I'm an American citizen living in Germany. I currently still have USD held in a Wells Fargo checking account. I no longer have any USD income, however. This account is static. I intentionally have kept this money there to be able to A) hold USD (i.e. to purposely not convert all my cash into EUR) and B) pay for things easily in the US when this is occasionally necessary.
I want to put a large amount of this money into a low-yield, stable investment somewhere. Wells Fargo already offers a CD that I was planning to use. However, the official policy is that they don't support accounts of people living outside the US. My old US phone number is still associated with the account, for example, and I can't change the account's official phone number to a non-US one. I don't like keeping this account in "limbo" like this where I'm technically not supposed to have it anymore. This also makes me uneasy about using more of their services.
Is there another bank, or some other financial option (of any kind) that I can use to hold USD in a medium-to-long-term stable investment like a CD that I can officially use as an American residing outside the US? I realize the obvious answer people may give is "Buy securities/commodities", but I'd prefer something more stable like a high-interest savings account or CD. Though I could be convinced otherwise. Thanks.
Edit: I already have a Schwab account for stocks/ETFs but they won't sell me a CD, for example. Being a non-US resident seems to restrict what is offered you on many platforms. I assume this is because they're bought from US banks, who can't/won't sell to a non-US-residing person. The CDs are IBKR are brokered, and thus not FDIC insured. It seems like you have to reside in the US to use US banks' offerings. This is what confuses me, since I would assume that being a US Person/Citizen would be enough.
I'm not asking for specific product recommendations necessarily. I want to know what the typical (or, at least, a reasonable) strategy is for maintaining USD in a high-yield cash or a cash-like account when residing outside the US. Because it seems like options are limited.
