Opening a Foreign Bank account

Do you need to open a local bank acccount for the internship?
Are there any withdrawal fees for taking out cash?

You will obviously need money to survive abroad and stay safe, which is why you should become familiar with how you can open a bank account in your desination country. Compare local banks for cheap/free, temporary accounts and consider account processing times.

Some banks also offer free cash withdrawls in other countries, which can be useful when you go on weekend trips. Also look for special student rates, since you will maintain your student status during your internship.

Sometimes it’s necessary to open up an account in your destination country to transfer the salary for paid internships abroad. For example, you will rarely be able to avoid opening a Swiss account while completing an international placement.