Celebrate the Olympics: Be the first to win with 10% off company registration.Start now!

Top 5 International Banks for Worldwide Banking in 2024

content image

In today's interconnected world, the need for effective international banking solutions has never been greater. Whether you're a frequent traveler, a digital nomad, an expatriate, or an international business owner, the right bank can significantly enhance your financial management across borders.

In this article, we will discuss the factors you should consider when choosing a bank for your international banking needs. We will also provide an overview of the top 5 international banks in 2023, highlighting their benefits and drawbacks to help you make an informed decision.

Without further ado, let's dive in.

6 Key Factors to Consider When Choosing Your International Bank

While the ideal bank for you will depend on your specific banking needs, here are the 6 critical factors to consider when choosing an international bank to ensure you get all the banking services essential to your operation. 

Low Fees

Comparing the pricing structures of each bank is essential for finding the most cost-effective bank for your international transactions. 

It is important to find a bank that offers a competitively low fee structure, especially for monthly maintenance fees, currency conversion, international wire transfers, and ATM cash withdrawals, as these costs can significantly impact your cash flow and overall financial efficiency. 

International Acceptance

It’s important to ensure that the bank account is widely accepted internationally and supports the currency of the country you are visiting or doing business in. Some banks may have partnerships with foreign institutions that simplify accessing funds and may help avoid extra charges, making your financial dealings smoother and more convenient.

 Multi-Currency Options

A multi-currency account that allows you to hold and manage multiple currencies in one account is invaluable for those who travel frequently or engage in international business. This feature simplifies financial management across different currencies and can help you save more on transaction and conversion fees

Online and Mobile Banking Services

In today's digital era, it is essential to have a bank that offers comprehensive online banking services. These features enable you to oversee transactions and manage your finances on the go, ensuring constant access to your finances.


International banking involves cross-border transactions, which can increase cybersecurity risks, such as credit card fraud and data breaches. While all banks follow strict regulations, choose a bank with advanced security measures like two-factor authentication and constant fraud monitoring. These features offer an extra layer of protection and security, safeguarding your sensitive information and financial assets. 

Customer Support

Responsive customer support is crucial, particularly for individuals and businesses banking internationally. Choose a bank that offers robust customer support through multiple channels (like phone, email, live chat), preferably with multilingual assistance, to communicate your needs effectively and ensure you can get assistance when needed. A bank with a dedicated and responsive customer service team ensures that any queries or concerns you have are addressed promptly and efficiently, enhancing your banking experience worldwide.


When it comes to choosing international banks, a critical factor for me has always been the bank's global network and reach. The broader the reach, the smoother the transactions and the better the support in various jurisdictions.

I've also prioritized banks that offer competitive exchange rates and low transaction fees, ensuring cost-effectiveness in international dealings.

Samantha Odo, CFO of Precondo
Samantha Odo
CFO, Precondo
Statrys mobile application dashboard showing a total balance in a business account.


J.P. Morgan Chase & Co.

A screenshot of JP Morgan's website

J.P. Morgan Chase is a multinational investment bank and financial services holding company. The bank was founded in 1799 in the United States and has its headquarters located in New York City.

J.P. Morgan Chase operates in over 100 countries around the world, providing an extensive global reach. It also offers a wide variety of financial services, which include investment banking, commercial banking, asset management, and more.
According to The Annual Report 2023, the bank has approximately USD 3.74 trillion in assets and over 271,000 employees serving its customers worldwide.

Pros and Cons of J.P. Morgan Chase & Co.

Pros of JP Morgan

  • Foreign Exchange Solutions: The bank offers a suite of forex solutions that help businesses navigate the complex nature of foreign exchanges.
  • Global Trade Solutions: This gives you access to global finance solutions that facilitate working capital and reduce risk.
  • Expertise in Business Services: The bank provides expertise and solutions to help businesses navigate international expansion, including compliance with employment laws and local legal requirements.

Cons of JP Morgan

  • Business-Centric Services: Its international banking services are more suited for businesses than individuals.
  • High Account Minimums: To avoid fees, you must maintain a relatively high minimum account balance depending on the type of account you open with the bank.


Bank of America

A screenshot of Bank of America's website

The Bank of America is an American multinational investment bank and financial services holding company. Founded in 1904, its headquarters is situated in Charlotte, North Carolina.

What started as one of the biggest banks in America has expanded internationally and now has a global reach. With operations in multiple countries around the world, including Spain, Germany, and Japan, they are able to provide services to a worldwide customer base.

The bank offers a suite of financial products, including, but not limited to, commercial banking, investment banking, and consumer banking.

Bank of America has approximately USD 3.17 trillion in assets and about 213,000 employees, as stated in their 2023 Annual Report

Pros and Cons of Bank of America

Pros of Bank of America

  • Ease of Access: With locations throughout Asia, Europe, Africa, and The Middle East, you’ll always have a branch of your bank within reach.
  • Easy to Use: An intuitive app, free online banking, and reliable branch banking make it easy to carry out your financial transactions.
  • Variety of Accounts: Bank of America offers a variety of checking and savings accounts to suit different needs.

Cons of Bank of America

  • Below Average Interest Rates: As larger banks tend, Bank of America has a lower APY than many other banks.
  • Poor Response Times: Many Bank of America customers have complained about how difficult it is to reach a representative on the phone when they have a problem with their banking service.



