Best Banks for Expats - 2026 Update

Expats favor a wide variety of financial accounts while living abroad. What they prefer depends on a wide variety of individual factors, such as their destination country, their country of origin, the company they work for, the currency they are paid in, the balance they want to carry in specific accounts, and much more.

The firms listed below will help you understand what combination of expat banking services best suits your situation-specific needs. Expats should also carefully consider how expat tax and finance service providers can help you avoid penalties and rest easy knowing you have your financial house in order.

• Wise
• N26
• Revolut
• Remitly
• Payoneer
• Charles Schwab
• HSBC Global Money Account
• Chase
• Alliant Credit Union
• Navy Federal Credit Union (NFCU)
• State Department Federal Credit Union

New Banks and Money Service Businesses

There are all kinds of new banking service providers that do not fit in the traditional bricks-and-mortar category of banks. You'll read terms like "fintech," "neobank" and "challenger bank" among others. We'll avoid a deep dive into what all of those terms mean and simply provide some options that expats find particularly useful.

In a recent Expat Exchange podcast interview, expat finance expert Jake Barber of SJB Global made the point that most expats don't need anything exotic to bank well across borders. Asked which myth about offshore banking he'd most like to bust, he didn't hesitate: "You can have a bank account that provides you with multi-currency — whatever currencies you need, pounds, dollars, euros — and it can all be on the same account. It could even be a digital account. You don't really get benefits from an offshore account, and you're paying unnecessary fees." In other words, the multi-currency and digital accounts below cover what most people actually need.

Wise

Based in London, Wise boasts that it is available to use in 160 countries and 40 currencies, and that it is "the international account for sending, spending and converting money like a local." It's also free to setup and doesn't have any monthly fees. If you have friends and family who already have a Wise account, it's good to know that it's free to send money from one Wise account to another provided it's in the same currency, and you can use the physical card, Apple Pay, Google Pay, Samsung Pay and more. Wise describes itself as a money services business. Visit Wise to review more detailed pricing information.

N26

N26 is primarily a European bank account, and the default currency for its accounts is the Euro (EUR). N26 is a German fintech bank, and it primarily serves customers in the Eurozone. However, N26 has also expanded its services to other countries and offers multi-currency accounts and features that support transactions in various currencies. But the primary account and default currency for most users remain the Euro. N26 deprioritized the U.S. market in 2021, so U.S. expats seeking to maintain ties to the United States probably want to look elsewhere. Anyone primarily based in Europe definitely should evaluate their services to see if N26 is a good fit.

Revolut

Revolut is a fintech account provider from the U.K. that has been rapidly adopted by millions of people. It has many of the same features as Wise, but there seems to be consistent feedback that fees end up being slightly higher with Revolut, especially for larger transfers. That being said, both companies state that they charge mid-market exchange rates for most currencies. Location matters, as do the specific details of your situation and spending habits, so you should do your homework and understand how you're going to send, receive and withdraw money from ATMs in order to zero in on the difference between Revolut and other accounts.

Remitly

Remitly is a Seattle-based money services business built first and foremost for sending money to people — supporting family back home, helping out a relative, or paying someone in another country. It reaches more than 170 countries and over 100 currencies, with money arriving by bank deposit, mobile wallet, cash pickup, or even home delivery in some markets. That makes it a different animal from Wise or Revolut: those are multi-currency accounts you hold balances in and spend from, while Remitly is really a transfer rail for getting money from point A to a specific person at point B.

Two groups of expats tend to get the most out of it. The first is anyone who regularly sends money home to family. The second is freelancers and remote workers — Remitly now lets you request payments from clients in the U.S., U.K. and Canada and hold funds in a USD wallet, and Remitly Business can pay contractors and vendors abroad.

One honest note on pricing, because it trips people up: Remitly markets a "no fees, great rate" headline, but that best promotional rate generally applies only to your first transfer and up to a capped amount. Returning transfers move to Remitly's regular rate, which includes a markup over the mid-market exchange rate — roughly half a percent to a few percent depending on the speed and destination you choose. It's still frequently cheaper and faster than a traditional bank wire, but, as with every option here, plug your specific corridor and amount into the app before you commit.

Payoneer

Payoneer is worth knowing if your move abroad is tied to remote work, freelancing, or running a small cross-border business — which describes a growing share of today's expats. It's a common way to get paid by marketplaces and platforms like Upwork, Fiverr, Amazon and Airbnb, and it gives you local receiving account details in several major currencies (USD, EUR, GBP and more) so clients can pay you as if you had a local account in their country.

You can hold multiple currencies, pay other Payoneer users instantly, withdraw to a local bank, and spend with a linked card. Where it shines is receiving money from international clients and platforms; where it's less of a fit is everyday banking or simple person-to-person transfers, which Wise or Remitly generally handle more cheaply. For a digital nomad whose income lands from a dozen different countries, though, it's often the account that ties everything together.

One quick aside before we get to investment and traditional options: this guide is about accounts and everyday money movement, but if you're transferring a large one-time sum — buying a home abroad, moving a pension, or shifting the proceeds of a property sale — the banks and apps above are rarely your cheapest route. Specialist currency brokers such as Currencies Direct and OFX exist for exactly this. They assign you a dealer, can lock in a rate ahead of time with a forward contract, and typically beat a bank's exchange rate on five- and six-figure transfers. They're not where you'd keep your day-to-day money, but for the one big move, they're worth a quote.

