Open Your Online Bank Account in Europe Even Without Being a Resident

Opening a bank account in Europe outside your country of residence is completely legal, simple and free. Individuals, freelancers, investors, business owners, pay attention: with an address in Europe and a valid passport, you'll be able to choose your bank and receive your debit or credit card at your real home address. Opening an account at a bank abroad is completely legal. You are not defrauding the tax authority or the State if you decide to move part or all of your legally earned savings abroad. Currently you can hold accounts of up to €50,000 abroad without having to report them to your country's tax office. Holding one or several bank accounts outside your country of residence, or shares, ETFs or funds deposited with a foreign broker, is a legal and prudent way to avoid keeping all your savings in a single country. In general, the process to open a bank account abroad over the internet is very simple and always online, without having to send your physical documents. The first thing they ask you to do is fill in your details through several online forms. They then confirm your identity through a video call or by recording a video with your webcam or your phone's camera, so you'll need your passport in hand and it must be valid. Online banks in Europe may not accept an address outside the continent, and this in principle limits access for everyone outside Europe, such as Latin America. However, thanks to MDE, you'll be able to obtain your bank account in Europe with your European address. Once you finish your registration with the bank, they'll send the card(s) to our warehouse and then we'll forward them to your home address, no matter where in the world you are. Since MDE was born, we have helped hundreds of people manage to open a bank account in Europe and receive at their real home address the debit or credit card linked to the account. We make available to our readers some priceless information, the product of feedback from the very clients we have assisted. Our recommendation, without a doubt, is Wise, formerly called Transferwise, a financial company regulated by the UK's FCA (Financial Conduct Authority) that allows you to make transfers in multiple currencies and also offers its Borderless Account or multi-currency account. The Multi-Currency Account will allow you to receive payments from any of the countries it gives you an account number for:

• A British account number, IBAN and sort code;
• A European IBAN with its own SWIFT/BIC details;
• An Australian account number and a BSB code;
• A New Zealand account number;
• A US account number, bank routing number, bank code and ACH/ABA routing numbers;
• A Canadian account number, transit number and institution number;
• A Romanian bank code and an account number;
• A Singaporean bank code and an account number.
• A Hungarian bank code and an account number;
• A Turkish IBAN.

Your Wise multi-currency account includes a Mastercard debit card with which it's free to pay using the currencies you have active in your balances and to withdraw up to 200 pounds every 30 days from ATMs. A fee is charged only if you withdraw more than that amount and if you have to convert from one currency to another, between 0.35% and 2%. You'll be able to hold more than 50 currencies in your Wise account, not just those of the countries mentioned above. What's more, by signing up through this link, you'll save the transfer fee on your first €500. Remember that in order to register with this fantastic bank, it is mandatory to have an address in Europe, although your nationality doesn't have to be European; otherwise you may be able to complete the registration form if you're lucky, but they'll never open the account for you. If you want to obtain your European address to register with a bank, whether to receive the Mastercard debit card or to access the entire market like a local, you need to register with MDE. Another option we like to recommend is N26, a German bank that since 2019 has been offering its accounts in Spain with a Spanish IBAN, meaning it's a completely legal, normal and operational current account in Spain. N26 is a member of the German Deposit Guarantee Scheme, which guarantees deposits of up to €100,000 per holder in the European Union and per institution. N26 is a bank with no fees or requirements to open an account with them, you don't need to have a salary or pension or anything like that, and it will allow you to control all your expenses and income from your phone. An N26 Standard account includes a Mastercard. It lets you withdraw up to 3 times a month from any ATM in the euro zone without fees, and lets you pay with the card without fees in any currency in the rest of the world. If you withdraw from an ATM outside the euro zone you pay a currency exchange fee of 1.7%. Remember that in order to register with this fantastic bank, it is mandatory to have an address in Europe, although your nationality doesn't have to be European; otherwise you may be able to complete the registration form if you're lucky, but they'll never open the account for you. If you want to obtain your European address to register with a bank, whether to receive the Mastercard debit card or to access the entire market like a local, you need to register with MDE. Another interesting account, with a Lithuanian IBAN, is offered by Revolut. This is also an account centralized in its own app; until this year 2022 the accounts belonged to an electronic money institution, but since 2022 Revolut has become a fully regulated bank called Revolut Bank. Revolut accounts have a Lithuanian IBAN (which therefore starts with LT). In them you can hold euros, British pounds, US dollars, and many more currencies. You can open a free account with them and they only charge to send you the physical Mastercard to your home (€6); virtual cards have no cost. Remember that in order to register with this fantastic bank, it is mandatory to have an address in Europe, although your nationality doesn't have to be European; otherwise you may be able to complete the registration form if you're lucky, but they'll never open the account for you. If you want to obtain your European address to register with a bank, whether to receive the Mastercard debit card or to access the entire market like a local, you need to register with MDE. With the Revolut card you can spend in other currencies without paying currency exchange fees up to €6,000 per month; above that figure you'd pay only a 0.5% fee. With Revolut you can also invest in stocks and cryptocurrencies. Finally, with Monese you'll have an account with a Belgian IBAN (starting with BE). Anyone from the European Economic Area (European Union + others) can open an account. Monese has its own IBAN starting with BE, but it is NOT protected by the Deposit Guarantee Scheme (FSCS, The Guarantee Fund or Deposit Guarantee Fund); Monese operates as an agent of a British electronic money institution and of another European (Belgian) one. To open a Monese account you have to download their app and register in a few minutes. You'll need your passport in hand and valid, the ability to record yourself with your phone, a personal email and your mobile phone number. The Monese account is used only from your phone, not from the web. Remember that in order to register with this fantastic bank, it is mandatory to have an address in Europe, although your nationality doesn't have to be European; otherwise you may be able to complete the registration form if you're lucky, but they'll never open the account for you. If you want to obtain your European address to register with a bank, whether to receive the Mastercard debit card or to access the entire market like a local, you need to register with MDE. With Monese you can have a primary account in Euros or in Pounds, and a second account in the same currency, without having to pay twice. Monese may be the best option if you live/study/work or often travel to the United Kingdom. Keeping part of our savings abroad is a sensible way to diversify across different countries and banking systems. Whether you're in Antigua and Barbuda, Argentina, the Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Saint Kitts and Nevis, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, the Commonwealth of Dominica, Mexico, Nicaragua, Panama, Paraguay, Peru, the Dominican Republic, Saint Vincent and the Grenadines, Saint Lucia, Suriname, Trinidad and Tobago, Uruguay or Venezuela, you can receive your package in Europe and forward it to your country with MDE.