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Should I use a U.S. address or report my new address abroad for banking and Social Security after moving out of the U.S.?
U.S. BankingSocial SecurityAddress ChangeExpat LifeVisa RequirementsInternational MovingFinancial Management AbroadMail ServicesHealthcare in ThailandRetirement Visa Thailand
Sep 20, 2024
2 years ago
Jamie *********
ORIGINAL POSTERI am moving out of the country by the end of January of 2025. Is it ok to use a U.S. address for my U.S. banking accounts and social security or best to report my new address in my new country? I am worried about future consequences.
TLDR : Answer Summary
The discussion focuses on the implications of maintaining a U.S. address for banking and Social Security after moving to Thailand. Many expats recommend keeping a U.S. address to avoid potential complications with banks and the Social Security Administration, which could require 'proof of life' forms sent annually if a foreign address is used. Options like using a family member's address, virtual mailbox services like Escapees, or a UPS store for mail forwarding are popular strategies to manage this. Concerns about bank closures for non-residents and legal obligations under the Patriot Act are also highlighted. Overall, the consensus leans towards retaining a U.S. address for convenience and to ensure uninterrupted banking and Social Security services.
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Chip *****
I use the Escapees mail service for a US address. Aimed at full time RV nomads but works well for everyone. They scan the envelope and you can decide if you want it forwarded, discarded, or opened and scanned.
Read more at
Read more at
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Ruth *******
Definitely keep the U.S. address. Only a few banks technically service American citizens living abroad.
They’re even starting to catch-up with the virtual mailboxes. For example, Wise will not accept those addresses. They only give two weeks notice to change it, so make sure you have a backup plan.
My family is in California. California & Massachusetts (more so the former) are notorious for considering people who receive mail or have bank accounts in their states as being residents, unless they have solid proof (utility bills and such) of residency elsewhere.
They’re even starting to catch-up with the virtual mailboxes. For example, Wise will not accept those addresses. They only give two weeks notice to change it, so make sure you have a backup plan.
My family is in California. California & Massachusetts (more so the former) are notorious for considering people who receive mail or have bank accounts in their states as being residents, unless they have solid proof (utility bills and such) of residency elsewhere.
Martin *********
I maintain a box at a UPS Store and that's where all my banking, social security information is sent to. Next year I will change that to a virtual office that will scan all of my mail and then I can decide which ones I want to have sent to me here in Thailand
Ben *********
Great info.
Mary ********
1 word Schwab.
I have been living overseas for 12 years (Asia, Europe). Do not put your money in an overseas bank. I've seen too many economies/banks collapse. And take your money with them. FDIC equivalent doesn't exist in most of the world.
The best advice is have your money deposited in the US with a bank that refunds ALL ATM charges. That uses the benchmark exchange rate, good customer service, no foreign transaction fees and charges reasonable fee for interbank transfers.
I use my ATM card for reasonable cash withdrawals. Anything over $5000 I do an interbank transfer.
Best part? Their customer service. Well trained reps, no "script" call centers throughout the USA. Nothing in India.
I have been living overseas for 12 years (Asia, Europe). Do not put your money in an overseas bank. I've seen too many economies/banks collapse. And take your money with them. FDIC equivalent doesn't exist in most of the world.
The best advice is have your money deposited in the US with a bank that refunds ALL ATM charges. That uses the benchmark exchange rate, good customer service, no foreign transaction fees and charges reasonable fee for interbank transfers.
I use my ATM card for reasonable cash withdrawals. Anything over $5000 I do an interbank transfer.
Best part? Their customer service. Well trained reps, no "script" call centers throughout the USA. Nothing in India.
**************
Jamie *********
ORIGINAL POSTER@Mary *******
Good advice! I do have Charles Schwab but I will need to deposit 800,000 thai baht into Bangkok Bank in Chiang Mai for a retirement visa.Mary ********
@Jamie ********
why? You can meet the requirements with a continuous monthly deposit of about $2500 a month. I feel a lot better about that than 25,000 US. Bangkok bank NY deposit does not qualify for a visa last time I checked.Jamie *********
ORIGINAL POSTER@Mary *******
I don't meet the requirements of $2500 a month. If I did I would have applied for a LTR not a 1 year retirement visa.Mary ********
@Jamie ********
do a combo. You can deposit 400,000 and the income drops. Not sure what the new amount is.Jamie *********
ORIGINAL POSTER@Mary *******
Unfortunately you have to deposit 800,000 baht into a Thai bank account 😑 unless you can meet the 65,000 baht per month income requirements.Reply to
Jamie *********
Reply
Marty *********
I live in Thailand . I use my sister’s in the US for my bank address. Also keep a standard US phone number for authentication. I use my Thai address for Social Security. I used my Thai address for my Fidelity retirement accounts so California taxes are not withheld when I make withdrawals. I recommend two credit cards, each from a separate bank.
