Expat Advice: Financial Issues in Sacramento, California
What is the name of the city or town that you are reporting on?
Sacramento
Which banks do you use? If you have a local account, which bank do you use? How do you like it? Do you also have an account in your home country? Which bank? Do they charge for ATM withdrawals? Do they charge a lot for international wire transfers? How has it been working with them from abroad? Do you use a special international wire transfer service? Do you use an online bank? If so, tell us about them.
No, I first got a Bank of America account which annoyed me so much with their lack of customer services (and charging for them too!) that I looked elsewhere and got an account with a local credit union who turned out to be very friendly and flexible and give great personal service. I use them for my Bank account, HELOC and car loan. It's worth trying to find a local Credit Union (they have simple qualification rules, such as must live in a specific area or be employed by a specific employer or industry type.
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What advice would you offer others about banking as an expat in your country? What do you wish you had known about banking when you first arrived?
See above, also, don't close your home bank account, ever! (unless you never intend to return). It's almost impossible to re-open it if you do.
What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.
It's annoying that bank and sharedealing accounts in one country are not supposed to be used/accessed from the US - dont know why, some legal mumbo-jumbo - ignore them.
Do you do your own taxes, use a local firm, an expat-oriented firm or does your employer handle this for you (i.e. via an corporate tax firm)?
I use a very nice lady who does a great job every year for $110.
What advice could you offer others about doing your taxes as an expat?
Get someone else to do it. Ask a friendly face at work who they get to do their personal taxes (a CPA) and use them.
Additional Information:
- Expat Guide to Sacramento
- Cost of Living in Sacramento
- Healthcare & Health Insurance in United States
- Best Places to Live in United States
- Real Estate in United States
- Pros & Cons of Living in United States
- Best Places to See While on a Look-See Trip to the United States (Plus, Itineraries)
- Pros and Cons of Living in United States 2024
- 2024 Guide to Moving to United States