What is the best savings plan?

I also had a look at the site and ran into the same problems.

It also asks for US driving license details. I haven't had a US license for donkey's years. I know this has to do with increased security after the hacking incidents, but does anyone know whether or not there is a way around it? Surely there are people in the US who don't have a driving license.

I have no intentions of investing any funds in the US, but was just curious.

Sounds like it is near on impossible to open an account from overseas. I opened my account  back in 2002 in Baton Rouge and certainly didn’t update my driving licence details either when moving to Texas in 2004 or back to England in 2016. I did update my address to be that of my daughter in California and my phone number to be my US Skype number.

Although mine and my wife’s accounts are still active (I used them this year to get our 2017 1099’s) neither of us have any money there, having cashed in all the bonds while buying a house.

I also had a look at the site and ran into the same problems.

It also asks for US driving license details. I haven't had a US license for donkey's years. I know this has to do with increased security after the hacking incidents, but does anyone know whether or not there is a way around it? Surely there are people in the US who don't have a driving license.

I have no intentions of investing any funds in the US, but was just curious.

The driving license details were not compulsory, so I left those blank.

I abandoned my application, though, because I think I'd rather keep my savings over here.  I have no intention of moving back to the US permanently, no matter what happens to me or my husband, so I don't see the point in having my savings tied up in USD with uncertain exchange rates in the future.  I'd like to be sure of my net worth.  No surprises when I need the money.

Hmmm. I wonder if my personal mailbox address would work...

Who Can Buy US Savings Bonds?

Corporations, associations, public and private organizations, fiduciaries and of course individual citizens can own U.S. savings bonds.  U.S. Savings Bonds are issued to anyone who meets any of the following criteria.

    Resident of the United States
    Citizen of the United States and living abroad (must have a U.S. address on record however).
    Civilian employee of the U.S. (regardless of your residence).
    A minor, unlike many other investments and securities, minors may legally own U.S. Savings Bonds.

Savings Bonds are non-marketable securities, which means they cannot be sold from one investor to another.  All purchases and sales of Savings Bonds must be done through the U.S. Treasury department.

Hmmm. I wonder if my personal mailbox address would work...

Who Can Buy US Savings Bonds?

Corporations, associations, public and private organizations, fiduciaries and of course individual citizens can own U.S. savings bonds.  U.S. Savings Bonds are issued to anyone who meets any of the following criteria.

    Resident of the United States
    Citizen of the United States and living abroad (must have a U.S. address on record however).
    Civilian employee of the U.S. (regardless of your residence).
    A minor, unlike many other investments and securities, minors may legally own U.S. Savings Bonds.

Savings Bonds are non-marketable securities, which means they cannot be sold from one investor to another.  All purchases and sales of Savings Bonds must be done through the U.S. Treasury department.

It may well work, I’ve watched a documentary on folks who are perpetual travelers and once met a couple in a National Park who had sold their home and bought an RV when they retired and for several years had traveled the US and Canada with only a postbox as an address. Each time they arrived somewhere for several weeks they contacted their mail forwarding service to have their mail sent on.

Sounds like it is near on impossible to open an account from overseas.

In the last 20 years it's turned into a real catch 22.

While UK banks/building societies will allow a UK resident USC to open basic accounts, SEC rules plus FATCA mean most UK brokerages and others (NS&I for example) won't go near a USC client. S&S ISAs are available, but with horrendous tax rate/tax reporting consequences.

For the expat without an existing account in banking or brokerages in the US, opening new accounts from abroad are nearly impossible.

The result is the basic savings account in the UK or a cash ISA, or be prepared to do a lot of self preserving 'fibbing'.

It may well work, I’ve watched a documentary on folks who are perpetual travelers and once met a couple in a National Park who had sold their home and bought an RV when they retired and for several years had traveled the US and Canada with only a postbox as an address. Each time they arrived somewhere for several weeks they contacted their mail forwarding service to have their mail sent on.

Yeah, we actually knew some folks who did that. He semi-retired, and used to connect with his clients via satellite phone (when necessary). They had the biggest pickup truck I've ever seen, and hauled around a monstrous trailer that, when they stopped, they'd push a button and the living room would automatically sort of extend out. Had everything in that trailer you could want - full-sized couch, color tv, full kitchenette (with dishwasher), bathroom with shower, separate bedroom with a full-sized bed. Was pretty amazing. They had their mail forwarded along their route - they were snowbirds, so they went south/west in the winter and north (and the reverse in the summer).

Ok, so I tried using my PMB in Houston. It created an account for me, but said they could not verify my identity and sent me a link to a form I'd have to take into a financial institution to get witnessed. A USA financial institution.

So, I sent them an email saying I was overseas temporarily and was there some other option for getting it witnessed, since they specifically stated a Notary Public was not sufficient. This was the response:

"Hello xxxx,

Acceptable certification outside the U.S. are:

Seal of a United States Embassy

Or any of the following from a financial institution affiliated with the U.S.

•      Signature/endorsement guarantee stamp/seal

•      Medallion stamp (must be accompanied with a live signature of the officer)

•      Official bank stamp/seal

•      Corporate stamp/seal

•      Issuing/paying agent stamp/seal including name, location, and 4-digit identification number, i.e. "Paid" Bond Stamp used by financial institutions for the redemption of U.S. Savings Bonds

Sincerely,

xxxxxx

Treasury Services"


So, there's no embassy on this end of the island, I don't think. There's a consulate in Edinburgh that will charge $50 to stamp most documents. I haven't a clue about "financial institution affiliated with the US".

Probably would have done better if I'd put my old address in the form.  Oh, well, they don't seem to want to sell their bonds very badly.