Jamie *********
ORIGINAL POSTER@Marty ********
I've been getting comments that using a Thai address for social security you will need to certify you are still alive every year and some people don't receive the mail from Social Security in time and SS will cancel/postpone your deposits.Marty *********
@Jamie ********
I do get the letter and I have never had any problem getting the letter, either in Bangkok or in rural Sisaket province, and I have never had my benefits interrupted. I find mail delivery in Thailand to be pretty good except maybe around New Years. I return the letter using Express Mail service which is faster and is tracked.I’ve heard the stories too but that has not been my experience. You can test the mail service yourself while you are living here. It doesn’t do any good to have it sent to my sister’s house in Nevada.
Jamie *********
ORIGINAL POSTER@Marty ********
OK so I should change my US address to my Thailand address once I have a lease in Chiang Mai rather than use a friend's address in the United States?Marty *********
@Jamie ********
That’s up to you. You want to do this through the Manila Social Security office in the Philippines. That is the office that serves Social Security recipients in Asia. Once you are here then email them to make contact and ask for instructions.Jamie *********
ORIGINAL POSTER@Marty ********
Thanks for your quick responses! I have been getting many 'mixed responses' from other expats so I want to clarify from you what I think I should do after I move permanently to Thailand. Use the Manila SS website to change my US address to a foreign one. Keep a US address to maintain a US bank account, such as Charles Schwab. Have my SS payments go direct deposit into my Thai bank account, instead of a US bank account after moving to Thailand. I have heard too many mixed responses as I am sure you have read. I want to do the right thing to prevent any issues in the future. P.S. I plan on cancelling or discontinuing my Plan B once I have purchased health insurance in Thailand. Thanks in advance!!Marty *********
@Jamie ********
I have a US address and US bank. My SS benefits are deposited to my US bank. Social Security though has my Thai address. I signed up for SS using the Manila Social Security office. When I changed my address in Thailand I informed the Manila SS office.Jamie *********
ORIGINAL POSTER@Marty ********
Thanks again Marty. I will wait to move to Thailand before notifying Manila SS. However, I'm worried that my US bank, Charles Schwab Checking account will find out about my Thai address and cancel my account.Marty *********
@Jamie ********
I use my sister’s address in NevadaJamie *********
ORIGINAL POSTER@Marty ********
I am planning on calling Schwab Global international on Monday to ask them if I can keep my checking account if I am living overseas with a foreign address. Good idea or bad? P.S. I do have a US address I can use in Vegas, my current roommate, but I would prefer to be 'upfront' with SS, Medicare, and Charles Schwab moving out of the country.Marty *********
@Jamie ********
With my BofA account I use my sister’s US address and I don’t discuss it with BofA. Fidelity and my credit union don’t care about my Thai address.Marty *********
@Jamie ********
Also make sure you have a login.gov (US) or ID.me (non-Us) account and password to access your SS account online.Reply to
Marty *********
Reply
Mark *********
I've been on the road for the last 5 years and have always had a stable address for governments and banks. however, banks will not send credit cards nor governments passports to a pobox. most mail is opened scanned and sent to me via email/app at my request. The other documents / credit cards all need to go to a relative first and then be forwarded to me. In states such as South Dakota, a Mail forwarding address and one night in a hotel every 5 years allows you to vote, have a driver's license, and become a state resident with no state income taxes.
Anthony **********
@Mark ********
were you being sarcastic but is it really that easy to be a South Dakota resident ?Reply to
Anthony **********
Reply
Robert **********
Always keep a USA address. Never put a foreign address down on any accounts.
David ******
Just remember not to keep your U.S. Bank account(s) dormant. To keep it active, make a small deposit at least once a year. Some banks will deem an account inactive if no activity is made within a 1 or 2 year period and will attempt to contact the owner using a mailing address on file. If unable to contact the owner, it will be sent to the owners state treasury for safe keeping until it is claimed by the owner or heirs.
