大咖福利影院

THIGV,

Thanks for confirming this for me....

Best,

T

Another option would be to Western Union money to yourself.聽 Not the best long-term solution but cheaper then international ATM fees. $10 USD to send $800, not bad.

Adhome01,

Thanks for the other option. Not a bad rate. Not sure if I want that much cash to worry about. I don't know what my home security situation will look like at this point.

Thanks,

T

I should note that my reply was centered on whether it is better to stick with a US direct deposit rather than direct deposit to a VN bank.聽 There are clearly cheaper ways to move money than ATM withdrawals.

I don't think you have to worry to much about your SS pension. You can't direct deposit it to a VNese bank anyway. Not sure why your so anxious about this, or what U.S. institution you bank with. But I have my ATM fees rebated to me by my U.S. Bank. They are great to do business with as well. The major problem I have had is that many banks will cut you off from computer access because of the hacking problems and fraud here in VN. You can check your IP address and it is always blacklisted by some black listing agency. But my prime bank so far has not had this issue. Not sure what city here you plan to live in. But in HCM you can withdraw 5 million VND at a wack. My bank will let me
withdraw up to $4,000 at a wack. But up where I live I can only withdraw 3 million a whack. Of course in the areas where there are a lot of tourist you will be limited more so.
We no longer have the problems we once had with SS pensions either. Perhaps what you read about VN and SSA was an outdated version of it being one of the restricted countries in the world because VN did not report vital statistics to other countries.

Diazo is right that a lot of the problems with SS and VN banking are being cleared up and should only get better.聽 However consider this:聽 In the highly likely event that you do not spend your entire social security benefit each month, will you be able to send the residual back to the US at a later date?聽 If you have strong assurances, preferably in writing, from your VN bank that such will be possible, direct deposit to a VN bank may be the best solution for long term residents and retirees.聽 聽

However, the OP stated that his planned stay was "at least a year" so it is not definite and hence all the more reason to not change his direct deposit.聽 You wouldn't want to be returning to your home or a third country with a residual amount in a VN bank as this poster discussed about a month ago:聽 /forum/viewtopic.php?id=659424聽 It is not clear if his issue was ever resolved.聽 It also points to the importance of choosing the right bank in Vietnam (See post #21.)

I would certainly agree with THIGV to leave at least you SSN pension in a US institution for manifold reasons. However, everyones situation is different, their ideas of expensive different, their incomes different. Heck when I moved here I went through the same issues and probed and prodded people thoughts. And it is not easy, because if you are switching banks in the USA to accommodate you VN life then you must open the account before you leave. I had thought the same as the OP when it comes to Citi Bank and Wells Fargo as far as that goes. But these banks are not US banks here. They do not operate under US law. At best they have cooperative agreements and operate under the franchise umbrella of there US namesake. I lived in Mexico before this, and it was the same thing.
Keep ion mind the dollar is king. International settlements must be done in dollars. So if you have the opportunity to keep your funds in dollars in a US bank I think you will be far better off. We have many from other countries here that just wish their pensions were tied to the dollar. I realize that is not the discussion here. My suggestion to the OP is to find a bank that will rebate his ATM's fees here once a month. Schwab rebates 25 transaction a month. I never make more than that in ATM withdrawals. If you want to exceed you daily limit, just give them a call and they will increase it to $4,000.
聽 I will say to the OP while your in the planning phase get a VOIP subscription service set up with the likes of MagicJack before you leave. Makes things so much easier.

I don't think they are taxable because the bank only sees incoming money and the source is mostly irrelevant. The bank just collects their small fee for the聽 transfer.

The bigger issue you should be concerned with is if you want the US government, specifically the SSA, to know you are living in Viet Nam for a year. Since Viet Nam and SSA do not have any agreements American expat that live in VN have to go to the embassy, consulate or one of the remote sites every quarter to check in that you are still alive. It can be a bit of a PITA

It looks like the S.S.A. has dropped the mandatory 90 day visits to the U.S. Consulate General in Ho Chi Minh City.聽 A few months back I also remember hearing they were going to open a S.S.A. office in HCM.

SSA beneficiaries in Vietnam

The Social Security Administration (SSA) is in the process of removing the payment restrictions in Vietnam.聽 SSA has attempted to contact all recipients in Vietnam who are currently receiving direct payment to notify them of this change and to complete required forms.聽 If you have been contacted by SSA directly then you are no longer required to sign in on a 90-day basis to receive your payment.聽 If you have not been contacted by SSA and are currently receiving payments, please contact the ACS section nearest you to finalize this paperwork.

Indeed, It has been some time now that we have not had to go to the embassy. Don't fret that, or hiding the fact your in VN from SSA. There database overlap with every other gov'e agency in the USA that it would be futile anyway. I draw SS and I can assure you it is now just like receiving benefits in America. The only thing different is you pay date may cahnge as those outside the country are paid at the first of the month.

The for living overseas. No direct deposit in VN banks but that might change. I like keeping my dough in the US. Charles Schwab Bank checking seems like the best, no ATM fees for me, some other banks have low fees. compares these things. HSBC bank in Saigon allows ATM withdrawals up to 8.000.000d with my Schwab card.

Really, glad to hear that about HSBC and Schwab. At one time some years back ANZ allowed 10,000,000d. Citi is 5. But I only come here occasionally. Where I live the max per transaction is only 3 and that is with only a couple of banks.

I have used HSBC as I have a US account. My suggestion, if you can, would to open an account next time back in the US. If you have the funds go Premier. Be sure to ask for an "HSBC Master Debit Card". They are not so eager to tell you but with this card there are no transaction fees. A normal ATM card will have transaction fees. I travel the world for business and HSBC works great for me. Once set up my guess is you can have the SS direct deposited into the US account and have access here with the ATM.

As I have been informed if your money is not related to work inside Vietnam it will not be taxed.

Best of Luck

Cooler,

Thanks for the info....As I'm already here, I will look into it when back in the states.,..

T

Gobot,

Nice detail. It has been awhile since I have reviewed. Our needs are simple. With the Premier account it fits all of our needs. Pay bills, ATM and bank transfers in 24 hours within current exchange rates. Maybe not for everyone.

Yeah guys,

In the same boat as THIGV. Not enough water to fill the trough. Hahaha..... Nice to know the options are improving though
Regards,

T