Originally Posted by durham_lad

While living in the UK I've been making partial withdrawals from my Roth and brokerage accounts plus doing IRA to Roth conversions from overseas. .

Originally Posted by PimRoad

I hope you're doing the currency exchange using Transferwise at under 1%, rather than getting dinged 4% by the old Steam Age Banks.

Originally Posted by mrken30

Have you tried xendpay? They seem to give better rates than transferwise.

Originally Posted by mrken30

Have you tried xendpay? They seem to give better rates than transferwise.

Originally Posted by mrken30

They may not allow partial draw downs on the account.

Originally Posted by MidAtlantic

Have you used them?

Do they actually do $ to £ transfers? They don't show that option in their conversion rate table.

Originally Posted by mrken30

I have only done £ to $ transfers, I guess it was a bit of an assumption that they may do both directions.

I just looked, $1000 = £743.14

Change the country at the top from UK to US.

Originally Posted by CaptainPea

To make it clear we are currently resident in the USA and are trying to open a new US IRA account before we leave. We would then immediately, i.e while we are still in the US, roll my wife's IRAs into that. All because the local bank that currently hold the IRAs will not allow us to have a UK address.

Vanguard said they will not allow us to open an account in the US while we are still here, move to the UK and then manage it from the UK. This seems contrary to the experience here - although I note the rules may have changed in July. However maybe we got a misinformed advisor.

After a few hours on the phone to HSBC USA:
We cannot set up a managed IRA account with HSBC.
HSBC are unsure if we can set up a new US checking account and then subsequently open a self-managed IRA account; and still manage it from the UK in the future. The problem there is that they know that someone with an existing account could have a self-managed account and be in the UK (as some of you maybe do). But they just don't know if the July ruling changes that for accounts set up now.They are looking into that.

It has been just another day on the phone to banks!

And still confused.

Thank you for your support.

Originally Posted by vikingsail

This illustrates my point why would you volunteer this information. Likely things would have gone much smoother from the outset if you had just asked to open an account.

Originally Posted by mrken30

That is the approach this poster took, but it did not help. Unfortunately they did not choose Vanguard.

http://britishexpats.com/forum/usa-5...1k-ira-901989/

Originally Posted by mrken30

..... I am not sure what would stop you managing your account online. It may not be 100% , I have no idea. But if you did not say anything, there is no reason they would stop your online access.

Originally Posted by Pulaski

It is perfectly possible for them to track the IP address of where you are logging on, and I believe it is already fairly common for financial institutions to do so, so they can check for people accessing their services from Iran, contrary to OFAC sanctions. If they have an objection to accounts being "managed" from outside the US then it is only a small step for them to track the IP addesses used to log into their system. ...... To be clear, I have never heard of IP tracking being used to identity and close a non-US managed account, but it is possible.