How to Open a Bank Account in Europe as an Expat (2026 Guide)

Moving to Europe is exciting — new city, new job, new life. But there is one administrative step that quietly touches almost everything else: opening a bank account. Your salary needs somewhere to land. Your landlord will probably want rent collected by direct debit. Your health insurer, electricity provider and phone company all expect a European IBAN for SEPA direct debits. Without an EU-based account, even simple everyday tasks can turn into paperwork marathons.

The good news is that European banking is more open to newcomers than many expats expect. EU law gives consumers a right to a basic payment account, and digital banks have made it possible to open an account in minutes from a phone. That said, the details still vary a lot from country to country. Germany's famous Anmeldung, France's strict proof-of-address rules and Spain's NIE number all catch newcomers by surprise.

This guide walks you through the whole process: the SEPA and IBAN basics, the documents you will need, how online banks compare with traditional branch banks, country-specific notes for the most popular expat destinations, and a practical step-by-step checklist. By the end, you will know exactly what to prepare before you apply.

SEPA and IBAN: the basics every expat should know

Before you compare banks, it helps to understand the system your money will move through. SEPA — the Single Euro Payments Area — is the network that lets you send and receive euros across 36 European countries as easily as a domestic transfer. A SEPA transfer from Berlin to Lisbon costs the same as a transfer within Berlin, and typically arrives within one business day. Instant SEPA transfers, supported by a growing number of banks, arrive within seconds.

Every account in the SEPA zone has an IBAN — an International Bank Account Number that starts with a two-letter country code (DE for Germany, FR for France, ES for Spain, and so on). Your IBAN is the key your employer, landlord and utility companies use to pay you or debit you.

Here is the part many expats do not know: under EU Regulation 260/2012, it is illegal for any company or public authority in the euro area to refuse a payment or direct debit just because the IBAN comes from another EU country. This practice has a name — IBAN discrimination — and it is against the law. Your employer in Munich must accept your Dutch IBAN. Your landlord in Paris must accept your German IBAN. Your electricity provider in Madrid must accept a direct debit mandate on a Belgian IBAN.

In practice, violations still happen — outdated payroll software or front-desk staff who simply do not know the rule. If it happens to you, politely point to EU Regulation 260/2012 and ask the company to escalate the issue. If they still refuse, every EU country has a competent authority where you can file a complaint, and consumer organisations can advise you. Knowing this rule before you arrive can save you from opening a second account you never actually needed.

Documents you will typically need

Banks are legally required to verify your identity — the EU's anti-money-laundering rules apply everywhere — so expect to show the following. Exact requirements differ by bank and country, but this list covers the usual documents:

• Valid identification: a passport, or for EU/EEA citizens a national ID card. Many digital banks verify you with a short video call or a selfie plus a document scan.
• Proof of address: a rental contract, a utility bill in your name, or an official registration certificate. In Germany this is the famous Anmeldung (Meldebescheinigung); in France banks often ask for a recent utility bill or tax notice. Requirements tend to be strictest in France and lightest at digital banks.
• Residence permit or visa: non-EU citizens are usually asked for their residence permit or long-stay visa. Some banks accept the visa in your passport; others want the physical permit card.
• Tax identification number: many countries issue one and banks ask for it — Germany's Steueridentifikationsnummer, Spain's NIE (which doubles as a foreigner ID number), Italy's codice fiscale, Portugal's NIF, the Dutch BSN. You can often open the account first and provide the number later, but some traditional banks insist on it upfront.
• Proof of employment or income: a work contract, payslips, or a letter from your employer. Freelancers and students may be asked for different evidence — an enrolment certificate, for example.

Tip: scan or photograph every document before you start, and keep both digital and paper copies. Digital banks typically let you upload everything during signup; traditional banks may ask you to bring originals to a branch appointment.

Online banks vs. traditional branch banks

You have two broad families of providers to choose from, and many expats end up with one of each: a digital account for daily life and a traditional account for mortgages, credit cards or investments later on.

Online and digital banks — N26, Revolut, bunq, Wise and similar providers — are built for borderless life. Signup usually takes minutes on a phone, support is typically available in English, and multi-currency features are standard. Their IBANs come from the country where they are licensed (German IBANs at N26, for example, Lithuanian IBANs at Revolut for many customers), which is completely fine thanks to the anti-IBAN-discrimination rule — though, as noted above, you may occasionally have to educate a payroll department.

Traditional branch banks — Deutsche Bank, Commerzbank, BNP Paribas, Société Générale, BBVA, CaixaBank, ING and others — offer the full relationship: in-person advice, cashier services, mortgages and established credit products. The trade-off is slower onboarding (branch appointments, more paperwork), monthly fees in some countries, and customer service that is often primarily in the local language.

There is no single right answer. A common expat strategy is to open a digital account on day one — or even before arrival — and add a traditional account once settled, when you actually need credit products or face-to-face service. Both can coexist happily, and SEPA transfers between them are free and fast.

