It’s Your Money > Banking

Patriot ACT (physical address for banking)

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MotorSarge:
I read a previous post I seen stated "No More Bank Accounts for Foreigners In PI".

So the Patriot Act requires banks and other financial institutions to have a physical address on file that is not a mail forwarding address. This is a security measure to combat fraud and money laundering. You can still use your mail forwarding address as your mailing address, but it’s a good idea to have the address of a friend or family member to use for your physical address. If you use a mail forwarding address and they find out, you could wake up one day to find that your accounts are frozen.

What is the loophole if you don't have family or friend for a physical address for banking purposes in the US?

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