You may want to keep your account open if you have ongoing financial obligations in the U.S. such as a mortgage, children or family to care for, or a pension. If you will be transferring money to your international accounts, be mindful of fees that you may be charged. For example, to transfer money between your U.S. account and international account, you may be charged fees for both sending and receiving the funds, which can get costly.
If you want to keep your account open you have a few options in how to manage the account from your home country. You can:
- Manage the account yourself;
- Create a joint bank account; or
- Grant a financial or limited power of attorney so that the appointed person can manage the account on your behalf.
Note: A financial or limited power of attorney specifies the actions another person may take on your behalf. It differs from a custodial power of attorney that permits another person to care for your child; or a general power of attorney that allows another individual to handle all your personal business.