Opening an Account for Relocators

For various reasons, some individuals who are citizens of other countries need to open a bank account, obtain a card, or make transfers. Reasons may include:

• Receiving transfers from friends or family
• Receiving a salary or other remuneration
• Sending money to children, parents, or for work-related needs
• Making purchases or sales of property or investments
• Other personal or business reasons

However, in reality, it is often not so easy to do this for several reasons.

Challenges Foreigners Face in Accessing Banking Products

Many foreigners face obstacles when trying to open bank accounts or obtain bank cards. This is often because traditional banks:

• Require in-person visits to branch offices
• Request numerous documents
• Take three to five days to review applications
• Charge account-opening fees of €50–€100

Choosing a Bank Account for Relocators

For those who live in Europe or plan to spend a long period there, a bank account becomes a necessity. While many public and commercial banks used to offer convenient options for using cards and withdrawing cash abroad, today this may be impossible for some citizens or significantly more expensive than in their home country.

With the implementation of stricter regulatory requirements in several European countries, financial institutions are intensifying compliance procedures for new clients and their beneficiaries. Traditional banks generally offer more complex conditions and a longer account-opening process. Although many claim to provide broad accessibility and easy access to financial products, in practice this is not always the case.

What to Consider When Choosing a Financial Service

Key factors to consider include:

• Eligibility requirements for specific categories of individuals
• The list of required documents for account and card opening
• Costs for account setup, maintenance, and transaction fees

Financial Services for Foreign Individuals

Credits is a leading multi-service financial platform offering both standard and innovative financial services in one convenient app, including:

• Individual IBAN accounts
• SEPA transfers
• Visa debit cards
• Cryptocurrency accounts

A unique card for crypto users

1. A debit Visa card
2. Top it up from cryptocurrency
3. Spend it online and in stores
4. Use it worldwide wherever Visa is accepted

Detailed Overview of Each Feature

1. Individual IBAN Account

   An individual IBAN account for storing funds, similar to a traditional bank account, allowing transfers to friends, relatives, and family members.

2. SEPA Transfers

   With an account, you can make payments across Europe and internationally via SEPA and, where available, SWIFT, allowing transfers to friends, family, for salary payments, and other transactions.

3. Visa Debit Card

   A standard debit card for in-store and online payments. It provides a convenient way to pay and withdraw cash internationally. The card can be obtained online by downloading the Credits mobile app, available on iOS, Android, or via a web browser.

4. Cryptocurrency Accounts

   Receive, transfer, and purchase cryptocurrency within the Credits app. Use Visa and Mastercard cards to buy cryptocurrency and withdraw funds to cards globally. Fund your Credits card and IBAN account through the Credits mobile app.

To get started, download the Credits app, available on iOS, Android, and web.

Fully Remote Account Opening and Free IBAN

Credits offers SEPA and crypto transfers. Use personal Visa and Mastercard cards to fund your account and send cryptocurrency to any wallet worldwide with just a few clicks — all in the Credits app. You can also make and receive instant transfers via SEPA Instant.

Credits is a versatile app with Visa debit cards, IBAN accounts, SEPA transfers, and cryptocurrency accounts. Use your personal Visa and Mastercard cards to fund the account and send cryptocurrency to any wallet globally in just a few clicks. Receive cryptocurrency and withdraw funds to Visa and Mastercard cards, while SEPA Instant transfers offer convenient access to your finances.

Open your Credits debit Visa card

Top up your card and manage your funds in one place.

Use it for everyday payments online and offline.

Get started

Benefits of Using Credits for Opening an Account for Relocators

In a rapidly changing financial landscape, exploring different banking and fintech options like Credits can help you choose the best solution for your needs.

• No need to visit a bank branch; all processes can be completed online.
• Account opening for residency permit holders takes only one hour.
• Simplified KYC requirements: you only need to provide ID and proof of address.
• Fully remote IBAN account opening.
• No deposits are required; everything is completely free.
• Account opening, receiving funds, and storing money in the account are all free of charge, with no fees for holding funds in the account.

Unique Opportunities with Credits

Credits is a modern multi-service fintech platform providing EU citizens and residency permit holders with quick access to banking and cryptocurrency services via a convenient mobile app or web browser interface.

Credits Financial Services Offer Greater Convenience for Users

New companies like Credits offer more user-friendly services for people in Europe and globally. Key advantages include the simplicity of account opening and fully online onboarding. Traditional banks typically have more complex conditions and a longer account-opening process. Despite claims of broad accessibility and easy product acquisition, in practice this is not always the case.

In many European countries, regulatory requirements in the banking sector are becoming stricter. This means that financial institutions are intensifying compliance procedures for new clients and declining services to those who do not meet updated standards.

Difference from Traditional Banks in Account Opening for Relocators

Unlike traditional banks that require physical presence and a long list of documents for opening an account, Credits allows you to open an account with a more convenient digital process. This makes Credits accessible to a wider range of users, offering low service fees and a reliable compliance framework without the bureaucratic barriers typical of traditional banks.

Credits – The Ideal Solution for Modern Users

With its unique approach to account opening, support for non-standard documents, and extensive cryptocurrency services, Credits provides flexibility and convenience for users who need international access to their funds. Credits is a strong option for those looking for reliable, modern financial tools to manage their assets in a single application.