How to Open an International Bank Account: Best Options for 2025

Having an international bank account is more than a luxury, it’s a strategic financial move.

Whether you’re an expat managing finances across borders, a digital nomad needing multi-currency access, or an investor seeking global banking convenience, the right account can simplify your life and safeguard your assets.

This guide explores how to open an international bank account online, highlights the best international bank accounts for 2025, and outlines everything you need to know to make an informed decision.

• What is an international bank account?
• Who is an international bank account for and how do they benefit?
• Best International Bank Accounts
• Top International Banks and Fintechs Offering Global Accounts
• How to Open an International Bank Account Online
• How do you transfer money from your local bank account to a foreign bank account and vice versa?
• Things to Consider Before Opening an International 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 that allows individuals or businesses to manage funds from one country to another. These accounts typically support multiple foreign currency holdings, cross-border payments, and remote account access.

Unlike traditional domestic accounts, they are designed for use across the globe, whether for frequent travelers, expats, or professionals who are working overseas.

These accounts can be offered by global banks with international branches or digital-first financial institutions. They provide tools for easier currency exchange, global ATM access, and, in some cases, tax optimization, depending on the jurisdiction and structure of the account.

Who is an international bank account for and how do they benefit?

International bank accounts are ideal for:

• Expats and global citizens who earn or spend money in more than one country.
• Remote workers or digital nomads living abroad while getting paid in different currencies.
• Frequent travelers needing uninterrupted access to funds no matter where they are.
• Investors or high-net-worth individuals (HNWIs) seeking to diversify assets globally.
• International students studying abroad.

Key benefits include:

• Holding and using multiple currencies without high foreign transaction fees when converting.
• Sending and receiving international payments faster and cheaper.
• Protecting assets located in politically or economically unstable regions.
• Accessing banking services from anywhere in the world.
• Improving financial privacy and global income tax planning (depending on jurisdiction).

Best International Bank Accounts in 2025

The best international bank accounts combine low fees, access across the globe, easy online setup, and reliable management of multiple major currencies.

The ideal international account depends on your needs because some accounts may lean toward favoring mobility and convenience, while others cater more to high-net-worth asset protection.

Top bank account options for 2025:

• Wise Multi-Currency Account: Best for freelancers, travelers, and remote workers.
• HSBC Expat Account: Ideal for relocating professionals and international investors.
• Revolut: Great for digital nomads who need budget-friendly global access.
• Citibank International: Trusted global brand with a strong expat presence.
• N26 (Europe): Clean mobile interface and easy Euro account setup.

Each of these accounts allows users to hold, spend, and transfer money internationally, often with real exchange rates and modern online platforms.

Top International Banks and Fintechs Offering Global Accounts

Here are some of the top institutions and platforms offering specifically international banking solutions, including some of the best banks in the world:

Traditional banks

• HSBC Expat: Based in Channel Islands, they offer full-service accounts for expats and internationally mobile professionals.
• Citibank International: Access accounts in over 30 countries with strong support for cross-border payments.
• Barclays International: Founded in Britain over 300 years ago, they offer savings and investment-focused international accounts.
• Standard Chartered: British multinational providing international services in Asia, Africa, and the Middle East.

Financial institutions and digital platforms

• Wise: This fintech platform is a youthful alternative with a strong reputation offering low-cost international transfers and the ability to hold over 40 international currencies.
• Revolut: All-in-one global banking with budgeting tools, cryptocurrency access, and travel perks provided through their loyalty program RevPoints.
• N26: A digital-first European bank that offers mobile-only banking with solid support for remote users with a focus on ease of use and transparency.
• Payoneer: This payment solution is built for freelancers. They offer lower foreign transaction fees, a prepaid debit card and multi-currency accounts for managing earnings in different currencies.

How to Open an International Bank Account Online

Opening an international bank account online is much easier than before due to recent fintech innovation and increased digital onboarding.

Step-by-step guide

1. Choose your provider based on your location, currency needs, and account features.
2. Submit your application via the chosen online banking platform.
3. Provide required documents:
   1. Valid passport or government-issued ID.
   2. Proof of residential address (utility bill, lease).
   3. In some cases, a tax number or proof of income.
4. Complete KYC/AML verification.
5. Transfer funds to the account to activate it.

Upon activation you’ll receive your bank account identification details such as the international bank account number (also known as an IBAN number), the country code, Swift code and branch code.

Some banks still require a branch visit or to provide notarized documents in person, but most fintech providers offer the benefit of a fully digital account setup.

How do you transfer money from your local bank account to a foreign bank account and vice versa?

Transferring money from your local bank account to a foreign or international bank account can be done in several ways, depending on your speed, cost, and convenience preferences.

