# Opening US bank account



## JakeSaPI (Sep 9, 2014)

I'm retired here (PI) and no longer have a US address or phone number. I want to open a US bank account to put money into CDs. I've tried several banks both traditional and online and I cannot open an account. 

Most banks require a US address and phone number. One bank did not but would not open an account for someone living in PI. 

Anyone else run into or this or know a workaround? 

Thanks


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## M.C.A. (Feb 24, 2013)

Jake welcome to the forum and I have my sister for now sending me checks/Visa card I use her address but eventually I'll have to try something else like direct deposit to my Philippine Bank they have this available with certain banks, I know my PNB bank has whats called a pension account but it'll only be for the pensioner you won't be able to add your wife if married.

I think you'll be hearing from a few members that use some sort of virtual mail box in the US or Mail forwarder.


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## greenstreak1946 (May 28, 2017)

Hey Jake,

I think the safest and sure way to get bank transactions in the US living in the Philippines is from using someone's address that you know there. Someone you trust. Opt for an electronic statement and have a us email address. That way you can see the statement each month online. Also, check the notify feature for any transactions on your account and elect getting them from your local email there. 

NOTE: I had a problem living in the Philippines and accessing my account in the usa. They blocked my account the first time I did it. The fraud department thought it was a fraudulent activity coming from outside the country. I had to notify them I was living in the Philippines for a while, so they made note of that on my account and unblocked it. 

there are programs out there that will furnish you with a local IP address to fool the party you are contacting. You can live in the Philippines and have a USA IP address when connecting to a person in the USA. I used one for awhile before going back to the USA. I was using the Fifth/Third bank here. Maybe some banks are not as strict on rules as they are here.


Art


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## lefties43332 (Oct 21, 2012)

JakeSaPI said:


> I'm retired here (PI) and no longer have a US address or phone number. I want to open a US bank account to put money into CDs. I've tried several banks both traditional and online and I cannot open an account.
> 
> Most banks require a US address and phone number. One bank did not but would not open an account for someone living in PI.
> 
> ...


try wells fargo,i did it all online while in Philippines....cancelled them later


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## HondaGuy (Aug 6, 2012)

If you are retired military or a veteran, try USAA. Navy Federal CU might be able to work with you as well.


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## fmartin_gila (May 15, 2011)

USAA does offer all types of financial services. Check their website for what is available. I opened my account with them online, but I did live in Arizona at that time. They have no problem with dealing in other countries as they have clients all over the world and are used to dealing with Vets & Retirees. As long as you are a Vet you can avail yourself to their services.

Fred


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## Tukaram (Dec 18, 2014)

I have my account with USAA... but I also use a mail forwarding service and MagicJack for my US address & phone number. You might also try using a VPN to spoof your IP and make it look like you are in the US.


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## Manitoba (Jun 25, 2014)

A little different, I am Canadian and needed to open a US bank account because the US firm I was working with would only make direct deposit to a US bank. (That really gave the filipinos and a few other nationalities working for them a problem.) 

I was at the office in Kansas City where they are a major employer. Silly me thought that it would be simple, just walk across the street to a local bank and they would have no problem opening an account for an employee of one of the areas major employers. (This was in 2010.)

Was I wrong, I actual thought a couple places were about to call Homeland Security on me because I was Canadian, going to work in Afghanistan and wanted a US bank account.

Finally gave up and when I went to Grand Forks ND, Wells Fargo had no problem opening an account for me with a Canadian address.

You might have to actually go there in person to open an account, you may also need to have an ID with an US address on it. (Get your friend to write you a "lease" and use that as proof of address.)

Good luck, tax and criminal activity has made opening a US bank an issue for a lot of people in unusual situations.


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## greenstreak1946 (May 28, 2017)

hey Tukaram,

That is what I used when in the Philippines was a VPN program to access my bank account in the USA with a fake IP address. I had no problems until one day I forgot to log into the VPN first. I tried logging into my account and got blocked out because it showed someone logging into the account from the Philippines. What a mess. I had to call the fraud department the next day and get it straightened out.

NOTE: Always log into the VPN program first before loading up your bank app to log into it.

art


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## Tukaram (Dec 18, 2014)

greenstreak1946 said:


> hey Tukaram,
> 
> That is what I used when in the Philippines was a VPN program to access my bank account in the USA with a fake IP address. I had no problems until one day I forgot to log into the VPN first. I tried logging into my account and got blocked out because it showed someone logging into the account from the Philippines. What a mess. I had to call the fraud department the next day and get it straightened out.
> 
> ...


