Reviews of cities, countries, employers and services abroad

Bank

Wise

Transparent and cheap for sending money to South Africa

I use Wise every month to send money from Singapore to South Africa. The exchange rate is the mid-market rate with a clear fee, so I know exactly what my family will receive. Most transfers arrive the same day. Compared with my bank's international transfer, I save about 2 to 3 percent each time. The multi-currency card is also useful when I travel around Asia, as I can hold baht, yen and ringgit. Verification when I first signed up took two days. It is not a replacement for a local bank account for salary and bills, but for international money it is my first choice.

Mid-market exchange rate

Clear fees

Not a full replacement for a local bank

Initial verification took two days

Thabo Mokoena2 months ago4

Bank

N26

The fastest way to get a German IBAN

I opened my N26 account on my second day in Berlin using my passport and visa, with video identification in the app. It took about 20 minutes, and my employer could pay my salary into it immediately. The app is in English and very clear, and spending notifications are instant. Transfers within the SEPA area are free and fast. The downsides: there are no branches, cash deposits are limited and cost a fee at partner shops, and customer support is chat-based and can be slow for complex issues. Some landlords and older companies still prefer a traditional bank. For the first months, it is excellent.

Opens in minutes

Clear English app

Bank

Monzo

Easy to open as a new arrival, great for budgeting

Traditional banks asked me for proof of address that I did not have in my first week. Monzo let me open an account with my passport and visa, and the card arrived in three days. The app shows every payment instantly and the savings pots help me set aside money for rent and sending money home. Customer support in the app has been fast and friendly. It is useful to have a second account with a high street bank later for things like branch services and some mortgages, but for day to day banking Monzo has been perfect for me.

Quick to open without proof of address

Bank

TD Canada Trust

Helpful newcomer package and long opening hours

I opened my account at a TD branch in Toronto in my first week using my passport and work permit. The advisor explained the newcomer package, which waived monthly fees for the first year and gave me a credit card without a Canadian credit history. The branch is open on Saturdays, which is important for my work schedule. The app is simple to use. After the first year, the monthly fee started unless I kept a minimum balance, so I had to change account type. International transfers to the Philippines are expensive through the bank, so I use another service for those.

Newcomer package with fee waiver

Credit card without credit history

Bank

SBI Shinsei Bank

Foreigner-friendly banking in Tokyo

After my first bank turned me down because I had been in Japan for less than six months, a friend recommended Shinsei (now SBI Shinsei Bank). I opened an account at a branch in Tokyo with my residence card and a Japanese phone number. The online banking has an English interface, which is rare in Japan. ATM withdrawals at convenience stores were free or cheap depending on my account level, and international transfers were possible, although not the cheapest. Staff were patient with my Japanese. Branches are limited outside big cities.

English online banking

Accepted new arrivals