How to Open a Bank Account Abroad
The Complete Expat Guide 2025
The document requirements, the chicken-and-egg traps, country-by-country bank picks, and why Wise should be your first move before anything else.
Opening a bank account abroad is one of the first real tasks after landing — and one of the most frustrating. Banks want proof of address to open an account. Landlords want proof of a local bank account to sign a lease. Visa applications want proof of local accommodation. It's a three-way deadlock that trips up almost every first-time expat.
This guide breaks the cycle. We cover what documents you actually need, how to bridge the gap with digital accounts, and which local banks make the process least painful — country by country.
🎯 Why you need a local bank account
Many expats arrive thinking their home bank card and Wise will cover everything indefinitely. In practice, a local account becomes necessary faster than expected:
- Rent payments — most landlords require a local bank transfer, not international wires
- Salary or freelance income — local clients and some international payroll systems require a local IBAN
- Utility and subscription setup — phone plans, internet, electricity often require local direct debit
- Visa renewals — many visa types require proof of funds in a local account
- Tax filings — local tax authorities often require refunds to a local account
- Avoiding fees — even with low-fee cards, ATM withdrawal limits and foreign transaction fees add up over months
🌉 Step 1: Bridge accounts before you arrive
Before worrying about a local bank account, set up at least one of these digital accounts. They solve the immediate problem of spending money abroad without haemorrhaging fees, and some can serve as your primary account for months.
| Account | Best for | Local IBAN? | ATM withdrawals | FX fee |
|---|---|---|---|---|
| Wise | Receiving salary, holding multi-currency, paying rent internationally | Yes (EU, UK, US, AU) | Free up to ~$100/mo, then ~1.75% | Mid-market rate + ~0.4% |
| Revolut | Daily spending, travel, budgeting tools | Yes (EU, UK) | Free up to €200/mo (standard plan) | 0% weekdays up to limit, then 0.5% |
| N26 | EU residents wanting a real German IBAN with no fees | Yes (German IBAN) | 3 free/mo on free plan | 0% on card, 1.7% on withdrawal |
| Monzo | UK-based expats keeping a UK account active | UK only | Free in UK; fee abroad | 0% on card (standard) |
Open a Wise account before you leave your home country. It gives you a multi-currency account, a debit card, and local bank details in EUR/GBP/USD/AUD — immediately useful on arrival. Many expats run Wise as their primary account for the first 1–3 months while their local account application processes.
📋 Documents you'll typically need
Requirements vary by country and bank, but almost every local bank account application requires some version of this stack:
- Passport — the universal requirement. Some banks also want a second photo ID.
- Proof of address — the problematic one. Utility bill, rental contract, or official letter dated within 3 months. This is the hardest document for new arrivals to produce (see below).
- Tax identification number — your local tax ID (NIF in Portugal, NIF in Spain, TIN in Thailand, RFC in Mexico). Usually required before opening an account.
- Proof of income or employment — payslips, employment contract, or bank statements showing regular income. Some banks waive this for basic accounts.
- Visa or residence permit — proof of your right to reside in the country, especially important for non-EU citizens in Europe.
The classic trap: you need a local address to open a bank account, but landlords want a bank account to sign a lease. Three practical solutions:
1. Short-term rental first — book an Airbnb or serviced apartment for 4–8 weeks. Use that address on your bank application. Once the account opens, sign a long-term lease.
2. Digital banks that don't require a local address — Wise, Revolut, and N26 can often be opened using your home country address and serve as a bridge for early rent payments.
3. Fiscal representative / registered address service — in some countries (notably Portugal and Spain), tax consultants offer registered address services that satisfy both bank and visa requirements.
🗺️ Country-by-country bank guide
Here's what actually works in the most popular expat destinations, based on current requirements:
Portugal
Get your NIF first — everything else follows
The NIF (Número de Identificação Fiscal) is the key that unlocks Portuguese banking. Get it before anything else — it can be obtained remotely via a fiscal representative before you arrive.
- Activobank — digital-first arm of Millennium BCP; open online in days; no monthly fees; strongly recommended for expats as a first account
- Millennium BCP — largest private bank; English-speaking branches in Lisbon and Porto; solid app; small monthly fee (~€5)
- Novo Banco / BPI — both viable; branches widely available; standard KYC requirements
- N26 — if you hold an EU residence permit, N26's German IBAN works in Portugal for most purposes
Documents needed: Passport, NIF, proof of Portuguese address (rental contract), residence permit or visa.
