Thinking of moving to the UK or relocating to Europe to work for a large corporation, tech company, charity or startup? Even when employers offer to support you with opening a local banking account the process of getting setup can still be long and painful for expats.
To get local accommodation you need to have a bank account and data footprint in the country - so the landlord can run identity and credit checks
But to get a local bank account you need to have accommodation in the country so you can provide utility bill letters proving you live in the country so the bank can run identity and credit checks
This just doesn’t make sense.
Even supportive employers are often powerless to help expat staff navigate this tricky situation. There can be other barriers to opening a local banking account if you are an expat. Some banks require ‘non-resident’, or ‘newly resident’ customers to have salaries in excess of £100,000 or ask for a huge upfront deposits.
At Monese we have simplified the process of opening an account as an expat. All you need is our powerful mobile app, and in a few taps you’ll have a local account complete with personal account details so you can receive wages from your employer. We don’t need to run credit checks on new customers and we don’t need to see local proof of address. Our technology does all of the smart heavy lifting in the background, so you can have an easy, stress free experience settling into a new country.