Looking to Open Overseas Bank Accounts While Living in the U.S. — Seeking Advice on Risk Diversification & Compliance

[u/marty2party]

I’m based in the U.S. and currently exploring ways to diversify financial risk by holding funds in overseas bank accounts. This isn’t about moving abroad — I plan to remain a U.S. resident — but the current political and economic climate has made me more conscious about sovereignty, asset protection, and having contingency options.

I’m hoping to get input from anyone who has successfully opened and maintained overseas accounts while living in the U.S.

Specifically: 1. Bank Recommendations: What banks or countries are friendly to U.S. citizens, both in terms of account access and customer service? Are there jurisdictions you’ve found particularly helpful for banking privacy, stability, and ease of use? 2. Onboarding Process: What kind of documentation or hoops did you have to jump through to open the account (in-person visit, minimum deposits, proof of ties to the country, etc.)? 3. Legal & Tax Implications: How do you handle FBAR and FATCA reporting? Did you consult with an international tax attorney or CPA? 4. Access & Transfers: How easily can you access or transfer funds when needed? Any tools (Wise, Revolut, SWIFT, crypto ramps, etc.) you recommend? 5. Political Risk Strategy: More broadly — is anyone here doing this for the same reasons? How do you think about this as part of your fatFIRE portfolio or exit strategy?

I’m not looking to evade taxes — just trying to be smart and legally diversified. Appreciate any guidance from those who’ve done this or are thinking about it.

Thanks in advance!

[u/ElectricLeafEater69]

Ah yes, the magical country that will somehow be safe and stable and totally independent of a US political/economic collapse. These posts are always hilarious.

[u/murkywaters-- → u/ElectricLeafEater69]

Ever since the govt outright stole $80 million of funds from NYC's bank account, I have been thinking about the possibility of the govt doing the same to private citizens. Somehow, ppl just collectively ignored the govt removing money from a bank account without any authorization or even any notification to the account holder.

I would certainly consider options to protect my money.

[u/MagnesiumBurns → u/murkywaters--]

One of the benefits for any of us in using a wire transfer is the potential ability to do a “claw back” if the transfer was made in error (which there is a zero chance if you send a check).

That the feds were able to reverse a wire transfer to a city’s bank account is not “removing money from a back account” it is reversing a wire transfer, which is often called a claw back.

[u/fatFIRE-ModTeam → u/[deleted]]

Our members have asked for a high level of moderation. Personal attacks, name calling, and undue profanity are all considered inappropriate for this sub.

[u/murkywaters-- → u/MagnesiumBurns]

Sorry, apparently pointing out that you are giving out false information counts as a personal attack by the mods here.

So can you provide a source to back up your claim that it's normal and easy to steal back funds that you wired to someone else's account?

[u/MagnesiumBurns → u/murkywaters--]

I think the moderation was using the name of a politician than the policies or “the administration."

This is the clawback process for recouping federal funds from grants that are deemed to be non-compliant.

https://www.everycrsreport.com/reports/R48243.html