Spain
NIE is mandatory — get it at the consulate before arriving
Spain requires a NIE (Número de Identificación de Extranjero) for almost everything financial. Apply at the Spanish consulate in your home country — much faster than doing it in Spain.
- BBVA — strong English-language app and online banking; non-resident accounts available; straightforward process with NIE + passport
- Sabadell — popular with expats and foreign property buyers; English support in coastal areas
- Openbank (Santander) — fully digital, no branch visits required, no fees; requires Spanish address and NIE
- CaixaBank — largest Spanish bank by customers; branches everywhere; some English support
Documents needed: Passport, NIE, proof of Spanish address, income proof for some account types.
Germany
Register your address (Anmeldung) first — it's required by law and unlocks banking
Germany has strict bureaucracy but the banking sector is straightforward once you have your Anmeldung (official address registration). You must register your address at the local Bürgeramt within 14 days of arriving — this certificate is what banks want.
- N26 — the easiest starting point; fully digital, open with just passport and German address; free basic account
- Deutsche Bank — traditional, English-speaking, widely used by expats; monthly fee (~€6–10)
- Commerzbank — free account available; good international transfer options; English available in major cities
- DKB — popular with German residents; free account with free worldwide ATM withdrawals; German-language only
Documents needed: Passport, Anmeldung certificate, residence permit for non-EU citizens.
Thailand
In-branch only — but straightforward with the right visa
Thailand has no digital account opening for foreigners — all banks require an in-person branch visit. Requirements vary by bank and branch, and some branches are more foreigner-friendly than others. Bring everything and go to a large branch in a major city.
- Bangkok Bank — most foreigner-friendly; English-speaking staff in main branches; accepts tourist visas for basic accounts at some branches
- Kasikorn Bank (KBank) — strong app and online banking; requires Non-Immigrant Visa or proof of long-term stay
- SCB (Siam Commercial Bank) — widely accessible; good for LTR visa holders
Documents needed: Passport with valid Non-Immigrant or LTR visa, proof of Thai address (letter from landlord or hotel), work permit or income letter (for some account types). Requirements change — confirm with the specific branch before visiting.
Opening a Thai bank account on a tourist visa is increasingly difficult and branch-dependent. If you're serious about living in Thailand, securing a Non-Immigrant Visa or LTR Visa first makes banking dramatically easier.
Mexico
CURP and RFC are your keys — get them before going to the bank
Mexico requires two tax identifiers for full banking access: the CURP (biometric ID number for all residents) and the RFC (tax ID for financial transactions). Both are obtainable at SAT offices or online with a Temporary Resident Visa.
- BBVA México — most foreigner-friendly; good English app; accepts Temporary Resident Visa holders
- Citibanamex — familiar name for US/Canadian expats; widely accessible
- HSBC México — popular with international expats for its global brand recognition; English support available
- Nu (Nubank) — fully digital, no fees, growing fast in Mexico; requires CURP and Mexican phone number
Documents needed: Passport, Temporary Resident Visa or FM3, CURP, RFC, proof of Mexican address (rental contract).
Georgia
The easiest banking in the world for expats — open in 30 minutes, no residency required
Georgia stands apart from every other country on this list. Banks here actively want foreign customers, and the process is astonishingly simple — walk in with your passport and walk out with a multi-currency account (GEL, USD, EUR) the same day.
- TBC Bank — the gold standard for expats; excellent English app; multi-currency accounts; open same day with passport only
- Bank of Georgia — strong alternative to TBC; similarly expat-friendly; good international transfer options
- Credo Bank — smaller but solid; good for those wanting alternatives
Documents needed: Passport only. That's it. No proof of address, no tax ID, no residency.
💳 Wise vs Revolut — which to use when
Both are essential tools for expats, but they serve different purposes:
📝 Banking checklist for new expats
- Open a Wise account before leaving home — order the physical card
- Notify your home bank of your move to prevent card blocks
- Obtain your local tax identification number (NIF, NIE, TIN, RFC, etc.) as a priority on arrival
- Book short-term accommodation to get a physical address for bank applications
- Gather documents: passport, visa/residence permit, proof of address, tax ID, income proof
- Research which specific branches in your city are most expat-friendly (forums and expat Facebook groups are useful here)
- Don't pay rent in cash for more than the first month — get a local account for traceable payments
- Set up a small automatic transfer from home to cover the first 2 months while banking settles
This guide is for informational purposes only. Banking requirements, fees, and policies change frequently. Always verify current requirements directly with the bank before visiting a branch. Digital account offerings and geographic availability may differ from those described.