Best Banking Options For Digital Nomads that Do Not Require Residency in 2023


For a full time traveler, one of the worst feelings in the world is having to constantly worry about money. Furthermore, even if you have plenty of funds on your account, it’s still a drag to ask yourself whether or not you’ll be hit with extra fees for using ATMs in foreign countries. From one digital nomad to another, trust me, you’d want to avoid this altogether.

Best Banking Options for Digital Nomads

That’s why we came up with this article to figure out the best solution once and for all. So, if you ever wanted to find out what banking option fits the digital nomad lifestyle just right, be sure to read the full article. Without further adieu, let’s begin.

That’s why we came up with this article to figure out the best solution once and for all. So, if you ever wanted to find out what banking option fits the digital nomad lifestyle just right, be sure to read the full article. Without further adieu, let’s begin.


Warning! The content you’re about to read will probably leave you breathless! All joking aside, but in case you never previously heard of, you about to get blown away. The only thing you’re gonna need to open the account here is a social media profile, and you’ll be on your way.

But wait, what happens to fees? Well, it’s quite simple (no pun intended)! There simply aren’t any fees. Seriously, with no annual or monthly charges, it’s not hard to understand why this platform is exploding in popularity. Losing a card is a traumatic experience, but at least with Simple, you get a new one for free! Anything else we forgot to mention here? Sure, when it comes to ATMs, Simple has over 60 million stations from affiliate banks where it’s possible to withdraw money completely free of charge, and all other banks will only charge their percentage, Simple won’t take a dime! Sounds too good to be true? Head by their website, and see for yourself!

Schwab Bank High Yield Investor Checking Account

Without question, this is the most popular banking option for digital nomads at the moment. At least, when it comes to US citizens, as this bank unfortunately isn’t available to nomads from other countries. However, if you call yourself an American, Schwab Bank offers some brilliant solutions!

Similar to the previously mentioned one, it is absolutely free. Additionally, wire transfers from other major banks are also completely free, and that’s a great thing! However, perhaps the biggest reason for their success can be found in the fact that Schwab Bank High Yield Investor Checking Account reimburses all ATM fees at the end of the month, no matter where in the world you are. Considering that most nomads withdraw cash at least a couple times a month, the saving can mount up, big time! If you don’t believe us, calculate it for yourself. Withdrawal fees are usually set at around $5 dollars, then multiply that by the number of times you’re using ATMs, and the results may shock you. Call me old fashioned, but that seems like a fine deal to me.

Stripe Atlas

Unlike the two previous banks, the Stripe Atlas offers a lot of unique solutions. In case your goals revolve around opening an internet business which has a massive international potential, this can be the way to go. So, in case your product has a global customer base, we advise you to check in on this option.

Naturally, their initial fee of $500 up front may be huge to some people, but with Atlas, at least you clearly know what you’re getting. Best of all, after their initial review of your business, which usually includes the website research, and some basic information regarding your product, they do all the work, including opening a US account with your name on it. Furthermore, you don’t even have to be located in the United States for this to happen. Sure, compared to other solutions, this does seem a bit expensive, but at the end of the day, it will be you who’ll be reaping the benefits. The potential is  there, the only question is, are you gonna act fast?


Previously known as the Number26, this terrific bank is among the most popular options for European nomads. It’s based in Berlin, Germany, and it has come a long way since its humble beginnings. Nowadays, this bank offers services to customers around Europe. Still, how does that bode for the US based nomads? First of all, their currency exchange rate is top notch, going at MasterCard’s official rates. Compared to other popular exchange rates, this is a superb option.

The best news is that you don’t even need to showcase that you’re a registered resident in order to open the account. What you might still need to have is a mailing address in one of the supported locations. Once you receive your debit card, you can change this from their website. With no setup costs or any hidden monthly fees, N26 is a solid choice for digital nomads visiting Europe for longer periods of time. You can control your account online, without ever having to physically show up to any of their stations. Furthermore, they use push notifications, which is great news for travelers, as SMS notifications can cost an arm and a leg if you find yourself in a foreign country. The said app comes with German and English language variations, which is a fairly new thing, as it was originally only available in German. With three different plans, called N26, N26 Business and N26 Black, you can choose the option that suits your needs the best. Check it out!

