The Best Banks for Expats: Finding The Right Fit For You
Moving abroad is more than just a change in scenery—it’s a complete shift in how you manage your life, including your finances. When you’re transitioning into expat life, choosing the right banking solution can mean the difference between financial freedom and frustrating roadblocks.
At Next Chapter Nomads, we know firsthand how overwhelming it can be to navigate international banking without the built-in support systems you once relied on. That’s why we’re breaking down the best banking options for expats—so you can make informed decisions and avoid costly mistakes.
1. Wise – The No-Nonsense Global Account
Best for: Expats who need low-fee international transfers and multi-currency management.
Wise is perfect for those who want straightforward, transparent banking without hidden fees. If you’re managing finances across multiple countries, Wise lets you hold and exchange money in over 30 currencies at real exchange rates—no inflated markups.
✔ No hidden fees – Uses mid-market exchange rates with minimal transfer costs.
✔ Multi-currency accounts – Hold and convert money seamlessly.
✔ Debit card for global spending – Spend in local currencies without unnecessary markups.
Heads-up: Wise isn’t a full-service bank, meaning it lacks investment and savings account options.
2. Revolut – The Digital Finance Hub for Nomads
Best for: Expats who want budgeting tools, travel perks, and cryptocurrency access.
Revolut is more than just a bank—it’s a financial toolkit designed for modern nomads. Whether you’re tracking expenses, exchanging currencies, or even dabbling in cryptocurrency, Revolut gives you full control over your finances from anywhere in the world.
✔ Competitive exchange rates – Swap currencies at interbank rates.
✔ Smart budgeting tools – Track expenses, set savings goals, and manage spending habits.
✔ Crypto & stock investments – Trade cryptocurrencies and stocks from the app.
Heads-up: Revolut’s free plan has limits on fee-free ATM withdrawals, and some premium features require a monthly subscription.
3. N26 – The European Nomad’s Bank
Best for: Expats in Europe looking for a user-friendly digital banking experience.
If you’re settling in Europe, N26 is a game-changer. This fully digital bank offers seamless transactions, multi-currency support, and zero foreign transaction fees, making it a favorite among expats.
✔ No foreign transaction fees – Great for seamless international purchases.
✔ Mobile-first banking – Everything is done via the app, with no physical branches.
✔ Premium plans with travel perks – Includes insurance and airport lounge access for frequent travelers.
Heads-up: N26 is not available in all countries, and customer service can sometimes feel automated.
4. Charles Schwab Bank – The Best for U.S. Expats
Best for: Americans living abroad who need ATM fee reimbursements and no foreign transaction fees.
Charles Schwab Bank is one of the best banking options for U.S. expats, providing unlimited ATM fee reimbursements worldwide.
✔ No foreign transaction fees – Spend abroad without extra costs.
✔ Unlimited ATM fee reimbursements – Withdraw money anywhere without worrying about fees.
✔ Linked investment accounts – Easily manage savings and retirement investments.
Heads-up: To access these benefits, expats must maintain a brokerage account with Schwab, which may not be ideal for everyone.
5. HSBC Global Money Account – The Trusted Expat Bank
Best for: Expats who want seamless international banking with access to global branches.
HSBC’s Global Money Account is a solid choice for long-term expats, offering international transactions and financial services across multiple countries.
✔ International banking access – Open accounts in different countries with ease.
✔ Multi-currency support – Hold funds in multiple currencies for flexible transactions.
✔ Trusted global brand – Extensive network of branches worldwide.
Heads-up: HSBC often has higher banking fees than digital competitors, and some services require minimum balance requirements.
Final Thoughts: Which Bank Is Right for You?
Choosing the best banking option depends on your lifestyle, spending habits, and financial needs as an expat. Here’s a quick guide to help you decide:
Best for low-cost international transfers: Wise
Best for budgeting & cryptocurrency: Revolut
Best for European expats: N26
Best for U.S. expats: Charles Schwab Bank
Best for global banking access: HSBC Global Money Account
At Next Chapter Nomads, we believe that financial stability is the foundation of a successful transition abroad. Whether you’re embracing nomadic travel, establishing a home base, or figuring out how to make remote work sustainable, having the right banking setup can make all the difference.
