Physical Address for banks and health care

[chindog]

Well, the good news is we closed on the sale of our house yesterday, so we now have nothing to tie us down from our full time lifestyle. However, we are are now running into problems since we don't have a physical address.

 

We chose to use Passport America mail service in Crestview, FL, primarily because that address gave us the best rates on health care plans available through the healthcare marketplace for 2017. We have an actual physical address with them, with a number after the address to designate our mailbox. But, today when we were trying to update our address for our various financial accounts, we have run into a brick wall. The financial institutions won't accept our mail forwarding address as an actual physical address. It seems they recognize the address as a mail forwarding service. We don't have relatives in FL, so we can't come up with any other addresses to use as a primary physical address.

 

How do other full timers handle getting an address changed to a mail forwarding service for credit cards, banks, etc.? (I've also heard that healthcare.gov will not accept a mail forwarding address as a physical address for getting health care coverage assistance).

[rynosback]

I got my banks to change with no problem. The real problem came with 401 & 403 retirement plans. You can thank the Patriot Act. So I have them under one of my family's addresses. Sucks as I tried to do this on the up and up. Getting your drivers license with you mailing address should help, as you then have a government ID with your prof of residency.

 

Health insurance was not an issue, but I get mine through a pension.

[Vladimir]

Has anybody tried getting a PO Box in a small town and using the address of the post office??

 

There are LOTS of towns in this country with ONLY PO BOXES for mail.

 

I do know that small town postmasters are very service oriented.

[skp51443]

A PO box won't do for a physical address, only for a mailing address. To go along with they they will want a non-commercial address.

 

Many mailing services have arrangements to provide that type of address for you. I believe the Escapees mail service does that for folks using the Florida option, call them and see if switching will solve your problem.

[Zulu]

We chose to use Passport America mail service in Crestview, FL, primarily because that address gave us the best rates on health care plans available through the healthcare marketplace for 2017. We have an actual physical address with them, with a number after the address to designate our mailbox. But, today when we were trying to update our address for our various financial accounts, we have run into a brick wall. The financial institutions won't accept our mail forwarding address as an actual physical address. It seems they recognize the address as a mail forwarding service. We don't have relatives in FL, so we can't come up with any other addresses to use as a primary physical address.

 

You've run into the Patriot Act. If you don't have a physical address, you can use a relative or "another contact individual" address. I don't think the law specifies that your relative or contact has to be in your domicile state. See page 480 "Customer information required" in the this regulation.

 

 

I've also heard that healthcare.gov will not accept a mail forwarding address as a physical address for getting health care coverage assistance.

 

I believe you've heard wrong. You can be homeless and sign up for an ACA ("Obamacare") health plan. See "Home Address" under STEP 1 in the online ACA application form.

 

BTW, state residency/domicile requirements are NOT the same as residence requirements for ACA health plans. The ACA is more concerned where you physically reside.

[Kirk W]

There have been discussions of this before and at least some financial institutions will allow you to supply a physical address of a relative as a contact point and your mail service for the sending of their mail. That problem all came about after we were on the road and so we never bumped into it, but many others have. One question that you can ask of them which may help is, "Do you want to keep my business?" This sort of issue comes often from the business not really understanding the law and because full-time RV folks are so few that they never bother to do anything about the problem.

 

The Bank Secrecy Act requires all banks to implement procedures to require records that will allow security in knowing and reporting all large funds movements by ownership and source. They must also keep verifiable addresses of all account holders. The law does not state how that is to be done but the easiest way for them to comply is to require customers to prove that they have a physical address where one can be traced to or from. While mail services could comply with the legal requirements, that takes more work on the bank employee's part and there are very few customers who do not have a physical address, so many financial institutions just require a physical address and don't worry about the few customers that are lost because of that. Some banks have procedures that allow for other means of tracing an account holder but the employees deal with the problem so seldom that they don't know how and really don't care. It is very possible for them to comply for a fulltimer who has only a mail forwarding service but it also requires some extra effort and finding one who is willing to make that effort can be difficult. One of the reasons that Livingston, TX remains so popular with fulltimers is that it is probably the only town in the country where pretty much every business person understands the RV fulltimer and makes efforts to attract our business. There are some institutions that will work with you, but it may take some digging to find them.

[LFDR3116]

Did you try changing your address online? (Secure log-in to your account - services ). Sometimes it's easier to deal with computers than people. If you haven't tried this, give it a go. That's how we did our and no problems. No PMB in the address though.

[Second Chance]

Have had zero problems with banks, retirement plan admins, Army retirement system, Tricare (including Express Scripts), IRS, TSA, or any other institution or business using our Escapees mail address. We simply put our Escapees mail number after the Rainbow Drive address using the pound sign (#). A few computer systems have required "No." rather than the pound sign, but I'm sure that's a programming issue. To the business or institution, it just looks like an apartment number.

 

Rob

[tinstartrvlr]

I agree with what Kirk said. I really wish the banks would take a closer look at the regulation...I honestly believe they really don't understand it very well. Or maybe I don't understand it, but this is how I see it.

 

Would like to hear what others think about my interpretation, as I plan to use it if I ever have a problem.

 

With regard to the part about addresses, here is what the regulation says.

