If you need to keep or open a US account while living overseas, the shortest list of US banks that allow a foreign address is Charles Schwab, HSBC, and the State Department Federal Credit Union, with Interactive Brokers, Zenus Bank, and Wise rounding out the options on the digital side. Federal identification rules do not require a US address, but most banks impose one as internal policy. The institutions below have built their onboarding around customers who live abroad.
Charles Schwab
Schwab accepts a non-US residential address on its brokerage applications. You will need a tax identification number such as a Social Security Number, a passport or government-issued ID, and a recent utility bill showing your name, foreign address, and date of issuance.1Charles Schwab International. Open an Account Intro The account gives you access to US-listed securities, with one significant limitation: non-US resident clients can hold or sell existing mutual fund positions but cannot make new mutual fund purchases.2Charles Schwab International. Understanding Offshore Mutual Funds
HSBC
HSBC serves customers abroad through its Premier tier and its HSBC Expat division. Premier customers can view and move money between HSBC accounts worldwide through the Global View feature, using more than 28 currencies with no outgoing transfer fees from US accounts.3HSBC Bank USA. Global View and Global Transfers Premier checking requires at least $100,000 in combined deposits and investments, or at least $5,000 in monthly direct deposits.4HSBC Bank USA. Premier Checking Account Once you hold HSBC One, Jade, or Premier status, you can open an overseas account, and monthly maintenance fees are waived as long as you maintain the minimum balance in at least one market.5HSBC Bank USA. Applying for an Account Outside the US
Citibank
Citi has historically served international clients through its Citigold and Citi Priority tiers, but the bank has been scaling back retail banking in several countries. If you already hold one of these accounts, contact Citi directly to confirm your destination country is still supported before you move.
Interactive Brokers
Interactive Brokers operates as a global brokerage and accepts non-US addresses during registration. Because it is built to serve clients in dozens of countries, it avoids many of the geographic restrictions traditional retail banks impose. Its cash management features, including direct deposit and bill pay, overlap with a standard bank account, though it is primarily an investment platform.
State Department Federal Credit Union
SDFCU markets itself directly to Americans overseas and supports foreign addresses on new and existing accounts.6State Department Federal Credit Union. Banking for Americans Abroad It also runs programs tailored to overseas life, including home-buying help for State Department employees purchasing a US residence while stationed abroad.7State Department Federal Credit Union. Seamless Global Banking With SDFCU
Membership is open to employees and on-site contractors of the Department of State, their family and household members, and members of affiliated organizations.8State Department Federal Credit Union. Membership If you have no State Department connection, the standard path is a $15 lifetime membership in the American Consumer Council, which qualifies you to apply.9American Consumer Council. Join Now
Zenus Bank
Zenus is a US-licensed international bank regulated by the Office of the Commissioner of Financial Institutions in Puerto Rico. It offers USD deposit accounts and payments to individuals and businesses in over 160 countries without requiring a US address.10Zenus Bank. Zenus Bank – Global Banking and Fintech Solutions Because Zenus holds a US banking license, deposits are eligible for FDIC insurance up to $250,000.
Wise
Wise provides a multi-currency account with dedicated USD routing numbers, both ACH and wire, along with a US account number, so you can receive domestic transfers and direct deposits as if you held a traditional US bank account.11Wise. An Important Update to Your Wise USD Borderless Details Wise is a money services business rather than a bank, so it is not directly FDIC-insured. If you opt into Wise’s interest feature, your eligible USD balances receive pass-through FDIC coverage up to $250,000 through a partner bank (currently JPMorgan Chase). Without opting in, your funds are not FDIC-protected.12Wise. Is Wise FDIC-Insured?
