Open a Bank Account in Spain: Complete Guide 2025

Opening a bank account in Spain is essential for receiving salaries, paying bills, and managing daily expenses. This comprehensive guide explains how to open a Spanish bank account, required documents, best banks for expats, fees, and how to navigate Spain’s banking system in 2025.

Quick Facts:

• Required Documents: NIE or passport, proof of address, proof of income (sometimes)
• Opening Time: 30 minutes - 1 week depending on bank
• Monthly Fees: €0-€30 (digital banks free; traditional banks €3-€15)
• Best for Expats: N26, Revolut, BBVA, CaixaBank, Santander
• IBAN Format: ES + 22 digits (e.g., ES91 2100 0418 4502 0005 1332)
• Deposit Insurance: €100,000 per depositor per bank (EU guarantee)

Why You Need a Spanish Bank Account

Essential For:

• Receiving salary (most Spanish employers require Spanish IBAN)
• Paying rent via direct debit (domiciliación)
• Setting up utilities (electricity, gas, water, internet)
• Autónomo Social Security direct debits
• Tax payments and refunds
• Avoiding international transfer fees
• Proving financial stability for visa applications/renewals

Not Strictly Required For:

• Tourist stays
• Short-term visits (<3 months)
• If you have no Spanish financial obligations

Recommendation: Open an account within your first 1-2 weeks in Spain.

Types of Spanish Banks

Traditional Spanish Banks (Bancos Tradicionales)

Large established banks with extensive branch networks.

Major Banks:

• BBVA (Banco Bilbao Vizcaya Argentaria)
• Santander (Banco Santander)
• CaixaBank (formerly La Caixa)
• Sabadell
• Bankinter

Pros:

• Physical branches nationwide (face-to-face support)
• Full range of services (mortgages, investments, business accounts)
• Established reputations
• Older expats often prefer personal service

Cons:

• Monthly fees (€3-€30 typically)
• More bureaucratic (paperwork, appointments)
• Less English support (major cities better)
• Fees for international transfers

Best For: Long-term residents, people needing in-person banking, mortgage seekers, business owners.

Digital Banks (Bancos Digitales/Neobanks)

App-based banks with no physical branches.

Popular Digital Banks:

• N26 (German neobank, Spanish license)
• Revolut (UK-based, operates in Spain)
• Wise (formerly TransferWise—multi-currency accounts)
• Bnext (Spanish neobank)
• OPENBANK (Santander’s digital brand)

Pros:

• No monthly fees (or very low)
• English-language apps
• Easy online account opening (5-15 minutes)
• No branch visits required
• Great for international transfers (Wise, Revolut)
• Real-time spending notifications

Cons:

• No physical branches (customer service via app/phone)
• Limited services (no mortgages, complex products)
• Some Spanish entities don’t accept them (employers, landlords may require traditional bank)
• ATM withdrawal limits (€200-€1,000/month free, then fees)

Best For: Digital nomads, young professionals, expats comfortable with app-based banking, people making frequent international transfers.

Hybrid: Digital Arms of Traditional Banks

Traditional banks’ digital-only offerings.

Examples:

• OPENBANK (Santander)
• imaginBank (CaixaBank)

Pros:

• No monthly fees
• Backed by traditional bank (more trust)
• Spanish IBAN from established bank
• Combines digital convenience with bank credibility

Cons:

• Still limited branch access
• Fewer features than full traditional accounts

Best For: People wanting digital banking but from established Spanish institutions.

Best Banks for Expats in Spain

N26 (Best Overall for Expats)

Type: German digital bank, fully licensed in Spain

Monthly Fee: €0 (free account)

Pros:

• Completely free account (no hidden fees)
• Full English app and support
• Opens in 10 minutes (online, no branch visit)
• Spanish IBAN (ES…)
• Accepted by most Spanish employers and landlords
• Free ATM withdrawals (up to 3-5 per month, then €2/withdrawal)
• Free Euro SEPA transfers
• Beautiful app, great UX

Cons:

• No physical branches (phone/chat support only)
• ATM withdrawal limits
• Not ideal for mortgages or complex banking needs

Best For: Young professionals, digital nomads, anyone wanting hassle-free English banking.

How to Open: Download N26 app, video verification (passport/NIE), approved in 5-15 minutes, card arrives in 5-7 days.

