When deciding to become a digital nomad and travel the world while working, it is essential to have a bank to cover your needs abroad. There are online banks that offer their services from anywhere, although their range of services is still limited.

Some of the main drawbacks of maintaining a local bank account while living temporarily in different parts of the world include fees for international transfers, contacting the bank abroad and using ATMs, among others.

There is no online bank nowadays that has all the features of a traditional bank. There are solutions on the market that are adapting to this need, but they still have limitations. For example, some only allow deposits through bank transfers, others do not accept transfers, and so on.

The following criteria should be taken into account when choosing an online bank:

1. Foreign transaction fees

Banks may charge a percentage of the money spent using a credit card in a foreign country or un another currency. Although these are usually small amounts in principle, they can be decisive depending on the use of the card.

2. Mobile banking accessibility

It is important to bear in mind that having an application is often not the same as having a good service through it. It is recommended that the application is intuitive, clear, with good customer service and that it meets your particular needs (transferring funds, consulting your statement, being able to change currency, being able to freeze a stolen card...).

3. Offer the user the option to hold, buy, convert and spend multiple currencies (digital and fiat).

It is highly recommended to look for a bank that has worldwide availability, for example, the card can be used in any foreign country without any problem.

In addition, you should also take into account the fees you may be charged for currency exchange.

Nowadays, there are many banks that offer this type of service, for example: Revolut, N26, Wise or Payoneer.