Today, the development of the Internet and the harmonization of EU regulatory policy have made the possibility of opening a bank account in a foreign country a reality.
In some countries, it is necessary to report accounts held abroad to tax authorities. However nothing is illegal here, and we will explain how to open a bank account abroad in our tax guides.
Preferate.com lists and compare EU financial institutions which offer:
Our comparator lists the different savings products available in Europe that match your search criteria (amount, time horizon, etc.).
The comparator allows you to read the product sheets which include a link to the bank’s website to open your account. At this stage, you will enter directly into contact with the foreign bank.
All listed banks offer service in English. If, by clicking on a link, you are redirected to a page in a local language, just switch back to English or contact the bank’s customer service.
In order to help you be as prepared as possible, let us review a few things you will need to open an account abroad in Europe. You may have to upload these documents online or to send them by email.
Any bank will require a primary proof of identify to open an account. This usually means a passport.
For fully distant operations, banks require a second confirmation of identify. This can be your national ID card, but some bank also accept other documents such as a driver’s license, birth certificate, etc.
Mobile phone number and email address are mandatory for all communication. Most banks offer electronic identification thanks to SMS.
Some banks require a simple bill from a commodity provider (e.g. phone), a payslip from your employer, or your tax return.
It is a possibility that you will need specific documents which do not exist in your country of residence. In this case, we will specify in our product sheet what you will need and how you can get it. If you need it, the bank’s customer service will guide you through these formalities.