Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Events
    • Shop
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • United Kingdom
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Events
    • Shop
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • United Kingdom
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Your Escape Plan

The Basics of Opening a Bank Account Overseas

  • BY Don Halbert
  • February 9, 2014
Total
0
Shares
0
0
0

When people move abroad, it’s usually because they’re looking for a whole new life – different climate, fresh culture, exotic foods.  But this sense of adventure rarely applies when people want to establish themselves financially in a new country.

This is understandable; foreign banking can seem intimidating when you first arrive.  It can also seem like a total hassle, especially when it might be completely possible to use your accounts and credit cards from back home.

So although you might not need an account per se, it will make your life a whole lot easier in the long run (but if you have a business, plan on it being mandatory).  For instance, it will be more difficult to work with your existing bank on anything from loans to account changes.  They often just aren’t equipped to deal with the international issues that may arise.  Plus, since many places abroad still rely heavily on checks, you’ll probably need to have checks that are in the local language and currency in order for them to be accepted.

Once you’ve come to terms with opening a foreign account, shop around for the bank that locals are most happy with.  Ask them what you’ll need to set up an account and bring those items when you go, but don’t be surprised if you have to make an appointment (especially if you need a translator).  Some paperwork that might be necessary: your passport, a utility bill with current your address, marriage certificate (if applicable), birth certificate, or old bank statements.

Prepare for the banking process to be very different from what you’ve experienced.  During the appointment to open the account, there might be awkward delays, they might ask you some strange questions, and there will probably be a mountain of paperwork.  They may also do things like require a certain amount of money to be maintained in the account, or additional charges for a joint account.  Don’t be shocked; just try to go with the flow.

Once everything has been signed, initialed and stamped accordingly, you’ll be the proud owner of a new bank account in your destination country.  Now all you have to do is wait for your ATM cards and checks, which will usually take anywhere between 2-8 weeks to arrive.

Depending on the country, this process can be much simpler or require a lot more hoops to jump through.  Regardless, you should consider having an account in a foreign country as a privilege and not a right, and no matter how aggravating the process might be, treat any personnel with respect when opening a bank account overseas.

If you’re considering traveling or moving abroad, be sure to explore your healthcare options. Visit International Citizens Insurance to learn more and get a free quote.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • banking
  • getting settled
Previous Article
  • Your Escape Plan

5 Ways Vacation Improves Kids Health

  • BY EA Editors
  • November 9, 2013
View Post
Next Article
  • Food + Culture

Typical Food In Paraguay

  • BY EA Editors
  • September 11, 2014
View Post
You May Also Like
Hungarian Citizenship by Descent Journey from Amercia
View Post
  • Second Citizenship
Our Journey from America to Hungarian Citizenship
  • BY Ethan Cohen & Learn Hungarian Anywhere
  • October 1, 2025
The Tale of the Tael - A timeless store of value across centuries
View Post
  • Finance
The Tale of the Tael’s: A Hard Lesson about Hard Money
  • BY Michael Checkan
  • September 24, 2025
Craggy cliffs and quiet harbors frame life in the Isle of Man
View Post
  • Your Escape Plan
Life and Opportunity on the Isle of Man
  • BY Aneesa Marufu
  • September 19, 2025
Central America’s strategic position is reshaping the global offshore banking map
View Post
  • Plan B
The Future of Global Finance Runs Through Central America
  • BY Luigi Wewege
  • September 17, 2025
Tokyo's infamous cherry blossoms.
View Post
  • Japan
How I Built a Life in Tokyo in 3 Months
  • BY Annie Nagel
  • September 8, 2025
Global Diversification Tips from Experts
View Post
  • Plan B
Staying in One Country Could Be Your Biggest Financial Risk
  • BY Isha Sesay
  • September 3, 2025
Low-Tax Countries to Save Money in 2025
View Post
  • Plan B
Where Expats Are Moving to Keep More of Their Money
  • BY EA Editorial Staff
  • August 27, 2025
The search for a second passport has shifted from luxury to necessity for many Americans
View Post
  • Second Residency
America’s Second Passport Fever
  • BY EA Editorial Staff
  • August 25, 2025
Trending Posts
  • 1
    • Mexico
    Top 10 Things to Know if You’re Moving to Mexico
    • September 26, 2025
  • The Tale of the Tael - A timeless store of value across centuries 2
    • Finance
    The Tale of the Tael’s: A Hard Lesson about Hard Money
    • September 24, 2025
  • Hungarian Citizenship by Descent Journey from Amercia 3
    • Second Citizenship
    Our Journey from America to Hungarian Citizenship
    • October 1, 2025
  • Abkhazia jewel of Soviet summer escapes 4
    • Field Notes
    Secrets of the Soviet Riviera
    • October 3, 2025
  • Summer in Lapland: Lapland’s wild landscapes glow under the endless Arctic sun 5
    • Field Notes
    Before the Snow Falls in Lapland
    • September 29, 2025
InterNations
Know Before You Go
  • Expat Child Syndrome 1
    • Wellness
    The Untold Story of Expat Kids
    • October 6, 2025
  • Abkhazia jewel of Soviet summer escapes 2
    • Field Notes
    Secrets of the Soviet Riviera
    • October 3, 2025
  • Hungarian Citizenship by Descent Journey from Amercia 3
    • Second Citizenship
    Our Journey from America to Hungarian Citizenship
    • October 1, 2025
  • Summer in Lapland: Lapland’s wild landscapes glow under the endless Arctic sun 4
    • Field Notes
    Before the Snow Falls in Lapland
    • September 29, 2025
  • 5
    • Mexico
    Top 10 Things to Know if You’re Moving to Mexico
    • September 26, 2025
Learn More
  • About us
  • Contact
  • Advertise
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/