Sunday, February 13, 2011 -
By Relocation.com Staff
Most likely your current bank will have another branch or partner branch abroad. If it does not, ask your bank for recommendations on banks in your destination country. If you are being relocated by your company, they will be able to help you in this area. Whoever you decide to open an account with, Relocation.com has a few pointers to offer about transferring to a new bank:
- Although most credit cards are global nowadays it is advisable to obtain new cards once you move and dispose of the others. If you continue to use your current credit cards you will have to pay for the difference in currency rates and may incur additional fees. Keep this in mind when considering your options.
- Request bank and credit references for use when you open a new account abroad.
- You can option to open a bank account at a worldwide financial institution. By doing so your check cashing privileges can be more readily acquired and your emergency account will be more accessible.
- Remember, there is no limit on the amount of money that can be transferred from one financial institution to another.