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Ran in to a snag today with Fidelity


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Tried to open a new account with Fidelity today and I'm running into their bureaucracy around the Patriot act. I am currently using a mail service in FL and they don't like that address. I have my retirement accounts there that have been fine for the past several months but this new account threw up red flags. I Tried to use my nephew's address and they now want a utility bill in my name. Looks like I'm stuck looking for an investment house that does not have the same requirements. I'm assuming the Rainbow Drive address in Texas would have a similar issue? What are some alternatives? Please help!

You should contact the Escapee's office(888-757-2582, 936-327-8873), if you are a member of Escapees since they have done a lot in this area. I doubt that you will get much help if not a member since that is part of what our dues cover. The alternative address is a part of the solution and is not a secret so shouldn't be controversial. What I can tell you is that at least with the TX address, Escapee's address is more accepted for a long list of reasons but probably the main ones are that local businessmen in Livingston want the members as customers and the club has been very active in educating to investment agents in the area about the actual provision of the laws. I suspect that is also becoming true in SD & FL at least with the Escape's address service there.

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

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We are in the process of changing addresses and I've noticed something.

If you use either the Livingstone or Box Elder addresses they come up with a message "The US Postal Service does not recognize this as a valid residential address" or something similar

It drove me crazy until I put the box number in the next line down in the second line for the address on the various forms. After that I got no more rejections.

BnB

2009 Monaco Cayman DP 38'

bnbrv.blogspot.com/

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UPDATE

First of all I want to thank everyone for your input and attempts to help a fellow Full Timer. Escapees are the best!

 

I talked with a supervisor at Fidelity this morning and armed with the Patriot act information, was able to get them to accept the nephew's address. They want a copy of his utility bill to prove it is a good address and they want copies of our ID's and this should satisfy their requirements. However, I see this as a temporary fix because this ties us to the state of Georgia and we want either Florida or Texas as our domicile and we have no family there. I had the supervisor check the Rainbow Drive address and he said it should work since that is listed as an RV park. I would think Sumter Oaks would be the same so I will contact them today and explore the possibility of getting an address there. (Is there any compelling reason to select Texas over Florida?)

 

If the Escapees addresses don't work with Fidelity, then its time to look for another Financial institution that has different requirements.

 

Bill

2010 Tiffin Allegro Bus

2012 Honda CRV

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(Is there any compelling reason to select Texas over Florida?)

The only reason would be if there were some sort of legal issue which you have that arises because of a difference in TX laws when compared to those of FL. If we assume that you have already considered that possibility when you chose FL, I can see no reason why it might be true. While I happen to favor the business climate of Livingston, we all have personal preferences and that keeps us from all trying to crowd into one location, which seems like a good thing. Our main reason for choosing TX was that we expected to settle there when we left the road.

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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It should be a permanent fix. My next of kin address is in WA state, my mail forwarder in SD, and I am currently in FL. Zero issues since Trade King accepted the "next of kin".

 

Trade King sends all my correspondence via email, and they know my mail forwarder and legal domicile is in SD. All financial institutions are subject to the same patriot act rules and laws.

 

 

 

 

UPDATE

First of all I want to thank everyone for your input and attempts to help a fellow Full Timer. Escapees are the best!

 

I talked with a supervisor at Fidelity this morning and armed with the Patriot act information, was able to get them to accept the nephew's address. They want a copy of his utility bill to prove it is a good address and they want copies of our ID's and this should satisfy their requirements. However, I see this as a temporary fix because this ties us to the state of Georgia and we want either Florida or Texas as our domicile and we have no family there. I had the supervisor check the Rainbow Drive address and he said it should work since that is listed as an RV park. I would think Sumter Oaks would be the same so I will contact them today and explore the possibility of getting an address there. (Is there any compelling reason to select Texas over Florida?)

 

If the Escapees addresses don't work with Fidelity, then its time to look for another Financial institution that has different requirements.

 

Bill

Dan - SKP club member

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Good to hear the fix written into the law worked, sometimes it just takes a bit of persistence. The next of kin or close friend address is only for CIP compliance, it has nothing to do with the permanent address or state of tax for the account, that should remain your mail forwarding address. Make sure you made that clear, your kin's address is not the mailing or tax address for the account.

Jim

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(Is there any compelling reason to select Texas over Florida?)

 

Depends what side business you are engaged in. FL has a tough Seller Of Travel statute for those engaged in Travel and Travel Related Services. (FL and CA are the worst) while TX has no special registration requirements for sellers of travel & travel related services.

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