Which bank for social security payments

[richenns]

I'm going to be collecting SS soon but not sure what bank to put it in.

I have a US small credit union bank that I hate and hardly use it. Reasons for hate: The UI is from the late 90s. You have to call them to do the simplest thing. Example, they couldn't connect to my paypal account. I had to call them and paypal to have it done manually.

An account at a major Australian bank that I love

A Wise account that I love (not really a bank)

Any recommendations for a US bank? Something that is modern and easy to use regardless of what country I'm in. Modern app, TOTP or something modern.

I'm currently back in the US but hating it so I'm going some place else but want the banking and social security checks to be taken care of before I leave.

Don't say Charles Schawb. They gave me a hard time for wanting to open an account with the proceeds of one of my Aus properties.

Capital One 360?

 

[minhnguyen2k]

@richenns What’s wrong with Wise?

 

[richenns]

@minhnguyen2k I love Wise. I was just wondering if social security checks can be direct deposited to a Wise account?

I was able to DD IRS checks into it but those are just one off each year.

 

[dovesong]

@richenns How do you access the money? ATM for cash and everything else on credit card and bill payment?

I've had a good experience with Wise, but it is more limited in terms of payment options. Your money also doesn't have the same protection it would if in a bank. I transfer a lot using Wise, but I don't leave the money in it.

Chase is pretty decent. App works fine, was able to open an account when overseas with zero issues.

You don't want to go with Charles Schwab, but they let you take money out at any ATM worldwide with no fees - that could be a big plus.

It really depends on what you're going to use it for. Among the big banks, I'd just try and avoid fees.

 

[richenns]

@dovesong I don't think I've used cash in quite a few years so don't really need an ATM. I use a digital wallet.

I have credit cards and debit cards for Australia and the US credit union

Same with Wise and Paypal, have debit cards

I'm thinking Wise might still be the best go between for the banks I have. I still need the Aus bank to receive money from assets there and I need a US one for SS.

 

[bluedragon1988]

@richenns I like my small town bank where I still have a checking account. The banking web site is ok/good. I still have a US credit card and an Amazon account (mostly for Kindle books) that I pay through that account. Tax refunds (think Corona rebate check) goes there. Not sure if any of that applies to you or if alternatively, you can use Wise for it.

 

[jgl]

@richenns If you can keep a valid US non-VoIP number and don't need to move >$75,000 a month, Wells Fargo might be an acceptable option.

You can read this (Section I and II) for some insights:

https://www.reddit.com/r/expat/comments/16xrwre

 

[richenns]

@jgl Yes, I plan to keep my US mobile number. I have VOIP one and an Australia number too. Even though the Aus bank has a 2FA thing of it's own, it still will do sms verifications when roaming.

 

[ray47238519]

@richenns Wise