Keeping Your US Bank Accounts After Moving to the NL
Two weeks before we moved to the Netherlands, our bank emailed: "We can't serve customers with foreign addresses."
Panic.
We needed a US bank for tax payments, US income, credit cards, and financial ties. We scrambled to find a solution.
Here's what we learned.
Why You Need a US Bank Account
Tax payments: IRS Direct Pay requires US bank account. Alternatives (credit card, wire) are expensive.
Receiving US income: Many US clients can only pay to US accounts. Checks need somewhere to go.
Credit cards: Most US cards require US bank account for payments.
Financial flexibility: Emergency access, future plans, maintaining US financial ties.
Banks That Work
Charles Schwab (Our Choice)
- Explicitly allows foreign addresses
- No foreign transaction fees
- Unlimited ATM fee rebates worldwide
- No fees, no minimums
Our experience: 3 years, never an issue. Learn more in best US banks for American expats.
Citibank
- International bank with global branches
- Requires minimum balance ($1,500-10,000)
- Monthly fees if you don't meet minimums
Capital One 360
- No fees, no minimums
- But inconsistent expat policy—some get closed
Banks That DON'T Work
Chase, Bank of America, Wells Fargo: Require US address. Will close accounts with foreign addresses.
Our experience: Had Chase before moving. Closed it before we left—didn't want the risk.
The Address Problem
Most US banks require a US address.
Option 1: Family member's address (what we do)
- Use parent's/sibling's address
- They receive mail, scan important documents
- Free and trustworthy
Option 2: Mail forwarding service
- Traveling Mailbox, US Global Mail, Anytime Mailbox
- $15-35/month
- Professional, don't impose on family
Option 3: Keep old address (not recommended)
- Risky if you lose access
- Mail might not reach you
How to Transfer Money
Wise: Our choice for regular transfers
- 0.5% fee
- Real exchange rate
- 1-2 days
- $5,000 transfer = ~$28 fee
Bank wire: Too expensive
- $40-50 fee
- 2-4% exchange rate markup
- Use only for very large transfers
ATM withdrawal with Schwab: Good for small amounts
- Fees rebated
- Daily limits apply
Our Setup
Charles Schwab (US): $2,000-3,000 balance
- Receiving US income
- Paying US taxes and credit cards
- ATM withdrawals worldwide
ING (Netherlands): €5,000-10,000 balance
- Daily expenses
- Dutch bills
Wise: Transfers between US and Dutch accounts
Before You Move Checklist
- Open Schwab (2-3 months before)
- Set up US address
- Get debit card mailed
- Close non-expat-friendly accounts
- Update direct deposits and bill payments
- Test online banking and mobile deposit
Maintaining Your Account
Keep activity: Use debit card monthly, even small purchases.
Keep balance: $500-1,000 minimum.
Monitor: Check weekly for fraud.
Common Problems
Bank closes account: Transfer funds to Schwab immediately. Update all direct deposits.
Can't receive debit card: Have family forward it, or use mail forwarding service.
Can't access online banking: Schwab works from Netherlands without VPN.
The Bottom Line
Keep at least one US bank account. Use Charles Schwab.
Set up before you move. Opening US accounts from abroad is much harder.
For complete financial planning, see our moving to Netherlands guide and learn about US credit cards that work in Amsterdam.
Digital Guide — $199
Bank policies change. Always verify current requirements directly.