Easiest European Country to Open a Bank Account: A Comprehensive Analysis

Opening a European bank account can be a straightforward process, but the ease largely depends on the country you choose, your residency status, and your financial profile. Whether you're a freelancer, digital nomad, business owner, or expatriate, understanding which European country offers the least hassle when opening a bank account is key to managing international finances smoothly.

Why Is Europe a Preferred Region for International Banking?

Europe offers a diverse range of banking systems known for their stability, regulation, and accessibility. Many countries in the EU and EEA support:

• Multi-currency bank accounts

• SEPA (Single Euro Payments Area) payments

• Fintech and EMI (Electronic Money Institution) alternatives

• Non-resident banking options

• Digital onboarding via video KYC

What Makes a Country “Easy” for Bank Account Opening?

Before naming specific countries, it’s important to define what makes a country "easy" in terms of banking access. Generally, it includes:

• Minimal residency requirements

• Low bureaucratic burden

• Digital account opening processes

• English-speaking support

• Accepting non-resident or foreign clients

• Straightforward KYC (Know Your Customer) procedures

Top 3 Easiest European Countries to Open a Bank Account

1. Estonia

Estonia leads the way in digital innovation, and its e-Residency program makes it exceptionally easy to open a bank or fintech account remotely.

• Pros: E-residency allows remote company setup and access to digital banking services like Wise or Payhawk.

• Cons: Traditional Estonian banks are still selective about onboarding foreign individuals or businesses without local presence.

  
  

2. Lithuania

One of the fastest growing banking and Fintech hubs in Europe, offers some of the most liberal banking policies in the region.

• Pros: Bank accounts can often be opened in several days completely online. Foreigners are welcomed.

• Cons: Requires transaction supporting documents above 10.000 Euros.

  
  

3. United Kingdom

UK is one of the most non-resident-friendly banking destinations within the EU.

• Pros: Many banks welcome foreigners. You can get all - SEPA, SWIFT and FPS capabilities within same bank account.

• Cons: Requires more documentation than fintech options.

If you would like to get an up to date list of best digital banks to open business bank account in Europe, fill out our contact form and we will send it to you by email.

Non-Resident vs. Resident Account

Resident Accounts

Opening a bank account as a resident is typically easier and grants access to full-service banking. However, it requires a local address and often a tax ID.

Non-Resident Accounts

Many individuals seek to open bank accounts without relocating. This is possible in some countries but often restricted to digital banks or EMIs.

Important points:

• Fintechs like Wise or N26 may offer non-resident solutions.

• Traditional banks may ask for utility bills or EU address proof.

• Non-resident accounts can have transfer or deposit limits.

What Documents Are Required For Account Opening?

While documentation varies by country and provider, you’ll generally need:

• Valid passport or national ID

• Proof of address (utility bill or rental agreement)

• Tax Identification Number (domestic or foreign)

• Reason for opening the account (e.g., business, salary, investments)

• Additional KYC for corporate accounts (company documents, UBO info)

Tip: Some banks may accept digital proofs or use video KYC solutions to verify your identity.

Should You Consider a Fintech or EMI Instead?

Yes, absolutely. Opening a traditional bank account can be bureaucratic in some countries. Electronic Money Institutions (EMIs) and digital banks are an alternative with faster, simpler onboarding. While not technically “banks,” they offer:

• EUR and UK individual named account IBANs

• Multi-currency support, both for receiving and sending funds domestically or abroad

• Crypto compatibility with on/off ramps for major cryptos and stablecoins

• SEPA/SWIFT/FPS access and fast settlements

• Lower fees compared to traditional banks

• Faster onboarding times compared to traditional banks

Common Challenges to Watch Out For

Even in the easiest countries, these obstacles may appear:

• Proof of address: Many banks want local proof, even if you’re a non-resident.

• Economic substance: Business accounts may require details on operations, partners, and financial projections.

• Crypto exposure: If your income is derived from crypto, some banks may decline onboarding due to perceived risk.

• Language barriers: In less tourist-oriented countries, documentation and support may not be in English.

Conclusion

If you’re seeking the easiest European country to open a bank account, the answer depends on your needs:

• Digital-only, remote setup: Try Estonia (via e-Residency) or Lithuania (via EMIs).

• Quick physical setup with low barriers: UK remains the most frictionless for walk-in account creation.

  
  

Always match your banking choice with your lifestyle, business model, and compliance

obligations. With the right preparation, opening a European bank account can be simple—even as a non-resident.