7x Best Banks for Digital Nomads | 2024

The lifestyle of digital nomads has become increasingly popular as the world gets more connected and remote employment becomes more common. These intrepid people need flexible and dependable financial solutions that can keep up with their nomad lifestyles because they can operate from anywhere in the world.

In this article, we will explore the best banks for digital nomads, focusing on institutions that provide an array of services tailored to cater to the unique financial requirements of this increasingly mobile demographic.

These banks have established themselves as reliable partners for people who embrace a mobile lifestyle, offering everything from multi-currency accounts and smooth international transfers to cutting-edge mobile banking apps. Join us as we explore banking options that are accommodating to digital nomads, enabling you to move about the world’s financial landscape with comfort and confidence.


Wise, formerly known as TransferWise, Wise is an innovative financial platform that is making waves in the world of international money transfers, and it’s easy to see why it’s a top pick for digital nomads.

Wise Bank has built a solid reputation as a trustworthy financial partner because to its client-centered philosophy and technologically enhanced services. Wise provides secure international money transfers, as it safeguards user accounts and transactions through two-factor authentication. The security operations team diligently monitors user financial and personal information at all times. Additionally, Wise has a dedicated fraud team to safeguard the data from even the most complex scam. You also receive monthly statements that can be used to keep track of how much money has been coming into and leaving your accounts. You get interfaces with some of the most well-liked invoicing programs with the Wise business account, as well as a clear transfer calculator to show the current exchange rate and how much you have been charged in fees.

Operating in over 50 currencies, Wise makes sending money across borders straightforward and cost-effective. With Wise, you’re offered the real mid-market exchange rate – the same rate you’ll find on Google – which typically results in lower costs compared to traditional banks.

Wise also provides a multi-currency account, allowing digital nomads to hold, receive, and spend money in different currencies with a Wise debit card. This feature is a game-changer for those who earn in one currency and spend in another. Whether you’re being paid by clients worldwide or splitting dinner costs with friends in a different currency, Wise makes it simple and hassle-free.

Wise Pros

  • There are no unforeseen costs or fees. When it comes to its fees, wise is up front and honest.
  • Secure and user-friendly money transfer services.
  • Exceptionally cheap transfer costs when sending money abroad

Wise Cons

  • The maximum transfer value is $1,000,000 or its equivalent in your local currency. While that might not matter much to smaller businesses or independent contractors, it does restrict options for bigger businesses. Things also become a little sketchy if you need to shift around larger sums of money.
  • No free option to deposit USD to your account
  • Wise cannot be used to send money to businesses that support trading in cryptocurrencies, FX, CFDs, and options.


Revolut is a fintech business established in the UK that provides commission-free stock trading and does not have any costs for inactivity. The account opening is quick, easy, and entirely digital and the mobile app is very well made and simple to use.

For starters, Revolut offers a multi-currency account, allowing you to hold and exchange over 30 different currencies at the real exchange rate – a boon for digital nomads navigating various countries and currencies. Plus, you can send and request money from other Revolut users instantly and free of charge using their $Revtag, no matter where you are in the world.

Revolut’s investment platform allows its users to dive into the world of trading with a focus on US shares and cryptocurrencies. While this offering opens up opportunities for users to participate in these popular and volatile markets, it is worth noting that traditional asset classes like mutual funds, options, or bonds are not currently available for trading on Revolut. This limitation could be a drawback for those looking for a broader investment options.

Although Revolut offers a limited amount of free stock transactions, depending on your plan, it also levies a custody cost and has rather high trading fees outside of the monthly allowance.

Revolut exclusively supports mobile devices as it does not provide a web trading platform. Web-based applications are practical and available on all devices and so this is also a drawback.

Whether you’re freelancing from a beach in Bali or running your startup from a café in Copenhagen, Revolut offers a flexible, secure, and user-friendly banking solution that adapts to your nomadic lifestyle.

Revolut has three plans available for US customers. The plans and pricing options may vary depending on the country.

The below are Revolut plans and pricing for US customers:

  • Revolut Standard – Free
  • Revolut Premium – $9.99/month
  • Revolut Metal – $16.99/month

Revolut Pros

  • Free stock trading
  • Spend in over 140 currencies and hold money in 30+ different currencies in the same account.
  • Includes good travel insurance in most countries (via Allianz)

Revolut Cons

  • Can be used via the mobile app only
  • Poor customer service


N26 is a Germany-based digital bank launched in 2013. Known for its user-friendly interface and fully digital banking services.
By facilitating simple money transactions, it provides many of the most popular services that individuals require. You can utilize Google Pay for both in-store and online purchases with N26 accounts. Except for the total absence of paper, physical locations, constrained services, and near total lack of human interaction, N26 is just like any other bank. Due to the way their company is set up, they have cheap fees and allows you to deposit up to €50,000 into your account with zero deposit fees. N26 is concentrated on providing frequently used banking services rather than a comprehensive range of banking services including insurance, significant loans, or unsecured lines of credit.Younger adults with tech-savvy demands and basic financial needs are the target audience for N26.

It’s worth noting that the N26 standard free plan does not come with a physical card. However, it does provide access to a virtual card.

N26 caters to both personal and business banking needs with four distinct plans:

  • Standard – Free
  • Smart – €4.90/month
  • You – €9.90/month
  • Metal – €16.90/month

It’s worth noting that the N26 standard free plan does not come with a physical card. However, it does provide access to a virtual card.

N26 Pros

  • The foreign exchange rate is at the real rate
  • No charges when spending money in another currency from your card
  • Premium subscription options with handy perks like travel insurance

N26 Cons

  • Only available to European residents
  • You can only hold one currency, which is EUR
  • No phone support, chat support can be slow
  • Fees for cash withdrawals in foreign currency
  • No physical card on the Standard plan.


