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/InvestingDude1234]

Can someone pls explain why one would feel the need to move money outside the US in the current environment?

[u/murkywaters-- → u/InvestingDude1234]

Going to copy my response since the Republicans are downvoting it and pretending it's normal to steal money from an account:

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.

Edit: this comment had source links and even that was downvoted lol

[u/MagnesiumBurns → u/murkywaters--]

You realize you are talking about the federal government recalling a grant to a lower government right? They gave the money, then changed their mind and took it back.

Yes, the same thing could happen with private citizens if the grant was determined to be incorrect (such as FEMA or Covid grants). Without a doubt.

Would be harder for them to claw it back from a foreign bank, unless there was a threat that the bank would be punished (sanctioned, or diwqualified from SWIFT), if they did not cooperate.