10 Best banks for digital nomads

 If you are a digital nomad planning to embark on a digital nomad life for a year or so, you’ll need bank accounts.

Or, if you already have one, you might constantly be searching for an alternative bank account with the lowest possible exchange rates, international transaction fees, and excellent customer service. The struggle is real.

Choosing the best bank for digital nomads can be a daunting task. Digital nomads often have to deal with high international fees, ATM fees, and lousy customer support, to mention a few.

Setting up an account in a couple of minutes would be great. Also, who wouldn’t want their debit card delivered to their home for zero charges?

And there’s more to consider. Many things like this come into play when choosing a bank for digital nomads.

To make it easy for you, we’ve narrowed down the best banks for digital nomads and everything you need to know regarding payments as a digital nomad.

Ways to get paid as a digital nomad

 As a location-independent freelancer, business owner, or digital nomad, you will need to ensure that you choose the best way to receive payments from international clients.

Below are the ways to get paid as a digital nomad, starting with bank accounts.

 Bank Account

 As a digital nomad, opening an account in a local bank can be bothersome and unnecessary. In such a case, you can ask for payment to your home bank account via the SWIFT network.

Please note that you may have to pay the charge for an international transfer and the bank’s foreign exchange rate. 

 Wire transfers 

Another option to receive money is through international wire transfers. Wire transfers, also known as wire payments, refer to the electronic transfer of funds between banks or transfer agencies.

Wire transfer requires information like the receiver’s name and account number; most are completed in 2 business days.

 Wise (Used to be called TransferWise )

For borderless banking, digital nomads can opt for TransferWise with over 40 different currencies.

While most digital banks charges fees for international money transfer and currency exchanges, TransferWise comes with an excellent foreign exchange rate policy. You can also use TransferWise MasterCard for everyday payments.  


 PayPal is a great option for faster and more secure online payment across the globe. Thousands of nomads are using PayPal to receive money from international clients.

With PayPal, it is much easier and more convenient to withdraw money from anywhere in the world. But, there is a catch. It is not cheap.

The downside of using PayPal is the foreign exchange rates and high payment fees. 

 Digital Currencies: Crypto

 Last but not least is Crypto. Crypto, without intermediary fees, is considered the best option for international payments.

Many digital nomads accept cryptocurrencies like Bitcoin and Ethereum as payment options. And there are coffee shops and hotels that accept Bitcoin.

The only flipside of using crypto is the volatile crypto market that can cause a loss in just a day or minutes.

What to Look for When Choosing the Best Bank Account For Digital Nomads

Let’s look at the things to consider when choosing the best bank account for digital nomads:

Foreign Transaction Fees

It’s simple yet crucial to look for foreign transaction charges when choosing a bank as a digital nomad.

Simply put, a foreign transaction fee is a charge you have to pay for transactions processed in foreign currencies.

So, every time you pay with your debit card while traveling, the banks charge fees. 

Foreign fees are typically up to 3% of the value of the transaction. For every $100 you spend, you will pay $3.

Withdrawals from ATMs abroad also incur a foreign transaction charge. So before you open an account, double-check on the foreign transaction fees; always look for the banks that offer no such fees or lower fees.

Monthly fees

Many banks, but not all, will charge you monthly or annual fees for using their banking services.

The fee is usually a fixed fee that you pay each month.

In most cases, when you a monthly or annual fee for using a bank account, you ten to pay less for your cash withdrawal activities.

Cash Withdrawal Fee / ATM Fees

A cash withdrawal fee is the fixed transaction fee cardholders must pay when withdrawing cash from different banks’ ATMs outside their home country.

At times, digital nomads need to carry cash for payments, where cash is the only viable option. In such circumstances, they need to withdraw cash from a foreign bank ATM and are charged a certain withdrawal fee.  

Additionally, the home bank can charge them an extra fee, and they can feel ripped off.

Luckily, most banks do not charge a cash withdrawal fee, and some offer reimbursement for cash withdrawal fees.

With this in mind, digital nomads need to look for banks that do not charge withdrawal fees.

Mobile App

In the world of the banking system, a mobile app is a way of organizing finance on the go.

A mobile app can save a lot of time and keep stress at bay when traveling frequently.

A bank mobile app helps you transfer funds, make online payments, and perform all banking actions.

With just a few taps, digital nomads can send payments worldwide in seconds. Digital nomads prefer to sign up for banks that offer reliable, secure, and improved operation control mobile apps.

If you are planning to open a bank account, it is highly advised to read reviews and check the mobile app.

