Opening a bank account in your new country is usually one of the first things to sort out after arriving. It is also one of the most underestimated. Between local banks that ask for documents you do not have yet, neobanks accepted everywhere except for paying your rent, and French tax obligations that most expats are unaware of, there is quite a lot to anticipate. This guide covers the options available in 2026, the documents you need to prepare, and the pitfalls to avoid.

This article focuses on personal bank accounts. If you are running a freelance activity or setting up a structure abroad, read our dedicated guide: opening a business bank account abroad.

Why open a local account rather than keeping your French one

The limits of a French account abroad

Keeping your French account is perfectly possible, and many expats do so at the start. But you will quickly run into its limits.

The first issue is currency conversion. If you earn or spend in local currency (dirhams, Georgian lari, Brazilian reais…), every transaction from a euro account costs you conversion fees, typically between 1.5% and 3.5% depending on your bank. Over a year, that adds up quickly.

The second issue is local acceptance. Some landlords require a local bank account number for rent direct debits. Some local employers only pay into accounts held in the country. Certain public services or subscriptions refuse foreign cards. A French account may cover day-to-day purchases, but it does not replace a local account over time.

The third issue is practicality. International transfers take longer (1 to 3 business days), incur fees, and can trigger unexpected fraud checks. Receiving a local salary into a French account is not always possible or straightforward.

Most expats who settle long-term end up with the same setup:

  • A local account for everyday use (rent, bills, local salary, administrative dealings)
  • A multi-currency neobank (Wise or Revolut) for travel, international purchases, and cross-border transfers
  • The French account kept open if you still have income, direct debits, or savings in France

This combination covers almost every situation without excessive fees.

Neobanks: convenient but not enough on their own

What they do well

Wise, Revolut, and N26 are the three neobanks most widely used by expats. Their main advantage: account opening is entirely online, takes a few minutes, requires no physical presence, and no local proof of address. You have an IBAN within hours.

Key strengths:

  • Wise: hold 40+ currencies, convert at the real market rate (no or very low margin), low-cost international transfers, Visa card accepted worldwide. Widely used for receiving payments in multiple currencies.
  • Revolut: free and paid plans (Metal at €13.99/month), currency exchange without fees up to a monthly limit (€1,000 on the free plan), virtual cards, travel insurance included on Premium and Metal plans.
  • N26: German IBAN, clean interface, decent free plan, paid plans with travel insurance. Less multi-currency-focused than Wise or Revolut, but closer to a traditional bank in everyday use.

Their real limitations

Neobanks are not recognised as “full” banks in all local contexts. Situations where they fall short:

  • Rent: many landlords, particularly in Spain, Georgia, and Portugal, refuse a Wise or Revolut IBAN for monthly rent direct debits. They want an IBAN from a locally regulated bank.
  • Administrative processes: some official procedures (long-stay visa application, affiliation to local social security, opening a local savings account) require proof of an account at a locally licensed institution.
  • Credit: obtaining a mortgage or consumer loan almost always requires a local bank account with a transaction history.
  • Spending limits: free plans cap withdrawals and exchanges. On free Revolut, fee-free cash withdrawals are capped at €200/month. Beyond that, fees apply.

Neobanks are an excellent complementary tool. They do not replace a local bank account if you are settling long-term.

Opening an account at a local bank

Common requirements

Local bank requirements vary by country, but several documents come up almost everywhere:

  • Passport or valid identity document
  • Local proof of address: utility bill (electricity, gas, phone) or signed lease in your name. This is often the hardest document to obtain in the very first weeks.
  • Valid visa or residence permit: long-stay visa, resident card, or residence permit depending on the country
  • Local tax number: NIF in Portugal, NIE in Spain, Georgian personal identification number, TRN in Dubai… This number is often required before you can open an account
  • Proof of income: employment contract, recent bank statements, tax notice. Some banks set a minimum income threshold for non-residents.
  • Physical presence: in the majority of local banks, the first account opening requires you to visit a branch in person with original documents

The exact list varies by institution and country. Check directly with the bank you are targeting before travelling to a branch.

