Most banks want proof of a permanent address before they’ll open an account. A digital nomad usually can’t produce one. Skip this step and every purchase abroad runs through your home bank’s foreign transaction fees instead. This guide covers accounts that work anyway: multi-currency apps, global payment platforms, a real foreign bank, and US business banking. Each section includes the paperwork that provider actually asks for.
1. Start with a multi-currency account
A Wise or Revolut account is the fastest realistic setup. Neither one depends on a lease or years of address history.
- Wise: holds and converts 40+ currencies and asks for a declared country of residence rather than a utility bill. If your ID and address don’t match, Wise may request a right-to-reside document. A UK address paired with a non-UK passport is a common trigger for that extra check. Keeping the two consistent saves a step.
- Revolut: available in 30+ markets with just a government ID and a live selfie. Some markets add conditions of their own. UK sign-up, for example, currently needs a UK address tied to the account itself.
- ATM access: Wise changed its ATM fee structure on May 1, 2026. Free monthly withdrawals now vary by currency. Australia allows up to 400 AUD, the UK 250 GBP, and Canada 100 CAD. A 2.69% fee applies above those limits.
Treat this account as a working account, not the only one. Wise and Revolut are electronic money institutions, not banks in the strict sense. A routine compliance hold can lock access for a few days. A funded backup account keeps that from turning into an emergency.
2. Add a payment collection account for clients
If income comes from international clients or marketplaces like Upwork or Amazon, Payoneer solves a different problem. It lets clients pay without every transfer routing through an expensive wire. Several major freelance marketplaces also list it as a built-in payout option.
- Local receiving accounts: a US routing number, a European IBAN, and a UK sort code, all under one account. Clients pay as if you were local.
- Annual fee: $29.95, waived once the account receives a minimum amount in a rolling 12 months. Payoneer’s own pages currently cite $2,000 as that threshold. Some older reviews still list $6,000, so check the figure in your account rather than assuming.
- Withdrawal costs: around $1.50 flat for a same-currency bank withdrawal, a 3% markup on cross-currency amounts, and roughly $3.15 per ATM withdrawal.
Payoneer earns its place as a receiving account, not a spending one. Its ATM and conversion costs run higher than Wise’s. Route money there to get paid, then move it somewhere cheaper to actually spend.
3. Open a real bank account where residency isn’t required
A fintech card can feel less like a real bank account. A handful of countries still open accounts for foreign passport holders with no residence permit, and Georgia is the clearest example. It pairs naturally with the country’s long visa-free stay for many nationalities.
- Documents: a passport copy and a completed KYC form. In-person applications at Bank of Georgia or TBC Bank in Tbilisi typically take 30 to 40 minutes. They skip proof of address entirely.
- Remote opening: possible, but it generally needs a notarized power of attorney rather than a video call.
- Deposit protection: capped at 15,000 GEL, roughly $5,500, well below most home-country deposit insurance limits.
- Interest: local-currency GEL deposits can pay around 11%, versus roughly 4.5% on USD balances and 1% on EUR. Rates move with the market, so confirm current figures before opening.
This route gives a genuine second bank account with an internationally recognized name behind it. Applicants from sanctioned countries are turned down by default, and a few other nationalities face closer scrutiny, so results vary by passport.
4. Form a US LLC if you bill American clients in USD
For nomads whose income is mostly US-based, a Mercury account tied to a US LLC handles USD invoicing. No Social Security Number is required.
- Formation first: register a Delaware or Wyoming LLC through a formation service, then apply for an EIN from the IRS. This step, not the bank account itself, is usually the slower one.
- ID accepted: a foreign passport or an ITIN stands in for an SSN.
- No physical presence needed: the entire process, from forming the LLC to opening the account, happens online.
- FDIC coverage: deposits sweep across a network of partner banks for FDIC insurance up to $5 million. That’s well beyond the standard $250,000 cap most single banks offer.
- Standard fees: no monthly fee and no minimum balance on Mercury’s standard business account.
This setup only makes sense with an ongoing reason to invoice in USD. A US LLC brings its own annual filing requirements on top of the bank account. Treat it as a deliberate business decision instead of a default fix.
The residency trap that freezes accounts
The real mistake isn’t failing to find an account. It’s mismanaging the one already open. Most providers cross-check a declared address against your IP address and where the card actually gets used. A mismatch that lingers for months can trigger a review, and so can a declared country that changes every few weeks. Either one can lock the account until a new document lands. Support tickets asking to prove a new address can take days to clear. Pick one declared country that a document can back up if asked. Update it deliberately, not every time you cross a border.
It also helps to separate two different things. A provider skipping proof of address to open an account says nothing about a home country’s tax authority. Banking flexibility has no bearing on tax residency. That typically depends on days spent somewhere, or ties like a home or family there. Banking and tax rules both shift without much notice, so confirm current terms directly with the provider. Talk to a qualified tax professional about your specific situation before assuming any of this settles where you owe tax.
Getting the banking sorted is what makes the rest of the move possible. Search flights on FlyBibe once the accounts are set up, and get moving on wherever comes next.