Capital One 360

Another option worth considering is definitely the Capitol One 360. With this card, you won’t have to worry about the fine print and the hidden costs that come with it. In fact, it takes exactly $0 to open an account here, and the monthly fees are pretty much the same. Depending on the level of your balance, the interest rate increases, but there are no minimums you need to achieve to qualify for this deal. The annual percentage yield for amounts up to $50,000 is 0.20%, but it raises to 0.75% if you have anywhere between $50,000 and $99,999 on your account. For the amounts of 100,000 or more, the APY is set at 1%.

Capitol One is known for their 39,000 ATM’s in the US, but that doesn’t mean much to digital nomads who are constantly moving from place to place. However, they will be happy to hear that Capitol's app is one of the best in the business. Their award winning software is very easy to use on the go, as it allows users to have perfect insight into their account at all times. Making mobile deposits has never been easier, and if things go bad at any point, their excellent customer service will be more than happy to help. Unfortunately, know that Capitol One doesn’t have the practice of reimbursing your ATM fees, so take that into account.


Over the years, Revolut has become one of the most recognized banking options for digital nomads. Let’s just get one thing out of the way first. Yes, you can use this bank even if you do not possess citizenship of the country you are currently situated in. However, the very least you’ll need to do is to provide proof that you are able to legally stay in that country, such as a visa, for example.

Revolut offers free international money transfers, no fees on foreign currency transactions, and the ability to hold over 30 different currencies. Those things alone would be more than good enough of a reason for any digital nomad to consider it. Still, when you consider that you can also get a physical or virtual debit card and manage your account through their app, the positives start to add up. So, if traveling is your favorite thing to do, Revolut might allow you to be carefree during most of your trips.

Wise Multi Currency Account

The process of signing up is very simple, as it can be done in minutes from a mobile phone. After your ID is verified, you’ll just need to order a card, wait for a couple of days and you’ll be good to go. Wise (formerly known as TransferWise) is a fintech company that provides online money transfer services and a multi-currency account. The Wise Multi Currency Account allows users to hold and manage multiple currencies in a single account.

In fact, with this option, you will be able to access 40 different currencies while giving you access to local bank details in the US, UK, Europe, and Australia. You can also get a debit card and spend your money in any currency at the real exchange rate. Overall, the Wise Multi Currency Account is a great option for those who need to hold and manage multiple currencies in a single account.


Swissquote is an online bank originated in Switzerland that offers a range of financial services, including banking, trading, and wealth management. When it comes to digital nomads and other remote workers, Swissquote offers several benefits that make it a good option for managing finances.

Among the many benefits, we can name the multi-currency single account options, competitive exchange rates, the ability to work with different trading services and online banking that is very easy to use. Swissquote also offers wealth management services that can help you manage your finances and investments more effectively. This can be especially useful for remote workers who may not have access to traditional financial advisors.

Caye International Bank

Now, we are perfectly aware that Belize is not the first destination many digital nomads would turn to if they are in the need to find a reliable banking option, but it’s safe to say that the Caye International Bank deserves a mention on this list.

It offers many of the same options as some other banks mentioned above, but what separates it from the rest is its devotion to the privacy and security of its customers. Caye International Bank is known for its strict privacy and security policies, which can be reassuring for digital nomads who want to keep their financial information secure, which is probably all of us, truth be told.

Euro Pacific Bank

This bank, based in Puerto Rico, offers some great features that are more than suitable for remote workers like us. Most of the services are similar compared to other options, and with their well-designed app, you can check your balance, make transfers, and view your transaction history online.

Another great feature of Euro Pacific Bank is their investment services. If you're looking to invest your money, Euro Pacific Bank can help you manage your assets and perhaps even increase your earning potential by making some sound investments. People usually seem to think that offshore banks are only suitable for millionaires, but in fact, it’s also a good option for digital nomads.

You don’t like any of these options?

Truth be told, we believe that there are some great deals here, but we can’t blame you if you can’t find the one that suits your needs the most. So, are there any alternatives available?

As always, we’ll do our best to come up with a decent solution. Have you ever heard of the Global ATM Alliance? This partnership between banks can work to your advantage, but you have to do your research first. As it turns out, several major international banks have reached an agreement, where their customers get certain benefits when using their services abroad. This, of course, includes the lack of any fees, if you pick up the money from a partner’s bank ATM. Unfortunately, certain fees still apply, such as the 3% to all foreign transactions. Still, if you aren’t willing to switch your bank accounts, and your current bank falls under the Global ATM Alliance, this is definitely something to think about.


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