Establishing SD residency, Bank recommendations?

drjenk · February 19, 2020

Hi,

We are moving from WA, starting to full time RV, and have registered our SD residence address. I want to cut all ties with WA, and establish our banking in SD as well. What bank/credit union has worked for you all in SD? I'm looking into Black Hills Credit Union but thought I'd ask here what experiences you have all had with your financial institutions in SD. Thanks!

Barbaraok · February 19, 2020

No real reason to change banks unless you really dislike your current bank. If going to change, go with one that is found in most parts of the country, so that you'll be more likely to find a branch as you travel should you need it.

Pat & Pete · February 19, 2020

Barbara ^ is on the mark .

We became SD residents years ago and left all our banking at the Michigan credit union we'd used for years .

We've not seen any 'repercussions' .

Twotoes · February 19, 2020

Are you going to be a fulltimer? If so you want a bank that has locations almost everywhere you will travel. I do most of my banking online now but I keep my Wells Fargo accounts I had in CA. There is a Wells Fargo branch almost everywhere including one in downtown Rapid City. I just changed my address to the Escapees address but keep the same accounts.

sandsys · February 19, 2020

I don't understand the emphasis on location. We have banked with USAA in San Antonio for decades. We have never been inside that bank and they have no branches. We used to bank by mail; now we bank by phone or computer. When we need cash, we get it at the grocery store during checkout. What do you all do in person that you causes you to need physical locations?

Linda Sand

whj469 · February 19, 2020

I am cheap and will not pay ATM fees to get MY money. I keep Chase accounts in Texas that I have had for many years but because I spend summers in the UP of MI, I had to open and account at a credit union there. They have a system where you can use your ATM card at any credit union in the country without fees.

Pat & Pete · February 19, 2020

I don't recall ever paying any fees for cash , anywhere , in the 10 years or so that we've been full time .

Kirk W · February 19, 2020

2 hours ago, whj469 said:

I am cheap and will not pay ATM fees to get MY money.

My bank refunds any ATM fees that I get charged while traveling. They have done that for a long time now.

rynosback · February 20, 2020

We bank with Wells Fargo and Bank of America. Never had a problem getting cash.

drjenk · February 20, 2020

Awesome thanks all. For some reason I got the idea we had to change our financial institutions to "cut ties" with our old state, for domicile change reasons. We do like our current credit union, we'll just stay put for now. Thanks!

Kirk W · February 20, 2020

6 hours ago, drjenk@gmail.com said:

For some reason I got the idea we had to change our financial institutions to "cut ties" with our old state, for domicile change reasons.

There is no specific list of things that make you a resident or that define domicile. The only time it is a problem is when or if someone should challenge your domicile claim. In such a case the more ties that you have to the location that you claim as domicile, the better. I suggest that you read The Issue of Domicile, written by Shawn Loring.