Increasing numbers of overseas Americans are encountering problems with U.S. banks unwilling to open or maintain an account for them simply because they have a foreign address. Such accounts are needed to pay U.S. taxes, receive Social Security payments, make payments or have credit cards in the U.S., etc.
FAWCO's partner organization ACA has drawn up recommendations for U.S. citizens or greencard holders with such problems. FAWCO and ACA are both asking members for information on banking problems so that we can try to show that regulations soon to be implemented will, if not adjusted, cause major hardship for individuals and may cause American business concerns to close down foreign operations.
We are grateful to ACA for sharing these recommendations with our members, and encourage anyone who has had this kind of banking problem to contact and contribute to the growing file we will submit to the American Bankers Association and to our friends in Congress.