Why Most Banks Say No, and What Federal Law Actually Requires
Every US bank must run a Customer Identification Program before opening an account. The rule requires the bank to collect your name, date of birth, an identification number, and an address.13eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks For individuals, the address must be a residential or business street address, not a P.O. box. If you have no street address, the bank can accept an APO or FPO box, or the street address of a next of kin or contact person.14Federal Deposit Insurance Corporation. Customer Identification Program
Nothing in that rule requires the address to be inside the United States. A foreign residential street address satisfies federal law. The restriction comes from individual banks, many of which decline foreign addresses because of the added compliance burden. That is why the institutions above stand out: their processes are built for customers who live abroad.
A commercial mail receiving agency, sometimes called a private mailbox or virtual mailbox, is a weak substitute. Some banks accept one alongside a true residential address; others reject it outright. Expect the bank to ask for your actual residential address as well.
Documents You’ll Need
Every bank will collect a taxpayer identification number before opening the account. US citizens and resident aliens provide a Social Security Number. Non-resident aliens can provide an Individual Taxpayer Identification Number, a passport number, or another government-issued ID number.13eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks
US citizens and resident aliens also complete IRS Form W-9 to certify taxpayer status and avoid backup withholding. Without a valid W-9, the bank must withhold 24% of reportable payments such as interest and dividends and send that amount to the IRS.15Internal Revenue Service. Instructions for Form W-9 Non-resident aliens file Form W-8BEN, which establishes foreign-person status and may reduce withholding rates if a tax treaty applies between the US and your country of residence.
To verify your foreign address, banks typically ask for a recent utility bill (gas, electric, water, or cable), a lease agreement, or a foreign government-issued ID showing your name and address. Most banks require the document to be dated within the last three months. If it is not in English, expect to provide a certified translation with the translator’s written statement of competence and accuracy, along with their name, signature, address, and the date.
What Changes About Investing Once Your Address Is Foreign
Keeping a US brokerage account open from overseas is not the same as being able to trade everything you could trade from inside the country. Most US brokerages block new mutual fund purchases by non-US residents. Schwab lets non-US resident clients hold or sell existing mutual fund positions but not buy more.2Charles Schwab International. Understanding Offshore Mutual Funds Fidelity has done the same since August 2014, and residents of certain countries face additional limits on depositing money or purchasing any securities at all.16Fidelity. Investors Who Reside Outside the United States
Exchange-traded funds are generally still available for purchase with a foreign address, and they are the usual alternative for expats who want to keep investing. Options trading, margin lending, and other advanced strategies may be restricted depending on your country of residence. Check your brokerage’s international client policies before you move.
Updating an Existing US Account When You Move
If you already hold a US account and are relocating, you will need to update two records: the bank’s and the IRS’s.
Most banks let existing customers submit an address change through online banking. The change usually triggers a compliance review where the bank verifies your new location against sanctioned-country lists and may request a foreign utility bill, a passport copy, or a government-issued ID showing the new address. The review takes a few business days at most banks. Rejected documents usually come back with a note explaining the problem, such as an expired passport or a utility bill older than three months.
To update your home address with the IRS, file Form 8822. Form 8822-B is for business addresses only.17Internal Revenue Service. Form 8822-B, Change of Address or Responsible Party Updating keeps tax correspondence, refund checks, and IRS notices arriving where you actually live.
One boundary worth flagging: moving to a country under US sanctions administered by the Treasury Department’s Office of Foreign Assets Control can result in your bank freezing or closing the account. Banks cannot provide financial services tied to comprehensively sanctioned jurisdictions. If your destination is on or near a sanctions list, confirm your bank’s policy before you go.
A separate reporting note if you also open a local bank account in your new country: foreign accounts can trigger FBAR filing once combined balances exceed $10,000 during the year, and FATCA reporting on Form 8938 above higher thresholds.18FinCEN. Report Foreign Bank and Financial Accounts Your US-based account at Schwab, HSBC, SDFCU, or any other domestic institution does not count as a specified foreign financial asset for Form 8938 purposes.19Internal Revenue Service. Summary of FATCA Reporting for US Taxpayers