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A Successful Interview for Opening an Account Abroad

Most people are afraid of interviews. However, all you need to do is prepare for the event in the best way you can, and this post will help you with that. A foreign bank account implies a lot of benefits for its owner, so there is no point in refusing to have one just because you are not sure you can successfully pass the interview. Set up a bank account abroad to diversify your risks and assets, have wider settlement opportunities, access a lot of profitable investment projects around the world, and much more. If you need more information, please visit the International Wealth portal where you will find a lot of information on foreign bank accounts.

Why Open a Bank Account Abroad?

A foreign bank account is a versatile financial instrument that will be useful for individuals and legal entities. Here are the main advantages of setting up a personal bank account outside your homeland:

● You can streamline the management of your personal finances

● You will be able to engage in a considerable number of investment opportunities, including

purchasing securities and real estate

● Transactions and withdrawals in foreign currencies will be considerably simplified

● You will successfully protect and grow your funds

If you need to receive money transfers from abroad, you will be able to do so without extra charges or restrictions. If you decide to set up a bank account abroad for your company, it will help you to efficiently conduct your business activities with partners from across the globe and:

● Attract international investors

● Process transactions smoothly

● Leverage the available tax incentives

● Allocate assets efficiently to mitigate potential financial risks

Opening an Account Remotely

As new technologies appear and online banking becomes a more efficient tool, there are more and more international banks that give their potential customers the possibility to open an account online.

There are a lot of services and platforms that make it possible for banks and potential clients to easily interact with each other and complete all the required formalities. A video interview is an important part of the account opening procedure.

Here are the categories of banks that are ready to set up accounts for their customers online:

● Neobanks. These institutions offer banking services internationally, and yet they are not

traditional banks. They provide digital financial solutions, such as prepaid cards, e-wallets, and global money transfers for individuals and legal entities.

● Offshore banks registered in Singapore, Hong Kong, Seychelles, Bermuda, or the Cayman Islands.

If you want to open an account online with a financial institution from this category, you will need to complete a process of stringent verification. The latter is aimed at mitigating the risk of fraud (keep in mind that any fraudulent operation will result in service denial). A video interview is an important part of this verification. The process of opening an account will be questionable if you fail to provide identity verification documents or take part in the interview.

Why Do Banks Hold Video Interviews?

Video identification is the procedure of the bank manager's introduction to the potential customer. Here are the duties performed by the manager in the course of the meeting:

● Confirms that the data and the documents provided by the customer are authentic and verifies their identity.

● Records the customer’s requests taking into account the current situation.

● Collects more details. The manager asks questions about the customer’s financial well-being, reasons for setting up an account, as well as other related aspects.

● Establishes relations as the video interview builds trust and improves the interaction.

How to Make a Video Interview Successful

As each bank has different policies and technical rules, the approaches to interviews vary greatly. The instruments used for communication are typically the following ones:

● Dedicated platforms that banks use for interviews. These can be accessed through the payment system, mobile app, or the bank’s website.

● Microsoft Teams, Zoom, Skype, Google Meet, and other online video communication tools that you will access using a unique link provided to you. Some banks conduct hybrid interviews, which means that they start online and then request a personal meeting. If this is the case, potential customers first undergo verification remotely and then are invited to the bank to talk to the manager.

Getting Ready for the Video Interview

If you want to successfully pass a video interview with a bank employee, please pay attention to each detail. Here are the elements of detailed preparation:

● Taking a close look at the bank’s criteria for the video interview, including expected standards

and procedural rules.

● Collecting the required package of documents that confirm your income, address, and identity.

However, you should be ready that additional documents will be requested, like your partners’

contact details, business plans, or resumes.

● Testing all the devices you will need for the interview, such as a microphone, webcam, or


Main Recommendations for Success During the Interview

A video interview is no less important than a face-to-face meeting, so you’d better take into account the following important considerations:

● Any language barriers should be eliminated. That is, if you are not good enough at English, bring an interpreter with you.

● Confidence is your best friend when you need to answer questions. Try to avoid hesitation and remain calm even if the question is uncomfortable.

● Your answers should not differ from the information you provided in bank forms.

● Prepare a clear explanation of why you want to open an account in this bank.

The manager may ask different questions depending on the client’s needs. If this is a personal account, be ready to specify the intended use of the account and the sources of your income. If this is a business account, you will discuss the company’s customer base, business operations, marketing approaches, expected income, and financial goals.

Want to open an account abroad? Follow the above link to have a seamless experience, get

professional advice, or obtain recommendations as to the best jurisdiction and bank to open your

account. We wish you a successful interview and convenient banking!

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