Money
Banking and credit when you move abroad
Opening a bank account in your new country, your right to a basic account in the EU, why your credit history doesn't come with you and how to rebuild it, and what happens to fee-free cards once you've moved.
Checked on 17 October 2026. From EU law, central banks and regulators, the credit bureaus, and each bank's own pages, with a few figures from consumer groups, news sites and personal finance sites where we couldn't read the official page (named in each source list). Banks change their rules for people living abroad often, so check before you rely on an account.
The short version
- In the EU, a bank can't turn you down just for being new. If you're legally resident anywhere in the EU you have a right to a basic account, and it can't be refused just because you don't live in that country, though some countries ask you to show a genuine link to them. Your Europe, bank accounts in the EU, May 2026, Payment Accounts Directive 2014/92/EU, chapter IV (legislation.gov.uk copy)
- Your credit history stays behind. Credit bureaus only record what happens in their own country, so you start again from scratch. A few lenders can read your old file through Nova Credit, and if you already have an American Express card, Amex can help you get one in your new country. Equifax UK, credit history when moving abroad, March 2022, Experian US, July 2016, HSBC UK and Nova Credit, September 2023, American Express US, I moved abroad
- Several fee-free UK cards are only for people who live in the UK. Chase UK and Monzo ask you to close your account when you move abroad for good, and Kroo gives 6 months' notice to close if you move abroad for more than 12 months. Plan to spend from a local account. Chase UK, moving abroad, Monzo, moving abroad, Kroo, moving abroad, July 2025
- Keep something open at home. Accounts you keep open and use stay on your UK file, and debts stay live after you leave. Checkmyfile says registering as an overseas voter won't show on your UK credit file. Equifax UK, credit history when moving abroad, March 2022, Checkmyfile, overseas voters, June 2026
- Always pay in the local currency. If a shop or cash machine offers to charge you in pounds or dollars, the conversion rate is theirs, not your bank's. Barclaycard, using your card abroad, Chase UK, travel with Chase
Your rights in the EU
- Who has the right
- Anyone legally resident in an EU country, including people with no fixed address and asylum seekers, can open a basic payment account in any EU country. A bank can't refuse just because you don't live in that country. Your Europe, bank accounts in the EU, May 2026, Payment Accounts Directive 2014/92/EU, chapter IV (legislation.gov.uk copy)
- What you get
- Day-to-day banking: paying money in and out, a debit card, direct debits and transfers. It doesn't have to include an overdraft. It must be free or for a "reasonable" fee. Your Europe, bank accounts in the EU, May 2026, Payment Accounts Directive 2014/92/EU, chapter IV (legislation.gov.uk copy)
- How fast
- The bank must decide within 10 business days of a complete application. Payment Accounts Directive 2014/92/EU, chapter IV (legislation.gov.uk copy)
- When it can say no
- Under money laundering rules, or, in some countries, if you already have a similar account with another bank there. Some countries ask you to show a genuine link to them. A bank that refuses must tell you the specific reason and how to complain. Your Europe, bank accounts in the EU, May 2026, Payment Accounts Directive 2014/92/EU, chapter IV (legislation.gov.uk copy)
- Your IBAN works everywhere
- Within the euro payments area, an employer, landlord or utility paying you or taking a direct debit can't insist your account is in a particular country, as long as it can send and receive euro payments (SEPA). If one refuses your IBAN, complain to it first, then to the regulator in its country. SEPA Regulation 260/2012, article 9 (UK-retained copy, legislation.gov.uk), De Nederlandsche Bank, SEPA and IBAN discrimination
Opening an account, country by country
From each country's central bank, regulator or consumer agency where we could, and banks' own pages for the details. Expect to be asked for a local address, and sometimes a local tax or ID number, for an ordinary account.
