How to Open an International Bank Account

by Jorina Fontelera ; Updated July 27, 2017

Items you will need

  • Annual gross income of at least £24,000/$48,000 (or currency equivalent)
  • £5,000/$10,000/€ 10,000 (or currency equivalent) minimum at time of account opening
  • Extra £5/US$8.50/€7.50 (or currency equivalent) monthly

Opening an international bank account can be a great help if you travel extensively or are living abroad. International bank accounts make it easier to manage your money in different countries and currencies whilst keeping it all in one place. International debit cards also give you the flexibility to access your money anywhere in the world. Additionally, most banks that offer international bank accounts offer them in multiple currencies so you can select which one is the best for you. As an added bonus, depending on where you open and store the account, you may qualify for tax benefits.

Step 1

Call a bank such as HSBC or Barclays to get an international bank account application form. Some banks can also take your application over the phone or online so check for that option.

Step 2

Fill out application form.

Step 3

Prove that you earn £24,000/$48,000 (or currency equivalent) or more a year by providing tax returns or pay stubs with your application. To open a premiere international account, some banks require you to have an annual income of at least £50,000 (or currency equivalent) or more or be able to deposit £60,000 (or currency equivalent) or more within three months of opening the account. .

Step 4

Prove that you are over 18 years of age with a state or country ID, drivers license or passport.

Step 5

Deposit at least £5,000/$10,000/€ 10,000 (or currency equivalent) to open the account. Be aware that some banks charge a monthly fee of approximately £5/$8.50/€7.50 (or currency equivalent). To open a premiere international account, you should be able to deposit £10,000/$20,000 (or currency equivalent) when you open the account.

Warnings

  • Be aware of international tariffs that could be placed on your account. Different countries have different tariffs and tariff rules. Ask the bank for its list of tariff rules by country.

About the Author

Jorina Fontelera has been writing about business since 2003, covering the printing and manufacturing sectors, as well as the global accounting and financial industries. She has contributed to "USA Today," "Milwaukee Business Journal" and several trade publications, also writing about parenting, animals, food and entertainment. Fontelera holds a Bachelor of Arts in English from Marquette University.