Payoneer is a global partner for digital commerce. They guarantees that any firm, in any market, will have the technology, connections, and confidence to participate in and thrive in the new global economy. These services include borderless payments as well as limitless growth. For freelancers, service providers, online retailers (e-commerce), and digital marketers who work overseas, Payoneer is a top online payment processor.

For digital marketers, If you work with clients in the US, UK, EU, Mexico, Japan, or China, Payoneer works incredibly well. With local receiving accounts in these nations, you may make unique invoices for your customers, keep track of impending payments, and receive payment in a variety of currencies. From the perspective of your clients, it can give the impression that you are much larger and more established than you actually are. However, this platform is not the right choice for you if you want to send money internationally to family and friends or use their prepaid debit card as your main method of payment because Payoneer only accepts commercial transactions and is all about payments.

Additionally, Payoneer has limits on certain transactions as a maximum of $15,000 USD, €15,000 EUR, or £15,000 GBP applies to credit card payments and $15,000 USD applies to eCheck payments made in response to payment requests made by other Payoneer users. A monthly limit of 100,000 USD applies to payments made by other Payoneer users. Consider different providers if you plan to conduct larger transactions.

Payoneer Pros

  • Local receiving accounts in many currencies: USD, GBP, EUR, MEX, AUD, JPY, and CNY.
  • Free worldwide Payoneer to Payoneer transfers
  • 24/7 customer service in multiple languages

Payoneer Cons

  • You can only receive Swift/Wire transfers from business bank accounts.
  • Many types of fees which includes the Payment fees, Receiving fees, Withdrawing fees,Currency Exchange Fees and an Annual Fee if the account is unused for 12+ months.
  • High card transaction fees
  • It is not a supported payment option and presents a challenge for online sales.


Monzo is a full-licensed digital bank established in 2015 and is one of the UK’s best banks for digital nomads and travelers. Only GBP can be used to open a bank account with Monzo and users looking for a neobank with the best options for categorizing spending are advised to use it. At Monzo, you can view your spending broken down by the type of transaction (such as dining out, shopping), and here is where the bank excels.

Monzo also offers smart savings, which rounds up your real purchases and saves the difference and these your savings are subject to interest. It costs nothing to send money in the same currency as your Monzo account (inside the UK, GBP). However, outside of the UK, Wise offers Monzo’s international transfers. With a set cost of €0.50 EUR and a variable rate of 0.41% if you send money in a currency other than GBP, the fee structure is similar to Wise’s international transfer structure. Additionally, Monzo provides a set number of free international cash withdrawals before adding 3% to further withdrawals. In contrast to other digital banks, you cannot purchase a more expensive subscription in order to receive an infinite number of ATM withdrawals.

Monzo Pros

  • Has a banking license
  • Interesting payment splitting and budgeting features.
  • Interest and savings rates that are competitive.

Monzo Cons

  • Only available to UK residents
  • ATM withdrawal costs increase after the initial free number of withdrawals
  • No upgraded premium accounts available


Monese is one of the more experienced digital banks and was founded in 2015. The first 100% mobile current account was made available by this company, which was created in the UK. In contrast to Monzo, it now also provides the option to open a EUR, GBP, and RON account, and it is constantly growing its range of services. Monese can be used to shop online as you can set up Apple pay or goggle pay and you can also earn interest from your savings. Monese is a fantastic choice for you if you want to easily access a current account in these currencies while also saving money when you travel and you live in the UK or the eurozone, as it is also available for residents of the 31 nations of the European Economic Area. It’s also fantastic if you want to open a UK account quickly and easily without having to provide verification of your address, utility bills, or a UK credit history. Monese can be used through a mobile app, and it also has a desktop website that can be accessed for contact and informational reasons. But at the moment, Monese doesn’t provide any further features, like investments or insurance.

Monese has 4 account plans:

  • Starter – Free
  • Essential – £1.95 /month
  • Classic – £5.95 /month
  • Premium – £14.95 /month

Monese Pros

  • Quick, simple setup and smooth app, excellent user experience
  • Enjoy UK bank account features without providing proof of residency or credit history.
  • Premium subscription choices come with extra privileges.

Monese Cons

  • Doesn’t have a banking license (no deposit guarantee)
  • Monthly limits on ATM withdrawals, top-ups, spending
  • Poor customer support


Chime is an American technology-driven neobank that delivers a range of financial services directly from a mobile app. Founded in 2013 and headquartered in San Francisco, Chime aims to simplify personal finance with no hidden fees, automatic savings tools, and real-time transaction alerts. Chime is only available to residents of the United States of America (USA).
With Chime, you can transfer payments, earn interest on your savings, and receive direct deposits up to two days early. In their Credit Builder account, Chime absolutely excels. A debit card that doubles as a credit card is similar to Credit Builder. You can load the funds onto your credit card and use the whole amount that was deposited. Chime’s Credit Builder is an excellent way to improve your credit score or even obtain one if you’re trying to do so as you won’t be charged for international transaction fees while using it for regular transactions.

Chime Pros

  • Receive direct deposit up to two days early
  • Access to more than 60,000 ATMs˜
  • Build credit with no credit check and no fees

Chime Cons

  • Only available to U.S residents.
  • No branches exist for in-person assistance.
  • Only those who get direct deposits can use mobile check deposit.

Final Thoughts

Deciding which bank is best for digital nomads depends on a number of variables, including accessibility, convenience, financial services, and personal preferences. It is advised for digital nomads to carefully consider their own needs, compare the features and advantages provided by each bank, and come to a well-informed conclusion based on their particular circumstances and priorities.
It is important for digital nomads to keep in mind that this judgment is only a general one, so they should do more research, read customer reviews, and take into account their unique circumstances before deciding which bank would best meet their needs.

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