Non-resident account in banking refers to a financial account established by individuals or entities who do not have legal residency in the country where the account is held. Non-resident accounts are typically offered by banks to cater to the banking needs of foreigners, expatriates, international businesses, and individuals who have financial interests in a country where they are not residents. These accounts are designed to facilitate cross-border transactions, international business activities, and the management of financial affairs across different jurisdictions.Non-resident accounts often come with specific features and benefits to accommodate the unique circumstances of account holders. For individuals, these accounts provide a means to manage finances in a foreign country, whether for personal reasons such as investment, property ownership, or education expenses. Expatriates and individuals working in foreign countries can receive salaries and remittances in their non-resident accounts, which are often denominated in the local currency. Many of these accounts offer online banking access and international fund transfer capabilities, enabling account holders to easily send and receive money internationally.