Ruth *******
@David *****
good point. I have both a checking & savings account in a credit union I barely touch. I simply do online transfers for this purpose.Reply to
Ruth *******
Reply
Kenneth *******
Why would you want to use a US Bank if you are leaving the USA? I use Bangkok Bank for all my banking needs. My Social Security is directly deposited to Bangkok Bank. You can save a lot of money by not keeping a US address. Medicare will not pay to Thailand and you can buy good insurance in Thailand. You do have to pay Medicare if you have a US address. You do not have to pay Medicare if you use Thailand as your address. Medical is much less costly here and better than in the USA.
Anthony *********
@Kenneth ******
sounds like I'll be doing the exact same thing. I know there's Bangkok Bank division in New York did you send your direct deposit through them or the one in Thailand? ThanksAnthony *********
Yeah thanks for getting back to me. I know the US uses a routing number for Bank direct deposit Thailand uses something different so I was wondering about that.
Kenneth *******
I went to BKK Bank on Selom RD BKK and the very nice lady who does know about US Social Security set it up she said it would be sent to BKK Bank New York. Then sent to Thailand. A few months ago she called me and told me I needed to contact SS. I forgot to send the yearly form.
Reply to
Kenneth *******
Reply
Marty *********
@Kenneth ******
You can decline Medicare Part B and avoid payments. Medicare Part A is free.Anthony *********
@Marty ********
Thanks for the info. I have Part B so I'll definitely look into that before I leave..Anthony *********
@Marty ********
I like to know that as well considering I'm retiring to Thailand. I know there's a penalty if you go back and try to use Medicare again. But like to use that $171 to insurance in ThailandMarty *********
@Anthony ********
I moved to Thailand when I was 60 years old and I am married to a Thai. By the time I was 65 I was sure that I was going to be staying in Thailand permanently. If you already have Part B I think you can still get out. So, like me, be sure you are leaving the US for good or investigate how to discontinue Part B later when you are sure.Reply to
Marty *********
Reply
Kenneth *******
OK Thanks
Reply to
Kenneth *******
Reply
Jeffrey *********
@Kenneth ******
Why? 1) All of my income, savings, and investments are in the US and are denominated in USD, and it would make zero sense to liquidate everything and move it to Thailand. 2) My pension can only be paid into a US bank account. 3) US banks have better consumer protections and interest rates than Thai banks, and will issue credit cards (that have real fraud protection).We can disagree about the quality and cost of Thai insurance, and agree that medical care here is much cheaper than in the US, but it isn't correct that you "have to pay Medicare" if you have a US address. Part A is free wherever you live, and Part B - which does cost money - is optional wherever you live. You simply decline it, and you pay nothing.
Yes, I have a Thai bank account for day-to-day spending, but that is by no means a solution to all of my banking and financial needs.
Kenneth *******
Makes sense to me.
Reply to
Kenneth *******
Reply
Jamie *********
ORIGINAL POSTER@Kenneth ******
good answer 👏Reply to
Jamie *********
Reply
Jo **********
just use your US address never use a foreign address you don’t want the IRS following you around
Bradley *********
@Jamie ********
also get a Charles Schwab bank account. They are very easy to work with and they refund any international ATM charges every month Thailand and charges me 220 baht if I use the atm. Just say I pull out money 3 times in a month and get charged ฿660 for ATM charges. On the first of the next month ฿660 gets refunded to me by Charles Schwab.Michael ***********
@Bradley ********
Thanks for that info. I've read about this before. Do you know if I need to have a Charles Schwab account for a minimum amount of time 1st, before getting the refund privilege ? Does a Charles Schwab account require a mininum in the account by chance? And if so, do you know the mininum amount? Thanks in advance, Cheers from Mike in OklahomaBradley *********
@Michael **********
I sent you a private message as wellMichael ***********
@Bradley ********
Yeah? I've received no pvt messagesBradley *********
@Michael **********
look in your other folder. Message requests/spam.Michael ***********
@Bradley ********
Just found it. Thank youReply to
Michael ***********
Reply
Bradley *********
@Michael **********
no minimum amount of time and no minimum balance. I move money in and out just for Thailand. In the end there’s always about five bucks left each month.Michael ***********
@Bradley ********
That's awesome. Thank you SirReply to
Michael ***********
Reply
Deb ********
@Bradley ********
why does your profile have nothing on it? Fake?Bradley *********
@Deb *******
what in the world. Why even ask. Yours is locked too…Deb ********
@Bradley ********
I forgot!Reply to
Deb ********
Reply