Country-by-country notes

Banking culture differs more than you might expect across Europe. Here are the essentials for the most popular expat destinations:

Germany. The Anmeldung (address registration) unlocks much of German bureaucracy, and many traditional banks ask for the Meldebescheinigung. N26, however, famously lets you open an account before registration with just a passport and a European address — which is why it is a classic first account for newcomers. Monthly fees at traditional banks are common; digital banks often have free tiers. Cash is still widely used in parts of Germany, so check which ATM networks your bank supports.

France. Proof of address (justificatif de domicile) is taken very seriously; banks typically want a recent utility bill, rent receipt or tax notice, sometimes two documents. Online banks such as BoursoBank and Fortuneo offer genuinely low-cost accounts, sometimes with welcome bonuses, while traditional banks (BNP Paribas, Société Générale, La Banque Postale) charge monthly fees but provide extensive branch networks. Note that cheques are still used in France — a new account will usually come with a chequebook by default.

Spain. You will need an NIE (Número de Identidad de Extranjero), the foreigner identity number, for almost everything financial. Non-resident accounts are available at major banks such as BBVA and CaixaBank with just a passport, though fees are higher; once you become resident, switch to a resident account. Bank apps are generally good, but branch opening hours can be limited, with many branches closing in the early afternoon.

Netherlands. The BSN (citizen service number) functions as a tax and social ID, and employers need it for payroll; banks may ask for it too. bunq, the Dutch digital bank, is popular with expats, and the big banks (ING, Rabobank, ABN AMRO) all offer solid English-language onboarding in the major cities. iDEAL — the Dutch online payment system — is tied to your bank account and used almost everywhere online, so having a Dutch-compatible account matters for daily life.

Italy. The codice fiscale (tax code) is required for nearly every administrative step, including banking, and you can obtain one at the tax office (Agenzia delle Entrate) even before you are resident. Traditional banks (Intesa Sanpaolo, UniCredit) dominate and branch culture remains strong. Monthly fees (canone) are common, so compare the fee schedules.

Portugal. You will need a NIF (tax number), obtainable at Finanças — non-residents sometimes need a fiscal representative. Digital banks and the large Portuguese banks (CGD, Millennium BCP, Novo Banco) all serve expats; account fees are moderate and English support is decent in Lisbon and Porto.

Non-resident accounts: banking before you move

You do not always have to wait until you have a foreign address. Several providers let you open an account before you move:

• Wise offers multi-currency accounts with local bank details in euros (and other currencies) that you can open from your home country — useful for receiving a salary or paying a deposit before arrival.
• Revolut allows signup from many countries with a local ID, giving you a euro IBAN you can use immediately.
• N26 accepts applications from residents of many European countries and, for some nationalities, from abroad.
• Traditional banks in Spain and Portugal offer formal non-resident accounts (cuentas de no residentes) — handy for buying property or paying bills before you relocate.

A pre-arrival account solves the classic chicken-and-egg problems of moving: paying a rental deposit, receiving your first salary, or setting up utilities. Once you have your local address and tax ID, you can decide whether to keep it, add a local bank, or switch entirely.

Fees to watch for

European banking is generally affordable, but fee structures differ from what newcomers may be used to. Watch for:

• Monthly account fees (Kontoführungsgebühren, frais de tenue de compte): many traditional banks charge a few euros per month; digital banks often waive them on basic plans.
• ATM fees: free withdrawals are usually limited to your bank's network or a monthly quota; using other ATMs can cost a few euros per withdrawal, and withdrawing cash abroad adds more.
• Foreign exchange markups: spending or transferring in non-euro currencies can carry a markup of roughly 0.5%–2% above the mid-market rate at traditional banks; digital banks and Wise are typically cheaper.
• Overdraft interest: authorised overdrafts (Dispo in Germany, découvert in France) are common but interest rates are high — often in the low double digits per year. Avoid them if you can.
• Card fees: debit cards are usually included; credit cards may carry annual fees.
• Paper-statement and inactivity fees: some banks charge for paper statements or dormant accounts — opt for digital statements.

Always read the fee schedule (Preisverzeichnis / brochure tarifaire) before signing. EU rules require banks to provide a standardised Fee Information Document, so the key costs are comparable across providers.

Step-by-step checklist

1. Gather your documents: passport, proof of address (or registration certificate), residence permit or visa, and your tax ID if you already have one.
2. Decide digital vs. traditional — or both: if you need an account this week, start with a digital bank; add a branch bank later if you want credit products or in-person service.
3. Compare two or three providers: check monthly fees, ATM networks, English support and reviews from other expats.
4. Apply: complete the online signup or book a branch appointment. For video identification (common in Germany), have your passport and good lighting ready.
5. Verify your identity: video call, branch visit or postal identification procedure, depending on the bank and country.
6. Fund the account: make your first transfer — from Wise, Revolut or your home-country bank.
7. Set up the essentials: activate your card, enable the mobile app, and arrange SEPA direct debits for rent, utilities and insurance.
8. Give your employer your IBAN: remember, they must accept any EU IBAN — politely cite EU Regulation 260/2012 if anyone objects.
9. Register for linked portals if needed: some countries connect banking with tax IDs or government logins.
10. Review after three months: once you know your real usage (ATMs, transfers, travel), check whether your fee tier still fits — downgrade or switch if not.