brookwood

How do Americans who live in retirement outside of the USA receive their Social Security checks?

kismetchimera

I guess they open an account with local banks or just use ATM machine to withdraw their moneys...

mikemo

Direct deposit to USAA Fed'l Savings Bank and ATM w/d's.
M (SMdA, Gto., MX)

LoveItaly

Hi brookwood, do you know that Medicare does not cover you when you live outside of the US? You probably do but just wanted to mention it just in case you didn't.

If I lived outside of the USA I too would have a checking account with USAA Savings Bank as mikemo suggested. Your Social Security check could have a direct deposit to your checking account and USAA allows something like 10 (or is it 15) ATM withdrawals without any charge. If you are charged USAA credits the charges back to your checking account.

brookwood

I have no interest in it, but a friend does.

basingstoke1

Unless things have changed, I believe that USAA services are available only to active and retired members of the US uniformed services including reserves, their spouses and children.

Budman

USAA banking services were open to all, but as of 30 June that changed back to only Mil & retired & their kids.

BTilke

We're not getting SS checks yet (if we ever do), but we'd have them deposited into our U.S. bank account. We might open an account at one of the American banks with many branches overseas (like Citibank) or perhaps a British bank with branches in the U.S. (HSBC).
Our current U.S. bank statements go to a stateside relative who banks with the same U.S. bank we do.

jsmith

I think I'd start at this OFFICIAL Social Security page:

http://www.ssa.gov/pubs/10137.html#what

mikemo

Budman, no kidding, they really closed the bank to other than real members?
Wow, that says something.
M (USAA almost 40 yr member)

Budman

Yes, someone posted a link: http://en.wikipedia.org/wiki/USAA

brookwood

Direct deposits can be made to financial institutions in one of the countries on the SSA list.

The big clincher seems to be no Medicare benefits are available.

At any rate, I am glad the whole thing does not affect me at the moment.

Carrybean

I thought I read on a Mexico ex-pat forum a couple years ago that the US government was considering allowing Medicare benefits outside the Us. Must have fallen through. Too bad since medical care in Mexico is so much cheaper.

kswl

Hi Carrybean---there was a very interesting article in Time magazine a few weeks ago on medical tourism. . . underinsured US citizens getting a bargin operation/posh hotel suite combo in places like Thailand.

Carrybean

I didn't see that but I've heard that there is excellent medical/dental care to be had down there at a fraction of the cost by well-trained doctors so it's too bad Medicare won't cover the care for the ex-pats living there.

LadyOLeisure

I'd expect they are living on more than just SS. Find a financial planner to work with before you make many plans!

kerouac

My mother gets her social security payment sent directly to her French bank account. Unfortunately, the same is not true for her federal survivor benefits -- that cannot be transferred directly yet, so it is still going to a bank account in the US.

jean253

Just have your ss check sent t your regular bank in US & use an your A T M or buy goods with a credit card attatched to that account.

LoveItaly

I have read if one does move outside of the US they should still keep at least a US checking account and US based credit cards so they will continue to have credit references. That makes sense.

blackduff

My Soc.Sec. check is deposited directly to the French bank. Of course the Dollars are converted to the current rate for Euros. It works fine for me and the check is in the account on-time.

I cannot use Medicare, since I live outside of the US, but I don't have to pay the charges.

If you're living outside the US, make sure it's an acceptable country which is listed on the Soc.Sec. site.

The deposit of the checks was changed recently. Before it had to be sent via the mail.

Blackduff