How to Open a Bank Account in Spain
Your Expat Banking Solution
If you are planning to move to Spain, in the process or preparing all the details for your move, finding the best bank is always important, and something we have to consider when opening a bank account. Therefore, in this page we show the list of best banks in Spain specially for expats.
What documents do I need to open a bank account in Spain?
In order to open a bank account, you’ll need the following documents to hand offically translated in Spanish.
- A valid passport or other acceptable proof of identity.
- Proof of address.
- Proof of your employment status (normally provided from your employer).
- Spanish foreigner identification number (NIE) and certificate.
Remeber that if you need to translate any document into Spanish, the translation needs to be from an official translator (knnown as traductor jurado) and have your documents authenticated with an official stamp.
1. Online Banks:
Open a Spanish bank account in English with zero paperwork online
N26 is a well known online bank (originally from Germany founded in 2013 and currently operating in 22 European countries and the USA) with the option to open a bank account with a Spanish IBAN. The main benefits from this option are:
- 1: Free bank account
- 2: Spanish IBAN
- 3: 100% app based
- 4: No paper work required
- 5: Open the bank account from your phone
- 6: N26 Mastercard
- 7: Foreign currency transfers
- 8: Pay using your virtual Mastercard
- 9: Standard bank account risk indicator 1/6
- 10: Documentation needed -> ID document (find all the types if IDs accepted here)
If you are not fluent in spanish and would you like to have an smooth process opening a bank account in order to start your next to do on your list, for example renting an appartment or getting your payslips, this is the most quicker and efficient option recommended from the taxcalculatorspain.com
Open a N26 Bank Account Here
2. Standard Banks:
If you want to open a bank account in a standard bank with a physical location then you will be able to open an account online or in person in most of them, but many banks will require at least one visit to a physical location to provide in person all documents required.
Find below a list of recommended banks:
CaixaBank CaixaBank has a specifically bank service for people moving to Spain, called HolaBank. The main differerence and benefits for this option is to be able to access to relocation services (not for free), including legal translations, lawyers, etc.
You can open a HolaBank account here. The main benefits of this account are:
Free debit and credit card.
Debit withdrawals at over 12,000 CaixaBank ATMs2 in Spain.
Issue of national bank cheques in euros and receiving transfers in foreign currency.
24/7 telephone assistance in 5 languages (English, French, German, Italian and Russian).
Unlimited telephone translation service in English, French, German, Italian and Russian.
Banco Sabadell Banco Sabadell, one of the biggest banks in Spain, has two main bank accounts for newcomers:·
Key Account. Specially for non-residents, including:
- Your first BSCard debit card and Classic credit card.
- Send and receive money online in Spain and European Economic Area countries for free.
- Enjoy 10 free translations per year of written texts up to 500 words.
Sabadell Account. For people starting a new life in Spain:
Debit and credit cards with no issue or maintenance fees. Use them immediately from the app.
No administration fees per entry, nor for online transfers within the European Economic Area, except for immediate transfers.
Free debit cash withdrawals at any of our more than 2,500 ATMs.
0% NIR. APR varies depending on the maintenance fee applied, ranging from 0.0% to -9.260%.
BBVA One of Spain’s biggest banks, and famuos due to its fee-free current accounts
Fee-Free Online account.
No account administration or maintenance fees, 0% NIR 0% APR.
The account includes a debit card with no issuance and maintenance fee for each holder.
From bbva.es, the BBVA app or ATMs within the European Economic Area.
Withdraw cash on debit at more than 4,500 BBVA ATMs in Spain.
Fee-Free Online Young
€0 No account administration or maintenance fees. (0% NIR 0% APR).
€0 No issuance or maintenance fee for the Aqua Debit Card.
No fees for debit cash withdrawals at more than 4,500 BBVA ATMs.
No fees for online transfers within the European Economic Area.
You don't have to direct deposit/debit your paycheck or bills or keep a minimum balance.
3. Sending money abroad:
If you need to send money back home from Spain, or send money to a friends in another country, there is another option with lower fees.
With Wise, you can open a multicurrency account and you will only pay a small fee. This type of accounts are handy if you are expat, as it will help you to avoid expensive bank fees when sinding money abroad.
One option when moving to Spain is to open a Wise account in advance of your move to Spain, this way you will be able to have a payment method while your are waiting for your new bank account to be opened.
Open a Wise account here