Features of an International Bank Account

An international bank account has many of the same features as the typical domestic bank account, yet it also has several differences, including the ability to hold an account in multiple currencies.

Multiple Currencies

If you travel often among several countries, having an international bank account in multiple currencies can offer you several advantages. One is that you will have easy
access to local currency via ATMs.

You can also enjoy
significant exchange rate savings. Typically, a bank’s customers receive better exchange rates when exchanging currency than do people who do not hold accounts with the bank. There is also the opportunity to phone your bank and conduct the exchange as if you were right there in front of the teller. You will also be able to withdraw from an ATM in the local currency, saving on fees.

Easy International Transfers


With an international bank account, wire transfers are much easier and involve little to no additional paperwork or red tape. These banks are set up for this purpose, and unlike your hometown bank, they conduct these types of transactions on a regular basis and have no need of using a correspondent bank, as is typical with a small local bank. These transfers can often can be made available the same day they are sent.

Online Banking

Most international bank accounts give you the ability to conduct banking online including the ability to

  • access your accounts anytime, from anywhere in the world
  • transfer balances between accounts at your leisure, as needed
  • pay your bills in multiple locations online, anytime

Minimum Fees

Many of the banks that offer international bank accounts offer a significant savings on fees you would otherwise incur. In the case of holding multiple accounts, many will also attach a savings account that carries no fees and no minimum balances. This can prove beneficial when an emergency arises and you significantly deplete your savings. Most banks would begin charging you a monthly maintenance fee if you went below a minimum level.
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