What you need to know before you start
Opening a bank account in another country is possible but slower and more document-heavy than opening one at home. Most banks outside the US will not open an account for a non-resident without being physically present, though some have workarounds. You will need a valid passport, proof of address (usually from your home country), and often a minimum deposit that ranges from a few hundred to several thousand dollars depending on the bank and country.
The real barrier is not whether banks will take you—they will—but which ones will take you without requiring you to visit in person, and what that actually costs in time and fees. A local bank in the country where you live or work may have different rules than an international bank with branches worldwide. Some countries make it straightforward; others have strict rules about who can hold accounts and require you to prove tax residency or work status.
Key Takeaways
- Most banks require you to open an account in person at a branch, which means you need to be physically present in that country.
- International banks and fintech companies sometimes allow remote account opening for non-residents, but they charge higher fees and have stricter minimum balances.
- You will need a valid passport, proof of address, and often proof of income or employment to open any account outside your home country.
- Some countries require you to prove tax residency or have a local tax ID number before a bank will open an account for you.
- The time from process to account opening ranges from one week for fintech companies to four to eight weeks for traditional banks.
Banks that allow remote account opening for non-residents
A small number of banks and fintech companies will open accounts without requiring you to visit a branch. These are not the cheapest option, but they are the only option if you cannot travel to the country.
Wise (formerly TransferWise) is a fintech company that holds money in multiple currencies and lets you transfer between them at the real exchange rate. You can open a Wise account from anywhere using your passport and proof of address, and the account is active within days. Wise is not a traditional bank—it does not offer loans or credit—but it works well for holding money, receiving international transfers, and paying bills in other countries. There is no monthly fee, but you pay a small percentage on currency conversions.
Revolut is another fintech that operates in most of Europe and some other regions. It offers multi-currency accounts, debit cards, and the ability to hold money in dozens of currencies. You can open a Revolut account remotely using your phone, and the card arrives within one to two weeks. Revolut charges a monthly fee for premium accounts, though the basic account is free.
N26 (a German bank) and Bunq (a Dutch bank) both offer remote account opening for non-residents in Europe. Both require an EU address or proof of residence in their operating countries, so they work if you are moving to or already living in Europe but not if you are explore from outside the region.
Traditional banks rarely open accounts remotely for non-residents. If you contact HSBC, Barclays, or similar international banks, they will usually tell you that you must visit a branch in person or that you need to be a customer at another branch of the same bank first.
Opening an account in person at a local bank
If you are moving to or already living in another country, opening an account at a local bank is usually cheaper and gives you more options than fintech companies. The process is straightforward but requires you to be at a branch.
Walk into a branch with your passport, proof of address (a utility bill, rental agreement, or letter from your employer), and proof of income if the bank asks for it. Some banks will also ask for a tax ID number from that country, which you may need to obtain first from the tax authority. In many countries, you can get a tax ID on the same day or within a few days by visiting the tax office or explore online.
The bank will give you forms to fill out, take copies of your documents, and tell you when your account will be ready. This usually takes three to five business days. You will receive a debit card in the mail one to two weeks later. Some banks charge a monthly fee (typically €5 to €15 or the local equivalent); others charge only when you use certain services like international transfers.
If you do not yet have a proof of address in the new country—because you just arrived or are still arranging housing—ask the bank whether they accept a letter from your employer, a hotel booking confirmation, or a temporary address. Many banks will accept these temporarily and ask you to provide a utility bill within 30 days.
What documents you actually need
The exact documents vary by country and bank, but these are the ones almost every bank will ask for:
| Document | What counts | Notes |
|---|---|---|
| Passport | Valid passport from any country | Must not be expired. Some banks will accept a national ID card instead if you are in Europe. |
| Proof of address | Utility bill, rental agreement, or letter from employer dated within the last three months | Must show your name and the address where you currently live. If you just arrived, a hotel booking or temporary address letter from your employer may work. |
| Proof of income | Recent pay stub, employment letter, or tax return | Not always required, but some banks ask for it. If you are self-employed, you may need to show business registration or recent bank statements. |
| Tax ID | Tax identification number from that country | Required in some countries (Germany, Spain, France) but not others. You can usually obtain one from the tax authority within days. |
If you are explore remotely through a fintech company, they will ask for a photo of your passport and a selfie holding your passport. Some will also ask you to upload a photo of your proof of address.
Minimum deposits and account fees
Minimum deposits vary widely. Fintech companies like Wise and Revolut have no minimum deposit—you can open an account with zero balance and add money later. Traditional banks usually require a minimum deposit of €500 to €2,000 (or the local equivalent), though some have accounts with no minimum for basic checking.
Monthly fees for traditional bank accounts range from nothing to €15 per month, depending on the bank and account type. Premium accounts with higher limits or additional services cost more. Fintech companies charge no monthly fee for basic accounts, though premium tiers cost €5 to €15 per month.
Both traditional banks and fintech companies charge fees for international transfers. A typical international transfer costs €5 to €25 plus a percentage of the amount (usually 1 to 3 percent). Wise charges a lower percentage (usually under 1 percent) but may charge a small fixed fee depending on the currency pair.
Tax residency and why banks ask about it
Some countries require banks to verify that you are a tax resident before opening an account. Tax residency is not the same as legal residency—it is based on where you spend most of your time and where you have economic ties (like employment or property).
If a bank asks whether you are a tax resident of that country, answer honestly. If you are not yet a tax resident but plan to be, say so. If you are a tax resident of another country, you may need to declare that as well. Banks ask because of international tax reporting rules (FATCA in the US, CRS in most other countries), which require them to report account holders to tax authorities.
If you are moving to a new country and are unsure about your tax residency status, contact the tax authority of that country before opening a bank account. They can tell you what determines tax residency and whether you need to register.
Frequently Asked Questions
Can I open a bank account in another country without visiting in person?
Yes, but only through fintech companies like Wise, Revolut, or N26, and only if you are in their operating regions. Traditional banks almost always require you to visit a branch. If you cannot travel, a fintech account is your only option, though it will have higher fees and fewer features than a local bank account.
How long does it take to open an account?
Fintech companies take one to three days from process to account opening. Traditional banks take three to five business days to open the account, plus one to two weeks for the debit card to arrive by mail. Some banks may take longer if they need to verify your tax status or income.
What if the bank asks for a tax ID and I do not have one yet?
You can obtain a tax ID from the country's tax authority before opening the account. In most countries, this takes one to five business days and can be done online or at a tax office. Some banks will open your account and ask you to provide the tax ID within 30 days if you do not have it yet.
Do I need to prove I have a job to open an account?
Not always. Some banks ask for proof of income, but many do not. If a bank asks and you do not have employment, you can show recent bank statements, savings, or a letter from a family member stating they support you. Fintech companies rarely ask for proof of income.
Can I use my home country address as proof of address?
No. Banks require proof of your current address in the country where you are opening the account. If you just arrived and do not have a utility bill yet, use a rental agreement, hotel booking, or letter from your employer. Most banks will accept these temporarily.