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Being able to live and work anywhere around the globe can be a dream come true, but if you don't make the right decisions for managing your finances as a digital nomad, you could run into some serious issues. The right financial tools can make a difference, whether paying rent in Lisbon, grabbing a pain au chocolat in Paris, or withdrawing cash in Buenos Aires.
I remember having to pay a $6 ATM fee in Barcelona just to access my own money. The best banks for digital nomads are those that have little to no ATM fees and no foreign transaction fees. Let's look at some of the best online banks for when you're on a nomad workcation.
How we evaluate products
Location-independent workers who travel the world and work in different countries have unique needs when it comes to banking. For this article, we considered features that help make a digital nomad’s banking experience easier. This primarily includes banks that don’t charge foreign transaction fees, have a wide network of fee-free ATMs, and offer lower-cost options for transferring money and converting currency internationally.
| Bank | Great for | ATM fees | Foreign transaction fees |
| Charles Schwab | Investing | None
Third-party ATM fees are refunded |
None |
| Wise | Multi-currency banking services | Only two free ATM withdrawals per month, $1.50 after | Starting at 0.57% |
| Discover | Cashback rewards | No ATM fees in-network
Doesn't refund third-party ATM fees |
None |
| Capital One | One-shop banking | No ATM fees in-network
Doesn't refund third-party ATM fees |
None |
| Revolut | Sending money internationally | No in-network fees
2% out-of-network transactions |
Limited fee-free exchange transactions depending on the plan |
Charles Schwab
- Links to the Schwab One brokerage account
- No monthly, overdraft, or foreign transaction fees
- Unlimited worldwide ATM fee rebates
Charles Schwab is primarily known as an investment brokerage firm, but the financial company also offers banking products, including checking and savings accounts. The Schwab Bank Investor Checking account is great for those with a Schwab One brokerage account. If you don't already have a brokerage account, your new checking account automatically comes linked to one.
There are no minimum balance requirements on Schwab accounts and no monthly or overdraft fees. What's nice for digital nomads is that Schwab doesn't charge foreign transaction fees and also refunds fees on most ATM transactions, no matter where in the world you are.
However, the company doesn't reimburse ATM fees on Dynamic Currency Conversion (DCC) transactions, which is when you view and accept the amount of your transaction in U.S. dollars rather than the local currency. For example, if you are taking money out of an ATM in Spain, you could be asked if you want review and accept the transaction in euros (the local currency in Spain) or U.S. dollars. You should choose euros because there may be additional fees with U.S. dollars. The withdrawal will be dispensed in the local currency regardless.
My daughter lives in France and has banked with Charles Schwab since college in the U.S. The only difficulty she has had is with the two-factor authentication because it requires you to have a U.S.-based phone number. So she often has the verification code sent to me, which can be troublesome given the time difference.
- No foreign transaction fees and unlimited ATM fee refunds worldwide
- Ranked #1 in J.D. Power's 2025 U.S. Direct Banking Satisfaction Study
- Earns a little bit of interest (0.05% APY)
- No minimum balance requirement
- Doesn't accept foreign wire transfers
- Foreign ATM transactions in U.S. dollars may not be eligible for refunds
- Brokerage accounts are not FDIC-insured
Learn more in our Charles Schwab review.
Wise
- Works in over 160 countries and 40 currencies
- No subscription needed for a multi-currency card
- Low-cost international money transfers
Formerly known as TransferWise, Wise is more of an international money transfer service than a bank. Since 2011, digital nomads have used Wise to send money across borders in multiple currencies with real exchange rates and low fees. The company also offers multi-currency accounts to hold, receive, and convert money in over 40 currencies.
Its Multi-Currency Card enables you to make purchases abroad with no foreign transaction fees and automatic currency conversion at the real exchange rate (i.e., mid-market rate). Banks usually charge a markup, but Wise doesn't.
