US expats with US bank/brokerage accounts
Posted by Apple_egg_potato@reddit | expats | View on Reddit | 19 comments
Hi, are you getting your bank/brokerage accounts terminated because you consistently access them from overseas? Wondering if getting a VPN to access US bank accounts is a good idea. Thank you!
travelingsket@reddit
Yes Charles Schwab cancelled my account it wouldn't tell me why. The thing is even if you use a VPN if you are going to the ATM in that country they obviously can see what you're still doing.
thedarkestgoose@reddit
I use a VPN and use E*Trade. Never have a problem.
AllPintsNorth@reddit
5 years with Vanguard, US Bank, USAA, IBKR, and Chase.
No issues, yet.
mydamnusername1234@reddit
stepstoner@reddit
Frankly, accessing US accounts from overseas is much simpler than the other way around, e.g. for me, from Germany. Some require a true local German phone number for 2FA. And if I need a new PIN, they only send it via a postal service (yes - printed on paper)…..
Both-Basis-3723@reddit
The Netherlands too. Whyyyyy?!?
i-love-freesias@reddit
Yes. Wise, after 10 months abroad, took away my debit card and stopped paying interest on my account and wanted my current residence abroad. I can still move money, though, with it.
Wells Fargo froze my account.
VPN didn’t work for me.
They are now required by the US government to discover if you are residing abroad.
Just get an international Schwab account and then you don’t have to worry.
Hausmannlife_Schweiz@reddit
They won’t terminate them. They will move them into accounts where you cannot add funds. Dealing with this right now with Morgan Stanley.
brooklynaut@reddit
I did have an issue with Ameriprise, but not anything else. I thunk it was because I accidentally told them that I was living overseas or something. I have a friend who acts as a "proxy" in the US, but we juts had to register him as an inactive person on the account (he can't do anything, not even see my accounts) and I do things as I did before.
That said, it was annoying to have to arrange that.
Ok-Excuse-4371@reddit
Are you a US citizen?
Which brokerage/bank(s) terminated your account?
Mr_Lumbergh@reddit
They can't simply take your money away. I don't have problems.
Moonrak3r@reddit
I have 3 different bank accounts and no issues with any of them.
Chase in particular I have bank accounts and credit cards with, and I’ve updated my address on their website to my UK address. That’s been a bit of a mixed experience but mostly good: when my credit cards expire they mail me new ones in the UK, and usually when I order stuff online I can use my UK address as my billing address. However, some of the more sophisticated websites recognize that it’s a US credit card and won’t accept non-US addresses, but I’ll just use a local card when that happens.
DifferentWindow1436@reddit
Banks don't care. Brokerages do.
I openly have discussed it with my banks and added a mailing address in Japan. I get mail, I get check replacements. The only problem I have is more technical. Like TD kept putting my on dormant. I've had a lot of verification issues to get into BoFa. Citi rocks.
Brokerage is more don't ask, don't tell.
alu_@reddit
I just did a money wire with my US bank for a significant amount. Their fraud department called to verify, during that process they asked why I'm accessing from multiple locations including EU. I told them I use a VPN (which I do).
apc961@reddit
Nope. Channel your inner Bill Clinton and "Don't ask, don't tell"
RexManning1@reddit
No.
akhalilx@reddit
Unless you have some really obscure local credit union, you don't need to worry about using a VPN to access your US bank accounts. Financial institutions de facto work on a "don't ask, don't tell" policy when it comes to expatriates. Pretty much they won't ask you about moving overseas as long as you don't tell them you've moved overseas.
1dad1kid@reddit
I never had issues with my Schwab account.
Alinoshka@reddit
My Google account of all things was forcibly moved from a US to Eu account. I haven’t heard of anyone’s brokerage account being removed unless you change your address and tell them you live overseas. I think a lot of times it’s a “we’ll look the other way if you don’t do anything dumb,” or at least it is with my accounts.
But honestly get NordVPN no matter what. You have no idea what random websites are Geoblocked and sometimes you just want to watch a show on Netflix that isn’t available in your current country!