# Pension from US source.



## fruitcop2 (Sep 1, 2016)

With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank, or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me. Stay safe guys.


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## Nate5182 (Sep 8, 2020)

fruitcop2 said:


> With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank, or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me. Stay safe guys.


You can try looking into Wise (previously TransferWise). Having an account allows you to have local bank details in multiple countries, including the US. I don’t remember if there are residency restrictions for opening an account. You can then transfer money to most places or you can get a debit card as well with no foreign transaction fees.


Sent from my iPhone using Tapatalk


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## Nickleback99 (Aug 6, 2011)

Interesting info as we are WF and still in US for main accounts, prior to upcoming move back to PI and did not know about this closure thing. WF has a reciprocal agreement, or did, with BPI as I used to transfer $ to wife's peso BPI account from the WF account. No charge, but sure they made money on the rates, etc. Best thing, I think, would be to get a mail forwarding service here and use that address, while also making sure you have a US phone number via magic jack, etc for your phone authentication 2 step by many US banks. Also, if a vet, you might qualify for USAA or NFCU accounts, and pretty sure they don't care where you live. Two more ideas to check would be Citibank which has at least some branches in PI and Charles Schwabb that many have talked about in past as they refund ATM fees you might incur in PI. Good luck and please keep rest of us posted.


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

Nickleback99 said:


> Interesting info as we are WF and still in US for main accounts, prior to upcoming move back to PI and did not know about this closure thing. WF has a reciprocal agreement, or did, with BPI as I used to transfer $ to wife's peso BPI account from the WF account. No charge, but sure they made money on the rates, etc. Best thing, I think, would be to get a mail forwarding service here and use that address, while also making sure you have a US phone number via magic jack, etc for your phone authentication 2 step by many US banks. Also, if a vet, you might qualify for USAA or NFCU accounts, and pretty sure they don't care where you live. Two more ideas to check would be Citibank which has at least some branches in PI and Charles Schwabb that many have talked about in past as they refund ATM fees you might incur in PI. Good luck and please keep rest of us posted.


Some of the major Philippine Banks have a US dollar pension account and you can have the money sent electronically from DFAS (military pay) Social Security, the pensioner only has access to this account. 

There may be times were you won't be able to use the ATM card because of location, ATM machine won't accept international cards, machine out of money, typhoon destroys the internet grid or the card gets destroyed.


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## bigpearl (Jan 24, 2016)

This is interesting reading and gets the noodles thinking. As I'm not a US national, my thoughts are now on pensions and banking laws as well as perhaps unfortunately an earlier SRRV application as an Aussie national given being potentially stuck here in PH. I don't have an issue with being stuck here, this is home now but....... leaving and returning? How long will all the C-19 issues go on?

New thread and would love to hear your 2 bobs worth.

Cheers, Steve.


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## fmartin_gila (May 15, 2011)

Wells Fargo is also where I maintain one of my accounts(USAA is the other). Have had accounts with both for many years and have SS and pension funds directly deposited into both. A couple of months prior to moving permanently to the ROP over 6 years ago, I opened an account with a mail forwarder in Houston Tx and made change of address to both as if I was moving there. AS far as they know, I do live there at the # space or apt # at that address in Houston. All transactions are handled online at their websites. I do make sure to update the travel plan at each so they will not lock the accounts when the cards are used in a foreign country. When cards are renewed, they are sent to that address and then they send to me so I can activate them online. Has worked OK with only a couple glitches over the years.

Fred


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## fmartin_gila (May 15, 2011)

Forgot to mention that I also keep about 5,000 in a dollar account with BPI as another source of emergency funds if something should go wrong & I can't access the other funds in stateside institutions. Those accounts along with the hefty sum of pesos in cash I keep in hand I feel I have most all things financial covered.

I goes against my better judgement to have all the different accounts but on the other, side they do give me possible access to funds in case of a glitch somewhere. 

