Folks! My social security is paid monthly into my Bank of America. I have to wire a substantial amount (over $100k) from this BofA account in the States to my personal account over here. I’ve heard horror stories about US bank “freezing” / “closing” accounts when they find out you live abroad. Super appreciate folks’ experience and advice with this - thanks!

On 1/25/2026 at 2:02 PM, MJoe said:

I’ve heard horror stories

Can you share some of these "horror stories"?

They come from reliable, first-hand sources?

What does your SocSec have to do with anything? You can have your SocSec payment deposited directly into your Thai Bank account.

I transferred money from BofA via WISE (and Plaid) to my Bangkok Bank account, without issue.

I've lived here for 25 years, and BofA 'knows' I live here. No problems. Also have a BofA Visa card (Travel Rewards, zero foreign transaction fees), and use it often here

What address do you use for BofA?

Is this a one-time transfer?

Some banks have a policy of closing expatriates' accounts and some are fine with their accountholders living abroad. I think BoA is one of the latter, but not completely sure. Wells Fargo closed many if I recall correctly.

I opened a new account at Chase in the US a few years ago using my Thai address as I have no US address to provide. Chase sent me checks by FedEx with my name and Thai address printed on them along with a debit card to me here in Bangkok.

Then there's always the State Department Federal Credit Union that specifically caters to expatriates.

My US credit union happily deals with my Thai address. And I just changed my Fidelity ac. from my brother's US address to my Thai one. Again no issues. I called in to make the change and the guy helping me said that if the system tried to restrict me from any transactions, to call and they'll take care of it.

Has anyone changed their Schwab banking address from an American to a Thai address? Any issues?

I had a Bank of American account for 50 years and when I sold my house in the US and retired in Thailand, BOA closed my account. Fortunately there are some banks in the US that continue to open accounts for expats - I learned about the State Department Federal Credit union (SDFCU.org). It is not just for State Department or govt employees and has been around for over 90 years. They request you join one of a list of organizations in order to open an account. I joined American Citizens Abroad (ACA). Once you join, you do not have to remain as a member of that organization to deep the account, The SDFCU offers credit cards and other services too. I have my pension deposited into that account and then transfer funds each month to my Thai bank. They also advertise that they transfer via WISE if one wishes. I have been a customer of the SDFCU for over 5 years and have never had any problems whatsoever. The also have an active fraud watcher and will advise if anything is strange immediately.

Schwab will open an International account for US expats that live in Thailand. They require a minimum 25K balance but it can be spread across several accounts. I have been their customer since '87 and have no complaints... but my account is still based in US using a friends address. A neighbor of mine has a Schwab International account and is pleased with it.

They provide many perks such as monthly free domestic wires, mostly free international wires. I don't do many international wires and they usually wave the fees but sometimes I do have to ask. They offer a great debit card that refunds ATM fees.

22 hours ago, gamb00ler said:

They require a minimum 25K balance but it can be spread across several accounts

This requirement has been waived a while ago.

14 hours ago, Thailand J said:

This requirement has been waived a while ago.

Thanks... I'll stop handing out the outdated requirements.

https://international.schwab.com/open-account-intro/open-account?country=TH&branchCode=EO