UPS Store and Wells Fargo address issue now

[jims94vmx]

We have been full time over 5 years. No physical address, been using UPS store PMB as our legal domicile. (Similar to America's mailbox South Dakota I believe )

About a week ago we had an email and prompt on my Wells Fargo app concerning out non physical address. PO boxes and PMB are not allowed now. We explained we are full time traveling.

No Joy as they say. What are you other full timers doing?

 

[darsben]

Have you no relatives?

 

[jims94vmx]

We do, but for those that do not? Hoping someone on this forum was able to navigate this without changing anything. There are hundred of thousands full timing I would guess.

 

[RRR]

Well personally I would tell WF to put it where the sun don't shine. But I know that might not work for you.

 

[jackiemac]

We have a Bank of America account using UPS Store but it doesn't show as a po box rather an address and suite no.

 

[Gary RV_Wizard]

Federal banking & tax regulations require banks to have a traditional physical address for their records. That's been a requirement for decades, but in the past few years enforcement of the address regs has been stepped up. Rather than run afoul of the feds, many banks have become extra strict about the addresses they will accept as the "address of record". You can still have statements or whatever sent to some other address, but they need a physical location on file to satisfy the gov't regs. [The reasons for this is arcane, but has to do with preventing money-laundering schemes] See How To Deal With No Physical Address for Bank Account [3 Solutions] - Count Money

I don't know of any bank, even "digital" ones, that are not enforcing this rule. There are some agent services that provide physical addresses, e.g. attorney's offices, and I recently read about a scheme where a mail service actually leases you a few square feet of their property so that you have a legal right to that address.

 

[Mark_K5LXP]

Escapees (and I'm sure others) offer domicile/mail services. A buddy of mine was a "resident" of south dakota for a long time.

Mark B.
Albuquerque, NM

 

[Tulecreeper]

While most RV parks won't allow you to use their address as a mailing address because they don't want to get swamped with hundreds of mailings every day (I don't blame them), many of them will let you use their address for parcel delivery like FedEx and UPS. If you are living full time at one particular park you could use that address as your physical address and just get a local PO Box for your mailing address.

 

[jims94vmx]

We travel and work....so a campground will not work. Thanks for any thoughts.

 

[Ray-IN]

Federal banking & tax regulations require banks to have a traditional physical address for their records. That's been a requirement for decades, but in the past few years enforcement of the address regs has been stepped up. Rather than run afoul of the feds, many banks have become extra strict about the addresses they will accept as the "address of record". You can still have statements or whatever sent to some other address, but they need a physical location on file to satisfy the gov't regs. [The reasons for this is arcane, but has to do with preventing money-laundering schemes] See How To Deal With No Physical Address for Bank Account [3 Solutions] - Count Money

I don't know of any bank, even "digital" ones, that are not enforcing this rule. There are some agent services that provide physical addresses, e.g. attorney's offices, and I recently read about a scheme where a mail service actually leases you a few square feet of their property so that you have a legal right to that address.

I agree. Those businesses show up as, of all things, a business address instead of a
Bank mail cannot be forwarded(that same law) either.
I found the best option is to go paperless and receive my bank statements and other stuff on the bank website.

 

[jackiemac]

Bank might accept a UPS if you provide an additional residential address. We gave them our UK address too....

 

[SargeW]

B of A did that to me several years ago. I was trying to update the address when we sold our last house. They refused to take the address of our mail service as they recognized it as a mail forwarding business.

So I left the old stick house as a home address, and just changed the mailing address. I have been doing electronic banking for years, so I never got any mail there. Electronic statements, all email updates and notifications. They never asked and didn't care. I did it for years until we wound up buying a place in AZ. And for years I still kept the SD mailing address as we traveled most of the year anyway. Sometimes you just have to play by their rules, and make them work for you.

 

[jims94vmx]

Thanks everyone. we have been paperless as well so probably going with family members address.

 

[Kirk]

About a week ago we had an email and prompt on my Wells Fargo app concerning out non physical address. PO boxes and PMB are not allowed now. We explained we are full time traveling

You are getting some bad information. The law does allow for an alternate address with a close family member and the mail service for your regular mail but any financial employees do not know and are reluctant to do what is needed. There are several people that we know who are fulltime and who bank with Wells Fargo, just as we did when fulltime. If you happen to be a member of the Escapees RV Club, their business office can help you as they have many times over the years.

 

[stripit]

When we full timed and had a mail forward service in South Dakota instead of using the number they assigned, like 445 we made it say Apartment #445. Never had any issues with the mail not getting to our box.

 

[jims94vmx]

Not a mail delivery problem. A physical address problem....

 

[Gary RV_Wizard]

Not a mail delivery problem. A physical address problem....

Right. You are required to have a verifiable physical address on the account. You don't have to have your statements or whatever mailed to that address, but some physical address is required.

 

[Steven L]

Right. You are required to have a verifiable physical address on the account. You don't have to have your statements or whatever mailed to that address, but some physical address is required.

Thank you Patriot Act.

Most all of the big banking concerns in this country have been bearing down on this provision finally after a few years of turning a blind eye to it.

It's your dear Uncle Sam who is finally cracking the whip to bring them all inline.

We hope to find a smaller local bank or credit union once we move our residency to South Dakota that will be willing to work with us on this, but I'm doubtful we'll have much luck.

Most likely we will instead just shift all of our banking activities to our brokerage, since we may have little need for an actual S&B bank in the future.

 

[LarsMac]

Many Post Offices have a valid street address, which can be used for delivery of such things as FedEx and UPS, and can also be used for Driver's License and such - even voter registration.
We have been using our PO Box street address (EX: 200 west Central Ave, Unit 1213, City, ST zip#) since long before we bought the Sundancer. The Post Office will weekly forward your mail to wherever you are, or are going to be (For a Fee) USPS Forwarding services

 

[Steven L]

Many Post Offices have a valid street address, which can be used for delivery of such things as FedEx and UPS, and can also be used for Driver's License and such - even voter registration.
We have been using our PO Box street address (EX: 200 west Central Ave, Unit 1213, City, ST zip#) since long before we bought the Sundancer. The Post Office will weekly forward your mail to wherever you are, or are going to be (For a Fee) USPS Forwarding services

All may be true in some states, but this has nothing to do unfortunately with the topic at hand as detailed in the OP. Every Post Office in this nation has an actual valid street address, so that's nothing new.

Try opening an account at a bank with just P.O. Box # or USPS street address and see how far you get these days.

If you are successful, it's only due to the fact that the bank employee who opened the account somehow skirted or ignored the laws governing requiring a legitimate street address, or wasn't aware of the requirement as is lawfully written.