“Best bank” lists are usually written for people optimising a sign-up bonus. For Americans abroad the question is different and much more serious: which institutions will still want you as a customer when your address says Portugal?
Forget the marketing pages. These are the five tests that matter:
Historically the single most-recommended setup in the expat community: checking accounts attached to major brokerages (Charles Schwab’s investor checking being the famous example) — typically offering global ATM fee refunds, no foreign transaction fees and genuine tolerance of internationally mobile customers. Verify the current policy before opening, and note the brokerage side may have separate expat rules (see our brokerage guide).
Institutions built to serve Americans posted overseas — State Department Federal Credit Union and similar — are structurally comfortable with foreign addresses because that’s their membership. Membership requirements are often broader than people assume (some allow joining via an affiliated association).
Digital banks have no branch expectation and often lighter fees, but policies on foreign addresses vary widely and change fast. Fine as a secondary account; confirm the address policy in writing before making one your primary.
Wildly inconsistent — the same bank can be fine for one expat and close another’s account. If you love your current big bank, keep it as a secondary while establishing a primary at an institution from the groups above.
Don’t hunt for one perfect bank — build a resilient pair: a primary at a genuinely expat-friendly institution (your direct deposits, bill payments and savings), plus a secondary at a different institution as a fallback for the day something gets frozen, flagged or reviewed. Add a local account in your new country for daily spending (see how Americans open European accounts) and connect the two sides with a low-cost transfer service rather than bank wires.
Open the right accounts before you move — almost everything on this page is easier with a US address still on file. Which institutions fit your specific situation, state and timeline is exactly what we map in the Expat Money Assessment.
This article is general information, not financial advice or a recommendation of any institution. Policies change frequently — verify directly before opening or closing any account.
Every bank and brokerage has its own expat policy, and the cheap fixes are only available while you’re still in the US. We check yours account by account — in writing, before you change a thing.
A written, account-by-account review of your banking, brokerage, retirement and currency setup — and exactly what breaks when you move.
See what’s included SERVICE 02Your move has a date — your money needs one too. A step-by-step sequence of what to do, in what order, before and after you go.
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