draculkain
New member
American Citizens Abroad (ACA) and the State Department Federal Credit Union (SDFCU) have come together to provide ACA members with a US Banking solution. This was in response to problems that many overseas Americans have experienced with their US-based banking relationships. To open an SDFCU account you must come through an approved organization. ACA qualifies as an approved organization for SDFCU.
In the wake of changes in US and foreign securities laws and regulations, including the Foreign Account Tax Compliance Act (FATCA) rules, many US banks are pushing away US citizens who reside abroad. US and foreign securities and other regulatory rules make it very difficult for banks to service this market and, frankly, many US banks are not intimately familiar with this type of customer.
ACA teamed up with the State Department Federal Credit Union (SDFCU) to help provide accounts for Americans residing abroad. This is the same account used by US citizens working at US embassies as well as many other people living around the world. You can reside full-time or part-time abroad and still qualify. Many banks require clients to provide a US residential address to open an account. This makes it difficult for Americans living overseas. With SDFCU you can use a foreign address to open your account as long as it is your residential address where you live.
NOTE: ACA does not manage the SDFCU account and products offered nor the application or onboarding process. This is done directly by SDFCU. SDFCU is solely responsible for determining eligibility for accounts and product offerings. If you have additional questions about SDFCU account features, products and/or questions about the application process, please contact SDFCU directly: newaccounts@sdfcu.org.
https://www.americansabroad.org/aca/sdfcuaccounts-description-and-faqs/
In the wake of changes in US and foreign securities laws and regulations, including the Foreign Account Tax Compliance Act (FATCA) rules, many US banks are pushing away US citizens who reside abroad. US and foreign securities and other regulatory rules make it very difficult for banks to service this market and, frankly, many US banks are not intimately familiar with this type of customer.
ACA teamed up with the State Department Federal Credit Union (SDFCU) to help provide accounts for Americans residing abroad. This is the same account used by US citizens working at US embassies as well as many other people living around the world. You can reside full-time or part-time abroad and still qualify. Many banks require clients to provide a US residential address to open an account. This makes it difficult for Americans living overseas. With SDFCU you can use a foreign address to open your account as long as it is your residential address where you live.
NOTE: ACA does not manage the SDFCU account and products offered nor the application or onboarding process. This is done directly by SDFCU. SDFCU is solely responsible for determining eligibility for accounts and product offerings. If you have additional questions about SDFCU account features, products and/or questions about the application process, please contact SDFCU directly: newaccounts@sdfcu.org.
https://www.americansabroad.org/aca/sdfcuaccounts-description-and-faqs/