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Any experience with Sable (US Bank)?

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offshoreforever

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Feb 24, 2021
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Hello.

I would like to know if anyone in this forum had the experience of having used a bank in the United States specially designed for foreigners, called "Sable".

Website: Sable Card.

It looks interesting, but I don't know of anyone who has used this bench. I have no references. And in the Play Store I see very few reviews.
 
Cant see how useful this would be if your not living in US. Also its‌ not a real bank it seems.

-------

Sable Money Inc.

*Banking services provided by Coastal‍ Community Bank, Member FDIC, pursuant to license by Mastercard International Inc.

Sable account is FDIC-insured⁠ up to $250,000 per depositor through Coastal Community Bank, Member FDIC.

----

You need to⁤ have a Residential US Address to open an account. This is a regulatory requirement. We⁣ will automatically ship your card to the address you provided.

If you are not a⁢ US citizen, we will ask for a second document. This will be the US visa︀ attached to your passport If you don't have a US Visa, that is probably because︁ you entered the US with a visa waiver (e.g. a TN Visa or an ESTA).︂ In this case, select the I-94 option and we will verify your visa waiver electronically︃.

--- end quote
 
Might be a decent option if you actually live in the US. Although opening a‌ credit card with any of the major banks in the US, even as a freshly‍ arrived foreigner, is not a problem if you can just show a credit card with⁠ decent limit from back home.
 
For all of us who︂ live in Latin America, believe me that a bank account in the United States is︃ a very desirable thing.

I understand that it is a digital bank, in the style︄ of N26.
 
The thing is, I am⁤ looking for a bank that is friendly to non-residents. I understand that the largest banks⁣ in that country (Wells Fargo, Bank of America, etc.) accept foreigners, but I read about⁢ some problems when those foreigners return to their country of origin. For example: for certain︀ operations they may ask you for an SSN or a US phone number. I know︁ that with Sable that would be very difficult to happen, because it is specially made︂ for foreigners.
 
But Sable specifically asks for a US visa to open your account. Do you have‌ that?
 
If a foreigner returns to their country of origin,⁤ of course the bank will cancel the credit card. Look at it from the bank's⁣ perspective. If a non-resident foreigner fails to pay the balance on a credit card, how⁢ can the bank possibly collect what is owed if the account holder does not live︀ in the U.S.? Why take that risk?

Even American citizens can have problems if a︁ bank discovers that they moved offshore (which is why it is a good idea to︂ change your address to a mail forwarding company before moving overseas and not to a︃ foreign address).
 
This is nonsense.

I have a US WellsFargo cc with an EU phonenumber︀ (so for some things you have -call- them as they have to manually insert you︁ EU phonenumber. Same with TD Bank, they also ship your cc to the EU.
 
Received my new WF card 3 weeks ago. So I must be very unique. Simple‌ facts need no logic.
 
You place a loaded gun‍ to your head and pull the trigger but nothing happens, perhaps because of a one-in-a-million⁠ misfire, and you then tell everyone that it is safe to do so -- based⁤ on your own singular experience.

That is the logic that you used here. You based⁣ your claim on anecdotal evidence. An anecdotal fallacy is a logical fallacy based on a⁢ factual claim that relies only on personal observation that is collected in a casual or︀ non-systematic manner.

As I stated previously, many expat forums have entire threads devoted to this︁ exact problem. It is always best to use a U.S. address and telephone number for︂ U.S. bank accounts, credit cards, and brokerage accounts.

During the next financial crisis, when banks︃ need to purge their high risk exposure, accounts with foreign addresses are likely the first︄ to go (because it is almost impossible to collect a debt from someone living in︅ another country). So, why take the risk of using a foreign address or telephone number?︆
 
If that is the case it may be the‍ reason for why OP disappeared again 😀

Wonder how many US based EMI's there are beside⁠ Mercury and which may accept Latin American's.
 
I'm a Sable user, after one year of using it their app still offering a‌ poor UI/UX and their support team is mediocre. The reason I still use it is‍ just to keep an iCloud account associated with an AppleID created in the US and⁠ because they don't charge any account fee.

If you're planning to use Sable try to⁤ don't do many transactions out of the country or they'll cancel your account due to⁣ excessive foreign fees (they waive those fees but Master card still charging them for those),⁢ I knew someone that got their account canceled due to this.

In the past I︀ was a user of Citibank and TD Bank, both banks were excellent but you're required︁ to have a minimum amount of money on the accounts to get fees waived (for︂ my Citi account was $1,000, for TD Bank was $2,500)
 
Thank you for tell me your experience.

Now I want to ask you the following︄ question, regarding making transactions outside the country: how would this be? I mean, you do︅ a lot of SWIFT transfers and they can cancel your account? Because I would think︆ of using it as a checking account, more than anything. To receive payments from US︇ (and non-US) customers who are banked in the US.

So far, I have been dealing︈ with Wise (ex-TransferWise). But I do not want to put all my trust in this︉ entity, because I know that they are known for freezing and deleting accounts, in the︊ style of similar entities such as Revolut, N26, Monese, etc. So I would like a︋ real bank to be able to charge for my work and once then leave it︌ there as savings, or spend it.

I only have interest in the United States to︍ vacation, not to live there. If you know a better bank that suits my situation,︎ welcome. I find Sable attractive due to its zero commission policy.
 
It is good to︅ know this in advance. So I can already know that maintaining an account there, whatever︆ the bank, it is always better to keep a phone number and a United States︇ address.

The address could be a post office, couldn't it? Or depending on the country︈ where you live, there would be no problem in leaving your real address of residence?︉
 
Sorry, my previous message was unclear, when I mentioned "out-of-country transactions" I was referring︆ to ATM withdrawals and payments with the debit card outside of the USA during a︇ prolonged period of time.

Your usage case seems to be fine for using Sable and︈ I guess using the account to send money of the account to your home country︉ occasionally (e.g monthly or bi-monthly) shouldn't raise any alarms on the Sable side neither.

I used Citibank and TD Bank for the purposes you described when living in LATAM and︊ I didn't have any issue other than being asked to leave some money parked in︋ the accounts to avoid paying the fees.
 
Now I understand better︁ what you meant.

Sure, I don't want to know anything about living in that country.︂ I'm not interested. But if it is nice to vacation occasionally, and logically it is︃ practical to collect a salary in dollars.

Anyway, just in case, I will keep at︄ least one phone number there. So as not to have problems... And if it is︅ necessary, I will leave an address there. The ideal is to always have the address︆ of your country, but when you cannot, you have to look for alternatives.

Thank you!︇
 
only possible because you had the accounts‌ with the other banks or is it standard procedure that they open accounts remote like‍ EU EMI's do?
 
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