Investment Banking Services

Many investment services have savings and checking accounts that expats might find useful in combination with other services that help them move money around as needed while living abroad.

Charles Schwab

Charles Schwab regularly comes up as a favorite option for U.S. expats living around the world. This is usually in relation to the reimbursement of ATM fees, which can add up quickly in certain locations and depending upon the institution where the ATM is located.

Schwab promotes the following features as being advantageous for U.S. expats: Convenient access to your money through U.S. dollar–denominated checks, debit cards, and Schwab's electronic funds transfer service. Competitive rates of exchange when transitioning from the U.S. dollar to another major currency, and vice versa. Simplified U.S. tax reporting due to all accounts being U.S.-domiciled dollar accounts. Clear online reporting and a 1099 form to help IRS filing. A Schwab Visa debit card that can be used at any ATM in the world, and Schwab will refund the fees.

Traditional Banks

There are still a considerable number of expats who want to know they have the peace of mind they get from being able to walk into a traditional bricks-and-mortar bank. Again, it is possible to have the best of both worlds. Here are a few to consider if you would like to be able to sit down with someone in a bank branch and rely upon the personal service they offer.

HSBC Global Money Account

HSBC has been in the expat finance industry for a long, long time. That doesn't necessarily mean that it's going to be your best option, though. It promotes that the HSBC Global Money Account enables you to hold up to 19 currencies in a single account, enjoy HSBC's best foreign exchange rates, pay no extra cost to open or hold your Global Money Account, transfer in up to 58 currencies with no HSBC fees to pay, and manage everything from your mobile device. Some monthly fees and fees on international transactions are a non-starter for some, as is an exchange rate update lag compared to other options, but some expats want the security of having a branch near them. If that's you, HSBC is a good choice.

Chase

Expats living in the United States might find Chase to be a great option, as it is the largest bank in the U.S. and offers a range of options for various situations. That means there are more than 4,700 branches and more than 16,000 ATMs in the United States. It provides access to Zelle, and fees can be waived if you meet specific conditions that vary depending on the account you open. U.S. expats moving around the world will find plenty of ATMs in most countries, but will need to carefully examine fees depending on the Chase account you opened. The Chase Sapphire Preferred credit card, for example, has no foreign transaction fees.

Credit Unions

Expats working for the government or who already have accounts with credit unions will want to explore maintaining their accounts or opening new ones. Here are three that fit into that category.

Alliant Credit Union

Here are some notes from the Alliant Credit Union website.

Non-U.S. residents "can become a member of Alliant if you live outside the United States, but only if you have either a Social Security number or an unexpired Individual Taxpayer Identification Number."

Alliant Visa debit cards can be used internationally, and "Alliant reimburses up to $20 monthly for out-of-network ATM fees," including those incurred while abroad. Additionally, all "international purchases and ATM withdrawals will incur an International Service Assessment fee of 1%."

Navy Federal Credit Union (NFCU)

Membership in the Navy Federal Credit Union is "open to the armed forces, the Department of Defense, veterans and their families."

Its website notes that members will not be charged an ATM access fee when they use International Navy Federal and CO-OP ATMs. These are located primarily on U.S. military bases.

Additionally, an International Assessment fee of 1% may be assessed at some CO-OP ATMs.

Other fees may be incurred at other financial institutions when you use their ATM, and between $10–$20 may be offered as a rebate depending on the account you choose. It's important to research this with Navy Federal Credit Union before selecting the best option for your individual situation. As there is a limit on reimbursement, plan your withdrawals carefully to avoid unnecessary fees.

State Department Federal Credit Union

The State Department Federal Credit Union's banking services provide its members with some excellent benefits.

There are three levels of checking accounts to choose from.

State Department Federal Credit Union Membership is available to anyone affiliated with the U.S. State Department via direct employment, family members of employees, some employment groups, the American Consumer Council, and others.

Additionally, you can investigate local banks near you to see how they may or may not work to your advantage. Again, some expats like to have a physical branch where they can walk in and get help if they need it. Some expats use this option to move money into a local bank so they can pay their bills.

Some expats describe successfully convincing their landlord, for instance, to sign up for Wise so they can easily make rent payments.

It will all come down to the specific accounts and services you currently have and the ones you will need to add in order to meet your needs while living abroad. Post questions on our expat country forums to get advice about experiences other expats have had managing their finances. You'll see that there are often debates about what works best, further demonstrating that one size does not always fit all when it comes to managing finances.

Importantly, all U.S. expats should familiarize themselves with FATCA, which stands for the Foreign Account Tax Compliance Act, and FBAR, which is the Report of Foreign Bank and Financial Accounts.

Those rules have real teeth at the account level, not just at tax time. As Jake Barber explained in his interview, "a lot of institutions won't want to deal with Americans due to the FATCA rules." He regularly sees U.S. expats whose 401(k) or brokerage providers give them 90 days to move their balance after a change of address abroad — or have the account closed — which can trigger an avoidable tax bill. Getting ahead of that is exactly the kind of cross-border planning worth doing before you move, and it's where a specialist like SJB Global can help; you'll find them in our expat financial planning resource guide.

Most expats learn that they need guidance to navigate all of the financial complexities involved with crossing borders. Our resource guide can help you find an expat tax and finance service provider that best suits your needs.