Realistic timelines

Depending on the country and the bank, opening a local account takes between 1 day (Georgia, some local digital banks) and 3 to 6 weeks (eurozone countries with strict compliance processes). In Spain and Portugal, the average timeline is 1 to 3 weeks once all documents are in order.

The non-resident scenario: harder, but not impossible

The main difficulty

If you are trying to open an account before you have your residence permit or local address, you fall into the non-resident category. Many European banks simply refuse to open accounts in this situation, or impose very restrictive conditions (high minimum deposit, significant annual fees).

More accessible countries

Some countries are significantly more flexible for non-residents:

  • Georgia: moving to Georgia is one of the easiest contexts in the world for opening a bank account. TBC Bank and Bank of Georgia open accounts for foreign non-residents on presentation of a passport alone, sometimes the same day. Accounts are often multi-currency (GEL, EUR, USD). This is a key reason why Georgia is so popular with digital nomads.
  • Dubai: in Dubai, opening an account requires a valid residence visa, but the process is then fast and well-established. Banks such as Emirates NBD, Mashreq, and ADCB have branches experienced with expats.
  • Portugal: since 2023, some banks (notably Millennium BCP) have relaxed their conditions for EU non-residents, but documentation requirements remain high.
  • Eurozone in general: access to a basic payment account is a right in Europe (the Payment Accounts Directive), but this basic account is usually very limited in features.

Stricter countries

Spain, Germany, the Netherlands, and France (for foreign non-residents) are known for lengthy processes and strict documentation requirements, particularly around KYC (Know Your Customer) compliance. Budget several weeks and expect several exchanges with the bank.

Documents to prepare: the full list

Before visiting a branch or starting an online application, gather:

  1. Passport in date (original + copy)
  2. Visa or residence permit for the country (original + copy)
  3. Local proof of address: signed lease + two rent receipts, or a utility/phone bill in your name (less than 3 months old)
  4. Local tax number: find out in advance how to obtain it in your host country
  5. Proof of income: last 3 pay slips, or bank statements for the last 3 months, or a local employment contract
  6. Passport photo (some banks still require one)
  7. Tax residency form: some banks ask for a declaration stating your country of tax residence, linked to CRS obligations (see the section below)

Having these documents ready upfront significantly reduces back-and-forth and delays.

Tax obligation: declare your foreign accounts

This is the point most expats overlook, sometimes through lack of awareness, sometimes believing it does not apply to them. It does.

The 3916 form in France

If you are a French tax resident (which can remain the case for several years after your physical departure if you still have significant fiscal ties to France), you are required to declare to the French tax authority, each year, every bank account held abroad — including foreign neobank accounts such as Wise or Revolut if their registered office is outside France.

The declaration is made using form 3916 / 3916-bis, available on impots.gouv.fr. It must be attached to your annual income tax return.

The fine for forgetting or omitting a declaration is €1,500 per undeclared account (or €10,000 if the account is in a non-cooperative jurisdiction). This is not an optional administrative formality.

To check whether you are still considered a French tax resident, consult the criteria on service-public.fr.

CRS and automatic information exchange

The Common Reporting Standard (CRS) is an international agreement organising the automatic exchange of banking information between member countries. In practice: your foreign bank reports your account to the tax authorities of the country where you declared you reside, which can then share that information with France if you remain a French tax resident.

More than 100 countries participate in CRS in 2026, including Georgia, Spain, Portugal, and the United Arab Emirates. Georgia joined the framework in 2023. Dubai has also been exchanging information under CRS since 2018.

In short: do not count on opacity to justify not declaring. The system is designed to ensure information flows through.

Comparison: neobank vs local bank

Criterion Neobank (Wise, Revolut, N26) Local bank
Opening timeline A few hours to 48h, fully online 1 day to 6 weeks depending on the country
Physical presence required No Yes, in the majority of cases
Local proof of address required No (residential address sufficient) Yes, usually mandatory
Accepted for rent / local admin Rarely Yes
Monthly fees €0 to €13.99/month depending on plan €0 to €20/month depending on country and bank
Multi-currency Yes (major advantage) Rarely (local currency account)
Access to local credit No Yes (after building a transaction history)
International travel use Excellent Limited (currency conversion fees)

Pitfalls to avoid

Pitfall 1: hidden transfer fees

Local banks often charge fixed fees plus a conversion margin on international transfers. A €1,000 transfer from a Spanish bank to France can cost between €5 and €25 depending on the institution. Check the fee schedule before opening the account.

