Opening Bank Accounts Abroad 2026: What Actually Works for Non-Residents

Banks have gotten paranoid about non-residents. Here's how the international banking landscape actually works in 2026 and what your options really are.

Opening a bank account in a country where you don't live used to be straightforward. Show up with a passport and proof of address, walk out with an account. That era ended around 2016 and hasn't returned. Compliance costs, de-risking strategies, and enhanced KYC requirements have made non-resident banking genuinely difficult. Not impossible, but difficult.

Why it got hard

Three forces converged to kill easy international banking:

FATCA and CRS: The US Foreign Account Tax Compliance Act (2014) and OECD Common Reporting Standard (2017) created automatic information exchange between tax authorities. Banks now report foreign account holders to their home countries. The compliance burden made many banks decide non-residents weren't worth the trouble.

AML escalation: Post-2008 money laundering fines running into billions trained banks to be paranoid. Non-residents represent higher compliance risk: harder to verify, harder to monitor, easier to use for illicit purposes. Many banks simply closed that exposure.

De-risking: Correspondent banking relationships (how local banks access international payment networks) have consolidated. US banks in particular have cut ties with banks in higher-risk jurisdictions. Those jurisdictions responded by tightening their own onboarding, creating a cascade of closed doors.

Where non-resident accounts still work

Georgia

Georgian banks like Bank of Georgia and TBC Bank still open accounts for non-residents with relatively straightforward requirements: passport, proof of address from home country, sometimes an initial deposit. The National Bank of Georgia hasn't imposed the same de-risking pressure as Western regulators. Remote opening is possible through some fintechs, but in-person remains more reliable. The catch: Georgian banking primarily handles GEL (lari) and USD; EUR handling is more limited.

Singapore

Singapore remains accessible but selective. Banks like DBS and OCBC will consider non-residents but expect substantial deposits (SGD 200,000+ for private banking, SGD 30,000+ minimum for regular accounts) and thorough documentation. Physical presence for account opening is usually required. The MAS maintains strict AML standards, but within those standards, Singapore banks still want international clients. They just want wealthy, well-documented ones.

UAE

UAE banks have become more accessible to non-residents, particularly those with UAE visas (Golden Visa holders, freelancer permits). Banks like Emirates NBD and ADCB will open accounts for visa holders with reasonable minimums. Without a visa, it's harder but possible with substantial deposits. The lack of personal income tax makes UAE banking attractive for international income.

United States

Surprisingly, US banks are more accessible to non-residents than many European banks. Banks like Mercury (for businesses), Wise, and traditional banks like Chase or Bank of America will open accounts for non-US persons, though requirements vary. Physical presence is often required for traditional banks. US accounts provide access to the dollar payment system, which matters for international business.

Where it's become nearly impossible

European banks have largely closed to non-residents. German banks won't consider you without German residence. UK banks require UK address and often UK employment. French banks need proof of French residency. The pattern repeats across the EU. There are exceptions for high-net-worth individuals at private banking levels, but retail banking for non-EU residents is effectively dead.

Switzerland, once the default for international banking, now requires substantial minimum deposits (CHF 500,000+) and thorough source of funds documentation even at that level.

The fintech alternative

EMIs (Electronic Money Institutions) have filled the gap traditional banks abandoned:

Wise (TransferWise): Multi-currency accounts available to most nationalities. Not a bank, but provides account numbers in USD, EUR, GBP, and others. Wise's platform works well for receiving payments and currency conversion. Limitations: not great for large balances, no credit products, some platforms don't accept EMI account details.

Revolut: Similar multi-currency functionality, available more broadly than traditional banks. Revolut now has banking licenses in some jurisdictions, providing deposit protection. Still faces some acceptance issues for business purposes.

Mercury: US-based, focused on startups and tech companies. Will bank non-US businesses with straightforward requirements. No personal accounts, but business accounts are accessible.

What actually works in practice

For most international professionals, the realistic approach is layered:

Home country account: Keep one functioning account in your country of citizenship or long-term residence. This is your anchor, your proof-of-banking-history, your fallback.

Multi-currency EMI: Wise or Revolut for receiving international payments, converting currencies, and everyday international transactions. Accept the limitations.

Local account where you live: If you establish actual residence somewhere, open a local account there. With residence proof, local accounts are still accessible.

Specialty account for specific needs: US account for dollar payments, Singapore for Asia-Pacific business, UAE for Middle East operations. Match the account to the use case.

The days of walking into a foreign bank and opening an account as a tourist are over. Plan around that reality.