A screenshot of Citigroup's website

Citigroup is a global investment bank and financial services corporation formed through the merger of Citicorp and Travelers Group in 1998.

It is one of the largest and most known banks in the world, being present in over 160 countries.

As the others mentioned, the bank offers an array of financial services such as commercial banking, credit card services, and investment banking. Although Citigroup offers multi-currency accounts that enable clients to access 16 major currencies, these accounts are part of their wealth management solutions and require a minimum balance of USD 200,000.

CitiGroup's total assets reached approximately USD2.4 trillion, according to Citi’s 2022 annual report. Additionally, CitiGroup has over 210,000 employees at the end of 2022 and serves over 200 million customers globally.

Pros and Cons of CitiGroup

Pros of CitiGroup

  • High-Yield Savings Accounts: Citigroup offers a competitive high-yield savings account (Citi Accelerate Savings Account).
  • Rewards: Many Citi accounts offer a wide range of rewards for their customers, such as airline miles.
  • Variety of Options: Customer has many account options to choose from, each with its own perks and benefits.

Cons of CitiGroup

  • Many Fees: CitiGroup accounts are associated with many fees, including monthly fees, transaction fees, and handling fees.
  • Complexity: Account opening may be more complex due to the great number of account options.



A screenshot of HSBC international website

HSBC (Holdings PLC) is a British multinational investment bank and financial services holding company founded in 1865. Today, HSBC has grown to become one of the biggest banks in the world, operating in over 60 countries and having approximately 39 million customers worldwide. It is also one of the largest businesses in Europe by employees, with over 219,000 staff in 2023.

The bank offers extensive banking products to individuals and businesses, including retail banking, commercial banking, and investment banking.

According to its 2023 Annual Report, the bank has now reached approximately USD 3.0 trillion in total assets, making it one of the world's largest financial services organizations.

Pros and Cons of HSBC

Pros of HSBC International

  • Multi-currency Accounts: HSBC offers multi-currency accounts in selected regions, allowing individuals and businesses to hold and manage multiple currencies in one account.
  • Opening an account remotely: You can open a bank account from anywhere in the world through video conferencing.
  • Accounts are linked: Your HSBC accounts are linked in all countries and currencies, making it easier to use no matter where you are.
  • Quick transfers: Transfers are quick and easy between countries and currencies.

Cos of HSBC International

  • Fees: Banking with HSBC will incur some relatively steep fees, as they often have handling fees added up.
  • Lower Interest Rates: Its interest rates are not very competitive.


Standard Chartered

A screenshot of Standard Chartered's website

Standard Chartered is a multinational bank and financial services company based in London, UK. It was founded in 1969 through the merger of The Standard Bank of British South Africa and the Chartered Bank of India, Australia, and China.

The bank has a strong focus on developing markets and is popular for its expertise in this field. Standard Chartered offers a range of banking financial products that cater to the needs of individuals, companies, and corporations.

In 2023, Standard Chartered had total assets of around USD 822 billion, according to the Annual Report. Currently, Standard Chartered has approximately 83,000 employees in 150 markets worldwide.

Pros and Cons of Standard Chartered

Pros of Standard Chartered

  • Ease of Access: Standard Chartered has operations in more than 60 countries, making it an accessible option.
  • Multi-currency Accounts: The bank offers a range of foreign currency accounts, making it an ideal choice for international business.
  • Expertise in Emerging Markets: It is well known for its expertise in doing business in emerging markets, particularly in Asia, Africa, and the Middle East.

Standard Chartered

  • Higher Fees: Fees charged by Standard Chartered can be comparatively higher, especially for international transfers.
  • Service Quality: Customers have shared issues with the bank's customer service, which might be essential for some.

Alternative Banking Solution: Statrys

While the top banks listed above provide effective solutions for worldwide banking, each has its own advantages and limitations. For a more comprehensive understanding, we recommend exploring their websites for detailed information about their accounts, services, and fees.

Alternatively, fintechs have been emerging as a practical banking solution for many individuals and businesses, offering digital convenience and affordable account plans. If you own a business in Asia or are considering entering the Asian market, then we recommend you consider Statrys.

As a licensed Money Service Operator in Hong Kong, Statrys provides financial services and solutions to businesses incorporated in Hong Kong, Singapore, and the BVI. These services include:

  • Multi-currency business accounts that can hold 11 major currencies under a single account number. 
  • Make and receive international wire transfers with real-time tracking via SWIFT gpi.
  • Virtual and physical business cards with a card management tool to manage debit card transactions in the palm of your hand. 
  • FX services with competitive exchange rates (spot and forward contracts).
  • Xero integration to save time and resources through automated accounting.
  • A dedicated account manager for every client.
  • Company registration services in Hong Kong and Singapore

Moreover, 96% of Statrys’s clients get their account within less than 3 business days. With its simple account opening process and responsive human customer service, Statrys has received a score of 4.7/5 based on over 280 reviews on Trustpilot. 

If you own a growing business and have clients and partners in Asia, be sure to check out Statrys' business account to see how Statrys can support your business’s international payment. 

Statrys mobile application dashboard showing a total balance in a business account.


Which is the best bank for international banking?

The best bank for international banking depends on your financial needs. Our top picks are J.P. Morgan, Bank of America, Citibank, HSBC, and Standard Chartered.

Which bank has branches worldwide?


What banks offer multi-currency accounts?


How do I choose an international bank?

Reviewed by
Djon Ly

Looking for a business account?