Worldwide Availability

It’s best to choose a bank that has worldwide availability. Imagine being in a country where you cannot use your bank card, and you’re stuck for nothing.

You cannot make online payments, withdraw or send money. You know what happens next!

For this very reason, digital nomads are suggested to choose a bank that fosters services in countries across the globe.

A bank with worldwide availability lets you use your debit card abroad without any issue and with zero foreign operation fees and withdrawal fees, as explained above. A bank with worldwide accessibility offers many beneficial features for easy and convenient use.

Customer Support

As with other considerations, you will want excellent and on-time customer support should there be any issues. Many banks assist 24 hours, 7 days a week, in multiple languages.

For instance, Monese Bank has multilingual customer service in over 14 languages. You can either talk to someone or chat online via the app or call them if necessary.

Customer support is useful in many unforeseen circumstances, like losing your bank card. In such cases, you should be able to connect with a bank that helps you straight away, no matter your location.

Which would be the bank that best fits you and your needs then? Here are the top 10 best banks for digital nomads:

Charles Schwab Bank

Quick Overview

  • Established Year: 1971
  • Minimum Balance: Zero
  • Eligible countries: Checking and savings accounts for American citizens only
  • Annual Fees: Zero
  • Cash Withdrawal Fees: Zero
  • Interest earnings – 0.05% on savings account

With over 30 million customers, Charles Schwab bank remains one of the leading banks for digital nomads.

This bank is arguably the best digital nomad banking solution for digital nomads and travelers from the United States.

Schwab offers an array of user-friendly tools and low-cost products to meet the multifarious needs of its customers.

One quality worth mentioning is that the top-notch Charles Schwab trading platform bestows an opportunity to invest and trade.

Charles Schwab is an excellent digital-nomad-friendly bank with top-three remarkable features:

  • no foreign operation fees
  • unparalleled 24/7 customer service
  • and refundable fees on all foreign ATM withdrawals

One of the perks of opening a Charles Schwab account is the unlimited rebates on international ATM fees and no foreign transaction fees.

ATM fee reimbursements save hundreds of dollars for long-term travelers.

You can always visit one of the more than 300 Charles Schwab branches. Call them on a stormy night, and they will be available to help you. 


  • No minimum deposit
  • No set-up cost
  • No deposit fee
  • Expert insights to help customers trade and invest
  • Great customer service
  • High level of investor protection
  • High-level account security
  • No monthly/yearly fee


  • Low-interest rates on savings accounts
  • High fees for some mutual funds
  • Hard-process to deposit money directly 
  • Only available to American citizens


Quick Overview

  • Established Year: 2015
  • Minimum Balance: Zero
  • Eligible countries: United Kingdom
  • Annual Fees: Zero
  • Cash Withdrawal Fees: depending on the country
  • Interest earnings – No spending fees

If you live in the UK, look for no other bank. Monzo is a favorite digital bank for nomads for UK citizens with coral-colored debit cards regulated by Financial Conduct Authority.

Launched in 2015, a fully licensed digital bank, Monzo bank has tons of features like saving pots, overdrafts, shared tabs, and salary savers, just to name a few. 

You will love the easy setup through their mobile app and have access to a free account setup from anywhere with no monthly minimum and free ATM withdrawals when traveling in the European Economic Area (EEA).

In non-EEA countries, you will be charged 3% if you withdraw an amount exceeding £200 once per month. Additionally, Monzo is lauded for its free foreign transaction feature. 


  • Unlimited free ATM withdrawals within the UK
  • Great customer service
  • No charge for opening an account
  • No mark-ups for spending abroad
  • No added fees to the exchange rate


  • 3% fee on overseas withdrawals over £200
  • Only available to citizens of the UK
  • No international payments
  • Maximum deposit threshold of £1000 every 6 months
  • Daily withdrawal limit


Quick Overview

  • Established Year: 2013
  • Minimum Balance: Zero
  • Eligible countries: Europe and USA
  • Annual Fees: Zero
  • Cash Withdrawal Fees: No fees within EU countries; elsewhere, it charges 1.7%
  • Interest earnings – Up to 1.15%

N26 is the name that often comes up when somebody says the best bank for digital nomads in Europe.

A German-based bank, N26 boasts a robust mobile platform that lets you manage your bank account on the go. N26 is a virtual bank with no physical branches, but customers enjoy 24/7 online customer service.

All finances are smoothly and securely managed through a mobile app. 

Recently, in January 2021, N26 celebrated whopping 7 million customers. Some remarkable reasons why digital nomads love N26 are no hidden fees, foreign transaction fees, no maintenance charges, and zero balance requirements.

