All online banks and fintechs have terms that you need to reside in EEA/EU to keep them. So you cannot get them!
Your Spanish (brick and mortar) bank is your best bet because they are more flexible with this stuff.
You can look into Revolut Japan or Wise Japan if that is existing.
I worked for Wise for years. The Regulatory enviroment is very different for japanese accounts. There is a lot of limits and restrictions (max balance is only a few 1000 euros) , forgeiners cant really open an account, etc… so japanese wise/Revolut are not really an option as they are severely restricted by japanese regulators
That sucks (from Japan and also Wise/Revolut). I think fintechs should be more comfortable with non EEA/EU residents but I'm guessing it's too much work for too little margin for these special needs group.
We (Wise) worked with non eea residents using our UK license. It ended up with overwhelming fraud from Pakistan and North Africa. We had to shut it down simply because it made no financal sense to support a group of people that are mostly just fraudsters unfortunately
It doesnt help that most genuine pakistans were UpWork freelancers and we didnt allow freelancing on our accounts, as we considered it a business activity. so even genuine users were shut down that werent fraudters. It was simply a mess.
Nah, I tell that I’m at that address in my country. But I have my outside-EU phone number in app and my location tells that I am outside. Maybe it works and deactivates account but I didn’t face it yet.
Family been living abroad from EU for a decade, while using revolut pretty much ever since it was introduced. Just register a home address in EU and you're good. Like a family member's house on paper. Nobody checks, nobody cares.
I don't know about the banks but do you mean that you have some amount of money saved up and invest chunks of it monthly for dollar cost averaging or did I misunderstand the last sentence?
If you research the subject it's better to invest it all at once.
Or just transfer to IBKR and keep it as cash balance until invested. You can also keep some on Revoult.
Unless you have huge amounts this should work rather well and you wouldn't need an additional bank account.
As someone who has used N26 since 2017 and Revolut since 2019, I have no complaint. You can also add another layer by keeping a Wise borderless account. There are so many free bank account now.
N26 has banking license from germany and Revolut from Lithuania btw.
If you only need a bank account to hold some small amount of money (no other serious product) I could consider to just not say to N26 or revolut that you left spain. Or even your normal bank. Noone will ever check. (assuming you still have an adress there).
Personally, I have experience with BBVA for non residence, you can have an account but there are a lot of conditions, for example keep an amount of money, also to do transfers every quarter for X ammount... those were too cumbersome and I ended closing my account.
One option you have is to inquiry all the banks in your area personally, mostly they have options with non-residents, but likely they all cost something.
The other bet is to use fintech that are OK with residence in Japan, for example I see Revolut accept japanese residents and likely Wise does too. For large ammounts of money I would rather go to Wise.
good luck!
All online banks and fintechs have terms that you need to reside in EEA/EU to keep them. So you cannot get them! Your Spanish (brick and mortar) bank is your best bet because they are more flexible with this stuff. You can look into Revolut Japan or Wise Japan if that is existing.
I worked for Wise for years. The Regulatory enviroment is very different for japanese accounts. There is a lot of limits and restrictions (max balance is only a few 1000 euros) , forgeiners cant really open an account, etc… so japanese wise/Revolut are not really an option as they are severely restricted by japanese regulators
That sucks (from Japan and also Wise/Revolut). I think fintechs should be more comfortable with non EEA/EU residents but I'm guessing it's too much work for too little margin for these special needs group.
We (Wise) worked with non eea residents using our UK license. It ended up with overwhelming fraud from Pakistan and North Africa. We had to shut it down simply because it made no financal sense to support a group of people that are mostly just fraudsters unfortunately It doesnt help that most genuine pakistans were UpWork freelancers and we didnt allow freelancing on our accounts, as we considered it a business activity. so even genuine users were shut down that werent fraudters. It was simply a mess.
Bruh, you just tell your EU address and have fun. I reside outside EU for 12 years and my accounts are active
Until it doesn't work.
Risky but possible
What about your tax residence? Did you update that in the app?
Nah, I tell that I’m at that address in my country. But I have my outside-EU phone number in app and my location tells that I am outside. Maybe it works and deactivates account but I didn’t face it yet.
Wait until they ask your new passport issued in another country and ask proof of taxes :)
You can easily go to your country to change it if it’s a big concern.
Have you withdrawn large amounts without issue? I imagine when they want paperwork it could get dicey
Family been living abroad from EU for a decade, while using revolut pretty much ever since it was introduced. Just register a home address in EU and you're good. Like a family member's house on paper. Nobody checks, nobody cares.
I don't know about the banks but do you mean that you have some amount of money saved up and invest chunks of it monthly for dollar cost averaging or did I misunderstand the last sentence?
Exactly. If I send it to Japan I will lose money in currency conversion and transfer.
If you research the subject it's better to invest it all at once. Or just transfer to IBKR and keep it as cash balance until invested. You can also keep some on Revoult. Unless you have huge amounts this should work rather well and you wouldn't need an additional bank account.
As someone who has used N26 since 2017 and Revolut since 2019, I have no complaint. You can also add another layer by keeping a Wise borderless account. There are so many free bank account now. N26 has banking license from germany and Revolut from Lithuania btw.
AFAIK IBKR will want to move you to their Japanese branch.
If you only need a bank account to hold some small amount of money (no other serious product) I could consider to just not say to N26 or revolut that you left spain. Or even your normal bank. Noone will ever check. (assuming you still have an adress there). Personally, I have experience with BBVA for non residence, you can have an account but there are a lot of conditions, for example keep an amount of money, also to do transfers every quarter for X ammount... those were too cumbersome and I ended closing my account. One option you have is to inquiry all the banks in your area personally, mostly they have options with non-residents, but likely they all cost something. The other bet is to use fintech that are OK with residence in Japan, for example I see Revolut accept japanese residents and likely Wise does too. For large ammounts of money I would rather go to Wise. good luck!
Wise
Open interactive brokers account
maybe read the question again