How to open an expat bank account in different countries
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Expat Banking - As an expat you may have to open an expat bank account in the country you have moved to. Below is a list of expat bank account opening procedures and the documents you will need to provide to open an expat bank account in some countries.
Australia Expat Bank Account
The Australian currency is the Australia Dollar. (AUD).
The denominations are 5, 10, 20, 50, and 100 dollar notes. One dollar and two dollar coins have replaced notes in 1984 and 1988 respectively.
To open a bank account expats who have newly arrived in Australia can do so during the first six weeks of their stay with just their passport. You can also get a debit card which is available with the account.
Some banks to look for in Australia are ANZ, Commonwealth Bank of Australia, National Australia Bank, Westpac and HSBC.
More about account opening for expats in Australia.
Baharain Expat Bank Account
The Baharain currency is the Bahraini Dinar. (BD).
The denomations are 1/2, 1, 5, 10, 20. It is divided into 1000 fils.
To open a bank account in Bahrain expats must follow the strict rules. Anyone holding a valid residence visa can open a bank account You must also have an authorizing letter from your employer specifing your salary.
Most banks will want to see copies of your passport and rental lease. Banks will issue their customers credit and debit cards and international cards will work at many ATMS but there will be an added surcharge. Remember most places will only accept cash.
Some banks to look for in Bahrain are Ahli United Bank BSC, Arab Bank PLC, Barclays, Future Bank, HSBC, National Bank of Bahrain.
Brazil Expat Bank Account
The Brazil currency is the Real. (BRL).
The denomations are 2, 5, 10, 20, 50.
To open a bank account in Brazil expats must provide a valid identity document (eg...national ID or Passport), individual taxpayer’s number (Cadastro de Pessoa Fisica, CPF) and Proof of residence.
ATM machines are widely available.Please note that many ATM machines don’t accept foreign cards. Also many ATM machines do not operate between 10pm and 7am because of security concerns.
Some banks to look for in Brazil are Banco do Brasil, Banco Itaú, Bradesco, Caixa, Citibank, Credit Suisse, HSBC and Santander.
Canada Expat Bank Account
The Canadian currency is the Canadian Dollar. (CAD).
The denomations are 5, 10, 20, 50 and 100 dollar notes. One dollar and two dollar coins have replaced notes in 1989 and 1996 respectively.
Opening a bank account in Canada is a necessity. To open a Canada bank account expats usually just need to provide two forms of ID and proof of address. Expats will also need a reference from their employer.
Debit cards are issued with checking accounts, and ATM machines are widely accessible.
Also note that banks charge numerous fees if there are too many transactions per month.
Some banks to look for in Canada are Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada and TD Canada Trust.
More about account opening for expats in Canada.
China Expat Bank Account
The Chinese currency is the Renminbi. (RMB).
The denomations are 1, 2, 5, 10, 20, 50, and 100 yuan notes.
To open a bank account in China expats will need a valid passport and proof of address. Normally banks will provide a debit card when you open an account. ATM machines are widely accessible and international cards will work but withdrawals are limited to around US$500 daily.
Some banks to look for in China are Agricultural Bank of China, Bank of China, Citi, Construction Bank of China, HSBC, and ICBC.
Denmark Expat Bank Account
Denmark may be part of the European Union, but the official currency is not the Euro. It's the Danish Krone (DKK), which is comprised of 100 ore.
The denominations are:
Coins: 50 ore and 1, 2, 5, 10, and 20 kroner.
Notes: 50, 100, 200, 500, and 1,000 kroner.
To open a bank account in Denmark expats will need a CPR number. The CPR number is your Civil Registration Number, passpor, residence permit, proof of employment and income and proof of address.
Some banks to look for in Denmark are Dankse Bank, Nordea, and Nykredit, Jyske Bank, Syd Bank, FIH Erhversbank, Spar Nord Bank and Roskilde Bank.
