Slovenia is a highly appealing destination for expatriates due to its flourishing economy, stunning landscapes, and temperate climate. Slovenia also succeeds in alluring foreigners to its shores by providing a banking system that is highly advantageous for non-residents. Numerous Slovenian banks facilitate the financial transactions of non-residents by providing bank accounts that are tailored to their needs. These accounts are designed with a straightforward, efficient process that is straightforward to traverse.
Can I open a bank account as a non-resident of Slovenia?
Yes. Non-residents and vacationers are permitted to establish accounts in Slovenia; however, the documentation required for this purpose may differ among banks. A Slovenian Tax Number and a legitimate passport are required.¹ It is important to discuss all limitations with your financier, as certain banks have deposit and withdrawal limits for non-resident accounts.
What’s the process? How long does it usually take?
You have the option of scheduling an appointment or visiting the bank in person to establish your account. Ensure that you have all necessary documentation with you when you visit the branch to establish your account. Additionally, verify whether the branch has a translator available in the event that you are not fluent in Slovenian. You may require the assistance of a local translator, as the majority of Slovenian banking websites are not available in English or other languages. Nevertheless, a significant number of Slovenia’s larger institutions employ personnel who are proficient in English.
Upon your arrival at your appointment, you will be required to submit an application and have your documents verified. A debit card will be delivered to your local address by numerous banks in Slovenia within a few weeks, although some are more expeditious and dispatch them within a week.
What documents are necessary for a foreigner to open a bank account?
It is advisable to contact the bank in advance, as the documentation necessary for a non-resident account may vary. This is to ensure that you have all the necessary documentation for your appointment. The documents that institutions will request the most frequently are:
- Passport
- Confirmation of Slovenian Tax Number²
- Foreign tax number
In order to obtain a Slovenian tax number, you must submit a DR-02 form that includes the tax number of your native country. Additionally, a duplicate of your identification document is required. The tax number may be obtained promptly by visiting a tax administration office.² Please ensure that you have your passport with you when you arrive at the office.
Can I open a bank account abroad? What about at least online?
The majority of banks do not have an English website, so it is probable that you will need to rely on the translator option on your computer or visit the branch to open an account. However, there are a few banks that accommodate online account openings.
What banking fees are involved?
Many institutions in Slovenia provide no-fee account opening, which is a fortunate development. Some organizations implement periodic maintenance fees. In addition to traditional banking services, the majority of banks impose supplementary fees. Before opening an account, consult with your banker regarding these fees.
Regular fees include:
ATM fees
The majority of Slovenian ATMs do not impose fees for withdrawals from your Slovenian bank or partner ATM. However, there may be flat withdrawal fees associated with withdrawing cash from an ATM at a distinct financial institution.
It is highly probable that you will be charged a foreign ATM fee and a percentage of the amount withdrawn when you use a debit card from a non-Slovenian bank at a Slovenian ATM. This is a flat charge, in addition to a percentage of the transaction, that is sent from your home bank, similar to certain ATM fees. In comparison to a local bank, exchange rates at ATMs can also be quite excessive.
Standard bank fees
However, the majority of banks continue to impose fees for specialty services or if you exceed your monthly ATM withdrawal limit. Some of these maintenance and convenience charges include:
- Cash transactions at a branch
- Exceeded ATM withdrawal and deposits
- Monthly account maintenance fee
- Card changes
- Bank transfer and deposit fees
Fees for international transfers
Banks frequently impose additional fees for international transfers, including a fixed fee that can occasionally exceed 50 EUR and a percentage of the total transfer amount. Keep a watch on the mid-market rate to prevent paying a higher exchange rate than necessary.
Which bank should I choose?
Slovenia is home to numerous national and international institutions that provide a wide variety of services. These are a few potential alternatives:
- Nova Ljubljanska Banka
- Abanka
- Nova KBM
- SKB Banka
Nova Ljubljanska Banka
Nova Ljubljanska Banka is the largest bank in the nation. It is an advantageous option for expatriates, as it is feasible to establish an account online. Debit cards, SMS messaging, and high daily withdrawal limits are among the advantages of their accounts. Nevertheless, this information is not in English. They provide the following services; however, you wish to verify which ones are accessible to you:
- Non-resident bank accounts
- Business accounts
- Different types of cards
Abanka
Slovenia’s third-largest bank is Abanka. They possess an extensive ATM network and a fee structure that is competitive. However, they also lack an English-language website. Abanka provides the following comprehensive financial services:
- Personal bank and savings accounts
- Investment services
- Insurance
- Loans
- Business accounts
Nova KBM
NOVA KBM is a traditional banking institution in Slovenia that provides traditional services with contemporary amenities. Debit cards, online banking, and an extensive network of partner ATMs are highly convenient for non-residents. The following are a few of the services they offer:
- Current and savings accounts
- Reward program
- Loans
- Different cards
- Investments and insurance
- Business accounts
SKB Banka
SKB Banka has been recognized as the Bank of the Year in Slovenia for the past six years, which has rendered it an appealing institution. They possess an extensive ATM and branch network, similar to other financial institutions. Additionally, their client-facing information is not available in English. However, they provide a diverse selection of services, including a special account for non-residents and:
- Personal and Savings accounts
- Different cards
- Online and mobile banking
- Loans
- Investments and insurance
- Business accounts