Short answer
Bank accounts, transfers, currency, pensions and credit history for people whose finances do not fit one country. The answer to “How do Wise, Revolut and traditional banks compare on fees?” depends on a few factors below. Arthur can work through them for your situation and turn them into your Global Citizen Guide.
What it depends on
- Exchange rates and fees. How close the exchange rate is to the mid-market rate, and which fees apply to transfers and card use.
- Licence and deposit protection. Whether the provider holds a full banking licence with deposit guarantee, or is an e-money institution that safeguards funds.
- Opening from abroad. Whether you can open the account remotely, and which proof of address and residence is accepted.
- Cards and cash. Card acceptance, free ATM withdrawals and limits when travelling.
- Transfers and local rails. Speed and cost of SEPA, SWIFT and local payment networks, plus local account details.
Warning signs
- “No fee” transfers where the cost sits in the exchange rate
- Accounts that can be closed when you change your country of residence
- Unclear difference between a bank deposit and safeguarded e-money
Your situation, answered by Arthur
Tell Arthur where you are moving from and to. He covers:
- Which account type fits your situation
- What opening from abroad requires
- How fees compare for your transfer volume