More about account opening for expats in Denmark.
France Expat Bank Account
The French currency is the Euro. (EUR).
The denomations are 5, 10, 20, 50, 100, 200 and 500 notes.
To open a bank account in France expats must prove that they have been a resident for 3 months, this is a resident account. You can also get a non resident which is similar but does not come with a credit card or any overdraft protection.
Resident account require proof of identity, a passport or EU card for EU citizens, plus a utility bill; proof of earnings, usually means your work contract; resident status (carte de sejour) and bank references (not always needed.)
To open a non- residen account you will need proof of identity, a passport; proof of residency (a utility bill ; bank referencesand bank references (not always needed.); an initial deposit of as high as 8,000 EUR or equivalent.
Most credit cards are widely accepted and ATM machines are commonplace.
Some banks to look for in France are Banque de la Poste, Banque Populaire, BNP Paribas, Caisse d'Epargne, Credit Agricole, Credit Mutuel, Credit du Nord, Dexia, LCL and Societe Generale.
More about account opening for expats in France.
Germany Expat Bank Account
The German currency is the Euro. (EUR).
The denomations are 5, 10, 20, 50, 100, 200 and 500 notes.
Opening a bank account in Germany is hassle free. Expats will need to provide residence card, proof of address within Germany and a passport. Expat Online banking is a common feature of German banking and a means of making transactions and managing accounts easily.
Once the account is opened the bank will issue you with an EC card (Eurocard) which you can use for cash withdrawels, bank statements at ATM machines and payment for goods and services.
Some banks to look for in Germany are Commerzbank, Deutsche Bank, Lloyds TSB, Post Bank and Royal Bank of Scotland.
More about account opening for expats in Germany.
Hong Kong Expat Bank Account
The Hong Kong currency is the Hong Kong Dollar. (HKD).
The denomations are 10, 20, 50, 100, 500 and 1000 notes.
To open a bank account in Hong Kong expats will need to provide an identity card, and proof of address such as a utility bill, as well as at least HK $1000 for the opening balance. Some banks require foreigners to provide a passport and a letter from their employers.
Please note that US citizens are required to give their Social Security Number for IRS tax reporting purposes. The account also comes with a EPS debit card that can be used for purchases.
Some banks to look for in Hong Kong are Bank of China, Citibank, Hang Seng Bank, HSBC and Standard Chartered Bank.
More about account opening for expats in Hong Kong.
India Expat Bank Account
The Indian currency is the Indian Rupee. (INR).
The denomations are 1, 2, 5, 10, 20, 50, 100, 500, and 1000 rupee notes.
To open a bank account in India expats will need a foreigner registration number, passport, visa, and proof of address.
Debit cards are issued along with bank accounts and you can apply for a credit card.
Please note that while the use of debit and credit cards as well as ATM machines is on the rise these machines maybe be a little bit hard to come by.
Some banks to look for in India are Bank of Baroda, Barclays, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India and Royal Bank of Scotland.
Malaysia Expat Bank Account
The Malaysian currency is the Malaysian Ringgit. (MYR).
Notes: RM 1, RM 2, RM 5, RM 10, RM 50 and RM 100
Coins: 1, 5, 10, 20, 50 sen.
To open a bank account in Malaysia expats will need a valid work permit. New customers are generally required to provide their ID or passport, evidence of residency or employment status such as a work visa or letter of employment.
Debit and credit cards are widely used in Malaysia. Cash paymments are however more popular.
Please note that credit card fraud remains a problem in Malaysia, with the country experiencing some of the highest rates of this crime in the world.
Some banks to look for in Maylasia are Bank Islam Malaysia, Bank Muamalat Malaysia, CIMB Bank, Citibank, HSBC, Public Bank and RHB Bank.
More about account opening for expats in Malaysia.
Mexico Expat Bank Account
The Mexican currency is the Mexican Peso. (MXN).
