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Benefits of Using Nomad Digital Bank for International Transactions

In today’s globalized world, international transactions have become a common occurrence. Whether you’re a business owner or an individual, there are times when you need to send or receive money from someone in another country. However, traditional banks have not always been the most convenient option for international transactions. That’s where digital banks like Nomad come in. In this blog, we’ll explore the benefits of using Nomad digital bank for international transactions.

Nomad Digital Bank – An Introduction

Nomad Digital Bank is a digital bank that offers a range of financial services, including multi-currency accounts, international money transfers, and mobile banking. Nomad is based in the United Kingdom and is regulated by the Financial Conduct Authority (FCA).

Nomad Digital Bank was founded in 2018 by Lamine Cheloufi, a serial entrepreneur who has been involved in several successful start-ups. The bank’s mission is to make banking more accessible and affordable for everyone, especially those who live or work abroad.

Nomad Digital Bank has gained popularity among expats, freelancers, and business owners who need to carry out international transactions regularly. In the next section, we’ll explore the benefits of using Nomad Digital Bank for international transactions.

1. Easy and Convenient

One of the most significant benefits of using Nomad digital bank for international transactions is the ease and convenience it offers. With traditional banks, international transactions can be time-consuming, involving a lot of paperwork and visits to the bank. In contrast, Nomad digital bank allows you to carry out international transactions from the comfort of your home or office. All you need is a smartphone or a computer with an internet connection, and you’re good to go.

Nomad’s website and mobile app are user-friendly and intuitive, making it easy for anyone to carry out international transactions. You can also track your transactions in real-time, which gives you more control over your finances.

2. Lower Fees

Traditional banks charge high fees for international transactions, which can eat into your profits or savings. However, Nomad digital bank offers lower fees for international transactions, making it a more cost-effective option. With Nomad, you can save up to 90% on fees compared to traditional banks.

Nomad charges a flat fee of £5 for international money transfers, regardless of the amount you’re sending. This is significantly lower than the fees charged by traditional banks, which can range from £15 to £50 per transaction.

3. Competitive Exchange Rates

Nomad digital bank offers competitive exchange rates for international transactions. This means that you get more value for your money when you use Nomad for international transactions. You can also avoid the hidden fees and markups that traditional banks often charge.

Nomad’s exchange rates are transparent, and you can check them on their website or mobile app before making a transaction. Nomad uses the mid-market exchange rate, which is the fairest exchange rate available. This means that you get the same exchange rate that banks and financial institutions use to trade currencies.

4. Faster Transactions

Traditional banks can take several days to process international transactions, which can be frustrating, especially if you need the money urgently. With Nomad digital bank, international transactions are processed quickly, usually within a few hours. This means that you can receive or send money faster, which is especially important for business transactions.

Nomad uses the Faster Payments Service (FPS) to process domestic payments in the UK. FPS is a secure and reliable payment system that allows you to send and receive money instantly. For international payments, Nomad uses the SWIFT network, which is a global messaging system that enables banks to transfer money securely and quickly.

5. Secure Transactions

Nomad digital bank uses advanced security measures to ensure that your transactions are secure. Your data is encrypted, and your account is protected by multi-factor authentication. This means that your money and personal information are safe from fraudsters and hackers.

Nomad is regulated by the FCA, which means that it has to comply with strict security standards. Nomad also uses two-factor authentication (2FA) to verify your identity when you log in to your account or make a transaction. 2FA adds an extra layer of security to your account, making it more difficult for hackers to access your account.

6. Mobile Banking

Nomad digital bank offers mobile banking, which means that you can carry out international transactions on the go. You can use the Nomad app on your smartphone or tablet to send or receive money from anywhere in the world. This is especially convenient if you’re traveling or if you need to send money urgently.

Nomad’s mobile app is available for iOS and Android devices and is free to download. The app allows you to check your account balance, view your transaction history, and make payments. You can also set up alerts to notify you when a transaction is complete or when your account balance reaches a certain level.

7. Multi-Currency Accounts

Nomad digital bank allows you to hold multi-currency accounts, which means that you can hold and transact in different currencies. This is useful if you do business in multiple countries or if you travel frequently. You can avoid the hassle of converting currencies every time you need to make a transaction.

Nomad offers multi-currency accounts in GBP, EUR, USD, and AUD. You can exchange currencies instantly using Nomad’s exchange rate, which is competitive and transparent. You can also transfer money between your Nomad accounts for free, which saves you money on fees.


Nomad digital bank offers several benefits for international transactions. It’s easy and convenient, offers lower fees, competitive exchange rates, faster transactions, secure transactions, mobile banking, and multi-currency accounts. If you’re looking for a more cost-effective and efficient way to carry out international transactions, Nomad digital bank is an excellent option to consider.

Nomad’s customer support is also excellent, and you can contact them via phone, email, or live chat if you have any questions or issues. Nomad also has a comprehensive FAQ section on their website, which covers most of the common questions that customers have.

Overall, Nomad digital bank is a reliable and trustworthy option for international transactions. It offers a range of features and benefits that make it a more attractive option than traditional banks. With Nomad, you can save time and money on international transactions, giving you more control over your finances.

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