Jamie *********
ORIGINAL POSTER@Deb *******
It's locked 🔒 only friends can see his profile. Good idea 💡 👏Bradley *********
@Jamie ********
it certainly is. Especially with some of the jealous farangs in Thailand. My buddy had someone following him around Facebook insulting his Thai kids. All because he responded to something in a Facebook group that person disagreed with.Ruth *******
@Bradley ********
I’m amazed by the sad, lonely, jealous, angry folks on these groups. I’ve had many attacks about posts from YEARS ago, but I don’t care. If it ever becomes as bad as that, I’d lock mine too.Deb ********
@Bradley ********
Fair enough.Reply to
Deb ********
Reply
Mike **********
I’ve always kept a US address on my US bank accounts. (Many won’t accept a foreign address nor phone number). I use an eSIM with a US number to get access codes. I did file for SS while living here in Thailand and use my Thai address as residence but I keep my deposits going to a financial institution in the US. I received mailing from SS here and still have to fill out and return “proof of life” form every year. Reason I used foreign for SS is because since ‘98 been living abroad and filed taxes as foreign resident There is really no bank mail to worry about as everything is paperless anyway. Any mail that does come through to my son is just scanned to me and most of the time is just junk mail.
Jim ************
@Mike *********
Good point on eSIM or US number- banking extremely difficult withoutReply to
Jim ************
Reply
Bradley *********
@Jamie ********
Use this. It’s not a virtual mailbox. They accept mail for you and scan contents and email it to you. You have to sign up using an affidavit with them that’s authorized by the post office. I had already ran into an issue with Chase Bank for not having a US address*********************
Ruth *******
@Bradley ********
they are a virtual mailbox. Escapees is exactly what a virtual mailbox is…a physical address that receives mail and scans it (as well as other services).Bradley *********
@Ruth ******
no it’s not. it’s different because of the affidavit you sign with the US post office. It’s considered physical. But thank you.Bradley *********
@Ruth ******
whatever. Read the rest of the description - physical address is one of them. you can’t be taxed as a Texas residence or get a Texas drivers license using a virtual mailbox. I’m not interested in debating with someone who doesn’t use the service.Ruth *******
@Bradley ********
every virtual mailbox I know of does the same thingReply to
Ruth *******
Reply
Brian *********
Based on the Patriot Act you’re required to maintain a US physical address (not a po / virtual box) for things like bank accounts, brokerage accounts…etc. I use daughter’s house.
People in some cases have avoided or ignored this. Some have suffered having accesses cut off without warning, others have had no issues yet.
In the long run all it takes is one federal official to get aggressive about auditing and it will be chaos for some.
Fwiw. 👍
People in some cases have avoided or ignored this. Some have suffered having accesses cut off without warning, others have had no issues yet.
In the long run all it takes is one federal official to get aggressive about auditing and it will be chaos for some.
Fwiw. 👍
Ruth *******
@Brian ********
a few banks are able to have international customers due to their own international presence. They need to do extra paperwork which others aren’t setup or choose not to do. The Patriots Act does not technically prevent overseas clients. It just requires better tracking.Brian *********
@Ruth ******
yes, but I think you’re slightly missing their intent. To prevent people who are not legal US residents to possess American based bank accounts and related financial sources largely to prevent the funneling of funding of external terrorists on US soil. Remember, the Patriot Act was created because of ****
and previous terror attacks.So absolutely, it does not prevent people NOT in the US to hold US based accounts, it only requires a physical address, not a box or service.
Also keep in mind that banks may have the same name on the surface, but are not the same! Example, a Citibank in Thailand is NOT the same bank or accounts as in the US. So most so called international banks truly aren’t, they’re usually cooperatives at best. 😇
Ruth *******
@Brian ********
thank you for mansplaining the Patriots Act.Brian *********
@Ruth ******
wow, unnecessary and deliberately disrespectful. 😕Reply to
Brian *********
Reply
Andrew ********
If you have a US address, you should keep it. Many US banks don't accept non-US addresses. And a BIG thing with having a US address with the SSA if you're getting money from them, is that you won't have to send a certificate that you're still alive every year. If you use your Thai address, you have to do this. And if for some reason they don't get it, they cut you off until they do. It could be lost in the mail which happens fairly frequently and you won't know they don't have it until you don't get your money.
