Best Banks for Expats in Europe: 2025 Pillar Guide (Accounts, Hidden Fees, IBAN, Real-World Scenarios)

Local SEPA account for admin + multi-currency account for FX/travel + an emergency vault. Don’t rely on a single account.

Pro tip: a non-local IBAN is legally valid across the EEA (SEPA). If someone refuses it → see §4.

Prep KYC → open local first → add multi-currency → test small transfer → notify payroll/providers → 60-day overlap.

Script EN – provider:

“Please update my Direct Debit to the attached IBAN. As a SEPA payment, this IBAN is valid across the EEA. Thank you.”

Quote SEPA, send screenshot, escalate/report if needed. Use the short script above.

Bank FX (margin + fee) → use Wise and mid-week FX; avoid cards for large amounts. ATM abroad → use local debit + fewer, larger withdrawals. ‘Urgent’ transfers → often useless; plan D-2. Card insurance packs → avoid duplicates.

Student ES→FR: start N26 (DE IBAN), then FR bank for payroll + CAF; keep N26 for travel + Wise for family transfers.

Employee DE→FR: open FR before first payroll, enable switching service, keep old 60 days.

Freelancer: multi-currency (Wise) + local account for VAT/invoices.

FR–CH cross-border: salary CHF → convert monthly via Wise or B-Sharpe → EUR (N26/FR bank) for rent/bills; handle specific declarations.

Keep PDFs of contracts/bills/pay slips. For transfers >€10k, split and add a justification note (lease, purchase). Foreign accounts: declare if required (e.g., FR 3916-BIS).

• Switching bank accounts in Europe (method + scripts)
• France–Switzerland cross-border guide
• Opening a European bank account