The downside with Wise is its fees and transaction limits. While the company says it is working toward eventually being fee free, it's not there yet. For example, you only get two free withdrawals of up to $100 each per month, then there's a fee of $1.50 each. You must also pay a 2% fee on withdrawals over $100. The cost for converting funds varies depending on the currency, starting at 0.57%
- Holds and converts over 40 currencies
- Uses the real exchange rate (i.e., mid-market rate)
- Discounted fees for large transfers
- Limited free withdrawals
- Has many fees
Discover
- Debit card purchases earn cashback
- No foreign transaction fees
- Discover was recently purchased by Capital One
Those working abroad will like that there are no foreign transaction fees with Discover's Cashback Debit checking account. Plus, it enables you to earn 1% on your debit card purchases on up to $3,000 each month, potentially giving you an extra $30 per month in your pocket.
Discover's debit card is part of the Allpoint ATM system, which operates about 60,000 ATMs worldwide. However, the countries outside the U.S. where you can find an Allpoint ATM are limited. While Discover says it doesn't charge ATM fees regardless of whether you are in-network or not, you may be charged a fee from the out-of-network ATM operator.
One thing to note: In May 2025, Discover was purchased by Capital One. While company officials claim that there won't be any immediate changes to Discover customer accounts, that may change.
- Earns cashback on debit purchases
- No fees, including foreign transaction fees
- Access to 60,000 fee-free ATMs, including some outside of the U.S.
- $30 service charge for outgoing wire transfers
- Debit card use may be limited outside of the U.S.
- Discover doesn't reimburse third-party ATM transactions
Visit Discover Cashback Debit | Learn more in our Discover review.
Capital One
- No foreign transaction fees on 360 Checking accounts
- There are no charges for out-of-network ATM transactions (but the ATM owner may charge fees that aren't reimbursable)
- No fees or minimum balance requirements
Capital One is a solid banking choice for location-independent professionals. Its 360 Checking account has no minimum balance requirements or fees, including foreign transaction fees. It also doesn't charge ATM fees. However, if you are using an out-of-network ATM outside of the U.S., you may still be charged a fee by the machine owner, which isn't reimbursable from Capital One.
My friend has been banking with Capital One for years and can't say enough good things about the company and its products. Capital One's checking account earns interest, although the rate is pretty low at 0.10% (as of 04/28/25) APY. However, if you open a 360 Performance Savings account, you can earn 3.60% APY.
One possible downside to Capital One for digital nomads is that international wire transfers are only done through branch locations, and currently there are only branches in the U.S.
- Interest-earning checking account
- No fees, including foreign transaction and ATM fees
- Access to over 70,000 fee-free ATMs
- International wire transfers are only done through branch locations
- Doesn't reimburse third-party ATM transaction fees
- Physical cafe and branch locations are only in the U.S.
Learn more in our Capital One 360 review.
Revolut
- Provides a high-yield savings account
- Has three plan options: Standard (free), Premium ($9.99/month), and Metal ($16.99/month)
- Works in multiple countries with 36 currencies
On the surface, Revolut looks like one of the best banks to use when you travel the world and work. It is designed specifically for international travellers, working with 36 currencies and enabling users to send and receive funds in multiple currencies and countries. However, it might not be the best bank for traveling workers due to its fees.
Revolut offers three different plans to choose from. The Standard plan is free but has more fees and fewer features than the paid plans. For example, currency exchanges are limited to $1,000 monthly, after which a fair usage fee of 0.5% applies.
There is also no discount on international transfers, which cost up to 5% of the transaction amount with a minimum of $10. You'll get more currency exchange transactions per month and discounts on international transfers with the Premium or Metal plans, but it will cost you. The Premium plan costs $9.99 per month, and the Metal plan costs $16.99 per month.
The APY on your Revolut savings account is between 2.75%-3.50% (as of 04/18/25) APY. You'll get a higher APY with the Premium or Metal plan and a lower APY with the Standard plan.
For people who work around the world, the Revolut Metal plan is the best bet. Although it costs $16.99 per month, it includes up to $10,000 in accidental medical insurance, up to $900 in trip delay expense coverage, up to $5,000 in trip cancellation and interruption protection, and protection for delayed, lost, or damaged baggage.
All Revolut accounts charge a 2% fee for out-of-network ATM withdrawals, but that fee may be lower for Premium and Metal plan users, depending on the transaction.
- Available in many countries and currencies
- Provides some fee-free foreign transactions
- No minimum balance required
- The number of fee-free currency exchange transactions is limited
- You have to upgrade to a paid plan to receive better benefits
- Charges a 2% fee for out-of-network ATM transactions
Using a credit card abroad
Whenever I travel to Europe, I use a credit card with no foreign transaction fees. This makes it easier to pay for things without having to worry too much about exchanging U.S. dollars for euros. This can be especially important for digital nomads who spend a significant amount of time abroad.
