How a non-resident can open a EU account

In what country do you reside? If the US there are numerous cards - and bank accounts - that charge no monthly or annual fees or foreign exchange fees for foreign transactions.

Try some options of US-based banks.

Due to especially and cumbersome US Treasury regulations on foreign banks, most fintechs and online-only banks will not open accounts for US-persons (US citizens, greencard holders living in the US etc.) unless they are long-term residents in Europe (and even so, most still won't do it).

If you’re from the U.S., Capital One and Citi, in addition to others, offer cards with no annual or foreign transactions fees.

Not sure of your question. Do you want an European based credit card or a European bank account or both? What fees are you trying to save? Having an European credit card will not save fees if you pay the credit card with US dollars. Any time you have an exchange rate involved, there will almost always involve fees. I am sure there is an exception somewhere. So the better objective is to keep the fees as close to zero as you can.

Yeah, I guess first, what problem are you trying to solve? I have a US based debit card (two actually) that charge me no fees for use in Europe, and a US based Credit card that is Chip and Pin, Pin Priority, with no fees that has worked everywhere I have been, including unmanned kiosks and gas pumps. Both do the currency exchange at essentially Interbank rate...so I am not sure what an account in Europe would benefit, unless I required some type of bank to bank transaction in euros (paying bills, rent, etc.) but that would only be if I were a resident.

I believe without being a resident, your chances are slim.

First, most European banks charge yearly fees for their cards.

Second, you’d need to open a bank account. You need an European address to open an account. Most European banks avoid opening accounts for Americans, even those who live in Europe, due to our FATCA requirements.

Finally, American cards exist that don’t charge exchange fees on purchases and have ATM cards that don’t charge for overseas withdrawals. See the suggestions above.

Edit: our French bank charges 48€ a year for a card last time we checked. Non merci.

Our OP said he/she isn't a EU resident but nowhere said she/he is US.

I'm guessing Icelandic or Norwegian from the name.

On the off chance that the OP is a US resident they should remember that all non-US bank accounts with or without credit/debit cards have to be reported to the IRS at tax time, with peak balances, etc. Have fun.

We have a Barclays Bank card through Lufthansa Miles and More program -- issued and billed in the U.S., no foreign transaction fees, works as a true chip-and-pin at tollbooths and other unattended locations. But other cards work just as well at restaurants, hotels and stores where there is a person to take the card and get a signature.

We sometimes forget those of us in the US have some banking benefits that are unheard of outside our country. A wide selection of no fee credit/debit cards is one of them.

I worked quite often in both the UK and Germany over the past 5 years (yes, I had the necessary long term stay and work permit visas for both countries obtained for me by my employer when required). I even was able to rent an apartment near Frankfurt for one of my longer extended stays. Even with that, no bank would allow me to have an account there being a US citizen. I tried because it would have been easier paying rent. I managed using cash and my Capital One no fee cards.

15 years ago was long before FATCA and FBAR.

The point of mentioning that you opened your European account long before FATCA is only to point out that since the U.S. passed FATCA, European banks are much more wary of opening accounts for Americans, because it is way more of a pain for them reporting wise.

All the U.S. regulations that the European banks have to follow to stay on the right side of FATCA has really disincentivized allowing Americans to open accounts with them. It’s just not worth their trouble. Compliance costs have got to be very high, I would imagine.

I too have an account I opened before FATCA, and I am damn lucky I did it then. I understand the aims of FATCA in trying to avoid giving dirty/terrorist money a place to hide, but it has undoubtedly had some perverse effects for “regular” Americans overseas.

The OP is about how to open an account in the EU.

Is Ukraine in the EU?