The denomations are 20, 50, 100, 200, 500 and 1000 pesos.
To open a bank account in Mexico expats will need a FM2 migration form, proof of address (such as a fixed line telephone bill or utility bill, issued in the last two months), photo ID document (e.g. passport) and personal ID number (CURP).
ATM machines can be found everywhere.
Please note that you should be mindful of ATM fraud and robbery in the large cities.
Some banks to look for in Mexico are BBVA Bancomer, Banco Santander, Banorte, Banco Azteca, HSBC and Scotiabank.
Portugal Expat Bank Account
The Portugal currency is the Euro. (EUR).
The denomations are 5, 10, 20, 50, 100, 200 and 500 notes.
To open a bank account inPortugal expats will need a passport or some other form of identification, your fiscal number (grab this at the local finance office), proof of residence (usually in the form of a utility bill or lease agreement), proof of employment (e.g. a contract, payment slip, or note from employer), a letter of reference from your current bank and a minimum deposit somewhere in the neighborhood of €250 (check with the bank for exact totals).
Please note that you should be mindful that bouncing cheques is a criminal offense.
Some banks to look for in Portugal are Millennium BCP, Banco Espirito Santo, Barclays and Deutsche Bank.
More about account opening for expats in Portugal.
Saudi Arabia Expat Bank Account
The Saudi currency is the Saudi Riyal. (SAR).
The denomations are 1, 5, 10, 50, 100, 200 and 500 riyals.
To open a bank account in Saudi Arabia expats will need a letter of introduction from your employer, your identification in the form of your Iqama and confirmation of legal residency.
ATM machines can be found everywhere. Cash as well as credit cards are widely used.
Please note that under Sharia law, non-payment of debt is a criminal offence that can get you imprisoned.
Some banks to look for in Saudia Arabia are Arab National Bank, Al Rajhi Bank, Bank Al Jazira, Banque Saudi Fransi, Deutsche Bank, JP Morgan Chase and National Commercial Bank.
Singapore Expat Bank Account
The Singapore currency is the Singapore dollar. (SAR).
The denomations are 2, 5, 10, 50, 100, 1000 and 10000 dollar notes.
To open a bank account in Singapore expats will need copy of your passport, copy of your employment pass (some banks will accept a confirmation slip/letter for appointment at M.O.M from the company if you do not yet have the pass) and minimum balance required (this varies from bank to bank, but must be paid in local currency).
The process can be completed in a single day. Once the account is opened you will be given an ATM card.
ATMs are located everywhere, and credit cards are widely accepted; though, international cards will incur high transaction costs.
Some banks to look for in Singapore are DBS, Credit Suisse, Citibank, HSBC, OCBC, Standard Chartered and United Overseas Bank.
More about account opening for expats in Singapore.
South Africa Expat Bank Account
The South Arfican currency is the South African Rand. (ZAR).
The denomations are 10, 20, 50, 100 and 200 rand notes.
To open a bank account In South Africa expats will need to be over 18, provide proof of ID (usually a passport) and proof of address in South Africa.
Visa and Mastercard are widely accepted while American Express and Diner's Club are accepted in major centres and tourist locations. ATMs are located everywhere.
Please note that South Africa has currency control restrictions which your bank should explain. Also expats may find it difficult to open a credit account without a South African credit record.
Some banks to look for in South Africa are ABSA, First National Bank, Investec, Lloyds, Nedbank, Rand Merchant Bank, and Standard Bank.
More about account opening for expats in South Africa.
Spain Expat Bank Account
The Spanish currency is the Euro. (EUR).
The denomations are 5, 10, 20, 50, 100, 200 and 500 notes.
There are two two types of account available for expats. Resident and Non-resident (held in foreign currencies but have higer fees).
To open a bank account in Spain expats will need to be over 18, provide proof of ID (passport or national ID card) and Foreigner's Identification Number and certificate (Numero de Identificacion de Extranjeros or NIE). Some banks may require confirmation of address, usually a uitility bill.
