Before we had kids, we would travel internationally a lot. Twenty years ago, online banks were just starting to become mainstream so most of our options were brick and mortar banks.
I took some local currency with us but I also relied on the partnership between Bank of America (my bank) and Barclays. You could go to a Barclays ATM and withdraw cash without paying a huge fee – a nice little perk and there was even a Barclays ATM down the street from our friends' flat in Chiswick, London.
If you've ever traveled internationally, you know that you really try to rely on credit cards as your first option and cash as your second. These are great for tourists, but what if you're working too?
If you're a digital nomad, especially one that moves from country to country, you need a better option.
Since you're working remotely and travel regularly, it's hard to keep track of the different rules from country to country.
Unfortunately, traditional banks can't always meet the needs of digital nomads. However, some banking options fit the digital nomad lifestyle quite well.
Here are 16 of the best banks for digital nomads.
| Best For | Learn More | |
|---|---|---|
 | Travel credit card with a bank account | Learn More |
 | The avid investor nomad | Learn More |
 | Nomads search for saving and credit-building tools | Learn More |
 | High net-worth digital nomads | Learn More |
 | Digital nomads who work primarily in the U.S. | Learn More |
 | HSBC customers who travel frequently | Learn More |
 | Australia-based digital nomads | Learn More |
 | The European digital nomad | Learn More |
 | UK-based U.S. residents | Learn More |
 | Residents of qualifying European countries | Learn More |
 | Freelancing nomads | Learn More |
 | Nomads wanting to combine payments and banking into one | Learn More |
 | The globe-hopping nomad | Learn More |
 | Canada-based digital nomads | Learn more |
 | UK residents who prefer an online-only banking experience | Learn More |
 | Global multi-currency transfers | Learn More |
Capital One 360 Checking Account
Best For: Travel credit card and bank account combination
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: No
โ Fee-free accounts with no overdrafts or minimums
โ No charge for using debit cards or travel credit cards abroad
โ Venture Rewards Travel Credit Card rewards programs
โ No foreign transaction fees
โ Dismal interest rates on checking account
โ U.S. residents and citizens only
โ No multi-currency support
Pricing: $0 Monthly
The Capital One 360 Online Checking account can be a great choice for digital nomads looking for free banking and a travel credit card under one roof. There are no monthly fees or additional ATM or foreign transaction fees when you access your account outside the U.S. And, if you qualify, you can choose from a selection of Capital One Venture travel credit cards.
When you're not traveling, you can deposit cash by visiting a Capital One bank location, using a Capital One branded ATM, or making a cash deposit (with a fee) at a partner such as CVS or Walgreens.
The 360 Performance Savings account offers a competitive APY, making it a great place to store extra cash. Automated services are available 24/7, and live customer support is available from Sunday to Saturday, 8 a.m.-11 p.m. EST.
If you're outside the U.S. and need to report a lost or stolen ATM card, call 1-804-967-1000.
Charles Schwab Bank Investor Checking Account
Best For: The avid investor nomad
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: Yes
โ Zero minimums or fees including overdraft fees
โ 24/7 highly-rated customer service center
โ No foreign transaction fees
โ Unlimited ATM fee rebates for cash withdrawals worldwide
โ For U.S. residents and citizen nomads only
โ Short on travel and other perks
โ Only available to Schwab investment account owners
Pricing: $0 Monthly
The Charles Schwab Investor Checking Account might be worth considering if you actively invest through its online brokerage. There are no monthly fees or minimum balance requirements, and the account integrates with Zelle, Apple Pay, and Google Pay.
Best of all, you can access both your Schwab checking and investment accounts with a single login and transfer cash between the two within seconds, making it easy to invest on the go.
The account doesn't charge foreign transaction fees, and there are unlimited rebates for ATM cash withdrawals worldwide. This does not include POS transactions or non-local currency withdrawal (DCC) fees.
When leads the way when it comes to customer service. You can access live support 24/7, and the company has been named #1 in Customer Satisfaction for Checking Accounts among Direct Banks from J.D. Power for five consecutive years (2019-2023).
