Media type · Often needs address or residence proof
Banking abroad
Local accounts, cards and the cost of moving money across borders.
Key facts
| Opening | Often needs address or residence proof |
|---|---|
| Costs | FX margin, ATM and transfer fees |
| Use | Rent, utilities, local payments |
Keep a route home open
Closing your accounts at home can make tax filings, pensions and family payments harder. Keep at least one account and a card that works abroad, and tell the bank where you are living.
Price the cross-border movement of money as a monthly cost if you are paid in one currency and spend in another. The margin is part of the budget even when the fee is zero.
Frequently asked questions
Do I need a local bank account?
It helps for rent, utilities and local direct debits, and some landlords require one. Check what proof of address the bank accepts.
Are foreign cards expensive to use?
They can be, through a foreign-transaction fee and the rate applied. Compare the total cost with a local card or a transfer service.