This bank has a few different plans, but the free Standard plan is the most popular one for most nomads. 


  • Excellent 24/7 customer support
  • No set-up cost
  • Zero foreign transaction fees
  • No monthly maintenance fees
  • No currency exchange markup 
  • Zero foreign charges on card purchases
  • Offers a comprehensive travel insurance package with premium plans
  • User-friendly mobile platform


  • Exclusively available for European citizens
  • Reports of phishing fraud 
  • Credit cards are not available
  • No phone support
  • Fees for cash withdrawals in foreign currency


Quick Overview

  • Established Year: 2011
  • Minimum Balance: $20
  • Eligible countries: more than 65 countries
  • Annual Fees: Zero
  • Cash Withdrawal Fees: depending on the country
  • Interest earnings: Zero

Wise, previously Transferwise, with more than 13 million customers, is a popular choice among international digital nomads and expats.

People love Wise as it offers the lowest fees on global transactions and is considered the best alternative for PayPal. One significant feature of Wise is its borderless account that lets customers deposit money in over 50 different currencies with little to no international transfer fees for any bank-to-bank transfer.

Customers of Wise Bank do not have to pay monthly and set-up fees.

Nomads who work with international clients and receive international payments choose Wise over other banks. If you want to avoid international foreign transaction fees and poor conversion rates, sign up for Wise accounts and enjoy unmatched benefits.

Luckily, there are only a few countries where you cannot use Wise.  


  • Easy and quick sign-up
  • Excellent customer service
  • Super-low and transparent fee
  • Fast international money transfer service
  • 50+ currencies 
  • Lowest exchange rate
  • Cheaper international money transfers
  • High transfer limits, up to $1,000,000 per day


  • No savings account 
  • Unavailability of debit cards in all countries
  • Charge for a business account
  • The transfer takes a maximum of 2 to 3 days


Quick Overview

  • Established Year: 2015
  • Minimum Balance: $0
  • Eligible countries: EEA, Australia, Singapore, Switzerland, Japan, the United Kingdom, and the United States
  • Annual Fees: Zero
  • Cash Withdrawal Fees: Generally at no cost
  • Interest earnings – not at the moment

Revolut is a highly recommended bank by digital nomads for digital nomads. The innovative banking platform of Revolut entails smart budgeting features and one-time use credit card number services.

A unique highlight of Revolut is that it allows you to select up to five different currencies to withdraw from any ATM around the world with no hidden fees. But some digital nomad banking options are only available for certain countries.

Revolut’s banking service is gaining popularity every year, and there is a tremendous surge of customers using Revolut bank.

If you are into cryptocurrencies and all, you can invest and trade directly with the Revolut app with just a few clicks. Their robust security system, money management, and travel perks are second to none.


  • 24/7 customer support via live chat
  • Availability of storing multiple currencies
  • Travel and medical insurance policy on the premium account
  • Minimal ATM withdrawals fee
  • Provides physical MasterCard and a UK bank account
  • Free international bank transfer


  • Hidden fees and limitations
  • Charge on exchange rates
  • Poor customer service in comparison to competitors


Quick Overview

  • Established Year: 2005
  • Minimum Balance: Zero
  • Eligible countries: Worldwide
  • Annual Fees: $29.95
  • Cash Withdrawal Fees: $3.15
  • Interest earnings – Zero

Payoneer is an easy-to-use money transfer service with seamless, cross-border payments used by thousands of freelancers and online business owners across the globe.

If you are a digital nomad, chances are you have or had a Payoneer card to get online payments.

Arguably, Payoneer is the perfect option if you’re not eligible to open an N26 or Revolut account.

Some may find it surprising that Payoneer allows withdrawals to local bank accounts in more than 150 countries and multiple currencies.

One downside of Payoneer is exchange rates are slightly higher than its competitors like PayPal.

A maximum daily limit of $2,500 would concern many international travelers and digital nomads. Payoneer also offers holistic banking solutions for businesses for international payments.


  • Supports over 200 countries and 150 currencies
  • Easy to use, with solid security
  • No registration fees
  • Direct bank withdrawal
  • Free and accessible to anyone
  • Multilingual (over 35 languages) 24/7 Support


  • the exchange rate is quite higher than competitors
  •  $3 per transfer fees
  • Expensive pricing plans
  •  Daily limit of $2,500
  • Limited customer service
  • Fees for inactivity


Quick Overview

  • Established Year: 2014
  • Minimum Balance: Zero
  • Eligible countries: UK
  • Annual Fees: Zero
  • Cash Withdrawal Fees: None
  • Interest earnings –  0.05% AER variable on up to £85,000

Established in 2014, Starling Bank has over 470,000 UK businesses registered for business banking solutions.

