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Best bank accounts designed for expats Best bank accounts designed for expats

Best bank accounts designed for expats

Last updated: 22 November 2024 at 13:37

Which are the best expat bank accounts for British nationals living abroad?

Expat bank accounts are special accounts designed for people living an international lifestyle away from their home country. Many high street banks will offer specific international expat bank accounts, but will often have strict requirements for opening an account as a new customers and may also be restricted depending on the country of residence.

The list of expat banks below is what we believe to be some of the best options available for expats, but it is not exclusive.

We regularly research the market and have created a list of expat bank accounts available, which is available below. This list is not exhaustive and there may be other options available not included below.

This list does not constitute advice or recommendations in any way and you must always do your own due diligence before making a decision.

The banks listed below do not pay to be included in this list, but we may receive payment from the firms listed if you open an account. This is known as an affiliate link and is indicated with a * next to the company name.

SuitsMe *

Best for: No credit checks to open an account

Suits Me provides digital-only alternative banking solutions since 2015. Suits Me does not require proof of address or credit history as it wants to make a safe and secure banking service available to everyone. The Suits Me current account allows expats to: receive money, top up your account and spend using a debit card. Moreover, it allows you to earn up to 15% of cashback.

Perfect for people who

  • People who need a UK Bank account, but cannot provide a UK address
  • Open account in minutes
  • No credit checks or proof of address needed
  • Contactless Mastercard debit card
  • Customer service team via email and phone
  • Cashback offers

Important Facts

  • Minimum Balance
    No minimum
  • Country restrictions
    Information not available
  • Fees and Charges
    £0 / £4.97 / £9.97 per month options available
  • Application options
    Online

Wise Multicurrency Account *

Wise Multicurrency Account enables people to send and receive money in 23 different currencies, whether you need to receive your salary, pension payments or use a card for every day spending. While there may be some fees for receiving money in some currencies, it doesn't matter how much you are transferring, these fees are fixed and deducted from the total amount before you receive the funds.

Perfect for people who

  • People who need to set up a bank account in minutes
  • No commissions or % fees when sending or receiving money
  • Account details for over 30 different countries (including UK, Aus, US and NZ)
  • Physical debit card
  • Set up a digital card on Apple or Google

Important Facts

  • Minimum Balance
    No minimum
  • Country restrictions
    No restrictions
  • Fees and Charges
    Small fixed fees for some currency transactions
  • Application options
    Online

Moneycorp Personal Account *

Moneycorp provides a sleek and professional money transfer service, which screams reliability and value. A solid choice for anyone looking for confidence when sending money overseas. Simple, safe and secure international money transfers from a Feefo Platinum Trusted award-winning service.

Key facts

  • Competitive exchange rates and zero transfer fees
  • Feefo Platinum Trusted award-winning service
  • Dedicated account manager
  • Transfer funds online, by phone & in app 24/7
  • Dealing in foreign exchange since 1979
  • 120+ Currencies supported for both private individuals and corporate institutions
  • Fully licensed across the UK, EU and USA
  • Trustpilot rating: 4.6

Important Facts

  • Minimum Balance
    No minimum balance
  • Country restrictions
    Access to over 120 currencies
  • Fees and Charges
    No fees for foreign exchange rate and no monthly account fee
  • Application options
    Online

HSBC Expat Premier Account

The HSBC Expat Premier Account is an award-winning bank account available in sterling, dollars or euros. Included with the account is a debit card, a Foreign Exchange app as well as a complimentary travel security service. The account is access via 24/7 phone access, mobile banking app, online or a dedicated Relationship Manager.

Perfect for people who

  • People who already bank with HSBC
  • Need 24/7 telephone banking support
  • Regularly move country
  • Have a family
  • Regularly make international payments
  • Need to save in multiple currencies

Important Facts

  • Minimum Balance
    £50,000 deposit or £100,000 sole salary or are HSBC Premier in another country
  •  
  • Country restrictions
    You must reside or be situated in an eligible country
  •  
  • Fees and Charges
    No monthly or annual fee, but charges may apply with some transactions and transfers
  •  
  • Application options
    Online, Phone, Mobile App

Standard Bank Optimum Account

Opening an international bank account with Standard Bank is easy and within the reach of anyone wanting to expand their horizons. With a low entry point, the Standard Bank Optimum Account is your door to a world of international banking. Expats need look no further if they want the assurance provided by an established bank able to offer holistic banking solutions.

