How To Set Up Foreign Bank Account

If you frequently travel, you may want to learn how to set up a foreign bank account. You can set up a foreign bank account easily as long as you have all the required information. The following guide will help you set up your brand new foreign bank account.

To set up a foreign bank account, you will need:

  • Proof of employment
  • Proof of residence
  • Travel visa, work permit or residency card
  • Passport
  • Money
  1. Check with your domestic bank to see if they have a deal with any foreign banks. If a deal exists, they will be able to help facilitate the creation of a foreign bank account.
  2. If your bank does not have a deal with any foreign banks, you will have to travel to the country where you wish to obtain a bank account. Choose a reliable bank that is best for you. Make sure you can either speak the language or talk to a representative who speaks English.
  3. When you have chosen the bank where you want to open an account, you need to ask what documentation is required to open a bank account. They will most likely ask for proof of employment and residence, your passport and possibly a residency card, travel visa or work permit.
  4. You may need to obtain an official stamp or have your documents notarized. If this is the case, ask the bank where to go to complete this step.
  5. Make copies of all of your documents and present them to the bank.
  6. If your documents are accepted, you may have to wait several days for processing before you are able to deposit your money into your foreign bank account.
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