Accepting a job abroad is a big step. New opportunities, a new culture, and often a fresh start. But while you’re thinking about housing, visas, and packing your life into a few suitcases, banking is easy to overlook—until it becomes urgent.

From getting paid on time to covering upfront relocation costs, having the right banking setup early can make the difference between a smooth transition and weeks of frustration. A simple checklist helps you stay prepared and focus on the excitement ahead.

Setting up a bank account in a new country

One of the first practical questions expats face is whether they need a local bank account. In many countries, employers require a local IBAN to pay your salary, and landlords or utility providers often won’t accept foreign accounts for direct debits.

Opening an account can take time, especially if local banks require proof of address, tax numbers, or in-person appointments. That’s why it helps to research your options before you move—including digital banks that allow you to open an account remotely. The sooner your account is active, the easier it is to settle in and avoid delays with salary payments or bills.

Understanding currency, fees, and salary transfers

Working abroad often means dealing with more than one currency, especially if your savings, expenses, or obligations remain partly in your home country. Without the right setup, exchange fees can quietly add up every time you get paid, transfer money, or use your card.

It’s important to understand which currency your salary will be paid in, how conversions work, and whether your bank charges extra for international transfers or card payments. Having visibility into exchange rates and fees helps you avoid unpleasant surprises and keep more of what you earn.

Managing relocation costs and deposits

The first few weeks abroad are usually the most expensive. Rental deposits, temporary housing, furniture, transport passes, and registration fees often need to be paid before your first paycheck arrives.

Planning ahead means making sure you have easy access to your money during this period. Keeping relocation funds separate from day-to-day spending can help you stay on track and avoid dipping into savings meant for other goals. Clear oversight of your balance — especially when costs are coming from multiple places—brings peace of mind when everything feels new.

Planning for taxes across borders

Taxes can be one of the most confusing parts of working abroad. Depending on your situation, you may need to deal with tax obligations in more than one country, at least during the transition period.

Before accepting the role, it’s worth checking where you’ll be considered a tax resident, whether your income will be taxed at source, and if you need to set aside money yourself. Keeping income and expenses well organized from the start makes future tax reporting much easier—and helps you avoid last-minute stress later on.

Make your move easier with bunq

Moving abroad comes with enough unknowns—your banking doesn’t have to be one of them. bunq is designed with expats in mind, offering flexible accounts, multi-currency support, and full control from one app, wherever life takes you.

Discover how bunq helps expats manage money across borders with confidence and simplicity.