US Banks and expats in Ecuador

mugtech wrote:

The Patriot Act says U S citizens not living in the USA cannot have US bank accounts, but had never heard of it being enforced.  Has anyone in Ecuador had this problem?

USA-based banks and brokerages have closed some accounts in some places, granted.  However, based on my research and personal experience, I do not believe that the Patriot Act specifically prohibits USA citizens living abroad from maintaining existing accounts.

Some USA banks have refused to maintain such accounts based on their interpretation of the Patriot Act with regard to anti-terrorism factors.  However, I see no outright prohibition in the Act.

If you have a link to a citation from the Patriot Act that states the prohibition unequivocally, please provide such link.

To answer your question.... in my case, I have had no problem maintaining my accounts with two USA banks while living in Ecuador, nor with my USA-based brokerage.  I talk with these banks’ card-issuing departments from time to time and they send replacement cards to my only current mailing address, which is in Quito, Ecuador.

cccmedia, USA citizen with bank accounts in USA and Ecuador

Media, since you're having such good customer service in Ecuador from your US banks and brokerage, would you like to share which ones they are?

I'm in the market for expat friendly financial services.

I’ve just sent you a PM message with the names of my banks and brokerages.

I err on the side of caution by usually not mentioning my USA banks on a public forum.

cccmedia