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Can I have US bank account after moving back to India?
Yes you can keep your bank account in the US after moving back to India. You will however, need to make a small deposit or withdrawal every two to three months to keep the account from going dormant and escheating to the state.
Can I have a bank of America account if I live abroad?
Yes it is legal, but you will need to watch for reporting requirements in your country as part of the money laundering laws. Some countries require you to report foreign bank accounts that you control as part of their anti-money laundering statutes. There may also be an matter of interest income.
Can I have a US bank account as an expat?
Yes, a foreigner, non-resident, expat, or traveler can open a bank account in the US. However, the process is not as easy as it used to be and requires patience and planning. Some banks rule that you must have a US-based address, online banks rule you must have an SSN (or an ITIN for a foreigner), and so on.
Can I have a US bank account while living abroad?
A foreigner can open a bank account in the US. Most small banks only allow US citizens and permanent residents to open up bank accounts. These banks require a social security number, which non-citizens don’t have.
Can a US citizen living abroad have a US bank account?
If you’re a US citizen living abroad you can open a bank account in the US. To do so, you must apply to banks that accept US citizens abroad, maintain the US-specific ties that the bank requires, and pass the bank’s standard identity verification and compliance procedures.
Can I open a US bank account from another country?
To open a bank account as a non-resident, you will usually need the following documents¹:
- Proof of address with contact information and personal details.
- Two forms of ID – Passport and government-issued ID or valid driver’s license.
- Social Security number or Individual Taxpayer Identification Number.
Can I Keep my US bank account if I move overseas?
You’ll have to see if there are any tax requirements in your country for that interest or in the United States. While it may be legal to keep the account, your bank may close it if they see you have moved overseas. They might have a policy on issuing bank accounts only to residents of certain areas, or requiring a US mailing address.
Is it legal to open a bank account in another country?
Yes it is legal, but you will need to watch for reporting requirements in your country as part of the money laundering laws. Some countries require you to report foreign bank accounts that you control as part of their anti-money laundering statutes. There may also be an matter of interest income.
Can I withdraw money from my US bank account in another country?
Since foreign currency rates fluctuate, you may find it much more profitable at times to withdraw money from your U.S. account to spend in your new country – and that’s quite easy and convenient to do with your American ATM card. You will find that it is incredibly easy to manage all your American banking online in this day and age.
Can I use a US debit card in another country?
As it’s a requirement to have it for a bank account in United States. If you have a bank account it may be kind of hard to access it even with you have a debit card because most debit cards are not any good overseas. Without prior Bank approval. Even for citizens of the United States.