Are you allowed to have a bank account from another state in which you don't reside?I want to start a bank account in IL and I currently live in MI. At some point in a few years I want to move to IL and would like to establish myself there with a bank. Is this allowed? | |
Banks do not not have residency requirements - so, yes, its perfectly legal.
However, if you open an account at a bank with a national presence you won't have to bother. That is, many large national banks will have offices and ATMs in both MI and IL.
Yes, it is allowed.
