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Opening a bank account is one of the first things you need to do when you move to a new European country. Without a local bank account you cannot receive your salary, pay rent, or send money home to your family. However, many immigrants find this process confusing or are turned away by banks. This guide will help you understand exactly how to open a bank account in the most popular European countries for the Asian community.

WHY YOU NEED A LOCAL BANK ACCOUNT

Without a local bank account in Europe you will face higher fees for international transfers, difficulty receiving salary payments, inability to pay rent by direct debit, problems proving your financial stability for visa renewals, and high charges when using foreign cards.

WHAT DOCUMENTS DO YOU NORMALLY NEED?

Most European banks require: valid passport or national ID card, proof of address (utility bill, rental contract or official letter), tax identification number (NIF in Portugal, NIF/NIE in Spain, etc.), proof of income or employment contract, and in some countries, your residence permit or visa.

OPENING A BANK ACCOUNT IN PORTUGAL

In Portugal, the main banks are Caixa Geral de Depósitos (state bank), Millennium BCP, Novo Banco, and Santander. As a foreigner you will need your passport, NIF (Número de Identificação Fiscal), and proof of address.

Your NIF is essential — you cannot open a bank account without it. You can get your NIF at your local Finanças (tax office) or through a lawyer even before arriving in Portugal.

Many community members recommend Millennium BCP or Caixa Geral as they have staff who speak English and are experienced with immigrant customers. You can also find Bengali and Pakistani speaking financial advisors through BDGOL.COM.

OPENING A BANK ACCOUNT IN FRANCE

In France, BNP Paribas, Crédit Agricole, La Banque Postale, and Société Générale are popular choices. La Banque Postale (Post Office Bank) is known to be the most foreigner-friendly as they are legally required to offer basic banking services to all residents.

You will need your passport, proof of address, and titre de séjour (residence permit). French banks can be strict about documentation so have everything ready.

OPENING A BANK ACCOUNT IN GERMANY

In Germany, Deutsche Bank, Commerzbank, Sparkasse (savings banks), and N26 (online bank) are common choices. For recent arrivals, N26 is very popular as it is a fully digital bank that is easier to open online without visiting a branch.

You will need your passport, Anmeldebescheinigung (registration certificate from your local council), and in some cases your residence permit.

OPENING A BANK ACCOUNT IN POLAND

In Poland, PKO Bank Polski, Santander Bank, and mBank are widely used. Poland has a large and growing Bangladeshi community, especially in Warsaw and Lodz. Most banks require your passport, PESEL number (Polish identity number), and proof of address.

ONLINE BANKS — THE EASIEST OPTION FOR NEW ARRIVALS

If you have just arrived and don't yet have a proof of address or residence permit, online banks are often the best starting option:

Wise (formerly TransferWise) — available across Europe, very popular for cheap international transfers to Bangladesh, India, and Pakistan. You can open an account with just your passport.

Revolut — available across Europe, easy to open online. Excellent for sending money internationally at low rates.

N26 — German digital bank available across the EU. Easy online application with just a passport.

These digital banks are not full replacement bank accounts but they are excellent for daily use while you wait for your official bank account.

SENDING MONEY HOME — BEST OPTIONS FROM EUROPE

For sending money to Bangladesh, India, or Pakistan from Europe, avoid using traditional banks which charge very high fees. Better options include:

Wise (cheapest for most transfers), Western Union, MoneyGram, bKash international (for Bangladesh), and local community money transfer businesses listed on BDGOL.COM.

Find money transfer services and financial advisors near you on BDGOL.COM — trusted by the Asian community across Europe.

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