Access US financial accounts from EU?

[Poeirenta]

The DD Ranchers are heading overseas for a 3 month trip and could use some help from the tech gurus here in the forum. We're not Luddites, but we don't really have a ton of tech know-how beyond the basics. Some of the info we've been finding online goes right over our heads...

Here are the two main things on our mind:

1. We need to be able to access QuickBooks online to keep up on some work stuff while traveling, and not sure if that will be possible if their system "sees" us coming from an EU location. We understand very little about VPNs so not sure if one would solve this particular issue.

2. Keeping at least one of our phone numbers in case two-factor ID is needed, say if we want to log into Vanguard or something. In the past we've gotten local sim cards, but that gives us a different number. DH has a phone that can use Google Fi, but not sure if that's the best option.

Also wondering about security with the above; we'll be using password protected wifi where we are staying but I'm sure there are ways to improve on that too.

Many thanks for your advice and recommendations!

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[reeshau]

I used Google FI for 6 months in Ireland, and it worked very smoothly.  I used a virtual phone number for 2 years before then (iPlum) but it doesn't sound like you would want to port one of your numbers, or set up yet another number for authentication.

I have no idea if QuickBooks would have issues accessing from overseas.  What does their FAQ say?  You could test it with a free VPN trial:  you can use a VPN to connect to the internet from any of the countries they operate in, not just the US.  So use it to connect to your destination country, and try using QuickBooks there.  There are some services that have more of a problem with the VPN protocol than your location, but if QuickBooks works on an outbound connection, then you can connect.  You may still want a VPN as an extra layer of security over a shared WiFi connection, eve if it isn't needed for connecivity.

[tarheeldan]

Careful with Google Fi, they've cracked down on people staying overseas. I would deactivate it when not needed

[RWD]

Careful with Google Fi, they've cracked down on people staying overseas. I would deactivate it when not needed

I wouldn't be too worried, sounds like the cutoff is around 6 months of international usage.

[tarheeldan]

Oops! I missed the 3 month thing,  facepalm

[Kwill]

Why don't you call Vanguard, explain your trip, and ask them about log in issues?

I'd also check with your bank(s) and make sure you'll be able to use your debit and credit cards and access your accounts from overseas. Sometimes if banks don't realise you're travelling, they'll freeze the cards until you go through extra identity verification, but if you're overseas without a working phone, that can be a pain. You may need to inform them in advance of which countries you'll be going through when.

[katsiki]

This may be overkill but you might consider a phone with dual sim card capability.  You can then keep your US sim installed and use it if needed; but use a local SIM otherwise.

Android option I am familiar with is Samsung J7.

[Rosy]

Secure access is the most important thing - then access to your accounts should not be a problem. You could get a Yubikey and use a two Sim card phone. You could have your 2-FA auth sent to a secure e-mail like protonmail (free for one month-3.99 or so a month).
If you use your e-mail and they want further verification you've got your phone with you.
I'm not a fan of mobile bank apps but I used them overseas whenever I didn't have secure access to a desktop on the road.

Also, having more than one bank account and more than one credit card in case something goes wrong is a must in my book. I would verify what mode of access is available internationally. Do they have an international phone access number or only a number in the US, is their chat 24/7 incl weekends.

Enjoy your trip!:) Safe travels...
 
 

[NorthernIkigai]

This may be overkill but you might consider a phone with dual sim card capability.  You can then keep your US sim installed and use it if needed; but use a local SIM otherwise.

Android option I am familiar with is Samsung J7.

Depending on your phone carrier, you can even do this with a phone that doesn’t have two physical SIM card slots. I have one actual SIM card in my phone, and have another line through something called an “e-SIM”. It works just as well as when I had two physical cards in my previous phone.

[flyingaway]

T-Mobile works (free text messages) in most of the countries that I have been to. The only exception in Europe was a tiny country Andorra. However, once you have WIFI in a hotel, then it works again.

[Kwill]

Also, having more than one bank account and more than one credit card in case something goes wrong is a must in my book. I would verify what mode of access is available internationally. Do they have an international phone access number or only a number in the US, is their chat 24/7 incl weekends.

