Banking Category Banking: the easy, simple banking guide

How to set up a bank account for euros

Europe consists of 50 countries. The European Union has 27 members, of which 16 have adopted the euro as their currency (as of 2010).

Setting up a bank account for euros means that credit and debit cards can be used in any of the member countries without incurring currency exchange conversion charges.

Many of the countries that have not adopted the euro accept payment in euros.

There are no regulations restricting U.S. citizens from opening a bank account for euros.

The Internal Revenue Service does require assets exceeding £6,500, held in overseas accounts, to be declared on the annual income tax return. Interest and dividends should also be declared.

Choose a European country using the euro to set up a bank account for euros. If you regularly travel to a European country, choose it. Banking regulations vary between countries. Check the banking regulators website for details. Check the banks that are registered and select one. Several banks have branches in the U.S., making it easier to manage your account. Write down the bank's contact information. Check the bank's website for types of bank accounts, fees that are charged and facilities available.

Apply in person to set up a bank account for euros. This is the best way if you are travelling in the country where you want to open an account. Go directly to your chosen bank. No need to make an appointment in advance. Be sure you have your passport and original proof of address. Details of your financial means, such as evidence of employment, or a recent bank statement are also required. You will need to make an initial deposit. Complete the application form. The bank will copy your documentation. The account will be open in a few days.

Apply via mail to set up a bank account for euros. Call the bank in your chosen country or, if the bank has a branch office in the U.S., call it there. Ask the bank to mail you an application pack. Check the requirements and complete the application form. Enclose required documentation, application and deposit in an envelope. Use secure mail as your documents will need to be originals. You will receive the account details, receipt for your deposit and your documentation in two to three weeks, depending on the efficiency of the local mail service.

Apply online to start the application process. You will not be able to open the account online as original documentation has to be seen by the bank. Complete the online application form. Choose your method of making a deposit. You can pay online with a debit or credit card or you can send a check with your documents. Make a note of your application reference number. Mail your documents with a covering letter. Make sure your reference number is clearly marked. The bank will e-mail you when it receives and verifies the documents. Your documents will be returned together with your account details in about two weeks.


Click the link in the Resources section for details of banking regulators. Copy and paste the details of the regulator for your chosen country in your browser to search for its website. Click on the website and select “English Version.”

Things Needed

  • Proof of address
  • Passport
  • Evidence of income