Citi for banking and investments for expats

[Milhouse]

I'm searching for a bank that has locations through much of the world, but is US based, so that I can handle my banking needs no matter where I go.

So far, I've really only found Citi. If I use them, I'll likely roll over some retirement money to their Smith Barney arm so that I can easily manage everything from one place.

Three questions:

1) Any other banks I should consider? (should have extensive locations throughout Latin America as well as locations in the US, and offer online banking, paperless statements, and free online bill payment)

2) Any good or bad experiences using Citi checking/savings accounts?

3) Any good or bad experiences using Smith Barney for retirement investing?

 

[v0rtex]

HSBC? Not US-based, but definitely all over the place. I used them a few years back and they were pretty good.

 

[Trilby]

I've found HSBC to have a more joined up approach to international banking. Citi has operations everywhere, but the different countries often don't speak to each other.

A big factor is if you qualify for one of the "mass affluent" products (Premier at HSBC or Citigold at Citi). That will definitely help grease the wheels. One of the official benefits of HSBC Premier is that if you move to another country, they will help set you up with an account there. Sounds pretty basic, but in the past it's been extremely hard for expats to set up banking. Citi is only now beginning to roll out a similar program.

 

[Milhouse]

Thanks for the replies. I guess the thing I'm stuck on is that I'll have both US based bills to pay, and I'll obviously need money in other countries as well. Will that mean I should just get two checking accounts? One in USD and one in local currency?

 

[grimslade]

You can access your money in your U.S. account from many countries in the world via ATM, whether your bank has branches there or not. If you need to pay bills and other things in another country, you'll need accounts in both places. If you're going to be there for a considerable length of time, it's nice to have anyway.