Chime
Best For: Nomads search for saving and credit-building tools
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: Yes
โ Simple, free digital bank accounts
โ Comprehensive mobile app
โ Credit building, saving, and budgeting tools
โ 24/7 customer support
โ No physical branch locations
โ No multi-currency support
โ U.S. residents only
Pricing: $0 Monthly
Chime is a fintech that was founded in 2012. Although itโs not technically a bank, it is backed by The Bancorp Bank and Stride Bank, so the funds you have on deposit are FDIC-insured on a pass-through basis.
Chime never charges foreign transactions fees, although merchants and vendors may charge them.
Chime has features that can help you save money and build credit, and you can make instant fee-free transfers between Chime members are also available. Other unique features include fee-free overdraft protection for up to $200 and the ability to receive your direct deposit two days early.
Chime offers a high-yield savings account, however, its yield is not as competitive as many other online savings accounts. Also, note that Chime is only available to U.S. residents.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visaยฎ Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank.
Citibank
Best For: High net-worth digital nomads
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: Yes
โ Premier services for higher net worth nomads
โ Discounts for mortgage and other partner services
โ Subscription reimbursements
โ Limited to no foreign fees, currency exchange fees, and more
โ U.S. residents only
โ Limited to nomads with a higher net worth
โ The lowest deposit level account comes with many fees
Pricing: $0 to $15 monthly (can be waived)
Citibank offers four different customer banking levels to choose from: Citi Everyday, Citi Priority, Citigold and Citigold Private Client.
While Citi Everyday has some nice features, the monthly fee ranges between $5 and $15, so youโll get a lot more for your money if you keep at least $30,000 on deposit with Citibank so you can qualify for one of the three no-fee higher banking tiers.
At those levels, youโll also get additional benefits including free currency exchange and shipping, toll-free customer service around the globe, Citi concierge services, zero foreign exchange fees and more.
Youโll also earn an attractive interest rate on your savings balance. Add a Citi travel credit card in the mix to take advantage of even more money savings and freebies. There are several great travel credit cards to choose from.
โจ Related: American Express Platinum vs. Chase Sapphire Reserve
Fidelity Cash Management
Best For: Digital nomads who work primarily in the U.S.
Monthly Fees: $0 | Foreign Transaction Fees: Yes | 24/7 Live Support: No
โ Attractive interest rate
โ Unlimited ATM fee reimbursements at qualifying ATMs
โ FDIC insured on a pass-through basis
โ Fidelity Rewards credit card comes with zero foreign transaction fees
โ 1% foreign transaction fee
โ Limited physical locations
โ Limited personal finance tools
Pricing: $0 Monthly
Fidelityโs Cash Management Account (CMA) can be used with a Fidelity brokerage account or as a stand-alone account.
The account functions like a checking account and comes with free checks, a debit card, and FDIC insurance for non-invested funds through one of its partner banks.
The Fidelity CMA offers unlimited ATM fee reimbursement as long as you use an ATM with the Visa, Plus, or Star logo on it. This account is also compatible with Apple Pay and Google Pay.
This account does charge a 1% fee for foreign transactions, making it less attractive unless you're a die-hard Fidelity customer or a domestic digital nomad.
If you travel globally, check out the Fidelity Rewards Visa credit card, which offers unlimited 2% cash back, no annual fee, and no foreign transaction fees. This will help you take advantage of all the Fidelity CMA offers while avoiding foreign transaction fees.
HSBC Global Money Account
Best For: HSBC Premier checking customers who travel frequently
Monthly Fees: $0 | Foreign Transaction Fees: Yes | 24/7 Live Support: Yes (for Premier customers)
โ Attractive travel credit card benefits
โ Competitive foreign exchange rates
โ Non-resident friendly
โ Other foreign services available
โ Account owners must have a U.S. address
โ Fee-waiving criteria is lofty for many
Pricing: $50 Monthly (waivable)
HSBC's Global Money Account is a mobile app-based multi-currency account available to HSBC customer who already have an HSBC Premier Checking, Premier Savings, or Premier Relationship Savings Account.
