Wells Fargo Bank New US Address Requirement

[TokyoWart]

For any US expats using Wells Fargo as their bank with a Japanese address, I just received an email today that they have changed their policy and will now require a US address for all accounts. This puts many US expats in a difficult position but it follows a trend of financial institutions making things increasingly difficult for US expats. They will allow you to change the address online.

[captainspoke]

Maybe they'd let it pass if you overlooked them creating extra accounts/cards for you...?

Seriously, too bad about that. I hope it's not too big of a dent in things.

[TokyoWart]

Maybe they'd let it pass if you overlooked them creating extra accounts/cards for you...?

Seriously, too bad about that. I hope it's not too big of a dent in things.

Actually when I first opened the account they tried to get me an (unwanted) credit card but I was rejected by their own system for lack of credit history

[coffeespoon]

Hello! I know this thread is a little dated, but I wanted to know if anyone else is in the same boat and what the solution might be -- ideally to keep my Wells Fargo account while living in Japan...

Recently I received a notification from Wells Fargo, my longtime stateside bank, in which among new policies was one stating that Wells Fargo is intended for customers in the United States, and that accessing its services from territories where its use is not permitted is prohibited. This edict goes into effect on 30 November 2022. Until now the suggested method around such discrimination against US citizens abroad ( like me) has been to declare the US address of a relative or friend, but now things have clearly tightened up. Do you think that just changing the address to a US one will be enough? Could any reader of this suggest a solution, or else direct me to banks less rigid ?

[RetireJapan]

to declare the US address of a relative or friend

That sounds like fraud, which can often have unpleasant consequences.

These people seem to have a bank account option for non-residents: https://www.americansabroad.org/

[coffeespoon]

to declare the US address of a relative or friend

That sounds like fraud, which can often have unpleasant consequences.

These people seem to have a bank account option for non-residents: https://www.americansabroad.org/

The good news is that I was able to get in touch with Wells Fargo and they say that even if I live abroad, with a US address and US phone number, it is ok. Thanks for directing me to the website, though. Good to know...

[Teflon]

Hello! I know this thread is a little dated, but I wanted to know if anyone else is in the same boat and what the solution might be -- ideally to keep my Wells Fargo account while living in Japan...

Recently I received a notification from Wells Fargo, my longtime stateside bank, in which among new policies was one stating that Wells Fargo is intended for customers in the United States, and that accessing its services from territories where its use is not permitted is prohibited. This edict goes into effect on 30 November 2022. Until now the suggested method around such discrimination against US citizens abroad ( like me) has been to declare the US address of a relative or friend, but now things have clearly tightened up. Do you think that just changing the address to a US one will be enough? Could any reader of this suggest a solution, or else direct me to banks less rigid ?

I'm using ipostal1.com which let's you select a real US address in any state. I chose Texas because it has no income tax and DFW airport is a major hub with many direct flights from Japan at reasonable prices. When I visited for Thanksgiving last year, I flew into Dallas and stayed for a week and changed my California driver's license to a Texas driver's license with my new Dallas address. Then I flew to California to visit my family.

It worked fine and my shiny new driver's license arrived a week later. The mail handlers in Dallas forwarded it to my parent's home in California where I was staying for Thanksgiving. I'm now an official resident of the Lone Star State and I've successfully changed all my financial accounts over to the new address without issue. I no longer have to worry about ridiculously high California taxes on my investments.

Anyway, check it out if you're interested:
https://ipostal1.com/virtual-mailing-ad ... ricing.php

I realize that with the Ultra Mobile phone service and with the iPostal1 address service, these small fees really begin to add up but it's worth it for me for peace of mind and to establish my US residency in a state with no income tax. Everyone's situation is different so you'll have to decide if it's worth it for you.

[TokyoBoglehead]

Hello! I know this thread is a little dated, but I wanted to know if anyone else is in the same boat and what the solution might be -- ideally to keep my Wells Fargo account while living in Japan...

