When working remotely or as a digital nomad, receiving payments from clients worldwide usually involves opening a local bank account in each country you visit. These traditional banks often require local residency, proof of address, or long-term visas, which is impractical for people constantly on the move.
A practical solution is using multi-currency accounts from modern fintech platforms. These accounts allow you to receive payments in major currencies like USD, GBP, or EUR, just as if you had a local bank account abroad, while keeping all funds in one place. You can then convert and withdraw money at competitive exchange rates without managing multiple accounts. This article explores the best ways to get paid globally without opening multiple bank accounts abroad.
Read also: How to simplify money management when juggling multiple clients
Here are a few reasons why traditional banks make managing multiple international accounts difficult for remote workers and digital nomads.
Opening a bank account in another country usually means filling endless forms, showing proof of address, and waiting ages for approval. It’s time-consuming and honestly just tiring.
Traditional banks can make international payments surprisingly costly. Between transfer charges and conversion fees, you often lose a noticeable bit of your earnings before the money even arrives. When you’re working with clients abroad, those small deductions can quickly add up and eat into your income.
Even if the bank’s fees look reasonable, the exchange rate usually isn’t. You end up getting less value for your money every time it’s converted. It might not seem much at first, but over several payments, that difference can mean losing the equivalent of a full invoice.
Read also: The hidden time costs of managing multiple accounts abroad
Most traditional banks still expect you to do things their way. This includesfixed currencies, limited app access, and slow transfers. For people who work online or travel frequently, that setup just doesn’t work. You need something quick and adaptable, not a system that slows you down.
Digital platforms now let you hold and manage multiple currencies effortlessly. They simplify global payments, reduce fees, and let you operate like a local wherever you are.
Grey offers virtual multi-currency accounts that work like a free global bank in major currencies. With instant payments, low conversion fees, and an intuitive app, Grey makes it simple for remote workers to get paid, manage funds, and withdraw in local currency — all without juggling multiple accounts or dealing with complicated paperwork.
Wise lets you hold and convert money in dozens of currencies with real exchange rates. Payments arrive quickly, and the platform is transparent about fees, making it easy to manage international income without needing separate accounts in every country.
Revolut provides multi-currency accounts, debit cards, and fast international transfers. Its mobile-first design and spending insights are perfect for digital nomads who need to send, receive, and spend money abroad efficiently.
Payoneer enables freelancers and remote workers to receive global payments. Its multi-currency accounts, easy withdrawals, and wide network make handling international clients simple and cost-effective.
For nomads and remote workers, Grey offers a smarter way to manage multiple currencies, receive payments instantly, and keep finances organised on the go.
LDMAG1
For digital nomads, managing money across borders is part and parcel of everyday life. Since opening a bank account in every country you work from isn’t practical, having a multi-currency account is essential. It lets you receive, hold, and convert money effortlessly without the hassle of multiple accounts. Grey is designed for this, helping you get paid globally, exchange currencies at fair rates, and withdraw cash locally with ease. Sign up or download the Grey app today.
.svg)
Back to top
