I would like guidance on whether it is legal for a US bank to prevent me from transferring money from my US bank account to a bank account I own in another country while I am residing in that other country. The bank claims that the only way to do such a transfer is use a third party (expensive alternative) or else I have to be present in person at one of the bank branches in the US to initiate the transfer. If there is a way, is there a limitation to the amount I can transfer?


Answers provided by Chilina Law Firm:

Typically, banks will have their own individual set policy with respect to what is required to complete transfers of money either within the U.S. or internationally. These policies may differ depending upon where you are sending the money, internationally. I am a bit surprised that the bank would require your physical presence in a branch in order to transfer money outside of the U.S. However, that could be that bank’s particular policy. You probably have a few options. First, you could talk to your current bank and find out if they offer online banking services that allow sending international wires (quite a few banks have this service). If so, you could setup such an online banking product and, while aboard and with internet access, you should be able to conduct the internal wire. However, if your current bank does not offer this product, then you could find a new bank which does or which does not require your physical presence to send a wire internationally. Good luck!


Source – Here