Banking in Monaco
Best banks in Monaco for expats & digital nomads
Opening a bank account is one of the first things you do after moving to Monaco. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.
How to open a bank account in Monaco
Monaco's sector is dominated by private banking; opening a local account is tied to the residence-permit process and needs a passport/ID, carte de sejour (or proof it is in progress), proof of address, source-of-funds documentation and KYC, with due diligence that can take two to four weeks. Private banks often require large minimum deposits (frequently EUR 500,000+), so many mid-tier earners and digital nomads rely on neobanks or French banks just across the border.
Wise multi-currency account
Wise is the option we recommend for almost anyone moving to Monaco: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.
Open a free Wise account →Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.
Top banks in Monaco
CFM Indosuez
traditionalLeading bank in Monaco (Credit Agricole/Indosuez group) with five branches; serves private investors, businesses and professionals, not only ultra-wealthy clients.
Compagnie Monegasque de Banque (CMB)
traditionalMonegasque private bank focused on wealth management; typically high minimum deposits.
Barclays Private Bank (Monaco)
traditionalPrivate banking and wealth management for high-net-worth clients; strong English support.
Societe Generale Private Banking Monaco
traditionalPrivate-banking arm of the French group in Monaco; oriented to affluent clients with high minimums.
International accounts & neobanks
Used by expats in Monaco, but Monaco is not in the standard supported-country list; residents often open via a French/EEA address, so confirm eligibility.
Popular with expats but Monaco residency is not officially covered by N26; verify before relying on it.
Availability changes; confirm on each provider's site.
Next steps in Monaco
See the full Monaco tax, cost and visa profile, or compare Monaco with other destinations. Not sure where to go yet? Take the finder quiz.