Best Bank Accounts for European Digital Nomads (2023)
There are a lot of things to consider when you’re a digital nomad, and your banking needs are one of them. Depending on where you are in Europe or around the world, the options for bank accounts will vary. So, what’s the best bank account for a digital nomad in Europe? Read on to find out.
Wise
A bank account that’s perfect for your digital nomadic lifestyle – with no markup on exchange rates, fast money transfer, and a variety of options for sending money.
Revolut
The perfect bank for digital nomads and travelers. Revolut makes it easy to manage your money overseas, while their high level of security keeps your money safe.
N26
With no monthly fees, free ATM withdrawals, and low exchange rates, N26 has everything you need and more.
Monese
A banking solution that offers a quick, simple setup and great exchange rates.
Monzo
A digital-only bank with a ton of features and great customer service.
1. Wise
Best Overall
Thomas’ Take
When it comes to choosing a bank account for your digital nomadic lifestyle, Wise is a great option. With no markup on exchange rates and a variety of options for sending money, it’s a fast and convenient way to manage your finances. Plus, its fast money transfer feature is perfect for those times when you need to send money quickly.
Two things to keep in mind, however: Wise charges higher transfer fees than some of its competitors, and it doesn’t offer any options for cash delivery.
But overall, it’s a great choice for managing your money while you’re on the go.
PROS:
- No markup on exchange rates
- Variety of options for sending money
- Fast money transfer feature
CONS
- No options for cash delivery
2. Revolut
Best for Travelers
Thomas’ Take
Are you a digital nomad or traveler looking for a great bank account? Revolut is one of the best banks for European digital nomads, offering great fees and benefits.
I use Revolut as my everyday checking bank account and subscribe to the Metal plan. This plan has saved me a ton on international fees, as I travel often. The app is also super easy to use, making it great for managing your money overseas.
In addition to great fees and an easy-to-use app, Revolut also offers a high level of security. With Revolut, you are in complete control of your security settings. This is a great feature, especially if you frequently travel or live in multiple countries.
PROS
- Virtual card
- 30+ foreign currencies
- Up to USD 1,200 per month of free international withdraws
- Excellent security
CONS
- Some users complain about customer support
- At some point, you’ll need to prove your income
3. N26
Voted ‘Best Bank in the World 2021’
Thomas’ Take
If you’re a digital nomad, you know that having a good bank account is essential. You need an account that doesn’t have monthly fees, offers free ATM withdrawals, and has low exchange rates. Enter N26.
N26 is the perfect bank for digital nomads, with all of the features mentioned above. Plus, their savings account is a great way to set aside money while you’re on the go. And if you’re traveling to 30+ countries, you’ll be happy to know that N26 is available in all of them.
The only downside is that they have a limited number of free ATM withdrawals, but other than that, N26 is the perfect bank for digital nomads.
So open an account today and start enjoying all the benefits that come with being an N26 customer!
PROS
- No monthly fees
- Low exchange rates
- Available in 30+ countries
- Great savings account
CONS
- A limited number of free ATM withdrawals
Best For
Euro-zone Digital Nomads
Trustpilot Rating
3.4
Supported Currencies
Euro-only
4. Monese
Simple and Quick Setup
Thomas’ Take
If you’re looking for a banking solution that offers a quick, simple setup and great exchange rates,
Monese is an excellent choice. With Monese, you can get a UK bank account without proof of residence or credit history.
Plus, there are premium subscription options available with extra privileges. However, keep in mind that Monese doesn’t have a banking license (so your deposits aren’t guaranteed) and there are monthly limits on ATM withdrawals, top-ups, and spending.
Additionally, customer support can be slow if you have questions that the chatbot can’t answer.
PROS
- Virtual Card
- Great exchange rates
- No proof of residence or credit history required
- Premium subscription options are available
CONS
- No banking license (so your deposits aren’t guaranteed)
- Monthly limits
- Slow customer support
Best For
People Without Proof of Residence or Credit History
Trust Pilot Rating
4.1
Supported Currencies
Euro-Only But Offer Multi-Currency Card
5. Monzo
All-in-One Solution for UK-Based Digital Nomads
Thomas’ Take
If you’re looking for a digital nomad-friendly bank that offers a full suite of features and great customer service, look no further than Monzo.
With a Monzo account, you can manage your money all in one place – and best of all, it’s free to open an account. While Monzo is only available to UK residents at the moment, it’s definitely worth considering if you’re based in the UK.
Some of the great features offered by Monzo include a banking license, deposit guarantee, direct debits, and standing orders. Plus, the app is super user-friendly and easy to navigate.
Cash deposits are also easy – simply head to a Paypoint and deposit £1. So why not give Monzo a try? You won’t be disappointed.
PROS
- Free to open an account
- Banking license, deposit guarantee, direct debits, and standing orders
- User-friendly app
- Easy cash deposits
CONS
- Only available to UK residents at the moment
- No IBAN (Can’t receive international payments)
So, Which One is The Best For You?
There is no one-size-fits-all answer when it comes to choosing the best digital nomad bank account. It all depends on your individual needs and preferences.
However, we hope this guide has given you a better idea of some of the best options out there. So take your time to research each one and decide which bank is the best fit for you. Thanks for reading!
