15 Financial Tips before Becoming an Expat
3. Investigate the Local Banking Options
A big tip before moving overseas is to do some investigative work into what local banking options are going to be available in the country one plans to move. If planning to become an expat in a less-developed country, taking some time to look hard at how the banks that are available work in the international clearing networks will help one avoid big stresses in the future. Similarly, finding out if the local bank will provide a debit card with the Visa or MasterCard brands (or a local ATM network like Cirrus) will also help manage expectations once living and working abroad. Finally, not every bank overseas is insured similar to those in the United States. Understanding if deposits are guaranteed and by whom will help the new expat make big decisions in the event a crisis arises.