 

"....the following information from the customer prior to opening an account: Name, Date of birth, Address, which shall be:

 

(i) For an individual, a residential or business street address,

 

(ii) For an individual who DOES NOT have a residential or business street address, (fulltimers basically), an APO (or) FPO, (or) the residential or BUSINESS STREET ADDRESS of next of kin, (or) OF ANOTHER CONTACT INDIVIDUAL; "

 

Seems to me that the employees of the mail forwarding service are CONTACT INDIVIDUALS, AT A BUSINESS STREET ADDRESS, who know where I am nearly all the time since they have to forward mail.

[chindog]

Did you try changing your address online? (Secure log-in to your account - services ). Sometimes it's easier to deal with computers than people. If you haven't tried this, give it a go. That's how we did our and no problems. No PMB in the address though.

 

 

I agree with what Kirk said. I really wish the banks would take a closer look at the regulation...I honestly believe they really don't understand it very well. Or maybe I don't understand it, but this is how I see it.

 

Would like to hear what others think about my interpretation, as I plan to use it if I ever have a problem.

 

With regard to the part about addresses, here is what the regulation says.

 

"....the following information from the customer prior to opening an account: Name, Date of birth, Address, which shall be:

 

(i) For an individual, a residential or business street address,

 

(ii) For an individual who DOES NOT have a residential or business street address, (fulltimers basically), an APO (or) FPO, (or) the residential or BUSINESS STREET ADDRESS of next of kin, (or) OF ANOTHER CONTACT INDIVIDUAL; "

 

Seems to me that the employees of the mail forwarding service are CONTACT INDIVIDUALS, AT A BUSINESS STREET ADDRESS, who know where I am nearly all the time since they have to forward mail.

 

We did get the online update on one of our credit cards to accept the street address of the mail service as the residence address, and the same address with the PMB number added as the mailing address. And, one of our credit unions had no problem changing our address to our PMB, and that was a clerk over phone that made the change for us.

[Biker56]

Passport America mail service.

 

Will I be able to use my new address to establish residency in Florida?

Yes. We provide each member with a unique physical address which can be used to obtain a driver's license, vehicle registration, and setting up a bank account. As all of this will take time and careful planning, a trip to Crestview, Florida will be necessary.

 

 

The financial institutions won't accept our mail forwarding address as an actual physical address. It seems they recognize the address as a mail forwarding service.

 

Just drop your financial institutions and move to a Florida Bank Of America. They have a good Visa card that gets you cash back of 3% on gas/diesel, 2% Grocery's and 1% everything else.

[chindog]

Passport America mail service.

 

Will I be able to use my new address to establish residency in Florida?

Yes. We provide each member with a unique physical address which can be used to obtain a driver's license, vehicle registration, and setting up a bank account. As all of this will take time and careful planning, a trip to Crestview, Florida will be necessary.

 

 

Just drop your financial institutions and move to a Florida Bank Of America. They have a good Visa card that gets you cash back of 3% on gas/diesel, 2% Grocery's and 1% everything else.

 

Great idea! Thanks. Cash back is always welcome!

[LFDR3116]

We have not had a problem with anything in 5 + years either.

[HSVBamaBob]

Another option for Veterans (or children of Veterans) is USAA Bank.

 

They are a full-spectrum financial institution and, since they really do not have a physical address (OK they have one in TX, and one in VA but that is it!)they understand the military and our mobility; ergo even PO Boxes are often acceptable to them (they adapt to APO/FPO automatically and can do so to PO boxes when contacted directly and the situation explained.)

 

Granted, there has been the occasional need for a physical address (surprisingly, Amazon Prime in order to get 2 day shipping on some items!)

 

As for a forwarding service, we have not used one - YET - we are still working until DEC 2017. Before then, however, we will need to set up a forwarding service and a domicile address. Is there someplace on the forums where the pros and cons of the various services and locations have been discussed?

[docj]

I agree with what Kirk said. I really wish the banks would take a closer look at the regulation...I honestly believe they really don't understand it very well. Or maybe I don't understand it, but this is how I see it.

 

Would like to hear what others think about my interpretation, as I plan to use it if I ever have a problem.

 

With regard to the part about addresses, here is what the regulation says.

 

"....the following information from the customer prior to opening an account: Name, Date of birth, Address, which shall be:

 

(i) For an individual, a residential or business street address,

 

(ii) For an individual who DOES NOT have a residential or business street address, (fulltimers basically), an APO (or) FPO, (or) the residential or BUSINESS STREET ADDRESS of next of kin, (or) OF ANOTHER CONTACT INDIVIDUAL; "

 

Seems to me that the employees of the mail forwarding service are CONTACT INDIVIDUALS, AT A BUSINESS STREET ADDRESS, who know where I am nearly all the time since they have to forward mail.

 

In six years of full-timing and using a SD mail service address, we have had exactly one financial institution question our address. And once we provided them our daughter's address they were quite happy. If you have a financial entity that won't accept an alternate address then change banks or investment company. They aren't unique IMO.

[jbh]

I've had two financial institutions give me a problem.

 

One I just gave my previous street address and they went away happy. The other wouldn't accept my current PMB as opposed to my previous PMB. So I just left the residential address as my previous PMB and made my current PMB my mailing address. Odd.

 

This reminds me of when I registered an inflatable boat. DMV demanded a builders certificate. DMV demanded a hull number. I took my inflatable boat into the DMV office and blew it up...and left with my registration.

[RV fan]

I opened a Wells Fargo account last year in AZ using my Florida St Brendans Isle address. A few weeks later they called and said that I could not use that address. Fortunately, I have an adult child in FL and gave them that address and they will keep my St Brendans Isle address for all mailing.

Good luck,