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BANGKOK 16 January 2019 08:47
NCC1701A

My USA Drivers License Has Expired No Bank Account

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8 minutes ago, TallGuyJohninBKK said:

 

I've always advised folks here to keep their Thailand stuff as separate as possible from their U.S. financial activities. Yours is a good example of what can happen all too easily...

 

 

I think you're right on the mark there. As all of the anti money laundering stuff really bites, you just increasingly can't avoid this, so total separation is the only answer.

 

I was fortunate in some ways that did always have a physical address, but nowadays just don't try to use a mailing address, figure out using a family member or friend ahead of time

Edited by GinBoy2

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1 minute ago, GinBoy2 said:

I was fortunate in some ways that did always have a physical address, but nowadays just don't try to use a mailing address, figure out using a family member or friend ahead of time

 

I don't know if Jim and I are using the same or different places.

 

But mine has worked fine for pretty much everything over a long period of years, with the rare exception of that one Cap One episode.

 

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11 hours ago, TallGuyJohninBKK said:

 

I don't know if Jim and I are using the same or different places.

 

But mine has worked fine for pretty much everything over a long period of years, with the rare exception of that one Cap One episode.

 

I think it comes down to an account that's grandfathered in will always be fine, it's when you now try to open something new.

 

Like I'd said previously, I was fine with BoA until I tried to open something new.

 

Now I think the software must be fairly sophisticated, and I'm not the only one to have experienced this, but you can substitute PMB, with Apt, Unit, #, and it still recognizes a mail forwarding address rather than a physical. 

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With US passport and Thai address, you can apply for:

1.  Schwab One International Brokerage account, $25,000 min. , no monthly fee.

2. TD Ameritrade no minimum to open, no monthly fee.

3.  Interactive brokers, no minimum to open, up to $10 monthly fee for account balance <$100,000.

4. State Department Credit Union bank account.

 

If you are in US:

Fidelity offers no fee SWiFT transfers.

Vanguard pays 2.3% on your idle cash and offers $10 SWIFT, free if the account balance is over $1M.

 

Every brokerage account above comes with a bank account except Vanguard. You can upgrade to VanguardAdvantage ( brokerage + PNC Bank account) with $500,000 min., but you can set up SSA direct deposit with regular Vanguard brokerage account.

 

 

Edited by Thailand J
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5 hours ago, Thailand J said:

 

With US passport and Thai address, you can apply for:

1.  Schwab One International Brokerage account, $25,000 min. , no monthly fee.

2. TD Ameritrade no minimum to open, no monthly fee.

3.  Interactive brokers, no minimum to open, up to $10 monthly fee for account balance <$100,000.

4. State Department Credit Union bank account.

 

If you are in US:

Fidelity offers no fee SWiFT transfers.

Vanguard pays 2.3% on your idle cash and offers $10 SWIFT, free if the account balance is over $1M.

 

Every brokerage account above comes with a bank account except Vanguard. You can upgrade to VanguardAdvantage ( brokerage + PNC Bank account) with $500,000 min., but you can set up SSA direct deposit with regular Vanguard brokerage account.

 

Did we ever sort out where each of those institutions are on their fees for international wire transfers, a bigger issue now in light of the recent Immigration/no income letter changes.

 

--Schwab U.S. (not international) is officially $25 for sending an international wire.

--The no fee Fidelity international wires come with some setup complications (Medallion signature requirement)

--Vanguard has the $10 international wires

--Interactive Brokers website says they charge $10 to send an international wire, but also says they allow one free withdrawal per month.

 

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On 1/10/2019 at 5:25 PM, NCC1701A said:

Bank of America shut down my account because I gave US Global mail as a primary address. It worked to open the account in 2014 but they must have reviewed the account for some reason. Maybe because of many transfers to Thailand.  

Did you have a direct deposit for over $1000 with them? If not, that could be a reason.

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9 hours ago, joealx said:

Did you have a direct deposit for over $1000 with them? If not, that could be a reason.

well i am only speculating because when asked why they shut me down they said there was no legal reason to tell me why and they didn't.  

 

they also shut down my Visa card of 20 years! and i have really good credit. 

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1 hour ago, NCC1701A said:

well i am only speculating because when asked why they shut me down they said there was no legal reason to tell me why and they didn't.  

 

they also shut down my Visa card of 20 years! and i have really good credit. 

I've had direct deposit with them for 24 years and changed addresses twice (both mail forwarders and since the Patriot Act) and everything seems OK.

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On 1/13/2019 at 10:21 PM, TallGuyJohninBKK said:

Did we ever sort out where each of those institutions are on their fees for international wire transfers, a bigger issue now in light of the recent Immigration/no income letter changes.

 Same old.

Schwab $25 SWIFT officially. Fidelity and Vanguard free or low cost SWIFT,US address to open a new account. If you cant get medallion signature guarantee to add a bank, Vanguard will take embassy certified affidavit and passport copy. I asked Fidelity the answer is no but will consider on case by case basis.

 

Brokerage accounts will not work with Transferwise. The brokerage account number is different from the checking account number that it comes with. For ACH use with Transferwise, try use the bank ABA number and the checking account number, should work but I have not tried. . TD Ameritrade will give you a checking account after you've sign up for cash management.

 

Probably I will go with TD Ameritrade or State Dept Credit Union if I didn't have Fidelity, Vanguard and Schwab, and use SWiFT for large amount Transferwise for small amount.

 

Edited by Thailand J

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oops.. TD Ameritrade U.S. website has stopped accepting Thai addresses. TD Ameritrade Singapore is accepting Singaporean and Malaysian addressees, and will accept Thai addresses "in the near future".

 

Now Schawb also has a branch in Singapore. Schwab Singapore is accepting  Thai addresses, still $25,000 min to open a new account.

Edited by Thailand J
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A friend of mine (retired American living in Thailand, but with mail-forwarding in the US by a friend who works in a small-town FedEx office) called Chase to change the type of VISA card account he had.  When the Chase rep on the phone was verifying his personal data, she declared that his "home" address "looks like a FedEx office" as if she entered the address in Google Earth.  Yikes!

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A friend of mine (retired American living in Thailand, but with mail-forwarding in the US by a friend who works in a small-town FedEx office) called Chase to change the type of VISA card account he had.  When the Chase rep on the phone was verifying his personal data, she declared that his "home" address "looks like a FedEx office" as if she entered the address in Google Earth.  Yikes!
Yeah it's not rocket science these days to snuff out suspected expats.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

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