| Country | Your right to an account | What you'll need | Worth knowing |
|---|---|---|---|
| Spain | Basic account for anyone legally resident in the EU with no other Spanish account, even without a fixed address; up to €3 a month, free on a low household income if you own no property besides your home | EU citizens: a passport or national ID card plus an NIE (foreigner's identity number); non-EU citizens: a foreigner's identity card (TIE) | Non-residents are asked to prove it with documents |
| Portugal | Minimum banking services for anyone with the right to live in an EU country and no other current account; fees capped at €5.37 a year in 2026 | The same documents as an ordinary account, plus a signed statement that you have no other account | Whether you need a NIF tax number first isn't covered in the official guide |
| France | Right to an account: if a bank refuses (or doesn't answer in 15 days), the Banque de France names one within 24 hours of a complete request; basic services free | The bank's refusal letter (or proof it didn't reply), ID, and proof of address such as a tax notice or rent receipt under 3 months old | Open to people living in France, French citizens abroad and people legally resident elsewhere in the EU, if they have no account already |
| Italy | Basic account (conto di base) for anyone legally staying in the EU, wherever they live; a news site says it's free on low household incomes | We couldn't find an official list; the press reports banks wrongly rejecting temporary tax codes | The press reports that Banca d'Italia issued new guidance in August 2026 because people were being put off |
| Germany | Basic account (Basiskonto) for anyone legally resident in the EU; the bank has 10 business days to decide; "reasonable" fees only | BaFin publishes an application form (optional) | If a bank wrongly refuses, you can ask BaFin, free of charge, to order it to open the account |
| Netherlands | Basic payment account if a bank won't give you an ordinary one and you have a clear link to the Netherlands (living, working or studying there) | ABN AMRO asks for a Dutch address, ID and Dutch tax liability, and says you can start without a BSN but must add it within 90 days | Complaints go to the bank, then Kifid |
| Ireland | Basic bank account for over-18s legally resident in the EU with no other Irish account; no fees for the first 12 months | Photo ID and proof of address under 6 months old; recent arrivals with a job may be able to use a letter from their employer | Non-residents may be asked for two proofs of each; ask the branch first |
| UK | Basic bank accounts, usually free, for people who don't qualify for a standard account | ID and proof of address; HSBC says a letter from a university or employer might do if you're new | HSBC says many banks require you to live in the UK; complaints go to the Financial Ombudsman |
| US | No right to an account on the official pages we read; banks decide | You don't need a Social Security number: banks may accept an ITIN, and some a passport number and country of issue | Banks don't have to accept these, so compare |
| Canada | Right to open an account under certain conditions, even with no job or money; a refusal must be in writing | Original ID: two documents (a foreign passport counts), or one plus someone in good standing vouching for you | RBC opens accounts before arrival only from nine listed countries, not the UK or US |
| Australia | Low-fee basic accounts for people on a low income or government support | CommBank lets you open up to 14 days before you arrive, then show your passport in a branch within 20 days of opening, or the account is closed | Visitor visas 600, 601 and 651 aren't accepted by CommBank |
Sources: Banco de España, basic payment account guide, Banco de España, opening an account, March 2021, Banco de Portugal, minimum banking services brochure, June 2026, Banque de France, right to an account, Banque de France, right to an account: 9 myths, September 2026, Italian banking law, art. 126-noviesdecies (Brocardi.it), QuiFinanza, August 2026, DirittoBancario, 2026, BaFin, basic payment account, Rijksoverheid, if a bank won't give you an account, September 2026, ABN AMRO, open a bank account (expats), MABS, opening a bank account, July 2024, CCPC, opening a bank account, MoneyHelper, basic bank accounts, HSBC UK, what you need to open a current account, CFPB, checking account without a Social Security number, FCAC, opening a bank account, October 2025, FCAC, know your rights, October 2025, RBC, before you arrive in Canada, Moneysmart, save on bank fees, July 2025, CommBank, moving to Australia, October 2026
Credit history
- It doesn't move with you
- Equifax UK says lenders only collect information on what you do in one country, so you're "essentially starting from scratch". Experian and TransUnion say the same about moving to the US. Equifax UK, credit history when moving abroad, March 2022, Equifax UK, moving to the UK, April 2022, Experian US, July 2016, TransUnion US, building credit as an immigrant, January 2022