Credit cards are widely accepted and ATM machines can be found easily. In comparison to other European countries bank charges and fees are expaesive.
Please note that if you cant speak Spanish it is best to select a branch with English-speaking staff and an option for statements and documentation to be translated into English.
Some banks to look for in Spain are Bankia, Barclays, BBVA, Banco Popular, Banco de Sabadell, Caixabank, Citibank, Deutsche Bank and HSBC.
More about account opening for expats in Spain.
Switzerland Expat Bank Account
Switzerland’s currency is the Swiss franc (CHF).
The denominations are as follows:
Notes: 10, 20, 50, 100, 200, 500, 1000 francs.
Coins: 1, 2, and 5 francs and 5, 10, 20, and 50 rappen/centimes.
To open a bank account in Switzerland expats will need, passport or other photo identification, residence permit, proof of address (e.g. recent utility bill) copy of your employment contract and proof of the origin of the funds that will be coming into your account (e.g. documents from the sale of a property or a pay slip).
Some banks to look for in Switzerland are Banque Raiffeisen, Clientis Bank, UBS and Credit Suisse
More about account opening for expats in Switzerland.
The Netherlands Expat Bank Account
The Netherlands currency is the Euro. (EUR).
The denomations are 5, 10, 20, 50, 100, 200 and 500 notes.
To open a bank account in theNetherlands expats will need to provide a valid passport, proof of address, such as a rental lease or utility bill, BSN or tax number, a resident permit and some banks may request proof of work, such as a contract.
Credit cards are widely accepted and ATM machines can be found easily.
Please note that it is essential to have a Dutch bank account in order to receive a salary in the Netherlands and pay for many other services.
Also expat must get a BSN/SOFI number from their local tax office as it is required before one can get a job, or open an account.
Some banks to look for in the United Kingdom are ABN-AMRO, ASN Bank, ING, Rabobank and SNS.
United Kingdom Expat Bank Account
The United Kingdom currency is the Pound Sterling. (GBP).
The denominations are 5, 10, 20 and 50 notes.
To open a bank account in the United Kingdom expats will need to provide proof of income and employment, evidence of a local address, and a passport.
Credit cards are widely accepted and ATM machines can be found easily.
Please note that currency can be exchanged at most banks, bureaux de change and post offices – which actually offer some of the best rates.
Some banks to look for in the United Kingdom are Barclays, HSBC, Lloyds TSB, NatWest, Royal Bank of Scotland and Santander.
More about account opening for expats in The United Kingdom.
United States Expat Bank Account
The United States currency is the United States dollar. (USD).
The denominations are 1, 5, 10, 20, 50 and 100 dollar notes.
To open a bank account in the United States expats will need to provide passport, immigration information, social security number and proof of address.
Generally expats should confirm with their bank what forms of identification are required.
Credit cards are widely accepted and ATM machines can be found easily
.
Please note that it is possible to relocate successfully without opening an American account as short stay expats tend to use their overseas account.
Some banks to look for in the United States are Bank of America, Barclays, Citibank, HSBC, J. P. Morgan Chase, Morgan Stanley, Wells Fargo and Goldman Sachs.
Vietnam Expat Bank Account
The Vietnamese currency is the Vietnamese Dong (VND).
The denominations are 100, 500, 1000, 2000, 5000, 10,000, 20,000, 50,000, 100,000 and 500,000 Dong notes.
To open a bank account in Vietnam expats will need to provide passport, a copy of your work contract, address verification and an initial deposit which varies from bank to bank.
ATM machines are widely available. Some bank will ask which currency you prefer for the account, Vietnamese Dong or US Dollars.
Please note that most banks have at least one English-speaking service representative.
Some banks to look for in the Vietnam are ANZ, Agribank, BIDV, HSBC, Techcombank, VietinBank and Vietcombank.
