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Voyager39

Residency Disclosure While Living Abroad

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Salty Dog
4 hours ago, throttleplate said:

And no you cannot use a VOIP phone call as they said it wont get past their security so i tried by subscribing to a voip service and they were correct it doesnt work.

They must not care for their customer base. Most people in the US now don't even have a landline. They use VOIP and/or cell phones… 

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throttleplate
3 hours ago, Salty Dog said:

They must not care for their customer base. Most people in the US now don't even have a landline. They use VOIP and/or cell phones… 

yes they told me they are getting alot of complaints from people traveling or moved abroad but they are sticking to it as they said verify by email is less secure than by phone. I only joined the bank to buy a CD that paid good interest and i did that when i was back in the usa visiting and i never read the disclosure notice about phone verify only.

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wondersailor
4 hours ago, throttleplate said:

yes they told me they are getting alot of complaints from people traveling or moved abroad but they are sticking to it as they said verify by email is less secure than by phone. I only joined the bank to buy a CD that paid good interest and i did that when i was back in the usa visiting and i never read the disclosure notice about phone verify only.

Banks are nasty little pissants, one and all! You let them hold your money and then they don't want to give it back. I changed from Pissant of America a few months before my move here to a federal credit union. I met their criteria for opening an account but no longer do. They seem to be fine with it so far. The only glitch in their system is I am forced to change my password every time I log in. So I do and receive a phone call to my phone in the Philippines to verify . US banks will claim this rule or that is because of some government rule. I don't believe it. I think the problems are of their own making.

 

 

 

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Jawny
On 8/13/2019 at 10:21 AM, Jawny said:

Just today I was able to complete a registration to a Capital One account.  A person I know has an account and added me to the account as co-owner.  It was a Capital One 360 account.  The process was relatively simple.

I was sent an invitation once the friend had told Capital One. The email invitation had a link with a registration process.  The part is was dreading was "proof of residence". Turns out, they had a simple way to confirm I was who I said I was.  There was no need to prove I lived where I said.  

The process must have gone to one of the credit reporting agencies, since I was asked three questions......have I ever lived at or used one of these address, and four different addresses were listed.  One I knew.  Second question was where was my SSAN issued.  Third question related to the first....what city is the address above in?

After that, I was able to set up a user ID and such.

The only issue after that was when I first logged in.  I am guessing the system detected I was logging in from overseas.  I was directed to choose one of two methods to verify it was me.  First method, send a text message to the phone number listed.  Second method was to receive a call whereby I would be confirmed to be myself. 

I opted for the text message, and it was easy for me to get the code sent by my contact.  I had. 60 minutes to complete the code use.  Worked like a charm.

Today I was able to activate the debit card, in the possession of my associate not in the Philippines.  It was simpler than the last contact with them.  I used their app, and logged in. I expected to be greeted with the requirement for a passcode to be sent.  Nope.  Logged in fine.  Next step was to activate the card, which was simple, but a passcode was required.  The surprise was I was given the option of using email or a phone.  I opted for email and got the passcode in under a minute.  Finished.  Just need to sort out best way to get card to me here.

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NRG
Posted (edited)

If anyone is reading this and is from the UK, here is what I have done. 

I do keep an address in the UK, purely for a banking address. I do not use it for anything else and I am not on the electoral roll either. 

I bank with HSBC and they know that I am staying in the Philippines long term. When I first informed them of my travel plans and that I was going to be in the Philippines for a while, I was asked how long, I said I was not sure, but a number of years, she said on the phone that she will put it down that I will be there until 2018. That was in 2008, so 10 years. I again rang them up last year and told them that I am extending my stay and they put me down that i would be here for another 10 years, until 2028. They send all my debit and credit cards to my address here in the Philippines, though at first I did have them send it to my UK address and then someone sent them out to me. They even send the replacement cards earlier. than they would if i was in the UK, 3 month before they expire so they get to me before my current cards do expire. They have my Philippine cell number on file and have on occasion rang me. They did also offer to send my cards to the HSBC bank in Cebu, but that would mean having to go to the city to get them, and i try and avoid the city like the plague (That's another story ha)

I did once lose my credit card and rang them up to report it and get a replacement and the nice lady on the phone, rang me back on my cell phone due to the fact I was ringing them on Skype and had a bad line, it turns out at the end of the call that their call center is actually here in Cebu, in the business park. I am not sure if it still is though. 

But all in all I have had no problems with this bank concerning where I actually live and for how long, all they want is a UK address. 

That's my 2 pence worth. 

Edited by NRG
Updated

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enoonmai
On 8/12/2019 at 12:43 AM, Voyager39 said:

Based on the above, I was wondering what expats here do in connection with this issue.

As for the health insurance, I used Blue Cross Philippines, now Pacific Cross, for me and later family. In-patient only because dr visits are cheap. The costs were reasonable and I had a hospital stay and major operation a month after I purchased the policy after an accident. They paid out about P1.5 million, no questions asked. They probably overbilled because they knew insurance was paying. Rep came to hospital and worked out everything. Had 3 or 4 other claims, no problem. Just my own experience.

You're right about the US banks not wanting your business in the phils. And the Philippine banks don't want you either because of the reporting requirements. You've gotten some pretty good advice on that, I never told any bank or brokerage I was living there. Just kept extending the travel dates. I used a US address of a mail-forwarding service. Just keep in mind bank policies can change. Good luck. 

 

 

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Cebuandrew
3 hours ago, enoonmai said:

Just my own experience.

My favorite words on this site.

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Paddy

If you are planning to move to another country and expect to continue financial transactions in the original country after moving...

1. Don’t close your existing bank account (and have online banking)

2. Keep your original country cell phone account 

3. Get an existing country contact address. This is ideally with someone you can trust unless...

My UK bank points to my Canadian contact address and cell number. They were happy to accept a foreign address but I had been their customer for some 30 years when I made the change.

The UK bank is about to start 2 factor authentication for its online banking system. I will be interested to see whether they will be capable of international texts!!

My Canadian bank already does occasional 2 factor authentication using my Canadian number. It works fine here although I get a little ding on roaming. 

The UK bank supports international wire payments online although set up requires a card reader - which I have.

The Canadian bank requires in-branch presence to do international wire transfers which makes life tricky unless you have a trustworthy person to work with (I do). I can also use a remittance company for direct to Philippines bank or cash pickup or Visa Direct from online banking to an RCBC card.

I realize the US banks can be significantly more anal than the rest of the world and also that there are other ways of getting set up.

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SkyMan

The biggest problem I have with verifications is from the IRS which doesn't work with Google Voice.  About anything else I've run into does.  The banks I use send a txt to my GV number and I get a gmail with the code.

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