Opening a bank account in Spain as a non-resident might sound like a time-consuming task, but it shouldn’t be. Spain is home to a great number of internationals. The banking system's used to offering its services to internationals. Let's break down how the Spanish bank system works and how you can open your own Spanish bank account in no time.
Although it isn't compulsory to have a Spanish bank account when you’re (temporarily) living in Spain, it’s useful to have one. You can use a Spanish bank account to pay your rent and utilities in Spain.
The banking system in Spain is comprehensible, even when you’re a foreigner.
There are 2 types of bank accounts in Spain:
It’s up to you to decide which account you prefer. Keep in mind that a resident’s bank account gives you more flexibility, where the non-residents’ account is easier to open.
When opening an account you can choose the following:
In all cases, feel free to contact your bank to understand what type of account suits you best.
Since many banks may not have English-speaking staff, consider scheduling an appointment with someone who speaks English or bringing along a translator, such as a fluent friend, to assist you.
To open your resident account, you need the following documents:
Remember, documents not in Spanish will need official translation by a authorized translator.
If you plan to visit the branch to open your bank account, remember that in Spain banks typically are open from 09:00 to 14:00, Monday to Saturday. Many banks don't have English speaking employees. So make sure to bring someone who can speak Spanish to help you out or try to learn some Spanish by yourself.
Opening a bank account in Spain as a non-resident is a relatively straightforward process, but it does require certain documents and steps to be completed. While not all Spanish banks offer accounts for non-residents, big names like Santander, BBVA, and Banco de Sabadell do provide bank account for non-residents.
To open a non-resident bank account in Spain you'll need to gather following documents:
If you're abroad, you can apply for the non-resident confirmation letter at a Spanish Consulate in your home country. The letter takes approximately 1 week to be issued and is valid for 3 months.
You also need to make sure that any documents not in Spanish are translated by an authorized translator.
Remember that specific requirements and procedures may vary depending on the bank and your individual circumstances. It's always a good idea to contact the bank directly or visit their website for detailed information before opening a bank account in Spain for non-residents.
To open a bank account online in Spain, simply visit the website of your preferred Spanish bank. Then, simply follow the steps below to open your bank account online:
Many Spanish banks let you open an account online, which usually takes just 10 minutes. If you face any issues during the process, just contact the bank's customer service for assistance.
Santander is one of the best Spanish banks for non-residents. Being the largest banking group in Spain with a wide-reaching international presence, it's renowned for its reliability and trustworthiness. Santander offers the Non-Resident Mundo Account specifically tailored for non-residents. With their user-friendly online banking app, you can easily open new accounts, transfer money, and manage payments—all from one convenient place. This flexibility makes Santander an excellent choice for non-residents. They provide multilingual customer service and convenient online banking options. Plus, Santander's non-resident account stands out as one of the most affordable options, with a monthly fee of just €16.
Which bank works best for you depends on your personal situation. The Spanish banking system offers around 140 different (online) banks, so there’s plenty to choose from!
Here are some popular banks that you can consider:
The costs of opening a bank account in Spain vary per bank. Some banks even have fee-free basic accounts or student accounts with a discount. On average, you will pay:
Withdrawing cash at the ATM is free, in most cases.
Yes, depending on the type of bank you are able to open a bank account without your NIE number. Some banks that offer the possibility to open a bank account without a NIE number: LaCaisa, Bankinter, Santander and Sabadell.
Get in touch with the bank of your preference to see what the possibilities are.
Now, are you ready to spend (or earn) your money in Spain? Explore what are the best places to live in Spain.
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