Opening a bank account in Spain is going to be a pretty important part of your itinerary if you are thinking of moving to the country. When I first moved here, I used a card from a UK bank for a while, but once I decided to stay I needed to get myself a bank account in Spain.
In most countries, it’s pretty easy to open a bank account with all the technology, and with a lot of banks moving online. When you’re unfamiliar with a system though, you’re going to have a lot of questions and I am going to answer them all for you.
In this guide we will go through all the information on how to open a bank account in Spain. I will let you know how to do this for residents and non-residents with all the tips you need to make it a smoother process.
So why do you need to open a bank account in Spain
If you are over in Spain for a holiday, you can use a prepaid credit card, cash or your card from your home country. We all do this on holiday, but it’s different if you are going to be living in a country.
If you fall in love with the country and decide to live here like I do, then you will have to open a bank account in Spain. It will be necessary for your day to day living.
If you are making money exclusively overseas, you can still use a credit card from another country, but there will be times where it’s necessary to have a local bank account. And if you are working over here, then you need a Spanish bank account to get paid every month.
Here’s a few examples of when you will need a Spanish bank account:
- When you are going to be paying rent in Spain (exceptions can apply)
- If you are purchasing a property in Spain
- Paying for utilities
- Paying for insurance
You can also come across some places that just don’t accept card payments, albeit in the more rural areas and less common, you may need to withdraw cash and not want to have to pay the high fees your overseas bank will charge you.
Opening a bank account in Spain as a foreigner
You can open bank accounts in Spain as a non-resident a lot easier nowadays. It used to be more tedious, you needed a lot of paper work and copies and it took a while. But banks moving a lot of their processes online has helped streamline this process a great deal.
The fees and costs may be a little higher, but this is expected. Like this World Account that Santander have, you can apply online for a Spanish bank account with your passport. It has a monthly maintenance fee of €16 which is very reasonable.
Here are some other options for banks that offer non-resident bank account in Spain from the traditional banks:
- BBVA – The only downside is you have to apply to get this account in the country at a branch, and cannot be done online.
- Bankinter – You can apply for this one online and for now there are no fees.
- Banksabadell – Another bank with an account designed specifically for non residents that can apply online.
These accounts are all made for non-residents of Spain, so if you asking yourself ¨how to open bank account in Spain online¨, these are going to be the best options.
How to open a bank account in Spain as a non resident
Documentation you will need to open a Non-residents bank account in Spain:
For the most part, this is the type of documentation you will need to open an account. It’s pretty straightforward, but it helps to have a checklist. Some banks may require more or less, but make sure you have this information to hand as a minimum.
- A non-resident certificate that can be obtained locally at a police station and can take up to 10 days. Or, you can do this at the Spanish consulate in your local country. (not all banks require this)
- Your Identification, so a scan and copy of your passport. For Non-EU residents, they usually require a scan of your entire passport.
- Proof of address like utility bills, bank account statements, proof of ownership of a property etc.
- Proof of income or employment.
- If you are purchasing a property in Spain, documentation proving this.
Check with the requirements for the bank you choose to see if they require more or less information. Also check if they require any translated documents that will have to be translated and notarized. But mostly banks will accept documents in English.
How to open a bank account in Spain as a resident
The perks of having a resident bank account in Spain is that it cost less. You also get discounts for local services, online shopping and better conditions for loans. Another cool thins about Spanish bank accounts is most of them will charge you no fees if you have your paycheck deposited there every month.
To open a bank account as a resident is very easy. You can do it online, at a branch, or at one of those booths they have in the supermarkets, I actually opened mine this way, becuase they deal with all the paperwork, do your copies and you just wait for your card in the post.
The document you need are the same as most banks:
- Your Spanish NIE Number (Guide to get your NIE number)
- Valid Passport or Identification
- Proof of income
- Proof of address
So if you have the option, always opt for e resident bank account for the perks. Im sure you still have some other specific questions relating to bank accounts in Spain, so I will do my best to answer some of the more common ones.
FAQ’s
Best bank for foreigners in Spain?
There are so many banks to choose from, and I personally bank with ING. But, I will give list of my top choices, and you make an educated decision bade on that.
Can you open a bank account in Spain with no fees students
You will first need to get your student residency/visa card. Once you have this, most banks offer what they call ¨cuenta para jovenes¨, an account for young people. Some have no fees, some have minimal, but student accounts are cheaper to maintain.
Can I open a bank account in Spain as a non resident
Yes, take a look at our section above for all the information you need to open a bank account in Spain as a non resident.
Can I open a Bank account in Spain without NIE?
Yes, this would fall under bank accounts for non residents. Scroll up and see our complete guide on how to do so. In short, you need to apply using the identification of your home country.
Can I open bank account in Spain with a passport?
A passport is a perfectly acceptable form of ID. If you are an EU citizen, just a copy of the main page is enough. For all non-Eu citizens a copy of the whole passport may be required
Spanish requirements for opening a bank account in Spain
I am from the UK, and the requirements are pretty much the same here, and I would guess everywhere. Proof of address, income, identification are the main pieces of information you are going to need.
I live in the united states and my boyfriend in Spain, how can we open a joint bank account?
This might seem like an odd question, but a friend of mine is getting married, and they are in this situation. The partner in the US came over for a trip and they were able to do this with documentation at the branch. If you cannot be here in person though, you will need to speak with the bank to check the requirements, then do it through the Spanish foreign office in the US.
Conclusion
So with this information, I hope you have enough to confidently open a bank account in Spain. If you have any unanswered questions, let me know in the comments and I will be happy to do the research for you and get back to you with an answer.