Fred


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## Nickleback99 (Aug 6, 2011)

I do make sure to update the travel plan at each so they will not lock the accounts when the cards are used in a foreign country. When cards are renewed, they are sent to that address and then they send to me so I can activate them online. Has worked OK with only a couple glitches over the years.

Fred
[/QUOTE]

Fred, great info. Also how does the forwarding service send cards to you securely?...and what is cost to you for that secure forwarding? Just planning ahead for us as we begin tying up lose ends here now in a hopeful 6 month countdown to the move launch.


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## fmartin_gila (May 15, 2011)

I have them sent by FedEx. Guaranteed delivery to my door, usually within 5 days. I have heard of things "disappearing" when sent by normal mail as the PhilPost system is not to be trusted. Cost is usually just under $50 dollars. They just charge it to the card I have on file there. This card they have on file is where they bill the annual fee and any other charges I incur with them. Then I have the card payment deducted from my checking account when it comes due. You need to be ahead of this as they do require a notorized form(don't remember the name or number) so they can receive mail for both of you(a form for each of you as I remember) from the US Postal Service.

The one I use(and some others on here) is 'US Global Mail' in Houston Tx. I think it is legal to mention their name as it has been mentioned in other posts already.

The main reason I chose that particular one is that Tx is one of the few states with no individual income tax and it does appear that I live at a trailer space or apt at that street address. They notify you every time they receive mail so you can go to their website and see what it is and tell them what to do with it(send it, trash it, scan it, etc). Couple of times, I have purchased things from companies in the states and have it shipped there rather than have other less knowledgeable people try to send internationally. They will repack and consolidate if needed and send. I really do enjoy doing business with them.

Fred


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## bigpearl (Jan 24, 2016)

I'm taking the risk of sending my Aussie drivers licence and new debit card and master cards in a Balakbayan box, let you know in a few months if they make it.

For those on a pension based SRRV, does your pension have to come to a Philippines bank account or are the PRA only interested in the paperwork that you do receive a pension and don't care what country it's banked in? 

Cheers, Steve.


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## Tukaram (Dec 18, 2014)

Nickleback99 said:


> Fred, great info. Also how does the forwarding service send cards to you securely?...and what is cost to you for that secure forwarding? Just planning ahead for us as we begin tying up lose ends here now in a hopeful 6 month countdown to the move launch.


I use a mail forwarder and they send send either FedEx or regular mail. My latest credit card was sent late (by the bank) so I had it shipped FedEx. That is the first time I used it (quite expensive). For the last 8 years I have used regular mail for driver's license, ATM, credit cards etc with absolutely no problem. I have never had one lost or stolen. 

As for banking, I use USAA for all my banking. I gave up on the franchise banks here in the PIs. Every branch manager makes up their own rules... I use the ATM to get my monthly allowance. My bank refunds the ATM fees ($15 per account, per month), and I get top exchange rates. (BPI gives p20,000 per transaction on foreign cards)


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## fmartin_gila (May 15, 2011)

Tim, As I remember sometime in the past you have mentioned you use the same mail forwarder as I do.

I also use exclusively BPI ATMs for that same reason, all the others limit to P10,000 per transaction and still charge the same P250 transaction fee for a foreign card. 

Fred


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## bidrod (Mar 31, 2015)

fmartin_gila said:


> Tim, As I remember sometime in the past you have mentioned you use the same mail forwarder as I do.
> 
> I also use exclusively BPI ATMs for that same reason, all the others limit to P10,000 per transaction and still charge the same P250 transaction fee for a foreign card.
> 
> Fred


 Living in the NCR+ I use the HSBC ATMs you can withdraw P40,000 per transaction. They don't charge the P250 per transaction if I remember correctly.

Chuck


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## grahamw57 (May 27, 2018)

I have my UK pension paid into an online bank account, then I transfer (free of charge) from that, via 'Azimo' remittance company, for cash pickup (MLHuillier) here in the Philippines. Total cost for up to around $1,000 is around $5.

I did try to have my pension paid directly into a (wife's) BDO account, but BDO screwed it up. Idiots returned the money to the sender. doh !