Starling has a business account for companies and a personal account for individuals, including multiple options for freelancers.

This multi-award-winning bank is the best option for people living in the UK. Customers get to use ATMs freely with no extra hidden charges. 

Did you know Starling Bank won the “Best British Bank” award for four consecutive years?

With over 3 million accounts across the UK, Starling Bank claims that a new customer creates an account every 38 seconds.

Starling Bank loads several benefits for digital nomads, like saving goals, split bills, real-time alerts, no overseas fees, mobile wallets, mobile cheque deposits, and many more.


  • No monthly fees and oversea fees
  • 24/7 customer service
  • Free unlimited UK payments
  • Overdraft facilities
  • Instant payment notification and card-locking security
  • Protected by Financial Services Compensation Scheme


  • Only available for UK residents and UK-based travelers
  • 0.4% fee on international payments
  • £60 charge for lost card
  • Limited transaction of £300 per day
  • High loan rate
  • No Reimbursement for local ATM fees


Quick Overview

  • Established Year: 2013
  • Minimum Balance: Zero
  • Eligible countries: 20 countries
  • Annual Fees: Zero
  • Cash Withdrawal Fees: The first €200 per month is free, then withdrawals have a 2% fee
  • Interest earnings – 2.20% AER on their savings accounts

Monese is one of the best banks for digital nomads from Europe and the United Kingdom.

With an all-in-one, user-friendly app and budgeting tools, customers find it easy to use, access, and manage their banking transactions.

The contactless MasterCard debit card lets you withdraw money at worldwide ATMs without fees. They also offer a joint account for you to create an account with your partner.

Their super-convenient mobile app lets you manage everything online. 

Monese Bank has 3 plans to choose from (Classic, Starter, and Premium) and allows you to open in 3 different currencies: Euro, British Pound, and Romanian Leu. One cool feature of Monese Bank is that it is integrated with Paypal and Avios. Monzo, Starling, and Revolut are the 3 main alternatives to Monese Bank.


  • Six fee-free withdrawals from ATMs per month
  • Multilingual customer support in 14 languages
  • Offers savings pots
  • User-friendly app with budgeting tools
  • Affordable international bank transfers
  • Low foreign exchange fees
  • Integration with PayPal


  • 0.5% fee for foreign currency card spending
  • Exclusively for EEA residents
  • No overdraft fees or loans
  • Availability of Insurance on premium plans only
  • Limited features on free accounts
  • Not satisfying customer support


Quick Overview

  • Established Year: 1998
  • Minimum Balance: Zero
  • Eligible countries: Over 200 countries
  • Annual Fees: Zero
  • Cash Withdrawal Fees: $2.50 + 2.5% foreign transaction fee (for those eligible for a PayPal debit card)
  • Interest earnings – Zero

PayPal needs no introduction. It is one of the digital nomad banks PayPal is the world’s largest digital banking platform, with more than 392 million active users and over 426 million total accounts.

Citizens from over 200 countries can sign up for a PayPal account through the quick sign-up process.

You can make online payments anywhere with just a few clicks; rest assured, it’s simple and more secure.

Since its inception online, PayPal has been dominating the digital payment and money transfer scene in the world.

After Visa, Mastercard, American Express, and Discover, PayPal is the leading payment option for reliable banking payments.

You can create PayPal Personal Account or Business PayPal Account. If you don’t want to stick to PayPal, TransferWise is considered the best option.


  • No annual fees
  • Extremely User-friendly mobile app and website
  • Facility to review your transactions through the transaction page
  • Safe encryption feature
  • Special discounts to loyal customers


  •  High transactional fees than many competitors
  • Poor customer service
  • Charges fee for business uses
  • Can freeze accounts without warning
  • Probability of phishing and scams


Quick Overview

  • Established Year: 1812
  • Minimum Balance: Zero
  • Eligible countries: 20 countries
  • Annual Fees: $12
  • Cash withdrawal Fees: .75% transaction fee applied on non-Citibank ATMs
  • Interest earnings – 0.05%

Citibank, established in 1812, is one of the best digital nomad banks for Aussie travelers. Arguably, this bank is the only bank with whopping 2,300 branches worldwide and 60,000 ATMs throughout the US.

