I read one article that stated that some American banks will close your bank account under the Patriot Act if you don’t have a verifiable address in the USA once you expat. Does anybody have any experience with this?
Never heard of that, but if you’re American, it pays to maintain an address in the US (parents, relatives, property, etc.) for various reasons.
Hell yeah, I’ve heard of it! My bank closed my account six months after I left!! :fume: :fume: :fume:
Housecat,
Wow that sucks. Did you change your address with the bank to a Taiwanese address or to a US address?
[quote=“nonredneck”]Housecat,
Wow that sucks. Did you change your address with the bank to a Taiwanese address or to a US address?[/quote]
I didn’t tell the bank anything. They closed it from “non-use” or lack of transaction for several months. And didn’t ask me first!
That’s insane! Banks are supposed to be safe places where you can keep your money without worry.
[quote=“housecat”][quote=“nonredneck”]Housecat,
Wow that sucks. Did you change your address with the bank to a Taiwanese address or to a US address?[/quote]
I didn’t tell the bank anything. They closed it from “non-use” or lack of transaction for several months. And didn’t ask me first![/quote]
I think this has been pretty common for a while in the US.
Quite a while ago, when I wasn’t using my credit union as my primary financial institution, they froze my account once for non-use. I forget what I had to do to kick-start it, though. Commercial banks will “fee” inactive accounts to death until there’s nothing left anyway.