This is such a good point. If you only have one card with you or only have cards from one bank, you could end up stuck with no easy way to access money or else have to go out of your way to get to the one place where you can use the card or maybe need to do credit card cash advances if the ATM card doesn't work but the credit card does. On the other hand, if you have a few different options, then at least one should work, and it won't be a big inconvenience.

In summer 2019, I did a big trip with my brother and sister-in-law and sister in Morocco and Spain, and it seemed like half the time we used an ATM, one of us would have an issue. It worked out because we were able to help each other and settle up the amounts later, but it would have been tricky if one of us had been alone with only one card.

[katsiki]

OP, if you decide to get a second bank account, the fidelity cash management account is great for international travel.  You might check it out.

[Poeirenta]

Thanks for the replies folks. Here's what I've learned so far.

Neither Chase nor Capital One require you to notify them of travel any more.

Our main bank doesn't allow the use of a VPN, but it sounds like our app should work regardless of where we are.

We have a Schwab account for travel; I hadn't really thought about adding another one but could look into that.

I think we are leaning towards getting FI for the trip and then switching back when we return since we don't have FI coverage here in the back of beyond. That way we should be able to get texts in case of 2FA. Although I suppose I could change the notification channel to email instead of phone where possible.

Planning for this long of a trip is definitely a different animal than the typical 3-4 weeks ones we've done before. @2Birds1Stone, what did you guys do when you were in PT?

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[2Birds1Stone]

Since we planned on traveling 12 months originally, we had a lot of contingency plans.

First of all, from a $$$ standpoint  we diversified our access to money. Between DW and I we did the following;

Each brought $1k in USD and $1k in Euro (Cash)
Each Opened Schwab Checking and SoFi Money Accounts (both don't charge foreign transaction fees AND reimburse foreign ATM Fees), we funded these accounts with $5k each (for a total of $20k spread across 4 accounts)
Each made sure to have two different Credit Cards that didn't charge foreign transaction fees (Hilton Amex and Cap One Quicksilver)
Then on top of that we had our regular debit card and and credit card from our local bank in case of emergency (they charge foreign transaction fees).

We were able to use the Schwab and SoFi debit cards in any ATM in PT and received up to $500/day each from each account if we needed it, in Euro, with no fees at basically the Forex exchange rate, which was better than exchanging at a money house or physical bank!

Using Credit Cards was also no problem, and the Capital One Visa was accepted everywhere, while the Amex was only accepted in specific stores.

We also paid for accommodation online through AirBnB, so the remainder of our spending ended up being <$1k/month anyway.

Some banks like Capital One let you verify your login to the website through the mobile banking app, but we never had to do that.

For cell phones, DW had ported her long time phone # to google voice and used WiFi exclusively while in PT. In Poland she got a local sim and phone plan which cost like $8/month for 10gb. I went an entire month in Portugal on WiFi only (it was glorious not having a phone/data in my pocket as an experiment for a month!), but then I caved and got a local 10gb prepaid sim for 20 euro, keeping my AT&T sim in case I needed to dual factor in an emergency. I think AT&T charges $10-15 per day if you use your phone abroad. So I took the sim out and kept it stashed in my backpack to swap incase absolutely needed to (never needed to).

As far as stuff like Vanguard and Quickbooks, I have no idea unfortunately.

[2Birds1Stone]

One more thing, in 2017/2019 with AT&T sim in my phone in Poland, I was able to turn on airplane mode on my phone, then turn on WiFi/WiFi calling and use my US number without being charged anything additionally. I'm not sure if this is still possible, but it certainly worked flawlessly as I made calls/txts over a 2-3 week period like this, never using actual cell signal.

[MustacheAndaHalf]

Neither Chase nor Capital One require you to notify them of travel any more.

Our main bank doesn't allow the use of a VPN, but it sounds like our app should work regardless of where we are.

I would expect banks don't know if you're using a VPN.  In my experience, sometimes financial institutions will time out when an international connection is used, but not a U.S. connection - both using the same VPN service.

Do you have alternatives to using phone numbers to get the authentication PIN?  Like "Google Voice", where you could get text messages or calls.  Many places allow security codes to be sent over email.  Public Wifi isn't secure, so any emails you receive over public Wifi might be viewable by anyone snooping.

I prefer two factor authentication by a dedicated device, like Yubikey.  There's also hardware tokens, like at IBKR.  Some banks or brokerages might also support phone apps that work with their login system.