I do not use the VPN as much as I used to. Now I told them I am a travel vlogger. When I first moved over here I do not think they would have accepted that, but now they understand. I find it interesting that I have never been to a branch of my bank. I opened the account online, and have never lived within 300 miles of a branch.


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## Molelaner (Aug 28, 2021)

What do I need to manage my bank account?


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## BusyBC57 (Apr 13, 2015)

JakeSaPI said:


> I'm retired here (PI) and no longer have a US address or phone number. I want to open a US bank account to put money into CDs. I've tried several banks both traditional and online and I cannot open an account.
> 
> Most banks require a US address and phone number. One bank did not but would not open an account for someone living in PI.
> 
> ...


Look up American Citizens Abroad, known as ACA, you can join them for I think $70, after that you can join the State Department Federal Credit Union in the USA and they don't mind if you have a Philippine address. They will send you an ATM visa card also. I did this and it really solved a lot of problems as I was able to receive direct deposits from the IRS finally. Those IRS mailed checks never make it to us.


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## Shadowman (Apr 20, 2020)

JakeSaPI said:


> I want to open a US bank account to put money into CDs.


Why CDs? You could get a "high interest" checking or savings account for the same rate. 

Try AMEX or DISCOVER, they have some of the best rates currently. 

If you need a US address you can easily get one from a service like physicaladdress.com


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## art1946 (Nov 30, 2017)

hey Shadowman

, I have savings and checking with an American bank. I get .02% interest. What a joke. I was told the only way by my bank rep. to get high interest is to put money into investment accounts. Even a high yield checking or savings account is only .2%. Citi bank is one of the highest right now and it is only .2% You have to gamble on investment accounts to make money right now.

art


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## Shadowman (Apr 20, 2020)

art1946 said:


> , I have savings and checking with an American bank. I get .02% interest. What a joke. I was told the only way by my bank rep. to get high interest is to put money into investment accounts. Even a high yield checking or savings account is only .2%. Citi bank is one of the highest right now and it is only .2% You have to gamble on investment accounts to make money right now.


All true, and CDs are no better. I'm locked in at 2% and when it matures I doubt I'll find a new one worth getting.


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## Lunkan (Aug 28, 2020)

art1946 said:


> Citi bank is one of the highest right now and it is only .2% You have to gamble on investment accounts to make money right now.


I found almost all in US and West European stock markets much overvalued, so I dont even bother to check if there are any exceptions there anymore, because I want to buy things for less than they are worth  
(So I buy very undervalued businesses in Phils.)


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## Gary D (Oct 28, 2013)

Lunkan said:


> I found almost all in US and West European stock markets much overvalued, so I dont even bother to check if there are any exceptions there anymore, because I want to buy things for less than they are worth
> (So I buy very undervalued businesses in Phils.)


I'm not sure I'd class paying 100% for something you can only own 40% good value for money.


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## Molelaner (Aug 28, 2021)

Molelaner said:


> What do I need to manage my bank account?


I had a similar situation, I needed to invest money in one project, but American banks also did not accept cash. They asked unnecessary questions, and in general, it bothered me. However, my partner advised me to put my money into the account in some German bank. I decided to do this, and on acquaintance, I left a large amount of money in a German bank, which is considered the most reliable in the country. ** snip **


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## Lunkan (Aug 28, 2020)

Gary D said:


> I'm not sure I'd class paying 100% for something you can only own 40% good value for money.


 Well. You are correct concerning land and businesses owning land,
but foreigners CAN e g own 100% of whats ON lands 
and foreigners can own biger part than 40% of REVENUE/RESULT in a Joint Venture has BIR anwered someone who asked that.


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## art1946 (Nov 30, 2017)

hey shadowman,

with the interest rate so low charged to customers on loans and etc. it makes interest on savings and interest bearing checking accounts worthless right now. Back in 1984 the interest on a 3 month CD was 18%. Those days are long gone. Like I stated in another message the only way to make high yield interest is to put money into an investment account. That is a big gamble but people with a lot of money do it and come out ahead. I am going to talk to my banker and see what $50,000 would get me if I invested it for a year.

Even Citi bank is only .50%. That is only $250 on $50,000.

art


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## Lunkan (Aug 28, 2020)

art1946 said:


> I am going to talk to my banker and see what $50,000 would get me if I invested it for a year.


 When talkin with banker or other broker related business, 
remember to think of they earn by many TRANSFERS UNDEPENDING of the investment was bad or good...


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## art1946 (Nov 30, 2017)

hey Lunkan

thanks for the info

art


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