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Non Resident Bank in

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1.2K views 7 replies 3 participants last post by  Harry Moles  
T
Discussion starter
3 posts · ed 2024
I lived in in the past and am eligible to receive a pension. I moved back to the US a long time ago and wondering if anyone has a suggestion as to where I could open a Non-resident bank where the charges are minimal.
Thanks in advance
 
If you're looking to open an to receive your German pension in euros, you may want to set up an online in Wise (formerly known as Transferwise). You can get a Euro (with a Belgian number and IBAN) where your pension can be paid into. Then when you want access to your money (or on a regular basis, as you prefer) you can exchange and transfer your money to your US bank .
 
T
Thank you for your reply - The Insurance company refuses to pay into my Wize . Additionally they would not pay into my EUR with a UK bank since they were concerned with clawing back the payments in the case I died and continued to receive the pension. They are saying I need to get an IBAN number in my name.
 
I guess you're talking about a private pension. The German state pension can be paid into just about any European (as far as I know), and Wise does give you all the information you need to provide the IBAN number (and number) in your name. But private pensions can be "sticky" about these sorts of things.

I'm not sure if German banks "do" non-resident s these days.
 
H
With Wise be sure to set up the multi-currency banking that gives you a euro with a proper IBAN. Alternatively, try N26, it's an expat-friendly online bank. I've used ING as non-resident quite happily but I think you do need to be resident when you set it up.
 
H
My mother-in-law's state pension was paid into a Canadian , no problem at all. She probably lost on the exchange rate but it wasn't a huge amount of money. I think they even managed to claw back a few payments made after she ed away, as it took some time to successfully report the death.
 
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