Can You Open A Bank Account As A Tourist? These Countries Say Yes

Most people assume you need to be a resident to open a bank account in another country. Surprisingly, that's not always true. While many countries only allow residents to open local bank accounts, several others let foreign visitors, including tourists, do so under certain conditions. The process isn't always quick, and you'll usually need to provide documents like your passport, proof of your home address, and tax information, and sometimes even explain why you want the account. But if you have everything in order, opening a bank account abroad can be much easier than many travellers imagine.

Why Do Travellers Open A Bank Account?

So why would someone on holiday even want a foreign bank account? It's actually more common than you might think. Frequent travellers can avoid paying hefty international card fees every time they make a purchase. Some travellers own holiday homes overseas, while others are digital nomads, retirees, or remote workers who regularly move between countries. Having a local bank account also makes withdrawing cash, transferring money, and paying like a local much simpler.

Here are some of the countries where tourists and other non-residents can open bank accounts.

Switzerland

When people think of international banking, Switzerland is usually the first country that comes to mind. The country has always been known for its stable financial system and world-class banks. While opening a Swiss bank account isn't as easy as it once was, many banks still allow non-residents, including foreign visitors, to open accounts. Swiss banks carry out detailed identity and financial checks. Some banks also ask for a fairly large opening deposit and charge higher fees for customers who don't live in Switzerland.

Georgia

If there's one country that has become famous among digital nomads and long-term travellers, it's Georgia. In recent years, the country has gained a reputation for making banking relatively simple for foreigners. Several Georgian banks allow non-residents to open accounts, and in many cases, a valid passport is the main document required. Depending on your nationality and the bank you choose, you may be asked for a few additional documents or complete a short interview.

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Portugal

Portugal has become one of Europe's most popular destinations for tourists, retirees, remote workers, and second-home owners. Naturally, many visitors eventually decide to open a local bank account. The country allows non-residents to open accounts, but you'll need more paperwork than in some other places. Along with your passport, banks usually require a Portuguese tax number, known as an NIF, proof of your home address, and documents showing your income or employment. If Portugal is somewhere you visit regularly, opening an account can save both time and money.

Singapore

Singapore is known around the world as one of the safest and strongest financial centres, and some banks allow non-residents to open accounts even if they aren't living in the country. Requirements vary depending on the bank. Most will ask for your passport, additional identification, and information about why you want the account. Some banks may also require a minimum opening deposit or ask you to visit a branch in person before approving your application.

United Arab Emirates

Millions of tourists visit the UAE every year, and some of them decide to open local bank accounts, especially if they travel there often for business or own property. Several UAE banks allow non-residents to open savings accounts. You'll usually need your passport, a valid tourist visa or entry stamp, and supporting financial documents. Non-resident accounts often have certain restrictions compared to resident accounts, but they still allow you to hold money locally and carry out many everyday banking activities.

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Panama

Panama has built a strong reputation as one of Latin America's leading financial centres. Because of this, several banks offer accounts for non-residents, including foreign visitors. However, opening an account here requires preparation. Banks usually ask for your passport, proof of income, banking reference letters, professional references, and documents explaining where your money comes from. The checks are detailed because banks follow strict international financial regulations.

Just because a country allows tourists to open bank accounts doesn't mean every bank has to accept your application. Each bank sets its own rules, and those rules can change at any time. Before you travel, always check the latest requirements directly with the bank you plan to visit.