Opening an International Banking Account in Macedonia10 min read

Opening an International Banking Account in Macedonia10 min read

International banking services will make your finances a lot easier whether you’re an expat in Macedonia or running a foreign business. 

You can open an international bank account in Macedonia and easily transfer funds from and to abroad, pay bills abroad, and enjoy other cross-border banking benefits.

Although local banks in Macedonia can easily accommodate for simple banking transactions, an international online bank in Macedonia such as The Kingdom Bank has been fashioned specifically to address the banking needs of citizens worldwide. 

Let’s find out why you should bank abroad in Macedonia and how to open an account.

Best International Banking Services Available in Macedonia

A licensed offshore bank regulated by the Financial Services Unit of the Commonwealth of Dominica, The Kingdom Bank offers excellent international banking from its digital arm. 

Some top features include:

• Multi-currency accounts: Create USD, EUR, and other major accounts for easy global money management. No currency conversion fees apply.
• Payday transfers: You can easily make and receive foreign payday transfers on the online banking site. Good exchange rates assure best value.
• Debit cards: Acquire debit cards and virtual/actual debit cards linked to your accounts that can be used to purchase and cash out across the globe from ATMs.
• Bank online and on mobile: Keep track of your accounts online from any device that is connected to the internet using The Kingdom Bank website or mobile app.
• Customer service in more than 180 countries: Get support 24 / 7 by phone, email and live chat from a team who know the different banking and regulatory landscapes across the globe.

With these cutting edge cross-border banking features, The Kingdom Bank lets users experience their funds as a true borderless world. 

No need to create separate local accounts as your money, payment channels and data are all always at your fingertips wherever you go.

Why Choose Macedonia for Your International Banking Needs?

Other offshore finance hubs can be equally viable options but Macedonia has some special advantages for cross-border banking:

• Placement: At the junction of Europe and Asia, Macedonia makes it a strategic route to the major markets of both continents.
• Political stability: Macedonia is a democratic republic with a representative parliament.
• High quality infrastructure: Macedonia has modern telecommunications and transportation infrastructure with highways, rail and air services, in-country and overseas.
• Attractive regulations: The country follows global banking regulations that support a good privacy, security and asset protection for the client.
• Low cost: Operating costs such as taxes and fees are usually lower in Macedonia compared to other offshore banking regions.
• UE integration: Macedonia is a recognised candidate to join the European Union since 2005, striving to gradually align laws and institutions with the EU.

To individuals and corporations transacting across borders, this combination of location, stability and well-developed but reasonably priced financial hub has made Macedonia an all-round attractive destination for foreign banking.

Required Documents for Opening an International Banking Account in Macedonia

Account opening is an easy online procedure with The Kingdom Bank, but you will have to submit some documents depending on your client type:

Individual clients typically need:

• Passport or national ID
• Address proof (electricity bill, etc.)
• Income source documents

Corporate clients usually require:

• Company formation/registration docs
• Shareholder/director info
• Proof of company address
• Source of funds explanation

After all your documentation has been reviewed and cleared you can immediately use your new international banking account in Macedonia through online or mobile banking. 

The funds can then be wired or deposited with other methods quickly and instantly.

Can You Use Your International Banking Account in Macedonia for Cross-Border Transactions?

Easily making cross-border payments is one of the primary benefits of an account with The Kingdom Bank. 

You may need to pay employees abroad, buy from an overseas retailer, earn money from overseas customers, or simply send money to relatives in a foreign land — all this is possible through your Macedonian international bank account.

Here are a few instances of the global use of the account:

• Wire funds internationally at favorable exchange rates.
• Receiving payments of bills and invoices from foreign firms.
• Receiving international deposits and revenue
• Online shopping and payment through the global e-commerce website.
• Taking cash from ATMs on a journey outside of Macedonia.

Accounts in multiple currencies, debit cards and state-of-the-art online/mobile banking platforms make transnational financial transactions a snap. You don’t have to create local accounts for every country where you do business.

Who Can Benefit from International Banking Accounts in Macedonia?

While the expat Macedonians who want easy global banking certainly benefit, the robust cross-border features will be of particular appeal to other user categories, including:

• International traders and import/export businesses.
• Freelancers & consultants working for clients around the world.
• Real estate investors with foreign property investments.
• Online sellers and e-commerce entrepreneurs.
• Wealth managers and family offices.
• Startups with a global customer base.
• NGOs and charities with programmes abroad.
• Two citizens routinely moving money from one country to another.

Basically, if you need your money to move from country to country on a regular basis either for work, investment or personal reasons, then having a well-organized international bank account in Macedonia can make money management a breeze. International people of every stripe can take advantage of the high-end services provided.

When individuals and organizations sign up with a premier digital bank such as The Kingdom Bank, they obtain a financial tool for navigating the new globalized world.

With easily available online banking in Macedonia, you can stay with your important initiatives instead of losing precious time navigating the logistics of banking between the different nations.

No matter if you are looking for private banking, corporate banking or something else — The Kingdom Bank’s global banking experience and digital platform take the obstacles out of handling money overseas. 

So if foreign wire transfer is one of your everyday activities, learn how an account can make your life easier by visiting The Kingdom Bank today. You can easily open an account and start enjoying all of the services that global banking in Macedonia provides.