Common methods

1. Bank wire transfer (SWIFT)
   1. Most traditional banks offer international wire transfers via the SWIFT network.
   2. You’ll need the recipient’s full name, IBAN number, SWIFT code, and local bank details such as the bank address.
   3. Foreign transaction fees can range from $20 to $50 (also take into account currency conversion markups).
   4. Transfers may take between 1 to 5 business days.
2. Online money transfers
   1. Providers like Wise, Revolut, OFX, and Payoneer offer faster, cheaper, and more transparent transfers via online or mobile platforms.
   2. They typically use the real exchange rate with lower fees.
   3. Transfers may arrive within only minutes and in other instances between 1 to 2 business days.
3. Multi-currency current accounts
   1. If you have a multi-currency international bank account, you can convert and send money internally between currencies at competitive rates.
   2. For example, if you’re a Wise account holder, you can hold balances in over 40 major currencies and send funds globally at low cost.

What you’ll need to make a transaction:

• Sender’s local bank details.
• Recipient’s name and foreign bank account number (or IBAN).
• Recipient’s BIC or SWIFT code.
• Amount and currency.
• Purpose of transfer (in some cases).

Things to Consider Before Opening an International Account

Before opening any open accounts internationally, consider the following:

• Regulatory compliance: Ensure the bank or financial institution complies with FATCA, CRS, and your local tax rules.
• Currency support: Does it offer support for the foreign currencies you use most often?
• Minimum balance requirements: Some international accounts require large deposits so keep that in mind.
• Fees: Watch for monthly charges like foreign transaction fees, ATM fees, forex markups and other hidden fees.
• Jurisdiction reputation: Choose a stable, trusted foreign country with strong banking laws, such as Singapore or Switzerland.
• Account features: Look for mobile banking options, global debit cards, and so-called real exchange rates.
• Tax implications: Some accounts may trigger tax reporting obligations in your home country. If this is a concern, you might want to consider tying your bank account to tax haven countries.

Choosing the best of the foreign bank accounts available for your needs can enhance your financial flexibility but the wrong choice can lead to exorbitant fees or compliance issues.

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

While both international or foreign bank accounts and offshore banking accounts allow you to hold funds in a different country than where you reside, they serve different purposes and come with distinct legal, regulatory, and practical considerations.

Key distinctions:

When should you choose each one?

• Choose an international bank account if you:
  • Need everyday access to multiple currencies.
  • Travel or work remotely and require borderless banking.
  • Want to send and receive funds globally with low fees.
  • Prefer accounts you can manage entirely online or via mobile app.
• Choose an offshore bank account if you:
  • Seek asset protection and international wealth diversification.
  • Operate a global business or trust that requires legal tax structuring.
  • Have a high net worth and want to invest internationally while maintaining financial confidentiality.
  • Are looking to safeguard against political or economic instability in your home country.

Frequently Asked Questions About an International Bank Account

What is an international bank account?

An international bank account allows you to hold and manage money in multiple currencies across borders. It’s ideal for expats, digital nomads, investors, and frequent travelers who need global access to their funds.

Can I open an international bank account online?

Yes, many banks and fintech platforms now allow you to open an international bank account online without the need to visit a branch. Popular options include Wise, Revolut, N26, and HSBC Expat.

Which bank is best for an international account?

Top banks offering the best international bank accounts include HSBC Expat, Citibank Global Account, and fintechs like Wise and Revolut. Each of these banks offer low fees, global access, and multi-currency features.

What are the benefits of having an international bank account?

Benefits include easier cross-border or international transfers, multi-currency support, lower foreign exchange fees, financial privacy, and convenience for travel, relocation, or remote work.

Who can open an international bank account?

Most banks allow non-residents, expats, business owners, and remote workers to open international accounts, provided they meet the bank’s KYC and compliance requirements.

How do I open an international bank account?

You’ll usually need to complete an online application, provide identification documents (passport, proof of address), and meet minimum deposit or residency requirements, depending on the bank.

What documents are required to open an international bank account?

Typically required documents include:

• Valid passport or government-issued ID
• Proof of address (utility bill, lease or similar)
• Proof of income or employment
• Tax identification number (in some cases)

Are there fees associated with international bank accounts?

Yes, many accounts charge monthly maintenance fees, international transfer fees, and currency conversion fees. However, some fintech options offer zero monthly fees and transparent FX rates.

Can non-residents open international bank accounts?

Yes, many banks allow non-residents to open international accounts, especially in jurisdictions like Switzerland, Singapore, and the Cayman Islands, or through digital banks.

Which is the best international bank account for expats?

HSBC Expat and Wise are top choices for expats. HSBC offers full-service banking across countries, while Wise is ideal for low-cost transfers and managing multiple currencies online.

Can I manage an international bank account remotely?

Absolutely. Most international bank accounts offer online and mobile banking features, allowing you to manage funds, transfer money, and monitor transactions from anywhere using a smartphone or laptop.

What is the difference between an offshore account and an international bank account?

An offshore account is typically held in a jurisdiction known for financial privacy or tax benefits, while an international bank account focuses on global accessibility and currency management for mobile individuals.

What is meant by real exchange rate?

The real exchange rate refers to the actual market-based value at which one currency can be exchanged for another. This means no hidden markups or inflated conversion fees. It reflects the true mid-market rate, aka the rate you’ll see on platforms like Reuters or Google.