An Expat’s Guide: how to open a bank account in Spain
What are the types of bank account in Spain?
- Cuenta bancaria o Cuenta corriente (current account) – this is the standard, everyday account that you’ll use for the basics.
- Cuenta de ahorros (savings account) – this is where to put your savings, to gain a little extra interest on your money.
- Cuenta de depósito (deposit account) – this is like a savings account, but with fewer options for accessing the money: it’s for funds that need to be held securely.
- Cuenta nomina (salary account) – this account is specifically designed to receive your paycheck from your employer.
How to choose a bank account in Spain
- How easy it is to open the account
- Do they have banking services in English? (Or other languages, if you’re not a fluent Spanish speaker)
- What are the fees?
How to open a bank account in Spain
- Open the account once you are already living in Spain. It sounds obvious, but it’s really easier to do this once you’re already here. Unlike finding jobs and apartments, this isn’t always a process you can do ahead of time, since you’ll likely need to include details such as your home address in the country.
- Have your documents ready (see the section “What do you need to open a bank account in Spain?”, below.)
- Choose your bank if you can find an English-speaking service, or alternatively, make use of digital banking to avoid language barriers. (For instance, N26 is available in five languages).
- Once you’re registered, you’ll need to wait a few days to receive your account details and card in the post. Again, it helps if you’re already in the country for this!
Send money abroad
International transfers with your N26 account are easy, fast and reliable.
International Money Transfer with N26How to open an online bank account in Spain
How to open an account with N26
How much does it cost to open a bank account in Spain?
Types of bank account fees in Spain
- Maintenance fee – this could be charged monthly, quarterly or yearly.
- Credit/debit card fee – there might be an additional charge, simply for owning one of these cards.
- Cash withdrawal fee – check with your bank provider to see if there’s a cost for using ATMs. You might be charged if you use an ATM that’s outside your bank’s ATM network.
- International transfer fees – if you’re likely to be sending money back and forth between countries, some banks charge variable fees for this.
What do you need to open a bank account in Spain?
- ID, such as a passport.
- A valid Spanish address.
- Your Número de Identificación de Extranjero (NIE) – this is the code that proves you’re officially registered in Spain.
- Proof of your employment status – a student card if you’re a student, a contract if you’re employed, or some official documentation to confirm you’re unemployed.
At what age can you open a bank account in Spain?
How much does it cost to cancel a bank account in Spain?
Don’t let the banking stop you from making the most of your first few weeks and months in Spain! If you can find an option that works for you, then opening a Spanish bank account should be as easy as *uno, dos, tres.*
FAQs
- Can I open a bank account in Spain as a non-resident?
- How long does it take to open a bank account?
- Can I open an account in several countries?
Get a local IBAN with N26
At N26, we’ve taken the red tape out of opening a bank account in Spain. Open an online account in minutes—all you’ll need is your smartphone, a valid address in Spain, and a valid photo ID. You’ll get an official Spanish IBAN, so you can pay and be paid like a local. Plus, there are no hidden fees and you’ll always have access to English-speaking customer service, so you can focus on settling in to your new home.
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