RetireJapan

Hey there Retire Japan. Thanks always for the help. Just wondering- do any of you have a US checking account with your Japanese address on it? I would like to keep a US checking account, but my current bank does not support foreign addresses, so I am thinking of switching banks. I would prefer one without minimums/fees, if possible, because I really only use it to write and receive birthday checks. If any of you have a recommendation, I would appreciate it. Thanks!

You can open a US account at Union Bank through MUFG. https://www.bk.mufg.jp/tsukau/kaigai/kouza/index.html

edit: Sorry I didn't read your post properly. It is a checking account, but it does have fees if you don't maintain a minimum balance.

I have an account with Wells Fargo which uses my Japanese address including printing that Japanese address on my checks. It's still, of course, a US-based bank account which means I can use it directly with the IRS when receiving electronic transfers or making payments.

I have an account with First Tech Fed, with my Japanese address. But it was opened when I was in the US, so not sure if they would be ok to open an account for someone who's not currently in the US.

Thanks for the reply, everyone. Here's a brief update: I called Schwab and they said I could just fill out a form to change my account to an "international" account. Sounds good. I filled it out and sent it back. Now they've sent me a notice stating that due to living abroad my current account will close in 30 days (!). They are processing my application but say I've forgotten to fill out part of the application form. See the "Taxes" portion of the forum for my continuing adventure...

viewtopic.php?f=8&t=1161

Just wanted to give a final update on this. I have successfully converted my Charles Schwab Investor Checking account to a Charles Schwab International Investors account. Here is a basic summary:

- Called Schwab to explain the situation. They replied with a scary email that said due to living abroad, they would close my account within 30 days and to complete the necessary paperwork to convert the account to an international account.
- I thought I completed the form but I missed a section called something like "W-9 Substitution." I did not sign it because I thought it did not apply to me, because section 4 states "I am exempt from filing FATCA." Individuals are NOT exempt from filing FATCA, and my attempts to explain this to the customer service representative did not go well. Schwab's documentation is actually in conflict with what the IRS says they can write. My explanations were going nowhere, and I was not about to sign a fraudulent document, so I just asked the customer rep, "Can I just send you an official IRS W-9?" and they said yes.
- Here's the tricky part. Once your paperwork is in order it takes FOREVER for them to convert the account. So, if this is your sole method of paying bills in the US, you've got to think that one through because you can't have any pending transactions on the checking account.
- First they will close the checking account and transfer your balance to your investor account. Then they will update your address and phone number to your Japan info you stated in the application. During this procedure, if you search for "routing" in the search menu, it should state what it stated previously- that your account is not eligible for outbound transfers.
- A few days later, if you search for your routing info again you will see that you now have a routing number for outbound transfers, but no account number is stated. Instead it says, "Please see your checks for your account number." You can wait for your checks to arrive in the mail (if you requested them), or you can call and ask what your account number is. Then you can re-setup any payment systems you had for stuff back home.

As far as I can tell, this is technically not a checking account, but a brokerage account with checking ability. And that, ladies and gentlemen, is how I got a US account with a foreign address.

Sheesh.

expat2011 wrote: ↑Fri Jan 15, 2021 11:38 pm ...
As far as I can tell, this is technically not a checking account, but a brokerage account with checking ability. And that, ladies and gentlemen, is how I got a US account with a foreign address.

Sheesh.

Did you get the debit card, too? It's one of best/better ones for expats--spot exchange rates overseas (not typical CC ripoff), and all ATM fees are waived/refunded. And sign up for their 2FA security dongle. Also register a verbal password for use when calling (or use their voiceprint voice recognition system).

Thanks very much for the tips! My checks and debit card should be in the mail.