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Keeping US Bank account after leaving

Keeping US Bank account after leaving

Old Mar 14th 2019, 7:56 pm
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Default Keeping US Bank account after leaving

Hey All. So I know from reading here that you can keep a UK bank account open pretty much indefinitely as long as you keep a balance in it. What I'm wondering is if it's possible to do the same with a US one once we leave?
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Old Mar 14th 2019, 9:06 pm
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Default Re: Keeping US Bank account after leaving

Don't see why not, especially with paperless being an option. But you're more likely to see account maintenance fees for not having a salary paid in, and also be under more scrutiny from IRS?
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Old Mar 14th 2019, 9:06 pm
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Default Re: Keeping US Bank account after leaving

I don't know.
You may need an address in the US to keep it open.
It also may depend on the bank.
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Old Mar 14th 2019, 10:32 pm
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Default Re: Keeping US Bank account after leaving

Originally Posted by neill View Post
Don't see why not, especially with paperless being an option. But you're more likely to see account maintenance fees for not having a salary paid in, and also be under more scrutiny from IRS?
Yes that was my primary concern, that there would be some regulation preventing it.
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Old Mar 15th 2019, 12:38 am
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Default Re: Keeping US Bank account after leaving

I suspect this is the real answer.

Originally Posted by Hotscot View Post
It also may depend on the bank.
After we were married (in the US) my wife and I moved to live in the UK for 11 years. Her bank (actually a credit union) kept the account open, with our UK address, sent out credit cards, had me added to the account, etc. No maintenance fees, no issues at all.

And we changed UK address at least once in that time, updating bank details with no issue.

So it is, or was, certainly possible.

If I remember rightly the hardest bit was getting the UK address to fit into the allowed space on their computer system!
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Old Mar 15th 2019, 5:06 am
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Default Re: Keeping US Bank account after leaving

My wife kept her US credit union account open for the 10 years she lived in the UK.
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Old Mar 15th 2019, 2:02 pm
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Default Re: Keeping US Bank account after leaving

Thanks guys. I imagine credit unions are probably a special case given the requirements to join one here.
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Old Mar 15th 2019, 2:26 pm
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Default Re: Keeping US Bank account after leaving

I don't think there's any State or Federal regulation that prevents you keeping your account.
Just the banking organization policy so just ask your them. They generally want are desperate to keep your money and account.
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Old Mar 15th 2019, 9:30 pm
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Default Re: Keeping US Bank account after leaving

Originally Posted by bartholemues View Post
Thanks guys. I imagine credit unions are probably a special case given the requirements to join one here.
Thinking bank we also had a joint checking account with Wells Fargo while we were in England. My wife couldn't put me on her credit union account as it also had a savings account with it and I didn't have a SSN.
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Old Mar 18th 2019, 10:26 am
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Default Re: Keeping US Bank account after leaving

I've still got a BoA account - I left 3+ years ago. BoA send me things to my UK address.
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Old Mar 21st 2019, 4:28 pm
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Default Re: Keeping US Bank account after leaving

It depends on the bank I think. Before moving we checked with our bank if they would support an overseas address and they said “no” so we switched to one that did.

same happened with our son who was with a different bank. If you have 401ks or IRAs it is also worth checking as some brokerages and plan providers will support overseas customers while others won’t.
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Old Mar 22nd 2019, 6:46 pm
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Default Re: Keeping US Bank account after leaving

do you mind sharing which bank allowed UK address.
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Old Mar 23rd 2019, 1:54 am
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Default Re: Keeping US Bank account after leaving

HSBC US, but I believe others have also stated that Barclays also allow their US customers to have a foreign address. I expect there will be others but I went with HSBC US because I have had an HSBC UK account since 1986.
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Old Apr 5th 2019, 2:18 pm
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Default Re: Keeping US Bank account after leaving

I kept my US bank open since I left the US to return to the UK, no US address either.
They do struggle a little with a few thinkgs like mailing me spam in the post and some other online things that need info I don't have any more (like a zip code) but they been quite accommodating with giving me a "fake" one etc
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Old Apr 5th 2019, 6:30 pm
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Default Re: Keeping US Bank account after leaving

B of A let me keep my account for several years after I moved to Canada, about 7 years in, they sent a letter saying they were reviewing customer accounts and they could no longer support my account and it was being closed, included in the letter was a check for the amount that was in the account.

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