Are you the type of person who loves to travel or simply made a long-term decision to move over-seas to seek better opportunities? There are a lot of things to consider when you plan on moving abroad or even if it's just a short-term travel, you have to consider your safety especially when it comes to your finances. Consider going to your nearest and trusted bank and inquire about the advantages of having an account with international bank vs. a regular domestic one.
Every country has their own set of policies in their banks and this could be a disadvantage especially if you are in a country that may not technically use English as their second language. Signing up for an international account before settling in another place will save you from having to continuously transferring or opening additional accounts and having to close it if you suddenly move again to another country.
There are certainly many advantages and to cap off that, just to give you a guide, here are five advantages to consider.
Beside the fact that it is important the your bank account has online management tool, it is also advisable to consider bank that has branches worldwide. There many banks that run branches in foreign countries in which you can get first hand and quick service if necessary.
Avoid rejection of transactions
This is a very point to consider since not all establishments would honor your credit or debit card. Unlike with an international account, it would save you the trouble of having to open an extra account just for that specific country that you are currently situated in. The fact that the currency handled can be in Euro or US Dollars, two of the most common currencies it makes it easier to access your money worldwide.
Better transaction rates
Better transaction rates because as mentioned earlier, it's in Euro or US Dollars, similar to language, these are the universal currencies. It assures you to make the most of exchange rate fluctuations. Just imagine having to convert your money from to US Dollars then convert it again to another currency almost every time.
Faster customer service
Faster customer service because such an account comes with a 24/7 customer service that can attend to your needs wherever you may be. Compared to the local bank of the country that you might be in might not be able to understand your needs at once.
Online account access
As mentioned earlier in this article, another advantage is that it can be accessed online from everywhere. With the technology these days and the advantage of having Internet connection even through your phone makes banking very convenient. You don't necessarily have to go to the bank for certain transactions because all that can be done on your online banking site.
So think about the advantages of an international bank account. It is way more convenient especially if you travel internationally a lot and have to constantly move continents. It saves you from having to open an account and to your dismay, you actually have to move again a month or so later. Take advantage like this and make your life easier and hassle free because your finances will be your future security.