# BofA / Are you a dual national ?



## lat19n (Aug 19, 2017)

We opened our accounts at BofA in 1989. Until very recently we had the 'highest' level banking relationship with them - but I got tired of earning peanuts. So first I attempted to open a Merrill Edge account (BofA owns them) but they wouldn't let me do that because we reside in Mexico (and that is the only address BofA has for us). I went into my account settings and changed my 'primary address' to a friend's address in the US (leaving all the addresses associated with our existing accounts pointing to Mexico). Then I decided it isn't worth it, put the primary address back to Mexico and moved half our BofA balance to Schwab.

Today - I logged into our BofA account and they threw up a message box asking if I was a dual-national. I'm not sure what to make of that...


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## TundraGreen (Jul 15, 2010)

lat19n said:


> We opened our accounts at BofA in 1989. Until very recently we had the 'highest' level banking relationship with them - but I got tired of earning peanuts. So first I attempted to open a Merrill Edge account (BofA owns them) but they wouldn't let me do that because we reside in Mexico (and that is the only address BofA has for us). I went into my account settings and changed my 'primary address' to a friend's address in the US (leaving all the addresses associated with our existing accounts pointing to Mexico). Then I decided it isn't worth it, put the primary address back to Mexico and moved half our BofA balance to Schwab.
> 
> Today - I logged into our BofA account and they threw up a message box asking if I was a dual-national. I'm not sure what to make of that...


One of the reasons I keep a US address with my US bank is that having a Mexican address limits what you can do online. I changed it to Mexico once. Then I decided it was a bad idea. They wouldn't let me change it online. I had to go into branch in the US to get it changed.

I am not sure why a bank needs to know if you are a "dual national". However, your post prompted me to look at the official US position on dual nationality. No surprises, but it is interesting to see it in print.

https://travel.state.gov/content/tr...nality-Dual-Nationality/Dual-Nationality.html


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## lat19n (Aug 19, 2017)

I did just log back into our BofA account and was NOT prompted about my citizenship ? But at this point ALL our addresses point to Mexico.

I have a funny feeling that the prompt I saw earlier had more to do with that I moved [Deleted] OUT of BofA into Schwab. Maybe that raises some flags ? It is interesting that my move was US<->US. There must be some screwed up algorithm.

Now that all my accounts at BofA have our Mexican address the ONLY thing I can invest in is cash. I believe I can not even buy a CD. But we do get free bill-pay, and a decent free US dollar based CC.

The only address Schwab has for us is Mexican. We have an International account. I believe I can not buy US stocks (I have no interest anyway). I can buy US corporate bonds and government securities. But Schwab has no CC available and no bill-pay. But I should be able to pay most US bills against my Schwab debit card.


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## ElPocho (Aug 25, 2017)

Mexican banks want your US SSN to report income to the IRS. 
The idiots at the bank wanted me to fill out a US form here in Mexico. I call them idiots because my official Mexican name has both family names. When filling out the 1040 (I think that what it was) it said to use your name as you filed taxes. The morons would not take the form because it did not match my Mexican papers, though it did match my Cal Driver License. 

I assume that the US Banks want Mexican Tax ID's to reciprocate and report income to Mexican Treasury.

Of course the bank froze my money and I had to visit the bank about 7 times just to get my money back. 

grrrrr


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## perropedorro (Mar 19, 2016)

TundraGreen said:


> One of the reasons I keep a US address with my US bank is that having a Mexican address limits what you can do online. I changed it to Mexico once. Then I decided it was a bad idea. They wouldn't let me change it online. I had to go into branch in the US to get it changed.
> I am not sure why a bank needs to know if you are a "dual national". However, your post prompted me to look at the official US position on dual nationality. No surprises, but it is interesting to see it in print.
> https://travel.state.gov/content/tr...nality-Dual-Nationality/Dual-Nationality.html


Same here, with my wife being a "dual" citizen for 20 years and myself in the process. Except that we _never_ put our Mexican address on U.S. bank account, preferring to use our son's address in California. We did however use a Mexican cell number as a contact and that probably generated the snooping inquiry by BofA. Good info from your link which points out that the requirements of self-identifying dual citizens may be in conflict. I've always heard that when in Mexico, one with Mexican citizenship is *not* a dual citizen but must identify him/herself to authorities as Mexican---punto.


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## RVGRINGO (May 16, 2007)

Your connections to the USA make the reporting to the USA mandatory. Those “when in“ rules for dual citizens do not apply to tax liabilities. You may have to file returns in both countries, but will not be double-taxed. Your reporting details will take care of that concern.


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## perropedorro (Mar 19, 2016)

RVGRINGO said:


> Your connections to the USA make the reporting to the USA mandatory. Those “when in“ rules for dual citizens do not apply to tax liabilities. You may have to file returns in both countries, but will not be double-taxed. Your reporting details will take care of that concern.


Yes, there's always tax liability for those who one billionaire heiress contemptuously referred to as the _little people_, but a few years back it became fashionable for über-rich "Americans" to abandon U.S. citizenship to dodge taxes.


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## citlali (Mar 4, 2013)

I do not get all the problems.. When in Mexico I say I am Mexican and do not say anything else or it could be complicated, I am also French but bank in the US as I worked there 30 years and hace a SS .I also collect ss from the US and pay taxes to the US.. do not pay taxes in Mexico or in France.. Try explaining that to anyone..


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