Thailand. And then, the U.S. person with a Schwab account can name the Thai spouse as their POD beneficiary...

And as I understand it, if the U.S. person dies in that scenario, Schwab would follow the U.S. account POD instructions and would move/transfer the U.S. person's Schwab accounts to the beneficiary Thai wife's Schwab international account, all done via an internal Schwab process.

TallGuyJohninBKK · May 6

5 hours ago, Presnock said:

My pension check goes to that bank too and then I have them forward money to Thailand.

@Presnock, when you talk about using SDFCU to transfer your funds to Thailand, what exact method are they (you) using -- an international wire transfer initiated from within SDFCU's online banking platform (if so, what's their fee for that)? Or some other route?

TIA!

farangkinok · May 6

On 5/5/2025 at 12:39 PM, LivingNThailand said:

I haven't read the responses yet, but I have a Charles Schwab debit card and a US credit card. When I need a replacement I call them and tell them I am currently temporarily living in Thailand and can they mail it to me. They usually Fed Ex it or something like that and charge me $15. I've done this a few times and no problem. The Schwab debit card is very handy and if you use the ATM they reimburse you the 250 THB ATM fee at the end of the month.

Edit: You have to have a US phone number though if you want the fraud alerts, etc. I use my brothers phone number and he doesn't mind. Since Skype is going bye bye, I'm thinking about getting a new calling app with a phone number I can access. Just got to figure it out....I have enough credit for about a year so no rush.

I use MagicJack VoIP which has a phone number with an area code in the Continental USA. I can call anywhere in the USA for free using the MagicJack "app" on a mobile phone. The service is not free of course, but I feel it's worth the convenience.

BuyBitcoin · May 6

If you are here (or anywhere overseas) long term, I recommend a mail forwarding service. Personally I use Traveling Mailbox and its been great, but there are many registered commercial mail services. I use it with Schwab as my mailing and then have them forward it on. Has saved lots of headaches over the years. Alternatively, as others have mentioned, I would probably just give them a call and say you are overseas for 3 months and need a new card etc. They will likely send it.

As for the phone, I transferred my verizon number to google voice for like a 25 dollar one time fee, and now have google voice with a real US number, free forever. Works with with Schwab and Chase and most credit card companies in terms of getting codes etc. Difficult to set-up while overseas, but worthwhile on a trip back.

Equatorial · May 6

2 hours ago, BuyBitcoin said:

Works with with Schwab and Chase and most credit card companies in terms of getting codes etc.

The part that worries me is "most." How do you deal with those that do not work?

Isaan sailor · May 6

I use a US mailbox, with a relative’s address for my US bank and brokerage. My iPhone has E-SIM capability and I maintain both a Thai and a US phone number. So far, so good.

Presnock · May 7

11 hours ago, TallGuyJohninBKK said:

@Presnock, when you talk about using SDFCU to transfer your funds to Thailand, what exact method are they (you) using -- an international wire transfer initiated from within SDFCU's online banking platform (if so, what's their fee for that)? Or some other route?

TIA!

The bank sends the money the same dayvia the online banking platform if the wire transfer is received by 8AM bank time (EST) and thus it arrives here the following date as the bank is behind us in time. It is the standard international fee of 35 USD for the amount I send and the WISE cost is really not that much difference on the amount I send each month so even though the bank adertises the WISE transfer as being cheaper, I continue to forward via the bank and in five years have not had any problems with them at all.

Thailand J · May 7

The elephant in the room is the IRS transfer certificate, Form 5173.

I believe IRS rule is that this certificate only applies to decedents who are non citizen and non resident.

But it appears that Schwab reqiures this form from the IRS in order to transfer your account to your heir after you've kick the bucket outside of US, even if you are a US citizen.

What about other brokerage firms such as Vanguard, Fidelity or Interactive Brokers?

May be I'll sell all my stocks, transfer my money into a Thai bank and make a Thai will.

Presnock · May 8

21 hours ago, Thailand J said:

The elephant in the room is the IRS transfer certificate, Form 5173.

I believe IRS rule is that this certificate only applies to decedents who are non citizen and non resident.

But it appears that Schwab reqiures this form from the IRS in order to transfer your account to your heir after you've kick the bucket outside of US, even if you are a US citizen.

What about other brokerage firms such as Vanguard, Fidelity or Interactive Brokers?

May be I'll sell all my stocks, transfer my money into a Thai bank and make a Thai will.

I just made my wife and daughter as co-account holders, w/wife getting a portion of my pension until she passes and which will still be posted from OPM to the bank.

Rumpelstilskin · May 11

On 5/7/2025 at 11:04 AM, Thailand J said:

The elephant in the room is the IRS transfer certificate, Form 5173.

I believe IRS rule is that this certificate only applies to decedents who are non citizen and non resident.

But it appears that Schwab reqiures this form from the IRS in order to transfer your account to your heir after you've kick the bucket outside of US, even if you are a US citizen.

What about other brokerage firms such as Vanguard, Fidelity or Interactive Brokers?

May be I'll sell all my stocks, transfer my money into a Thai bank and make a Thai will.

This is not true if the account is a joint one with Schwab there is no probate

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