Moving to a new country as an expat can be exciting and terrifying in equal measures. Although you’re leaving behind your life and the security that comes with living in a familiar place, settling abroad can be the beginning of a completely new, exhilarating adventure. Some needs, such as opening a new bank account, often turns out to be one of the big challenges.
However, dealing with some priorities from the comfort of your home before moving, ease the relocation process. Opening your new bank account is one of these.
Lot of people may have told you some documents are required to open a bank account in Germany – such as the anmeldung. Ocyan offers many advantages like opening a bank account for non -residents. Let’s find out more.
What You Need To Open A Bank Account In Germany
Trying to open a bank account as an expat is an extremely cumbersome task, if not impossible altogether.
Why, you ask?
To begin with, you need to provide a fixed address, which can be difficult to procure if you’ve just landed in a new country. Apart from the address, you will also need a residency ID permit for your new country, your employment contract and bills in your name, which can also take several weeks of time.
And even after weeks or months, if and when you manage to get all the required documents, it takes a while to open a simple bank account with a local bank because of the tons of formalities.
Considering the fact that we do everything on our smartphones today, doesn’t it make sense to manage your banking from your smartphone as well?
Enjoy The Power To Manage Your Banking Online With Ocyan
With Ocyan, there is no need to get hassled with tons of paperwork and week-long waits to open a bank account. Move your money on the go, anywhere anytime. Take advantage of financial technology to manage your money.
A Non- Traditional Banking Option. Streamline Your Finances
At a certain point in your expat life -weather in the early start to invest in your carreer or once you’ve settle down- it’s very common to apply for a loan.
This could be dounting. As an expat, you can’t pack up your financial history and illustrate the lenders your credibility. When you relocate you start building your financial background from scratch. It could takes two or three years before lenders see you as a trustworthy client.
In Germany, the banks check your credit score and history using SCHUFA, a credit agency to protect its clients from credit risks. However, your history exists only if you have lived in Germany for serveral time. Therefore, it will be difficult to open a bank account.
Why Opening Your International Bank Account through Ocyan?
What Ocyan does is bringing your financial history along with you in the relocation process. Ocyan is the only financial marketplace for expats that helps you build a clear financial credibility for future lending.
Ocyan allows you to open your bank account in minutes by signing up with their banking partner bunq. It’s a simple procedure that just requires your mobile phone.
You can open your bank account anywhere and any time of day in just a few minutes. Once your account is opened, you can do all your everyday banking tasks from a simple mobile app.
How To Open A Bank Account Online With Ocyan?
Ocyan connects you with their banking partner Bunq. You don’t need to be a resident to open your bank account.
All you need to do is simply subscribe for free on Ocyan and access Bunq by following simple steps. You can create your account in minutes providing few information – your country of residence, your personal details, and create a secure PIN. The verification process is simple and can be done either by a photo of your ID and selfie or a video call with customer service.
The other highlights of this bank account are –
- Unlike traditional banks who charge up to 3% when using your card for other currencies, Bunq charges no fee.
- You enjoy the advantage of free ATM withdrawals globally and global coverage with Maestro and Mastercard.
- Enjoy cross-border banking when you travel the world with Bunq.
- Send money with TransferWise and always enjoy the real exchange rate.
Access Bunq through Ocyan means having several advnatages. Ocyan is the only financial markeplace for expats that helps you build a clear financial credibility for future lending.
Advantages Of Opening An Online Bank Account Before You Settle Abroad
Here are some of the top benefits of opening a bank account for expats-
- Convenience and greater flexibility
International bank accounts are generally available in multiple currencies. This gives you the convenience and flexibility of making or receiving payments in different currencies – one of the main benefits for expats working globally.
- Tax efficiency
Taxation can be another tricky area to navigate as an expat. Depending on your country of residence, you can avail major tax advantages to opening and saving in an offshore bank account.
- Free withdrawals across the globe
Expat bank accounts are specially designed for people living away from their home country. They give them the advantage of free ATM withdrawals across the globe and global coverage with a comprehensive Maestro and Mastercard.
As an expat, it’s very important to find ways to simplify your banking and protect your assets both in your new location and native territory.
Partnering with Ocyan to open an offshore savings account gives you the advantage of protecting your money and gain interest, without much hassle.
The best part about Ocyan is that it enables clients to bring their financial history along with them. This enhances your financial credibility and trust with the bank.
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Are you ready to move? Contact the experts at ocyan.com to address all your banking, insurance, credit, and rental support!