With a Global Money Account, you can convert and hold money in the following 8 currencies: AUD, CAD, EUR, GBP, HKD, SGD, USD. HSBCs foreign exchange rates refresh every 90 seconds to align with foreign markets.
The one downside is that HSBC's Premier accounts are pricey, and high deposits are required to avoid the fees. You need to have a combination of $75,000 in deposits and investments, $5,000 per month in Direct Deposits, or a mortgage loan with an original balance exceeding $500,000 to avoid paying the $50 monthly fee.
You may be charged foreign transaction fees on HSBC Debit Mastercard transactions, but most HSBC credit cards, such as the HSBC Premier Mastercard, do not charge foreign transaction fees.
ING Orange Everyday Bank Account
Best For: Australia-based digital nomads
Monthly Fees: $0 | Foreign Transaction Fees: No (if you meet monthly criteria) | 24/7 Live Support: Yes
โ 1% cash back on eligible utility bills paid from your ING account
โ High-yield interest rate on savings for eligible account owners
โ Up to 5 eligible ATM fees reimbursed each month
โ Monthly criteria must be met to gain access to full account benefits
โ Fees are a bit on the high side for those who donโt meet waiving conditions
Pricing: $0 Monthly (other fees may apply)
ING Bankโs Orange Everyday checking account can be a great choice for you if you reside in Australia or spend a lot of your time there.
The account boasts no foreign transaction fees and unlimited reimbursement of international transaction fees when you deposit at least $1,000 from any external source each month and have at least 5 completed debit card transactions each month.
Monese
Best For: The European digital nomad
Monthly Fees: ๏ฟก0 to ๏ฟก14.95 | Foreign Transaction Fees: Yes | 24/7 Live Support: No
โ Fast, easy account opening
โ No local address verification required
โ In-app budgeting tools and tips
โ Above-average customer support
โ Monthly fees for accounts with the most attractive features
โ No option for a separate savings account
โ Best for UK-based salaried employees or those who already have a UK-based bank
Pricing: ๏ฟก0 to ๏ฟก14.95 Monthly
Monese is Europeโs first fintech, launched in 2015. Today, the fintech services 31 European countries and makes it easy to open an account instantly, even if you don't have a local address quite yet. The Monese Simple plan is free of charge, and is available in the following currencies: GBP, EUR, RON.
Among its many traveler-friendly features youโll find multi-currency accounts, competitive exchange rates, and integrations for Apple Pay and Google Pay.
Monzo
Best For: UK-based U.S. residents
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: No
โ Fee-free currency exchange and conversion
โ Integrations with Google Pay, Apple Pay and more
โ 24/7 customer support
โ Easy-to-use app
โ U.S. and UK residents only
โ Savings pots donโt earn interest as of this writing
Pricing: $0 Monthly
Monzo is a fintech app that is FDIC-insured through Sutton Bank and helps you to organize your finances all in one place.
You can see your Monzo spending account, along with all of your other linked bank accounts and credit accounts, in one place. The app also helps you to set savings goals for everything from rent to vacations.
You can save money in Pots via roundups on spending or by designating an amount from each paycheck to go to savings. Note that Monzo also has an option for UK residents to open an account.
N26
Best For: Residents of qualifying European countries
Monthly Fees: โฌ0 to โฌ16.90 | Foreign Transaction Fees: No | 24/7 Live Support: No
โ Fast and easy account opening process
โ Sub-accounts and shared account spaces on paid plans
โ N26 Crypto feature
โ Customer support in several languages โ No foreign transaction fees
โ Limited features with the free account
โ Fee-free ATM access is limited
Pricing: โฌ0 to โฌ16.90 Monthly
N26 is a fully licensed bank with a German banking license. It is operational for residents of several countries, including Germany, Switzerland, Sweden, Austria, Ireland, Spain, Greece, France, and others.