- Carrying it across
- Nova Credit, a US credit agency, can pull your file from a foreign bureau with your consent for lenders that use it. HSBC UK uses it for credit cards (12 countries in 2023, including the US); American Express US for personal cards (9 countries in 2021, including the UK); BMO in Canada (9 countries in 2024, including the UK). Current lists may differ. Nova Credit, personal, HSBC UK and Nova Credit, September 2023, HSBC UK, building your credit rating when new to the UK, American Express and Nova Credit, December 2021, BMO and Nova Credit, September 2024
- American Express
- If you're the main cardholder on a personal card issued by American Express, held for at least 3 months and in good standing, Amex can help you apply for a card in 21 countries, including the UK, US, Australia, Canada, France, Germany, Italy, the Netherlands and Spain. Corporate cards and Amex cards issued by other banks don't count. In the UK you'll need a UK address and phone number. American Express US, I moved abroad, American Express UK, moving abroad
- HSBC
- HSBC's international account opening covers 21 places and is free for HSBC One and Premier customers, but says you "can't bring your credit history along". HSBC international account opening
- Keeping your UK file alive
- Accounts you keep open and use keep reporting, and any debts stay active. Registering as an overseas voter doesn't help: Checkmyfile says agencies only report an electoral roll entry at a UK address. Equifax UK, credit history when moving abroad, March 2022, Checkmyfile, overseas voters, June 2026
- Keeping your US file alive
- The Points Guy says US cards need a US home address to apply, suggests a trusted relative's address, and advises keeping your oldest cards open. A credit freeze is free, doesn't affect your score and lasts until you lift it: contact all three bureaus. The Points Guy, US credit cards as an expat, September 2026, FTC, credit freezes, August 2025
- Starting again in the US
- The CFPB suggests a secured card (your deposit sets the limit), a credit-builder loan from a bank or credit union, or a store card. TransUnion says whether you have a Social Security number or an ITIN can affect what you can get. CFPB, ways to start a credit history, September 2024, TransUnion US, building credit as an immigrant, January 2022
- Starting again in the UK
- Equifax UK suggests getting on the electoral roll once you have a UK address, opening a UK bank account, paying bills by direct debit, using a starter credit card you clear each month, and waiting 3 to 6 months after a refusal before applying again. Equifax UK, moving to the UK, April 2022
Credit registers in other countries
| Country | Register | What it records | Seeing your file |
|---|---|---|---|
| Ireland | Central Credit Register (Central Bank of Ireland) | Loans of €500 or more, kept up to 5 years after they end | Free, online or by email; you need photo ID, proof of address and your PPS number |
| France | FICP and FCC (Banque de France) | Only problems: missed credit repayments and cheque or card incidents, usually for up to 5 years | Online, in a branch by appointment, or by post; not by phone |
| Spain | CIRBE (Banco de España) | Loans, credit and guarantees; a consumer group says only above €1,000 in total | Free online, usually within minutes |
| Italy | Centrale dei Rischi (Banca d'Italia) | Debts of €30,000 or more, or €250 if in serious default | Free on request |
| Portugal | Central de Responsabilidades de Crédito (Banco de Portugal) | A consumer group says credit above €50, kept 5 years | A consumer group says online with your tax portal login or citizen card, or at a Banco de Portugal counter |
| Netherlands | BKR | A personal finance site says loans of €250 or more, including phone contracts with a handset, kept 5 years after repayment | The same site says free online, using iDIN |
| Germany | SCHUFA | Not confirmed from SCHUFA's own pages | A free copy of your data under GDPR article 15, sent by post (heise, 2021) |
| Australia | Credit reporting bodies (regulated by the OAIC) | Repayment history, and defaults of A$150 or more once 60 days overdue | Free once every 3 months |
Sources: Central Bank of Ireland, Central Credit Register, CCPC, your credit history, Banque de France, payment incident registers, September 2026, Banco de España, CIRBE report, February 2026, OCU, November 2025, Banca d'Italia, Centrale dei Rischi, October 2025, DECO PROteste, October 2026, Geld.nl, December 2022, heise online, July 2021, OAIC, your credit report, July 2025
Cards with no fee on spending abroad
Useful before you move and on trips home, but check the last column: most are meant for people who live in the UK or US. From each provider's own pages, UK cards then US cards then multi-currency accounts, alphabetical in each group. Cash machine owners may add their own fee.
