Question
I am a US citizen and will be submitting a Spanish Non Lucrative visa application soon (getting paperwork together) with the hope of moving to Spain in the next 6 months.
I will need to have a US bank account (my municipal pension will only deposit to a US bank; they don’t do paper checks, and they don’t make deposits outside the US).
If you’re a US citizen now residing in Spain (and if you don’t mind taking the time/energy to help), I am wondering about the following:
- Which US bank do you recommend?
- Why would you recommend that bank?
How are you maintaining a US physical address for US banking? My bank (Chase) has indicated that they will not accept any of the known virtual mailbox services as my physical address. I will not own property in the US when I move and most of my relatives have passed away (or they are in nursing homes and not able to help).
Thanks in advance to any of you willing to help out.
Answers
These are the answers of Spainguru’s Facebook group members:
“Wise has a US bank routing number. It goes through Chase Morgan I believe. In that Wise account you can also have a Euro account, British pound and many others.”
“We use Schwab brokerage and checking account which returns ATM fees to us. It’s a good idea to keep banking in USA, and Spanish checking account. We use Anytime Mail at local PakMail office as our legal address in USA.”
“I use Chase for personal and Bank of America for our business. Both have my Spanish numbers, paperless billing, but a US mailing address.”
“I use Navy Federal Credit Union and use my Spanish address, in Malaga, with no problem.”
“Most big banks will accept a mail service as a legal address. I use Wells Fargo and Anytime mailbox.”
“I have been banking with Bank of America for over 15 years now. They don’t care where you live to have an account with them, although they will not mail you your debit or credit over sea so I use a mailing address for that.”
“We use Citi and Schwab, both are reliable, safe and stable. We maintain a US address with a trusted friend.”
“I use Capital One, Bank of America and Wise. Capital One allows two-step verification without texts. Wise is low cost for conversions.”
“PO Box is enough of an address.”
“Try credit unions. I opened an account with San Diego County Credit Union using a PO Box address.”
“Citibank mails my credit card to Spain when I need it. I use a friend’s address in the States.”
“My property manager and realtor scan and email me important mail and toss the junk.”
“State Department Credit Union or Charles Schwab. I don’t recommend Wise as a full bank.”
“I transferred over 100k with Wise. It requires additional verification, but it’s possible.”
“Use a US credit card, pay in euros, and pay off from your US account for best rates.”
“Set all correspondence to email and set up two-factor with VIP Access app before leaving the US.”
“We are using a mailbox service in Nevada through physicaladdress.com.”
“Charles Schwab doesn’t charge forex fees or ATM fees and works with a Spanish address and number.”
“Use a second SIM card or eSIM to keep a US phone number active for text verifications.”
“I’m with Chase. They send texts to my Google Voice number. I use a small mailbox business for mail forwarding.”
“Chase mailed us cards to Spain. We use a UPS mailbox address and Wise for transfers.”
“I opened a SDFCU account through American Consumer Council for $15 and they accepted my overseas address.”
“Fidelity and Schwab refund foreign ATM fees. Revolut also offers good features but has a long waitlist.”
“I’m using Traveling Mailbox with Chase and Amex and haven’t had issues.”
“Use services like America’s Mailbox or DakotaPost for a mailing address that supports SD residency.”
Conclusion
The Spainguru community overwhelmingly supports maintaining a US bank account while living in Spain, especially for those receiving pensions or Social Security.
Popular banks include Charles Schwab, Citi, Bank of America, and credit unions like State Department FCU, largely for their flexibility with international addresses and low or no fees on foreign transactions.
Maintaining a US address remains one of the bigger hurdles, with many relying on friends, family, or services like AnytimeMailbox or physicaladdress.com.
Wise is widely used for money transfers, but not recommended as a replacement for a full banking relationship.
Setting up two-factor authentication (2FA) using a US phone number or secure apps like VIP Access is also a recurring recommendation. Keeping a US credit card and enabling paperless statements is key to hassle-free banking abroad.
