Best Banks for Expats 2025: How to Choose and Avoid Hidden Fees

Traditional banks often require local addresses and steady income. For newcomers, that means roadblocks. Digital banks like Wise, Revolut, or N26 offer full online onboarding, EU IBANs, and instant cards—but they may lack full salary features.

Best strategy: keep one home account for taxes + one digital bank for daily life abroad.

Revolut – EU IBAN, multicurrency wallets, generous free plan. Cons: slow customer support, no cash deposits.

Wise – Low FX fees, local accounts in 10+ currencies, transparent pricing. Cons: no loans or overdrafts.

HSBC Expat / BNP International – Global support, mortgage options, premium services. Cons: high fees below €75k balance.

Boursorama / Hello Bank! – French IBAN for taxes and admin, good for French services. Cons: weak for FX and international transfers.

For more on opening accounts, see our step-by-step banking guide.

1. Prepare a valid passport and address proof (utility bill, rental contract).

2. Scan documents before signup.

3. Complete KYC verification (video call or selfie).

4. Activate account via test transfer of €10–20.

Expat tip: Open before you move to receive salary or rental deposits without delays.

FX conversion: always check real rate + margin. Wise = transparent, Revolut = weekend surcharges.

International ATM withdrawals: stick to same-network ATMs to avoid fees.

Premium subscriptions: unnecessary for most users unless you travel frequently.

Example: transferring €1,000 France → Switzerland: €3 on Wise, €10 on Revolut, €28 via traditional bank.

Register foreign accounts with tax authorities (form 3916-BIS in France).

Never share your IBAN publicly on forums.

Enable two-factor authentication on all apps.

Pro tip: Keep one French account for public payments (taxes, CAF, Ameli). Cross-border workers should check our France-Switzerland guide for specific banking needs.

Marie, 34, freelancer in Lisbon → Revolut + Wise for quick transfers, French taxes paid online.

Paul, cross-border Geneva–Annecy employee → BNP France + UBS Switzerland for salary and housing compatibility.

Sophie, retiree in Málaga → Boursorama + Wise for pensions + local payments fee-free.

✓ Valid ID or passport

✓ Proof of address < 3 months

✓ French or local tax number

✓ Proof of income (payslip, contract)

✓ Secure phone + email

• service-public.fr – Declaring foreign accounts

• Revolut vs Wise comparison (MoneyVox)