Pitfall 2: account blocked or closed without notice

Some banks close accounts held by non-residents if your residency status changes (return to France, change of visa). Make sure you understand the contractual terms, particularly unilateral closure clauses.

Pitfall 3: overlooking conversion costs on daily spending

A local currency account avoids exchange fees on your everyday purchases. If you pay in euros from a French account in a non-eurozone country, you pay a conversion margin every single time. Over a year of expenses, this easily amounts to €200 to €500 depending on your cost of living.

Pitfall 4: confusing IBAN with a locally valid account

A Wise IBAN often starts with BE (Belgium) or LT (Lithuania). A Revolut IBAN may start with GB (United Kingdom). Some local organisations (landlords, employers, public bodies) refuse these non-local IBANs, even though they are technically valid within the SEPA zone. Verify case by case before sharing a neobank IBAN for local administrative purposes.

Pitfall 5: forgetting to declare the account to the French tax authority

See the dedicated section above. This is the most expensive pitfall, with fines of €1,500 per undeclared account.

Tips by profile

Digital nomad (multiple destinations, stays of 1 to 6 months per country)

Wise or Revolut Premium covers almost all your needs. You do not need a local account in every country you pass through. Keep a French account as your reference account for income if you have French clients. Declare your Wise/Revolut accounts if you remain a French tax resident.

Long-term resident (settling for 1 year or more)

Open a local account as soon as you have your residence permit and a fixed address. It is essential for rent, subscriptions, and administrative dealings. Keep Wise or Revolut for travel and international transactions. For accessible destinations, see our guides: Portugal, Spain, Georgia, Dubai.

Recent arrival (first month in the country)

In the short term, Wise or Revolut cover everyday spending while you wait to have your local address and tax number. Prepare your documents from the first weeks to avoid delays when opening the local account. See our moving abroad checklist to make sure nothing is missed.

For a complete overview of everything involved in settling abroad, read our main guide: living abroad.

Frequently asked questions

Can I open a bank account abroad without living there?

Yes, in some countries. Georgia is the most accessible: TBC Bank and Bank of Georgia open accounts for foreign non-residents on passport presentation alone, sometimes on the same day. In most eurozone countries, it is much harder — banks require local proof of residence and a valid residence permit. Neobanks (Wise, Revolut) are the most effective fallback if you do not yet have a local address.

Does Wise count as a real bank account for a landlord?

In most cases, no. Wise is a licensed payment institution (not a bank in the strict sense in all countries), and many landlords and letting agencies refuse a Wise IBAN for rent direct debits. They prefer an account number from a locally regulated bank. This is one of the main reasons to open a local account as soon as possible.

Should I close my French account if I move abroad?

No, and it is not advisable. Keep your French account if you still have income, direct debits, or savings in France. Closing a French account can complicate certain administrative processes (repatriating money, rental income, taxes). Do notify your French bank of your new address to remain compliant.

How do I declare my foreign account to the French tax authority?

The declaration is made using form 3916 / 3916-bis on impots.gouv.fr. You enter the bank’s details, the account number, and the opening date. This form is attached to your annual income tax return. Each account held abroad (including Wise or Revolut accounts if their registered office is outside France) requires a separate declaration.

Opening a bank account abroad is not an instant formality in most countries, but it is an essential step if you are settling long-term. Anticipate the documents, combine a neobank and a local account based on your needs, and above all, do not forget the obligation to declare to the French tax authority if you remain a French tax resident.

For more on the administrative steps involved in relocating, see our moving abroad checklist and our main guide to living abroad.

For banking specifics by destination:

The conditions and timelines stated in this guide are valid as of Q2 2026. Bank requirements change regularly: always verify directly with the institution you are targeting before proceeding.