Best EU BANK account for citizen that is traveling around EU

[momeezy]

@fcs2525 Bunq

 

[fcs2525]

@momeezy I used them in the past but now the "bank of the free" is charging 9€ a month for basic account and if they work like they used to it'd be pain to have account just for card purchases and having option just to send money in or send all of the money back to my other bank account without option to transfer the money to other people...

 

[onvolmaakt]

@fcs2525 Look for an interesting bank and go to that country with an Airbnb and get proof of residency, then it's OK.

My recommendation is the french bank Boursorama (but they don't accept U.S. persons tho) they have a free account with a free Visa ULTIM card with pretty good assurances, unlimited instant SEPA-transfers and it's a subsidiary of one of the biggest french banks, Societe Generale.

It's a bit complicated to do because you need a french account for opening it (but if you're in France you can open a french account in every Post Office and then close it)

 

[anonymouse89]

@fcs2525 N26, Revolut, or Wise.

 

[deqxter]

@fcs2525 By law every bank is to offer instant transfers since January 2023. Or at least it was in draft in 2022.

 

[fcs2525]

@deqxter No idea but lot of banks that doesn't have them as standard are offering them for extra fee

 

[deqxter]

@fcs2525 https://www.euronews.com/business/2023/11/08/eu-seeks-to-make-10-second-bank-payments-a-reality

It's coming. Just be patient. But whatever you go with, stay away from N26 or Revolut. I had a bad experience with both. The misery they can cause you is not worth commission savings.

 

[scottcuster]

@fcs2525 For starters, it would be useful to know in which country/countries you have the opportunity to access a local bank account?

Many local banks offer conditions that are suitable for someone moving countries a lot, as long as you are able to register with a local address/residence in the beginning and making sure they have no reason to suspend your services (eg if your residence is limited by a visa, they might freeze your account by the visa deadline).

My advice would also be Revolut and the like, split your money between several accounts so in case you would be affected by a freeze you wouldn't be totally screwed. And while there are many stories of such situations on reddit, in real life I've never heard of any. It's a tiny % that are affected by those serious problems.

 

[scombridae1969]

@fcs2525

Instant transfers in €

No bank does instant transfers to other banks. If you need instant transfers, you at least need to have an account in the same bank as the account you want to transfer to.