“Kathleen, I would like to find out how I can convert my retirement income into local currency (for example, the euro) as it comes in monthly and either put it onto a debit card or into an account.
“If overseas banks are so difficult to do business with, do I just have to convert my entire check to euro, or whatever, each month, or are there other options?”
— Dennis K., United States
First, overseas banks aren’t necessarily difficult to deal with. The challenge can be opening an account in the first place. Once you have an account, depending on the country and the bank, you can enjoy great customer service (as we do with Barclays in Paris, for example).
If you want to exchange your monthly income into the local currency in your new country of residence, you could open a bank account (which sometimes can be a challenge, as I said, but should be possible almost anywhere you have residency status).
Or you could open a currency account with your U.S. bank. This works for a hard-currency account only and is not possible with all U.S. banks. A third option is Everbank, which allows euro and British sterling accounts, for example.