# US expats must close Brokerage Accounts in Wells Fargo?



## maximice (Feb 23, 2013)

Has anyone encountered this? 

Wells Fargo has written to me giving me 30 days to close my account with them (which I have held for 10 years), because they are not allowed to offer financial services in the UAE.

They will freeze my account if I do not move the funds by March 15th.

I am shocked and not sure where I can move this account to (that's where I hold my brokerage, my 401-k, my pension, etc.)

If anyone has been through this, please help. Thanks.


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## twostep (Apr 3, 2008)

There are still a number of international banks in Dubai which offer services such as the ones you are looking for. Google, talk to colleagues, talk to whoever handles expats in HR.


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## frankybaby43 (Jul 9, 2013)

*reply*



maximice said:


> Has anyone encountered this?
> 
> Wells Fargo has written to me giving me 30 days to close my account with them (which I have held for 10 years), because they are not allowed to offer financial services in the UAE.
> 
> ...


I am too am being evicted by new owners of Smith Barney, Morgan Stanley after 13 years of doing business with them. Trying to transfer to Charles Schwab which does business with US expats. How I wish the ACLU or someone would start a class action suit against these Wall street gangsters


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