European IBAN for Non-Residents and Expats | Secure Your IBAN in 2025

In most cases, a European bank account provides an IBAN issued in one of the EU countries. An IBAN (International Bank Account Number) is essential for facilitating international money transfers. With this account, you can securely transfer funds across the EU and globally, making it an indispensable tool for non-residents, expats, and those with European residency.

European IBAN Accounts for Non-Residents

The European banking system remains one of the world’s most robust, known for its stable currency and reliable financial institutions. Despite recent strict regulations, especially regarding transparency, non-residents can still open a European bank account by proving legitimate financial activities. Although it may seem challenging, it’s entirely possible for eligible non-residents.

Who Needs a Non-Resident Bank Account?

Non-residents seeking to open a European bank account typically need to demonstrate some form of connection with the country in question. This could include:

Entrepreneurs and Freelancers: Individuals dealing with clients or suppliers based in Europe.
Asset Managers: People looking to diversify their financial portfolios.
Frequent Travelers: Even those primarily traveling for tourism may find a European IBAN beneficial.

How Do IBANs Work?

When sending money internationally, having the correct IBAN is crucial to ensure your funds reach the intended destination. IBANs simplify this process by using a standardized system that identifies your recipient’s account details accurately, reducing errors and ensuring swift transactions.

The IBAN number is processed through your financial provider’s payment system, with each institution verifying account information to ensure a successful transfer. If the IBAN is approved, the transaction is completed.

Documents Needed for an IBAN with a Residency Permit

Each country and bank applies its own Know Your Customer (KYC) procedures, which vary depending on the service provider. To open a European IBAN account, the following documents are typically required:

Passport or ID card
Residence permit
Proof of address (such as a utility bill or rental agreement)
Business registration documents (for business accounts)
A letter explaining your need for the IBAN account (e.g., for receiving client payments)
Recent bank statements and a reference letter from your current bank

Get a Personal IBAN and Non-Resident Account at Credits

Credits offers personal IBANs and Non-Resident accounts with full remittance services. These accounts come with dedicated IBANs and can be opened by both EU and non-EU residents. If you hold a EU or UK passport, the account is free. For non-EU residents, the account is available with a minimal fee. Check the Credits homepage for detailed information.

European IBAN Accounts for Non-EU Citizens: Key Advantages

A European IBAN account offers several benefits for non-EU citizens, including:

SEPA Payments: Easily make SEPA payments within any EU country.
International Transfers: Send and receive money across borders without complications.
Online Banking: Access secure online banking services anytime.
European Payment Cards: Use both physical and virtual cards for payments within the EU and globally.

The Eurozone: How Many Countries Use the Euro?

The Euro (€) is the official currency of 20 out of the 27 EU member states, forming the Eurozone. However, several Schengen Zone countries still use their local currencies, including Bulgaria (BGN), Czechia (CZK), Hungary (HUF), Poland (PLN), Romania (RON), and Sweden (SEK). Most of these countries are expected to adopt the euro soon. If you are residing in any of these countries or conducting business there, you should consider opening both euro and local currency accounts to meet your financial needs.

SEPA Instant: Real-Time Money Transfers

With a SEPA Instant account, you can make real-time transfers across Europe. The advantages of SEPA Instant include:

Immediate Transfers: Money reaches the recipient’s account in less than 10 seconds.
24/7 Availability: Send money anytime, anywhere, all year round.
Broad Coverage: Supported in 36 countries across Europe and the UK.
No Hidden Fees: Transparent pricing ensures no surprises.

SEPA Transfers: Cross-Border Payments Made Easy

SEPA transfers make cross-border payments within Europe as simple as domestic transfers. SEPA covers 36 countries in the EU, EEA, and EFTA, including the UK. Key features include:

Low Transaction Costs: Cheaper than traditional international transfers.
Fast Execution: Transfers take between 3 and 24 hours to complete.
Secure and Accurate: Enhanced security measures ensure safe transactions.

Send Money from Europe Easily

European bank accounts offer access to advanced fintech solutions, allowing you to send money internationally, instantly, and with minimal fees. Credits, for example, enables money transfers from Europe to over 55 countries worldwide through its website or mobile app.

Open a European IBAN in Just 10 Minutes

For a faster alternative to traditional banking, Credits offers an easy registration process, enabling you to open an EU IBAN account in just 10 minutes. By submitting your documents online, you can open a business account with a dedicated EUR IBAN and start managing your finances seamlessly.

Opening an IBAN Account for Residency Permits

Opening a European IBAN account with Credits is straightforward and paperless. Once your account is open, you can make Eurozone transactions via SEPA with ease. Simply download the Credits app on iOS or Android, and complete the registration process in minutes. Their dedicated customer support is available to assist with any queries or account management concerns.

What is an IBAN for Non-Resident Accounts in Europe?

Non-resident accounts at Credits provide the same features as local accounts, including secure storage, payments, and remittance services, but at a fraction of the cost. You can also opt for a prepaid card, easily loading funds from your Credits IBAN for convenient access.