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## Zep (Jun 8, 2017)

Nickleback99 said:


> , while also making sure you have a US phone number via magic jack, etc for your phone authentication 2 step by many US banks.


So I looked into MagicJack and it does not look like it will receive a text message (i.e., verification code) so am I wrong and it will accept a text message or do you check the "phone call" box on the bank login and it calls you instead of texting the code?


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## Lunkan (Aug 28, 2020)

fruitcop2 said:


> MAYBE send checks?


 I dont know if any change during the last years, but I know some who put in OWN checks to Phil bank. Functioned BUT they had to wait around a month every time before they got the money, I suppouse because of check frauds was common back then.


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## Tukaram (Dec 18, 2014)

Zep said:


> So I looked into MagicJack and it does not look like it will receive a text message (i.e., verification code) so am I wrong and it will accept a text message or do you check the "phone call" box on the bank login and it calls you instead of texting the code?


I use MagicJack and the app will receive texts... from some businesses... Never figured out why some work and some do not. Text from family always work.


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## Zep (Jun 8, 2017)

Tukaram said:


> I use MagicJack and the app will receive texts... from some businesses... Never figured out why some work and some do not. Text from family always work.


I see this in the Help section under the App and that was why I asked. Not sure what a "short code" is. I did not want to sign up and pay and then find out it will not work with Wells Fargo.

*Why am I not receiving text messages on my magicApp?*
Text messaging to your magicApp telephone number must be coming from a 10-digit telephone number. *Short codes (like banks and verification codes)* will not work with magicApp.


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## Gary D (Oct 28, 2013)

Zep said:


> I see this in the Help section under the App and that was why I asked. Not sure what a "short code" is. I did not want to sign up and pay and then find out it will not work with Wells Fargo.
> 
> *Why am I not receiving text messages on my magicApp?*
> Text messaging to your magicApp telephone number must be coming from a 10-digit telephone number. *Short codes (like banks and verification codes)* will not work with magicApp.


You often see short codes in texts, it could be something like "text win to 1234 or it may have a country code in front like +631234.


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## Shadowman (Apr 20, 2020)

fruitcop2 said:


> With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank


You could open an HSBC Premier account, they aren't closing those. 



fruitcop2 said:


> or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me.


Any mail forwarder will do that, try Home


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## tenant13 (Apr 28, 2018)

How about this: ACA-Members/SDFCU Account: Description and FAQs | Washington, DC |

Also: I have been testing my free Google Voice phone number specifically for receiving short codes and so far it worked with Schwab, Chase, Citi and all the crypto institutions. 95% places I tried. It did not work with PNC and - strangely - with the chat app Line (both demanded “real” mobile #)


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## LemSaDipolog (Nov 18, 2020)

fruitcop2 said:


> With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank, or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me. Stay safe guys.


Hello;

The Philippine Bank Metropolitan Bank has a US presence. That way US routing numbers work. The IRS and SS are perfectly happy dealing with my Philippines based account and they are as good as any other bank at customer service and online availability. Been using them for a Dollar and a Peso account for 6 years and conversion is not pricey.

HSBC was the biggest money laundering operation in history. They are why international banking is such a pain.

Respectfully
Don


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## Shadowman (Apr 20, 2020)

LemSaDipolog said:


> HSBC was the biggest money laundering operation in history. They are why international banking is such a pain.


HSBC Global transfers are international, instant, and free. Nothing else comes close.


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## Tukaram (Dec 18, 2014)

fruitcop2 said:


> With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank, or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me. Stay safe guys.


 If a company will only send checks you can use a mail forwarder that does check deposits. Traveling Mailbox does, and I am sure others will. I do all my banking on my phone app, the bank is in the US. Also, I can post a picture of the check to the phone app, and my bank deposits it. No need to send them the check.


