If you’re looking for the best digital nomad debit cards in Europe, you have come to the right place. In this article, we’ll discuss your options and how to obtain the best cards possible.
In doing so, you’ll be able to reduce ATM fees, eliminate FX fees while in Europe, and (if you’re interested) even open a bank account in the EU member states and SEPA countries.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Digital Nomad Bank Account & Debit Card Options
- How to Choose the Best Debit Card?
- What Are the Challenges of Opening a Nomad Bank Account?
- What Is the Best Credit Card for Digital Nomads?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
To get started, let’s look at the options available to digital nomads for both banking and debit cards in Europe.
Digital Nomad Bank Account & Debit Card Options
When it comes to obtaining a debit card as a digital nomad in Europe, there are a few options to choose from, which include:
- Traditional banks that issue debit cards to non-residents
- Digital banks that issue physical or virtual debit cards
- EMIs & fintech platforms that issue physical or virtual debit cards
- PSPs that issue physical or virtual debit cards
Of course, each of these categories can be broken down further, but ultimately (when looking for a debit card) they can be split into two categories.
Before diving into these two categories, if you’re looking to open an account outside of SEPA, such as an Armenia bank account, you can get started by accessing our free guide linked here.
1. Account + Debit Card
The first category includes opening a traditional bank account, digital bank account, or fintech account and obtaining a debit card that is tied to your account.
This category includes money transfer services, FX brokers, and other digitally enabled platforms where users are allowed to maintain a balance.
The cards available in this category typically include physical and virtual cards that are issued in the name of a specific person or company.
2. Debit Card Only
The second category includes opening an account with an EMI, fintech, or PSP that is solely focused on issuing cards to their users and does not provide banking or deposit account services.
In addition to standard debit cards that are issued in the name of the specific person or company, this category also includes prepaid cards, anonymous cards (yes they exist), and virtual cards.
Ther are other European banking alternatives, such as opening a bank account in France as a non-resident. However, the best jurisdiction for you ultimately depends on your banking objectives, required services, and deposit level.
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How to Choose the Best Debit Card?
If you are only interested in obtaining a debit card, you may choose one of the options in category two (above).
However, if you want to have an account tied to the card to support international transfers, foreign currency exchange, or receiving funds from clients, etc., then the first category is likely a better path to obtaining a debit card.
That said, opening an account with a traditional bank (and certain digital banks) is often more challenging. This is especially true if you are a digital nomad with limited ties, no proof of address, a lack of supporting documentation, and think that you are “not resident anywhere”, which can often cause account opening issues.
With this in mind, let’s take a look at some of the challenges that digital nomads can face when opening accounts – either with traditional or digital banks or directly with card issuers.
What Are the Challenges of Opening a Nomad Bank Account?
As mentioned, digital nomads can face few unique challenges when opening bank accounts in Europe.
First, certain banks require proof of residency (as mentioned above), which can be difficult to provide if you’re constantly on the move. This is especially true at traditional banks but it’s also becoming an increasing common with digital banks and EMIs.
Another challenge is finding a bank that doesn’t charge high fees for international transactions – something that’s important for digital nomads and travelers who often need to send and receive money from different countries. For this reason, we typically suggest a combination of traditional or digital bank along with a transfer service like Wise.
What Is the Best Credit Card for Digital Nomads?
Not surprisingly, obtaining a credit card as a digital nomad is significantly more challenging than obtaining a debit card. That’s because banks need to assess your creditworthiness in order to extend credit to you.
With this in mind, the first step is to determine the following:
- Do you have any credit history in the country?
- Is it possible to transfer your history from your home country to your desired country?
- Is it possible for someone with your profile to even acquire credit history? Or does the bank require you to acquire specific documents or tax ID numbers first?
- Are any banks or providers in your desired country willing to issue credit cards to someone with your profile, ties, and available documentation?
In GlobalBanks IQ and GlobalBanks Insider, we dive into credit card options and specific credit card strategies for foreigners and non-residents in more detail.
Frequently Asked Questions
Below are three of the most common questions that we receive from people looking to open a bank account in France as a non-resident. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What is the Best ATM Card to Use in Europe?
The best ATM card to use in Europe is one with low or no foreign transaction fees and will reimburse you for any ATM fees charged by the bank. It should also have no FX fees or international purchase fees if it was issued in a non-European country.
What Debit Cards Work in Europe?
Many debit cards work in Europe, but some do not. The best way to find out is to contact your bank and ask them if your card will work in Europe. Some banks will let you edit your travel restrictions on their mobile apps.
What is the Best International Digital Bank?
There are a few good international digital banks, but the best options for you will ultimately depend on your specific needs and which ones you can realistically access. Some of the most popular digital banks for travelers are Revolut, N26, and Wise.
For Americans, Charles Schwab is the most popular because it has no ATM fees worldwide, no foreign transaction fees, no monthly fees, and account opening is entirely online.
Do You Want Help Open Bank Accounts?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
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And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
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