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
- 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.
- 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.
- 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.
- 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.
- Make copies of all of your documents and present them to the bank.
- 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.