Why is Zenus Bank the ideal expat bank?
In recent news, Barclays, one of the largest banks in the UK and the world, sent shockwaves through the expat community by announcing the closure of thousands of expats’ bank accounts. The decision understandably caused frustration and concern among affected individuals who were given six months to find an alternative banking solution.
It’s not often that a bank – or any organization, for that matter – willingly parts ways with customers. So, what caused this? As we examine the situation, we’ll also shed light on why Zenus is an ideal bank for expats, committed to providing hassle-free banking services to expatriates worldwide.
Why is Barclays closing expats’ accounts?
Barclays’ surprise decision to close expat accounts, specifically those with balances under £100,000, reflects a shift away from serving this demographic. Rising compliance costs in recent years have affected expats globally, causing frustration and outrage. It’s an unfortunate reality that is affecting customers of other banks as well.
Zenus is ideal for expats
In contrast to Barclays’ decision to close expats’ accounts, Zenus Bank is committed to serving expatriates by providing a range of services tailored to their needs. We believe that everyone should have access to banking solutions that make their lives easier, especially when living abroad.
After all, mobility is a defining feature of modern society. Therefore, expats deserve a bank that understands their circumstances and provides them with a seamless banking experience. Zenus is proud to be that bank, offering expats a safe and secure place to manage their finances, regardless of where in the world they may be. We have purposefully built ourselves as a global institution, with the technology and compliance processes in place to support the demands of international banking operations. This allows us to offer swift, secure, and reliable banking – now and always.
The Zenus Bank advantage
That isn’t simply talk, we mean it. That’s why since our inception our mission has been to take banking beyond borders. We know a thing or two about cross-border banking. Here is why Zenus is built from the ground up to be a global institution:
- Worldwide banking license
Zenus Bank holds a worldwide banking license that enables us to offer accounts to clients in 180+ countries and territories. Chances are, if you’re reading this – you can probably bank with us. Why not try and see if you can open your own US bank account in as little as 10 minutes? People from more than 100 countries have already done it.
- Full US account
Zenus provides a full-fledged US bank account, not an e-wallet or a virtual account. We grant expats, students abroad, and international professionals access to all the banking services they need. Our USD-denominated account facilitates managing finances without worrying about fees or foreign exchange (FX) rates. Zenus Bank is a very convenient gateway to the world’s banking system whether you want to shop, save, or invest in global markets.
- Effortless application
Applying for an account with us is simple. With just a smartphone and ten minutes or so of your time, you can complete the application process without any hassle.
- Free Visa Infinite card
Zenus Bank offers all eligible clients a free Visa Infinite debit card that is designed to meet the unique needs of people whose lifestyles feature a lot of international travel. Our card allows you to make payments seamlessly at millions of Visa locations worldwide, as well as withdraw cash in the local currency using ATMs in 200+ countries.
- Affordable transfers & FX
We understand that international transfers and foreign exchange can be costly with traditional banks. That’s why we offer fixed-fee transfers and competitive institutional rates, ensuring that you get the best value for your money. Additionally, we set no limit to the volume or value of payments received or sent from your account.
In conclusion, the recent news of major banks closing expats’ accounts highlights the importance of choosing a bank that actually caters to the needs of expatriates and international professionals. With its USD-denominated account, international debit card, and inexpensive services, Zenus Bank stands as the ideal choice for expats. Are you an expat looking for a convenient bank account that you can always rely on? We are here to make your financial journey as an expat smooth and stress-free, so why not apply for an account with Zenus Bank today?