With a Citibank account, you get fee-free banking and no fees for ATM withdrawals and regular transactions worldwide.

The bank does not charge to transfer money between Citibank accounts worldwide. 

You must be an Australian citizen to open an account and visit one of the branches to validate your identity with an ID card.

Many features make Citibank stand out in comparison to other banks. The massive ATM network alone can be a winning deal for digital nomads to choose Citibank over other banks. 


  • No minimum deposit
  • No monthly fee and yearly fee
  • No foreign transaction fees
  • Fee-free international transfers
  • Over 60,000 ATMs throughout the US
  • Physical branches in many parts of the world
  • Offers many valuable features


  • Costly monthly fees in some cases
  • Charges service fees on premium plans
  • You must open both a checking and savings account
  • Low saving rates

7 Useful Tips to Protect your Digital Nomad Bank Account

Working remotely comes with lots of distractions and complications. If you are not careful, you could get hacked, or your laptop could get stolen.

You could literally lose everything if you don’t protect your digital nomad bank account. A small step can save you from catastrophe: here are some tips to protect your digital nomad bank account.

Use a strong password

We all have heard it’s important to use the strongest possible password, especially for bank passwords, to keep your account safe.

Make sure to use a password containing at least 12 letters with a combination of lower case, upper case, numbers, and symbols.

Don’t make the mistake of using common words, birthdays, personal names, or something easy to guess. It is also recommended to change your password every three months.

Always turn on the VPN protection

A VPN (Virtual Private Network) establishes a secure connection when browsing the internet, thereby making your connection secure against external cyber-attacks.

The best way to combat the threat of loss of information is to use a VPN service. With VPN protection on, your personal data, IP address, and password will be protected. 

Use two-factor authentication

It’s simple but one of the most powerful actions to save your digital nomad bank account. Two-factor authentication can neutralize the risk of password hacks and attacks.

It makes it almost impossible for a hacker to access your bank account without the code generated on your phone or email.

Avoid Public wifi networks

Identity theft and ransomware are common when using public wifi networks. Public wifi is considered an unsecured network, and logging in to your bank account is a big no.

If you are in dire need of using public wifi, don’t forget to use a VPN on your browser. Remember, it is a terrible idea to use public computers as well. If you have to use a public computer, always go incognito mode and never save anything when asked. 

Stay vigilant

Scammers are always on the move to target you and steal your data. More often than not we get to hear about unexpected data breaches. You must stay extra careful when working remotely.

Using a password generator, VPN protection, and storing data in cloud backup are some must-do actions as a digital nomad to secure your accounts and information.

If you notice fraudulent activity, take necessary steps against it, like contacting your bank, changing your password, or filing a police report.

Backup Data to the Cloud

Using the cloud to store your login credentials and important information is one of the best ways to protect your data and information for future reference.

In simple words, cloud backup safeguards your data and files and provides instant access whenever needed.

Besides, it’s almost impossible for hackers to crack into the cloud and gain access to your data.

 Don’t Share your card PIN

Don’t share your card 4-digit PIN or bank login information with anyone. Never in a million years!

Don’t share it with your siblings, friends, or even spouse.

You should be the only person to know your card pin. Hackers can devise a scheme that seems like a real deal and beneficial to you, asking for bank details.

Just remember that bank will never ask for your pin or login detail.

Only buy from trusted and secure sites

As a digital nomad in a foreign country, you will buy things, be it electronic items or books, or apparel.

Don’t just buy from any website, and fill in your card details. While buying online, anyone can fall victim to data theft or an online scam.

Before shopping online, make sure to place orders from a secure connection.

You can always check their reputation and reviews online and maybe ensure their site quality.

Don’t keep your accounts logged in

Admit it: you sometimes forget to log out when you’re done with your online banking.

Keeping your accounts logged in could put your security at risk. Make sure to log out on your smartphone banking app or website after you complete your transaction.

If you use public wifi, never keep your accounts logged in, or you better be ready to face the worst nightmare.

Update your software regularly

We often overlook this, but it’s not a good sign regarding protection and security.

Whenever you get push notifications about app updates, update and patch the software if you can. If you don’t do it, you’re welcoming hackers constantly searching for security holes to breach your data.

The bank often sends software updates for new features and security purposes. So, yes, update your software regularly.

Final thoughts

There are more banks ideal for digital nomad banking, but we found these 10 to be the best banks for digital nomads in terms of transferring money, free ATM withdrawals, receiving payments, and international transaction fees, to mention a few.

Hopefully, our selection of the best banks for digital nomads will help you choose the right bank for you and your business.