If you use a credit card on your travels, you also may need to notify the credit card issuer where you are going and when; otherwise, your purchases may be flagged as fraudulent charges and your card will be frozen. This happened to a friend of mine on a trip to Portugal.
Also, when using a credit card abroad, you will be asked if you want the transaction done in U.S. dollars or the local currency. You want to choose local currency because it avoids dynamic currency conversion (DCC), a process where the merchant handles the exchange rate, which often leads to less favorable rates and added fees.
Here are some good options for credit cards that don't charge foreign transaction fees:
Bank of America® Travel Rewards credit card
Bank of America's Travel Rewards credit card has no foreign transaction fees, and it enables you to earn travel rewards. This is great for freelancers who spend a lot of time traveling.
You'll earn 1.5X points on all purchases and 3X points per $1 spent on travel purchases booked through the Bank of America Travel Center and 3 points per $1 spent on travel purchases booked through Bank of America's Travel Center.
Plus, the card has an intro 0% APR on purchases for 15 billing cycles and an intro 0% APR on balance transfers for 15 billing cycles for any balance transfers made in the first 60 days. After the intro periods, the APR for purchases and balance transfers is 18.24% - 28.24% Variable.
As a new cardholder you can also earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
Read more in our in Bank of America Travel Rewards Card review.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred credit card is a FinanceBuzz favorite. It also has no foreign transaction fees and gives travel rewards points for purchases.
As a digital nomad, you will probably dine out frequently, especially in countries where going to a restaurant is relatively affordable. The Chase Sapphire Preferred card lets you earn 5X points on travel purchased through Chase Travel℠; 3X points on dining, select streaming services, and online groceries; 2X points on all other travel purchases, and 1X points on all other purchases.
The Chase Sapphire Preferred card does have a $95 annual fee, but if you do the math, the benefits may outweigh the fee. For example, you can earn a $50 hotel credit each year by booking hotels through Chase Travel. And, every year you earn a 10% anniversary point bonus. So if you earned 50,000 points last year, you'd get 5,000 bonus points.
Read more in our Chase Sapphire Preferred Card review.
FAQs
What is the best international digital bank?
The best international digital banks are those that don't charge foreign transaction fees and banks with no international ATM fees. Some banks, like Charles Schwab, reimburse all ATM fees regardless of where they're from. Other banks, like Capital One and Discover, don't charge ATM fees on in-network or out-of-network transactions, but there may be fees from the ATM operator.
Another feature to consider when looking for the best international digital bank is the cost of transferring funds internationally, especially for digital nomads who have family or finances in the U.S.
How do you file taxes as a digital nomad?
As a remote worker, you need to think about the tax considerations of the lifestyle. If you're a U.S. citizen, you still have to file a federal tax return every year, even if you live in a different country for most of the year. However, you may be eligible for tax breaks like the Foreign Earned Income Exclusion (FEIE), which can help you avoid double taxation. It's helpful to work with a tax professional familiar with expat or digital nomad tax laws.
Which credit card is best to use for international travel?
The best credit card for international travel doesn't charge foreign transaction fees and offers other benefits like travel rewards and trip protection. There are some credit cards that even include Global Entry or TSA Precheck. The Chase Sapphire Preferred card is one of our favorite credit cards to use for international travel.
Bottom line
When you're living the digital nomad life, your bank needs to travel as well as you do. The right bank can make life abroad smoother, especially when it offers low ATM fees, flexible currency options, or cashback perks.
Options like Charles Schwab and Wise stand out for their global ATM access and real exchange rates while Capital One and Discover offer no-fee checking with added benefits. If travel insurance and multi-currency features matter most to you, a premium Revolut plan may be worth the cost.
Before you make a decision on what bank is best for you, think about how often you'll need cash, how much you'll transfer between currencies, and whether you'll need to wire money back home. You may also want a travel-friendly credit card to maximize rewards and minimize fees. Your money should work for you, no matter where in the world you log in from.
Have a look at our list of the best banks for more options that might fit your needs.
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2025 award winner Best Online Checking Account