Recently I received a notification from Wells Fargo, my longtime stateside bank, in which among new policies was one stating that Wells Fargo is intended for customers in the United States, and that accessing its services from territories where its use is not permitted is prohibited. This edict goes into effect on 30 November 2022. Until now the suggested method around such discrimination against US citizens abroad ( like me) has been to declare the US address of a relative or friend, but now things have clearly tightened up. Do you think that just changing the address to a US one will be enough? Could any reader of this suggest a solution, or else direct me to banks less rigid ?

I'm using ipostal1.com which let's you select a real US address in any state. I chose Texas because it has no income tax and DFW airport is a major hub with many direct flights from Japan at reasonable prices. When I visited for Thanksgiving last year, I flew into Dallas and stayed for a week and changed my California driver's license to a Texas driver's license with my new Dallas address. Then I flew to California to visit my family.

It worked fine and my shiny new driver's license arrived a week later. The mail handlers in Dallas forwarded it to my parent's home in California where I was staying for Thanksgiving. I'm now an official resident of the Lone Star State and I've successfully changed all my financial accounts over to the new address without issue. I no longer have to worry about ridiculously high California taxes on my investments.

Anyway, check it out if you're interested:
https://ipostal1.com/virtual-mailing-ad ... ricing.php

I realize that with the Ultra Mobile phone service and with the iPostal1 address service, these small fees really begin to add up but it's worth it for me for peace of mind and to establish my US residency in a state with no income tax. Everyone's situation is different so you'll have to decide if it's worth it for you.

As a non-American this all sounds a bit mysterious. Is a drivers licence and a postbox enough to establish residency? Seems like a system ripe for abuse.

[Teflon]

As a non-American this all sounds a bit mysterious. Is a drivers licence and a postbox enough to establish residency? Seems like a system ripe for abuse.

Americans are pretty mobile and the rules for establishing residency in a new state are fairly straight forward and not overly strict. I'm not sure how it could be abused. There aren't many advantages that could be exploited by declaring residency. The biggest advantage I can think of would be in-state tuition at state universities but they ask for proof of residency of at least one year to qualify for that.

[coffeespoon]

Hello! I know this thread is a little dated, but I wanted to know if anyone else is in the same boat and what the solution might be -- ideally to keep my Wells Fargo account while living in Japan...

Recently I received a notification from Wells Fargo, my longtime stateside bank, in which among new policies was one stating that Wells Fargo is intended for customers in the United States, and that accessing its services from territories where its use is not permitted is prohibited. This edict goes into effect on 30 November 2022. Until now the suggested method around such discrimination against US citizens abroad ( like me) has been to declare the US address of a relative or friend, but now things have clearly tightened up. Do you think that just changing the address to a US one will be enough? Could any reader of this suggest a solution, or else direct me to banks less rigid ?

I'm using ipostal1.com which let's you select a real US address in any state. I chose Texas because it has no income tax and DFW airport is a major hub with many direct flights from Japan at reasonable prices. When I visited for Thanksgiving last year, I flew into Dallas and stayed for a week and changed my California driver's license to a Texas driver's license with my new Dallas address. Then I flew to California to visit my family.

It worked fine and my shiny new driver's license arrived a week later. The mail handlers in Dallas forwarded it to my parent's home in California where I was staying for Thanksgiving. I'm now an official resident of the Lone Star State and I've successfully changed all my financial accounts over to the new address without issue. I no longer have to worry about ridiculously high California taxes on my investments.

Anyway, check it out if you're interested:
https://ipostal1.com/virtual-mailing-ad ... ricing.php

I realize that with the Ultra Mobile phone service and with the iPostal1 address service, these small fees really begin to add up but it's worth it for me for peace of mind and to establish my US residency in a state with no income tax. Everyone's situation is different so you'll have to decide if it's worth it for you.

Thanks for your post!