This banking account makes it easy to bank across many European countries and currencies.
You can choose from four different N26 personal account plans and four business plans designed specifically for freelancers. Pricing is in Euros, with fees ranging from โฌ0 to โฌ16.90 monthly. N26 offers multi-currency accounts with free ATM withdrawals in Euros.
Payoneer
Best For: Freelancing nomads
Monthly Fees: $0 | Foreign Transaction Fees: Yes | 24/7 Live Support: No (Risk & Fraud dept. is available 24/7)
โ Wide-ranging multi-currency account
โ International payment processing
โ Widely accepted by vendors and business owners
โ Mastercard debit card available
โ Some additional fees can get costly compared to other options
โ No options for savings, budgeting, and other tools
Pricing: $0 Monthly
While Payoneer isnโt technically a bank, it does offer digital nomads a convenient way to send and receive money worldwide. You can send and receive funds across multiple currencies between other Payoneer customers for free, but fees apply to other transactions. Visit Payoneer for more information on fees.
Similar to PayPal, your clients can send you money through Payoneer for work you've completed. And you can send money to people and businesses as well. You can then transfer the funds you receive to your linked bank account in any number of partner countries.
Get a Payoneer Mastercard to access your funds and use the card anywhere Mastercard is accepted.
PayPal
Best For: Nomads wanting to combine payment processing and banking into one
Monthly Fees: $0 | Foreign Transaction Fees: Yes | 24/7 Live Support: No
โ Multi-currency exchange, sending and receiving options
โ Send money to friends and family members
โ Easy-to-use app and browser interfaces
โ Fees can be excessive
โ Debit card for U.S. users only
Pricing: $0 Monthly
PayPal is well-known for its payment processing benefits. However, you may not know that you can use PayPal to manage your spending and savings as well as send and receive money.
When you choose to do your banking with PayPal, you can access features such as a debit card, high-yield savings, early Direct Deposit, and crypto purchases. PayPal partners with The Bancorp Bank and Synchrony Bank to help keep your money safe.
One major drawback of PayPal is its high fees, especially for foreign currency transactions, such as converting money you've received into a foreign currency or making a purchase in a foreign transaction. Wise and Payoneer are much cheaper options for global multi-currency transfers.
Scotiabank
Best For: Canada-based digital nomads
Monthly Fees: $3.95 to $30.95 CAD | Foreign Transaction Fees: Yes | 24/7 Live Support: Yes
โ Account openings for soon-to-be-residents available
โ Wide array of available services and products
โ Attractive savings interest rates
โ Higher fees may apply for some products
Pricing: $3.95 to $30.95 CAD monthly, can be waived
Features
- $0 opening deposit requirement
- The minimum balance requirement varies
- Monthly fee varies (options to waive)
- No overdraft fees
- Attractive selection of travel credit cards
- Some of the highest savings yields available
Scotiabank is a major Canadian bank with a large presence in the Caribbean and Central America, which includes operations in 25 countries, 294 branches, and over 655 ATMs in the region. Like most traditional brick-and-mortar banks, Scotiabank's monthly fees are higher than most online banks.
Also, Scotiabank charges foreign transaction fees on debit card ATM withdrawals, although some Scotiabank credit cards waive foreign transaction fees on purchases. If you're a Canadian who plans to spend time as a digital nomad in the Caribbean or Central America, Scotiabank might be a suitable banking solution.
Starling Bank
Best For: UK residents that prefer an online-only banking experience
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: Yes
โ Fee-free international ATM withdrawals and card purchases
โ Real-time alert notification and card lock/unlock
โ Linked accounts for underage children available
โ Budgeting tools available
โ Lower daily limits in place for free ATM withdrawals
โ Overdrafts will cost you
Pricing: $0
Starling Bank is the UKโs premier challenger bank, and its current account can be a great option for digital nomads. The online-only bank offers fee-free international ATM withdrawal (daily limits apply), competitively priced international transfers, and mobile check deposits.
