How to Open an International Bank Account Online (2025 Guide)

Cross-border banking has evolved from being a niche service only needed by some to a fundamental requirement for a wider group of individuals.

Having insight into how to open an international bank account is valuable for when decide to relocate abroad, want to work remotely across various countries or even continents, travel long-term, retire overseas or invest internationally.

Access to an international bank account simplifies your financial life by enabling you to hold and manage multiple currencies, make effortless international payments, and access funds worldwide via digital platforms.

In this guide, we’ll explain what an international bank account is, who should open one, and how to open an international bank account online. We’ll also highlight the best international bank accounts for 2025, compare traditional banks with fintech alternatives, and outline key considerations such as fees, compliance rules like FATCA and FBAR, and the difference between international and offshore accounts.

• What is an international bank account?
• Who should open an international bank account?
• Benefits of Having an International Bank Account
• Best International Bank Accounts
• How to Open an International Bank Account Online (Step-by-Step Guide)
• Transferring Money Between Local and International Bank Accounts
• Things to Consider Before Opening an International Bank Account
• International bank account vs offshore account: what’s the difference?
• Frequently Asked Questions

What is an international bank account?

An international bank account is a financial account designed to manage money across different countries and currencies. Unlike a standard domestic account, it supports:

• Multi-currency balances (USD, EUR, GBP, etc.)
• Cross-border payments and international wire transfers
• Foreign currency exchange at competitive or real exchange rates
• Mobile banking apps and online banking platforms for global access

You’ll often be given an International Bank Account Number (IBAN) and SWIFT/BIC code, which are essential for receiving international payments securely. These accounts may be offered by global banks with branches worldwide or by fintech platforms specializing in borderless money management.

Who should open an international bank account?

An international account is not just for the wealthy. It’s a practical tool for anyone who lives, works, or transacts across borders. It’s especially valuable for:

• Expats who earn and spend in multiple countries.
• US citizens managing overseas income but needing FATCA-compliant banking.
• Digital nomads working remotely for international clients.
• Frequent travelers who want to avoid foreign transaction fees abroad.
• Investors and high-net-worth individuals (HNWIs) seeking global diversification.
• International students studying abroad who need a reliable way to receive money from home.

Benefits of Having an International Bank Account

• Multi-currency support and real foreign exchange rates: Hold and spend in multiple major currencies without costly conversions. Some providers, like Wise, use the mid-market foreign exchange rate, ensuring transparency.
• Lower foreign transaction fees: Using an international account helps avoid the 1 to 3% foreign transaction fees that many domestic banks charge when spending abroad.
• Seamless cross-border payments: Make international wire transfers quickly using your IBAN and SWIFT code, or send funds instantly through fintech apps like Revolut.
• Mobile banking and online banking access: Most providers offer mobile apps through which you can manage accounts, pay bills, and monitor balances from anywhere in the world.
• Asset protection and tax planning: Depending on the country the bank operates in, international accounts may provide added financial security, diversification, and even privacy (while remaining compliant with AML and CRS regulations).

Best International Bank Accounts in 2025

The best international bank accounts combine global accessibility, low fees, secure compliance, and easy management of multiple currencies.

The right choice depends on your lifestyle and financial goals: some accounts focus on mobility and convenience for digital nomads, while others cater to expats, investors, and high-net-worth individuals who need asset protection and wealth services. Here are the top international bank account options in 2025:

• Wise Multi-Currency Account: Best for freelancers, travelers, and remote workers. Supports over 40 currencies, provides local bank details in multiple countries, and uses the real exchange rate with low fees. The mobile banking app makes managing cross-border finances simple.
• HSBC Expat Account: Designed for relocating professionals and international investors. Offers multi-currency banking, global transfers, and tailored expat support. Ideal for those seeking a trusted international bank account with comprehensive services.
• Revolut: Great for digital nomads needing budget-friendly banking. Provides instant currency conversion, spending in 30+ currencies, and extras like crypto and travel rewards. Premium tiers eliminate many foreign transaction fees.
• Citibank International: A global brand with accounts in over 30 countries, strong expat support, and access to investment products. Reliable for cross-border payments and international mobility.
• N26 (Europe): A mobile-first bank with a sleek app interface, especially suited to Eurozone residents. Offers transparent fees and fast Euro account setup, making it attractive for students and remote workers in Europe.
• Charles Schwab High Yield Checking: Popular with US expats and frequent travelers. Offers no foreign transaction fees and unlimited worldwide ATM fee rebates, making it one of the best low-cost options for Americans abroad.
• Barclays International: Tailored for investors and high-net-worth individuals. Provides international savings and investment accounts, strong wealth management services, and prestige banking features in stable jurisdictions.
• Payoneer: Built for freelancers and small businesses. Offers multi-currency accounts to receive international payments at lower cost, along with a prepaid debit card for convenient spending worldwide.

Each of these providers allows you to open an international bank account online (at least partially), manage money in multiple currencies, and transfer funds across borders with greater transparency than traditional domestic accounts.

How to Open an International Bank Account Online (Step-by-Step Guide)

Opening an international bank account online has never been easier, especially with fintechs simplifying digital onboarding. Here’s a typical process:

• Choose your provider: Decide between a global bank (HSBC, Citi, Barclays) or fintech (Wise, Revolut, N26) based on your needs.
• Check eligibility: Some banks require residency, while fintechs often don’t. US citizens may face stricter checks under FATCA rules.
• Prepare all the documents:
  • Valid passport or government-issued ID
  • Proof of address (utility bill, rental agreement)
  • Tax identification number or proof of income
• Complete KYC/AML verification: To comply with anti-money laundering regulations.
• Fund your account: Once approved, you’ll receive your IBAN and SWIFT code for transfers.

Some banks may still require a branch visit or notarized documents, but fintechs usually allow a 100% online account opening process.

Transferring Money Between Local and International Bank Accounts

Once your account is open, you can move funds in and out using several methods:

Bank wire transfers via SWIFT

• Requires the recipient’s IBAN, SWIFT code, and local bank details.
• Fees: $20 – $50 + FX (foreign exchange) markup.
• Transfer time: 1 to 5 business days.

Online transfer platforms

• Providers like Wise, Revolut, and Payoneer offer faster and cheaper alternatives.
• Use real foreign exchange rates and lower foreign transaction fees.
• Funds often arrive within minutes to 2 days.

Multi-currency accounts

• Convert and transfer internally at competitive rates.
• Example: Wise lets you hold over 40 foreign currencies and send funds globally with minimal cost.

Things to Consider Before Opening an International Account

Before you commit to opening a Caribbean bank account or other international bank or fintech company, keep these factors in mind:

• Compliance rules: FATCA, FBAR, and CRS apply to US citizens and residents.
• Currency support: Choose a provider that covers the major currencies you use.
• Minimum balance requirements: Traditional banks may require thousands in deposits.
• Fees: Watch for monthly fees, ATM charges, and hidden foreign transaction fees.
• Reputation: Stick to stable banking hubs like Singapore, Switzerland, or the EU.
• Features: Does the account include a mobile banking app, debit card, or access to real foreign exchange rates?

International bank account vs offshore account: what’s the difference?

Although people often use these terms interchangeably, they serve different purposes:

If you need everyday access to multiple currencies, choose an international bank account. If your goal is wealth protection, consider an offshore account with professional guidance.