Can I keep my US bank account if I move abroad?

Ask your bank before you leave. Whether it keeps serving you from abroad is its call, because the CFPB says a bank or credit union can close your account without your permission. It's most likely to happen if you write bad checks or don't keep enough money to cover the fees. Banks can also close dormant accounts with no activity for a long time, generally years. Some states require notice first.

1. 1

   Update your address

   At Wells Fargo you change a US address online, but for an address outside the US you call 1-800-956-4442. Check how your own bank does it.

2. 2

   Keep enough money to cover the fees

   A balance that can't cover fees is one of the reasons the CFPB gives for a bank closing an account.

3. 3

   Use the account now and then

   An account is generally considered abandoned after three to five years with no activity or contact started by you, says the OCC. The bank usually tries to reach you at your last known address, then turns the balance over to the state.

4. 4

   Update your tax form if your status changes

   A foreign person gives Form W-8BEN to the bank when it asks. If something on a W-8BEN you already gave becomes wrong, the instructions say to tell the bank within 30 days and give a new form.

The money isn't lost. When a bank treats an account as abandoned, the balance goes to the unclaimed-property program of the state, and every state has one. The exact waiting period depends on that state's law. To look for the money, the OCC points you to your state's unclaimed property office.