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## Blue Dog (Apr 5, 2021)

fruitcop2 said:


> With my international bank HSBC closing in the US after harassment from the US government and other US banks starting to close non resident accounts (Wells Fargo is ) what is an option for someone whose pension will ONLY deposit to a US bank, or will MAYBE send checks? Anyone else run into this? I have no support group in the US to receive the checks and forward them to me. Stay safe guys.


You didn't say what kind of pension you get. I get my US SS direct deposited to PNB peso account in pesos. You can set it up with FBU in Manila, or if you prefer it can be sent to a dollar account.


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

Blue Dog said:


> You didn't say what kind of pension you get. I get my US SS direct deposited to PNB peso account in pesos. You can set it up with FBU in Manila, or if you prefer it can be sent to a dollar account.


Welcome to the forum Blue Dog, I've never heard of FBU so I performed a search and here's what I found from the US Citizens Service Philippines, Social Security: Link I think a few others would be interested in the FBU or The Federal Benefits Unit so thank you for sharing.

The Federal Benefits Unit (FBU) in Manila provides services for the Social Security Administration (SSA) and other federal benefit agencies to customers in the Philippines and over 40 other countries in the Asia-Pacific Region. Please refer to SSA’s website for a list of countries and the location of their servicing Federal Benefits Unit.

The FBU is unable to answer inquiries related to visas, passports, registrations of birth, voting, and the Internal Revenue Service (IRS). Please visit the Embassy Sections and Agencies page for assistance in contacting the appropriate section.

All services provided are free of charge and include:


Taking claims for entitlement to all types of Social Security benefits, including retirement, survivors, disability and lump sum death payment
Processing applications for new or replacement Social Security cards
Processing all post-entitlement issues, including foreign enforcement questionnaire, change of address, direct deposit enrollment, non-receipt of check issues
Resolving earnings discrepancies
Assisting with Medicare enrollment and non-coverage issues
For general information on Social Security, please visit www.SocialSecurity.gov.


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## fruitcop2 (Sep 1, 2016)

Stay away from USAA, They are doing everything in their power to make sending my annuity impossible.


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## fruitcop2 (Sep 1, 2016)

I get 4 payouts, OPM, SSI, USTVA and an annuity from USAA. Although they are doing everything possible to make getting my payments impossible.


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## fruitcop2 (Sep 1, 2016)

You are correct, but if I froze up $75,000 it would limit my assets. .


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## fruitcop2 (Sep 1, 2016)

I have a magicJack, but it will not work for many banks or even USAA as they require you to punch in numbers to make a contact, which these agencies can't read, then they cut you off.


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## Tukaram (Dec 18, 2014)

With MagicJack some business text do not seem to work. I figure it must be something in the automated text not compatible. Most companies can text or call. The calls always work, so it is not really a problem. 

As for USAA, I have used them for about 10 years and never had an issue with them. Opened the account online, I have never been to a branch, and have not lived in the US for over 8 years. Their app, ATM, and credit card work great. They do not care what part of the world you live in.


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## fruitcop2 (Sep 1, 2016)

Sadly I have my annuity with USAA, I don't know about their bank, but review sites are full of problems with their other services, so.....


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## fruitcop2 (Sep 1, 2016)

Nickleback99 said:


> Interesting info as we are WF and still in US for main accounts, prior to upcoming move back to PI and did not know about this closure thing. WF has a reciprocal agreement, or did, with BPI as I used to transfer $ to wife's peso BPI account from the WF account. No charge, but sure they made money on the rates, etc. Best thing, I think, would be to get a mail forwarding service here and use that address, while also making sure you have a US phone number via magic jack, etc for your phone authentication 2 step by many US banks. Also, if a vet, you might qualify for USAA or NFCU accounts, and pretty sure they don't care where you live. Two more ideas to check would be Citibank which has at least some branches in PI and Charles Schwab that many have talked about in past as they refund ATM fees you might incur in PI. Good luck and please keep rest of us posted.


Haven't checked with Charles Schwab, but their linked checking and investment account seems to require US residence. They have a global account, but that seem directed towards investments Still fighting with USAA, can't even get them to put account information on the check that HSBC requires to directly receive the paper check.


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