Perfect for people who

  • Need either a sterling, dollar (US and AU) or euro transactional banking account
  • Require flexibility across borders and access to FX, savings and lending services
  • Seek a safe repository for their finances
  • Frequent traveller
  • Studying, working or retiring abroad
  • Requiring an account to receive a salary
  • Favour digital solutions such as internet and mobile banking
  • Need a VISA card to make payments or to withdraw cash

Important Facts

  • Minimum Balance
    £5,000 (currency equivalent applies)
  • Eligibility
    Eligibility applies
  • Application Options
    Online, phone, post
  • Fees and Charges
    Quarterly maintenance fee (£60) applies should the average balance fall below the minimum balance per quarter

Lloyds International Current Account

Lloyds International Bank Account is designed for moderate earners who need easy access to their money when living abroad. The accounts are domiciled in either the Isle of Mann or Gibraltar and can be held in either £GBP, €EUR or $USD. Each account comes with a monthly fee and it is possible to hold multiple currencies in the account. If you earn less than £50,000 per year, you can also open an account if you have £25,000 to invest or save with Lloyds.

Perfect for people who

  • Earn over £50,000 per year
  • No significant savings or investments
  • Need to manage multiple currencies
  • Want internet and phone banking

Important Facts

  • Minimum Requirements
    £50,000 per year salary (or £25,000 as an initial deposit)
  • Country restrictions
    Depends on local laws and regulations regarding offshore accounts
  • Fees and Charges
    £7.50 per month (or €8/$10USD)
  • Application options
    Online, Phone

Lloyds Premier International Account

Lloyd's Premier International Account is designed for high earning expats who need to manage multiple currencies while living outside of the UK. The accounts are held in offshore accounts in either Gibraltar or the Isle of Mann. With the account there is also a dedicated relationship manager and worldwide travel insurance included. Account holders can also choose the currency of the account from either Sterling, Euro or US Dollars with a Visa debit card in the chosen currency.

Perfect for people who

  • Earn more than £100,000 per year, or
  • Have significant savings over £100,000
  • Want a private bank experience
  • Want to choose the currency of the account

Important Facts

  • Minimum Requirements
    £100,000+ salary per year (or £100,000 to deposit into a Lloyds saving account)
  • Country restrictions
    None, providing no regulations in your country of residence
  • Fees and Charges
    No monthly or annual fee, but charges may apply with some transactions and transfers
  • Application options
    Online, Phone

NatWest International Premier Banking

The NatWest International Premier Account allows account holders to manage your finances in multiple currencies, whether living in the UK and moving abroad or already living abroad.

Perfect for people who

  • Either earn £75,000+ per year or deposit £100,000 upon account opening
  • Require 24/7 online, mobile and telephone banking
  • Offshore account with multiple currencies
  • Regularly make international payments

Important Facts

  • Minimum Balance
    Either an initial deposit of £100,000 on account opening or have a minimum £75,000 annual income mandated to the account.
  • Country restrictions
    Must be resident on any one of: Austria, Bahrain, Belgium, Bermuda, Canada, China (Expats only), Denmark, Finland, France, Hong Kong, Kuwait, Norway, Oman, Qatar, South Africa, Sweden, Switzerland, United Arab Emirates, United Kingdom (Non-domiciled only) or the United States of America.
  • Fees and Charges
    No monthly or annual fee, but charges may apply with some transactions and transfers
  • Application options
    Online or Phone

Santander International Gold Account

Santander's International Gold Account is a current account offering Sterling, Euro or USD currencies which also provide account holders with a Visa debit card. Specifically for people who live abroad and are likely to move around the world, the Gold Account is great for people who are internationally mobile.

Perfect for people who

  • People who have a minimum £75,000 to deposit
  • Want an offshore bank account
  • Commission free currency exchange rates
  • Need both internet and telephone banking
  • Need a Visa debit card

Important Facts

  • Minimum Balance
    £75,000
  • Country restrictions
    Information not available
  • Fees and Charges
    No charges
  • Application options
    Online, Phone, Post

Disclaimer

Please note that we are not recommending any of the above accounts nor are we affiliated to any of the banks listed. We cannot be held responsible for out-of-date information contained on these pages or external websites we link to. For some of the accounts listed we receive a small fee if you proceed to open an account, but not all.

We try to keep this page up to date, however from time to time our information may be out of date. If you spot an error, or have some feedback about the products on this page please email us at advice@expertsforexpats.com.

We've also been instructed to remove one or two major international banks from this list due to overprotective brand police. For this we apologise.

Before making any decisions about your finances, you should always seek independent advice.