The basics: international bank accounts
Before you open an account outside your home system, you should know the most important legal and regulatory ground rules. These articles explain the basics: clearly, without legalese.
Why you should know this
An account outside your home system is entirely legal, but it is no lawless space. The CRS, the bank account registers, the bail-in rules and the rules on freezing and seizing accounts are the four most important factors to understand before you act. Being informed means making better decisions and sleeping more soundly.
OECD Common Reporting Standard (CRS)
What is the automatic exchange of information?
The CRS is the most important instrument of international tax and financial transparency. More than 120 countries report account data automatically. We explain how it works, who is affected and which countries do not take part.
Bank account registers
What the authorities know about your accounts
Since 2020, EU member states have had to run central bank account registers, and the UK has its own routes to account data. We explain who has access, what is recorded and why accounts abroad sit outside the register.
Bail-in: what happens to deposits above the guarantee
BRRD, the Banking Act 2009 and what it means for your account
The EU's BRRD and the UK's Banking Act 2009 allow deposits above the guarantee to be used to rescue a bank. We explain what that means and in which jurisdictions this risk does not reach you.