Banking as an Expat: Home Account + Local Account
Unlike a digital nomad with no fixed base, an expat is settling in one specific country — the banking question isn't just "which account is easiest to open," it's "how do I run two banking relationships (home country + new country) without losing money to transfer fees and FX spreads."
International banking groups that link accounts across countries
- HSBC Expat / HSBC Premier — links accounts across HSBC's network, useful if your destination country has an HSBC presence.
- Citibank Global — free transfers between Citibank accounts worldwide, but the fee-free tier (CitiGold) requires a $200,000+ combined balance.
Opening a local account once you've relocated
Once you have a local address and (usually) a residence permit, opening a standard local account is normally faster and cheaper than routing everything through an international private-banking tier. See our UAE, Singapore, and other country guides for exactly what's required before you have full residency.
Frequently Asked Questions
What is the best bank for expats?
It depends whether you need to keep your home-country account active alongside a new local one. HSBC Expat and Citibank Global specialize in linking accounts across countries; a purely local bank in your new country of residence is usually cheaper day-to-day once you're settled.
Should an expat keep their home-country bank account?
Usually yes, at least during the transition — for pension payments, home-country taxes, and as a fallback while local credit history builds up in the new country.
Do expats need a local bank account immediately?
For salary payments, rent, and daily spending in the new country, yes — a local account is generally required within the first few weeks of relocating.
More Guides
- How to Open a Bank Account Abroad
- US Bank Account for Non-Residents
- Multi-Currency Bank Accounts
- Best Offshore Banks, Ranked
- UAE / Dubai Bank Account (Non-Resident)
- Singapore Bank Account (Non-Resident)
- Panama Bank Account (Non-Resident)
- Switzerland Bank Account (Non-Resident)
- Cyprus Bank Account (Non-Resident)
- Belize Bank Account (Non-Resident)
- Georgia Bank Account (Non-Resident)
- Hong Kong Bank Account (Non-Resident)
- Bank Accounts for Non-Resident Freelancers
- Best Banks for Digital Nomads
- Bank Account for an Offshore Company
- FAQ