The account also pays competitive interest rates on balances, and customers can access a debit card made from recycled plastic.
Wise
Best For: High net-worth digital nomads
Monthly Fees: $0 | Foreign Transaction Fees: No | 24/7 Live Support: Yes
โ Competitive international exchange fees
โ Fast international transfers
โ Multi-currency account capabilities
โ Several options for adding funds
โ Limited ATM usage and some fees charged
โ Debit card order does come with a one-time fee
High net-worth digital nomads
Wise is last on our list, but certainly not least. Self-described as banking without borders, Wise is a fintech that serves 160 countries and 40 currencies. Wise's unique peer-to-peer transfer system enables it to offer users the mid-market exchange rate, which is significantly better than the exchange rate offered by most financial institutions.
If you're a business owner working with contractors worldwide or a freelancer who gets paid in multiple foreign currencies, then you'll want to consider Wise. On the other hand, if you frequent ATMs for cash withdrawals, this might not be the right account for you.
โจ Related: Where Can I Find a Foreign Currency Exchange Near Me?
What to Look For in a Bank for Digital Nomads
A bank for digital nomads caters to the needs of people who work remotely and do most of their banking online.
Digital nomads need online banking services and access to ATMs worldwide. It also helps to have international money transfer capabilities and in some cases, multiple currency accounts.
Of course, digital nomads, like the rest of us, prefer accounts with low fees and high-level security. The banks featured here strive to serve those of us who work and live a globe-trotting lifestyle. If youโre a digital nomad searching for banking options, here are a few things you should look for.
Bank-Level Security
Banking options for digital nomads should include bank-level security and options such as two-factor authentication. Other features to look for include real-time alerts and the ability to turn debit card access on and off at the touch of a fingertip.
Easy Access to Your Money
Another critical feature is the ability to easily access your money while traveling in other countries. Many banks on our list also offer credit cards for easy spending, and many don't charge foreign transaction fees when you make purchases outside of the U.S. And you want a bank that offers a debit card that you can use at thousands of ATMs worldwide.
Affordable Banking
Most online-only banks offer free banking without monthly maintenance fees or minimum balance requirements. Of course, some features, such as international wire transfers, will still cost money. The Capital One 360 checking account is a good example of an account that offers low-fee banking to digital nomads.
There are no monthly, foreign transaction, overdraft, or ATM fees. You can also open a credit card for convenient spending and earn a competitive APY with a 360 Performance Savings account.
Travel Rewards
Most banks offer some form of travel rewards through a travel credit card. But you can also choose a card that's separate from the bank you're dealing with. Travel cards allow you to earn valuable miles and points that you can redeem for flights, hotels, rental cars, and more. Many include additional travel-related benefits, such as complimentary travel insurance, airport lounge access, statement credits, and generous welcome offers.
Great Customer Service
With the big difference in time zones when traveling overseas, the number of hours you can reach a human customer service representative is very important. Look for a bank that offers 24/7 live customer support, including a chat option so you can reach your bank no matter what your waking hours look like.
FAQs
The answer to that question depends on many factors, such as your country of residence, financial situation and the types of features you need. See the summaries above to determine which account is best for you.
Check each banking optionโs security section to determine its level of security. However, most online banking options do have healthy security standards.ย
The best digital banks offer most of the services of a traditional bank, allowing you to spend and save, access funds via ATM, make mobile check deposits, pay bills, transfer funds, and even invest. Most digital banks have lower fees than brick-and-mortar national banks and offer higher APYs on savings. Unless you prefer banking in person or require services that a digital bank can't offer, you should consider a digital bank.
The Bottom Line
If you're a digital nomad or are planning to become one, it's essential to choose a bank that can help you manage your finances wherever your travels take you. We recommend choosing a bank that doesn't charge monthly or foreign transaction fees, is tied to a large global ATM network, allows international money transfers, and has responsive customer support. Multi-currency support and travel credit cards are other important features, though you can always get those separately if your bank doesn't offer them.
