7 Banking Tips for Digital Nomads.

Modern banking is almost as responsible for the rise of digital nomads as is the ability to make money via the Internet.

If you’re considering a nomadic lifestyle, you must first set up your banking properly to avoid any problems accessing your money while on the road.

Since digital nomads rarely remain in the same location for very long it’s vital that they have a trusted way to electronically receive funds and pay bills. In the age of electronic, financial, and identity fraud, banks are increasingly demanding more verifiable information from account holders, not least being a home address.

One of the common ways that banks attempt to prevent fraud is to halt transactions that occur in an unauthorized foreign country. New nomads will discover this quickly when they border hop to a new country and try to buy something with their bank card.

Additionally, most digital nomads run their own online business and very few nomadic entrepreneurs operate them within their home country. Because they and their business are location independent they’ll typically find the most advantageous places to register their company, which presents other banking challenges.

Being a voluntary homeless nomad presents countless obstacles for banking and it’s not very fun to be stuck in a foreign country with no access to your money. Therefore, it’s essential to have your affairs in order.

Here are 7 banking tips for digital nomads:
– Employ a Trusted Friend
– Multiple Bank Accounts
– Notify Your Bank of Your Travel Plans
– PayPal
– Maintain a Mailing Address
– Scan Important Documents
– Get a Stable Phone Number

If you take these tips you’ll be able to enjoy your travels without worrying that you’ll be locked out of access to your funds.

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