Open-from-abroad accounts
All four below can be opened before you move, hold euros, and give you an IBAN a landlord or utility can pay against.
| Provider | Open before arrival? | Monthly fee | IBAN country | Deposit guarantee | Watch out for |
|---|
| WiseMulti-currency account |
Yes — from almost anywhere |
Free (conversion fees ~0.3-0.6%) |
Belgian IBAN (BE) |
Safeguarded, not deposit-insured |
Best-in-class for moving money across borders; some Iberian utilities still reject non-local IBANs — illegal under SEPA rules, but it happens. |
| RevolutEU: Lithuanian bank licence |
Yes — EEA/UK residents; changes country once you move |
Free-€17 by tier |
Lithuanian IBAN (LT); local IBANs (ES, FR, IE...) rolling out on paid tiers |
€100k EU guarantee (bank entity) |
Account country must match your residence — tell it when you move or risk a freeze. |
| N26German bank |
Partly — needs an address in a supported EU country |
Free-€16.90 by tier |
German IBAN (DE), local IBANs in ES/FR/IT |
€100k German guarantee |
Proper bank with a real guarantee; customer service is app-only and slow when things go wrong. |
| BunqDutch bank |
Yes — EEA + UK/US citizens moving to EU |
From €3.99 |
Dutch IBAN (NL), local IBANs (ES, FR, IE) on some plans |
€100k Dutch guarantee |
The "digital nomad" positioning is genuine — accepts applicants mid-relocation that others reject. |
Do you still need a local bank?
Usually yes, eventually — for these reasons, by country. Fintech first, local account within the first months.
Portugal: you'll want a local account (Millennium BCP, ActivoBank, Caixa) for the NIF-linked direct debits and because AIMA and landlords expect one. ActivoBank is the expat favourite: no monthly fee, English app, opens with NIF + passport. Some branches open accounts for non-residents before the move.
Spain: non-resident accounts (cuenta no residente) exist at Santander, BBVA, Sabadell — needed for property purchases before residency. Expect €0-€50/quarter fees unless you meet conditions. The NLV application accepts foreign statements, but utilities prefer Spanish IBANs.
France: notoriously slow account opening; a French IBAN is near-essential for rent, EDF, and the carte vitale reimbursements. Online banks (BoursoBank, Fortuneo) are free but often require existing French residency and tax numbers — start with a traditional branch, switch later.
Italy: a conto corrente helps with the codice fiscale ecosystem, but fintechs with Italian IBANs (N26, Revolut paid tiers) now cover most needs. Watch the bollo stamp duty (€34.20/yr) on balances over €5,000 at traditional banks.
Greece & Cyprus: local account required for FIP/Category F visa income remittance evidence in practice. Greek banks want a Greek tax number (AFM) first — get it before trying. Cypriot banks are used to non-resident openings but compliance checks are slow (weeks).
UK leavers: keep one UK account alive (for pensions, HMRC refunds, old direct debits) — but tell the bank you're moving. Several high-street banks closed EU-resident accounts post-Brexit; Wise or a UK e-money account is the fallback for a GBP footprint.