| Card | Type | Spending abroad | Cash abroad | If you move abroad | |
|---|---|---|---|---|---|
| Barclaycard Rewards | UK credit card | No fees abroad | No charge for cash abroad; interest timing on cash not confirmed by Barclaycard | Moving-abroad rules not found; Barclays says applicants need a permanent UK address for at least 2 years. 28.9% APR representative (variable) | Go to Barclaycard Rewards |
| Chase UK | UK current account | No fees on the card abroad (Mastercard's rate) | No Chase fee; £500 a day and £1,500 a month limit | Chase only operates in the UK and asks you to close your accounts before you move | Go to Chase UK |
| Kroo | UK current account | No foreign transaction fees (Visa's rate) | No Kroo fee; ATM owners may charge | Move abroad for more than 12 months and it gives you 6 months' notice to close, unless one of your homes is in the UK | Go to Kroo |
| Monzo | UK current account | Fee-free in any currency (Mastercard's rate) | Free up to a 30-day limit set by your plan (outside the EEA £200 to £600), then 3% | You must close it if you move abroad permanently | Go to Monzo |
| Nationwide FlexPlus | UK current account | 0% (FlexDirect and FlexAccount charge 2.99%) | 0% | £18 a month. You can keep Nationwide accounts abroad with conditions, but if you move to the EU or EEA it can move your money and close the account; FlexPlus insurance stops but the fee doesn't | Go to Nationwide FlexPlus |
| Starling | UK current account | No extra fees (Mastercard's rate) | No extra fees | We couldn't find its moving-abroad rules; its fee details are from a 2022 blog post | Go to Starling |
| Zopa | UK credit card | No fees for using it abroad | Not stated | Moving-abroad rules not published. 34.8% APR representative (variable) | Go to Zopa |
| Capital One | US credit cards | No foreign transaction fees on any of its US-issued cards | Not covered on that page | No published rule on living abroad | Go to Capital One |
| Fidelity Cash Management | US account and debit card | No foreign transaction fees | Refunds other banks' ATM fees at Visa, Plus or Star cash machines | Fidelity says it is "for persons in the US only" | Go to Fidelity Cash Management |
| Schwab Investor Checking | US account and debit card | No Schwab foreign transaction fees | Unlimited ATM fee refunds worldwide (not fees for being charged in your home currency) | Needs a linked Schwab One brokerage account; non-US residents face "country-specific restrictions" | Go to Schwab Investor Checking |
| Revolut | Multi-currency (UK Standard plan) | Exchange up to £1,000 a month, then 1% on the rest | 5 withdrawals or £200 a rolling month free, whichever comes first, then 2% (minimum £1) | Move permanently and you must close the UK account, then open one in your new country if it's supported (the UK, the EEA, the US and a few others) | Go to Revolut |
| Wise | Multi-currency (UK card) | At the mid-market rate with a conversion fee | £250 a month free, then 2.69% on the rest | Card costs £7. You can hold money with Wise in a long list of countries | Go to Wise |
Sources: Barclaycard Rewards, Barclays, Barclays Rewards card, Barclaycard, using your card abroad, Chase UK, travel with Chase, Chase UK, moving abroad, Kroo, spending abroad, Kroo, moving abroad, July 2025, Monzo, fees abroad, Monzo, moving abroad, Nationwide, current account charges, December 2024, Nationwide, living and working abroad, Starling, using your card abroad, May 2022, Zopa, credit card, Capital One, no foreign transaction fees, April 2026, Fidelity, Cash Management Account, October 2026, Charles Schwab, Investor Checking, Revolut UK, Standard plan fees, Revolut, supported countries, Revolut, changing your country of residence, Wise, card spending (UK), Wise, where you need to live
Spending abroad without losing money
- Pay in the local currency
- Paying in pounds or dollars abroad is called dynamic currency conversion. Barclaycard explains it, and Chase UK says the merchant's rate may include its own charges, while local currency gets the card network's rate. Barclaycard, using your card abroad, Chase UK, travel with Chase
- The EU rule
- Within the EU, currency conversion charges must be shown as a percentage markup over the European Central Bank's rates, and card issuers must send you a message showing the markup after a card payment in another EU currency. Central Bank of Malta, Cross-Border Payments Regulation
- Cash machine fees
- Banco de España says a cash machine's owner can charge you if you're not its customer, and that fee isn't in your card contract. At cash machines in Spain, the fee is shown on screen, and you can cancel. Banco de España, cash withdrawal fees abroad, June 2024
Related: Bank card fee calculator, Mortgages and buying property abroad