Marty *********
@Andrew *******
I’ve always used a Thai address with Social Security. Last year I moved from Bangkok to Sisaket province. When I got my proof of life letter in Sisaket it said that it was their 2nd attempt. I returned the letter using EMS and never had an interruption in my benefit deposits. I find mail delivery in Thailand to be reliable and reasonably fast for international mail except around New Year’s.Andrew ********
@Marty ********
I got the second notice too! About 2 weeks AFTER they cut me off. Never got the first one.Reply to
Andrew ********
Reply
Terry ********
@Andrew *******
I begged and pleaded with them to let me use my USA address because I know things get “lost” in the mail here. They insisted I had to use my actual Thailand address (which I have to notify them of every time I move). Sure enough, what you describe has happened a couple of times. Last year I never received the letter from them and they cut me off.Jamie *********
ORIGINAL POSTER@Terry *******
I am wondering why you didn't login to your online SS account 🤔Terry ********
@Jamie ********
you can’t do it from there. The certificate has to be mailed back.Reply to
Terry ********
Reply
Andrew ********
@Terry *******
I was told you have to change it back to a US address in person in the US. Sucks.Reply to
Andrew ********
Reply
Steve **********
2nd for virtual mailbox/ mail forwarding service.
Neil *********
I have US clients who still have addresses there and use them
The only challenge might be is that it seems the US is getting like the U.K. and closing down bank accounts for people who live abroad.
So just bear that in mind and set up accounts here.
The only challenge might be is that it seems the US is getting like the U.K. and closing down bank accounts for people who live abroad.
So just bear that in mind and set up accounts here.
Ester *************
@Neil ********
That’s what Bank of America told me, after 6 months they will closed the accountsKen ***********
@Ester ************
where does Bank of America learn that you live overseas if you maintain a U S. Address ? Also, is it illegal to be a U.S. citizen living overseas to have a U.S. bank account ?Ester *************
@Ken **********
They said if they see that I wired transfer $ or have transactions outside the country. Then she said something about giving up my US citizenship. I told her I have no intention of giving up my US citizenship & then she said I guess is ok then.Marty *********
@Ester ************
I have been wire transferring money to Thailand from my BofA account for 7 years. I still use a US address with them.Ken ***********
@Ester ************
I think she is not totally clear on the guidelines. I do have some financial institutions that limit services to U.S. living overseas (e.g. Fidelity). Also, I believe still you cannot file U.S. taxes online with a foreign address, but that may have changed.Reply to
Ken ***********
Reply
Bob ******
@Ester ************
I’ve had accounts in the USA and lived overseas for 20 plus years without an issue so not sure where you’re getting your information fromEster *************
@Bob *****
I got the info from Bank of America.Reply to
Ester *************
Reply
Cherie ********
I use a virtual mailbox in the US for bank accounts and SS
Robert *********
@Cherie *******
please describe the virtual mailbox. I just tried to change my address for SS and using a PO Box was rejected. I’m tempted to use the physical address of the PO but I’m hesitate at this point. My bank had no issues with the PO Box address.Cherie ********
@Robert ********
there are several companies…I use PostScan. My mail goes to the PostScan office location of my choice, so I show an actual street address…didn’t have any issues with SSReply to
Cherie ********
Reply
Andy ************
@Cherie *******
me too in SDReply to
Andy ************
Reply
Ken ***********
If you have a close family member whose address you can use, I suggest that option.
Chang ******
U still file the income tax report every year so keep the US address
Ken ***********
@Chang *****
I do still fill out the FBAR report every year.******************************************************************************
Ken ***********
@Chang *****
yes. I file online using U.S. address. I go back once a year for 1 month to visit family.Reply to
Ken ***********
Reply
Chang ******
@Ken **********
best answerGalen ******
@Ken **********
This is what I do to keep an account open. Because this requirement is relatively new for most of the banks, does anyone know if only a physical US address and phone number are required, or do we need to be physically present in the US for a set time period each year? I don't believe there is a physical presence requirement, but not certain.Ken ***********
@Galen *****
I have lived in Thailand for 18 years and used my Mom's address in Florida and never had an issue.Mary ********
@Ken **********
9 years Thailand, 5 Italy. If they were going to come after someone? With that travel history? Drugs, mafia? It would be me. No problems. Family in USA address.Reply to
Mary ********
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