Revolut (Best for International Transfers)

Type: UK-based neobank (EEA licensed)

Monthly Fee: €0 (free Standard account), €2.99-€13.99 (Premium/Metal for perks)

Pros:

• Free account option
• English app
• Excellent exchange rates (no markup on weekends for Premium)
• Multi-currency accounts (hold EUR, USD, GBP, etc.)
• Instant transfers between Revolut users
• Stock trading, crypto, commodities in-app
• Virtual cards for online shopping

Cons:

• Lithuanian IBAN (LT…) not Spanish—some Spanish employers/landlords reject
• ATM withdrawal limits (€200/month free, then 2% fee)
• Customer service can be slow

Best For: People with international income, frequent travelers, crypto enthusiasts.

Tip: Use Revolut as secondary account for international transfers; get N26 or traditional bank as primary for Spanish IBAN.

BBVA (Best Traditional Bank for Expats)

Type: Traditional Spanish bank

Monthly Fee: €0-€30 (depends on account type; free if you have salary direct deposit >€800/month)

Pros:

• 3,000+ branches across Spain
• English-speaking staff in major cities
• Excellent mobile app (BBVA App)
• Full services (mortgages, investments, business accounts)
• International presence (good for Latin Americans)

Cons:

• Monthly fee if no salary deposit
• Can be bureaucratic (appointments, paperwork)
• Limited English support outside major cities

Best For: Professionals with Spanish employment, people wanting full-service banking, mortgage seekers.

How to Open: Book appointment at branch, bring NIE + proof of address + employment contract, 30-60 minute appointment, account opens same day.

CaixaBank (Largest ATM Network)

Type: Traditional Spanish bank

Monthly Fee: €0-€18 (free with salary deposit >€600/month)

Pros:

• Largest ATM network in Spain (10,000+ ATMs)
• Branches everywhere
• imaginBank (digital arm) for younger users
• Strong online banking
• Good mortgage products

Cons:

• Fees if no direct deposit
• Customer service mostly Spanish
• Can be bureaucratic

Best For: People prioritizing ATM access, rural residents, families.

Santander (Best for International Connections)

Type: Traditional Spanish bank

Monthly Fee: €0-€30 (free with €2,500/month deposits)

Pros:

• Global bank (presence in UK, US, Latin America)
• OPENBANK (digital arm) is fee-free
• Good for international money management
• English support in major cities

Cons:

• Fees unless high deposits
• Bureaucratic
• Upsells products aggressively

Best For: People with existing Santander accounts in home countries, high earners.

Wise (Best for Multi-Currency Needs)

Type: Multi-currency account (not a bank, but EMI—electronic money institution)

Monthly Fee: €0

Pros:

• Hold 40+ currencies
• Real exchange rates (no markup)
• Extremely low transfer fees
• Great for receiving foreign income (freelancers, remote workers)
• Wise debit card accepted globally

Cons:

• Belgian IBAN (BE…)—not Spanish, many Spanish entities reject
• Not a full bank (no overdrafts, loans, etc.)
• Some employers refuse to pay into Wise accounts

Best For: Digital nomads receiving foreign income, freelancers with international clients, people sending money abroad frequently.

Use Case: Primary bank: N26 (Spanish IBAN for salary/rent). Secondary: Wise (receive USD/GBP payments, convert to EUR, transfer to N26).

Comparison Table

Bank	Type	Monthly Fee	Spanish IBAN	English App	ATMs	Best For
N26	Digital	€0	Yes (ES)	Yes	Limited free	Expats, young professionals
Revolut	Digital	€0-€14	No (LT)	Yes	€200 free/mo	International transfers, travelers
BBVA	Traditional	€0-€30*	Yes	Yes	3,000+	Full-service banking
CaixaBank	Traditional	€0-€18*	Yes	Limited	10,000+	ATM access, families
Santander	Traditional	€0-€30*	Yes	Yes	4,500+	International ties
Wise	Multi-currency	€0	No (BE)	Yes	N/A	Multi-currency, freelancers

*Free with direct deposit/minimum balance

Required Documents to Open a Bank Account

Essential Documents

1. Identification:

• NIE (Número de Identificación de Extranjero) OR
• Passport (some banks accept passport initially, but require NIE within weeks)
• TIE (Tarjeta de Identidad de Extranjero) if you have residence permit

Recommendation: Get your NIE before opening an account (makes process smoother).

NIE Application Guide →

2. Proof of Address (Comprobante de Domicilio):

• Rental contract (contrato de alquiler), OR
• Padrón certificate (certificado de empadronamiento), OR
• Utility bill in your name, OR
• Property deed if you own property, OR
• Hotel reservation (temporary, for tourists)

Recommendation: Empadronamiento certificate is most widely accepted.

Empadronamiento Guide →

3. Proof of Income (Sometimes Required):

• Employment contract (contrato de trabajo), OR
• Payslips (last 3 months), OR
• Bank statements showing regular income, OR
• Tax returns (for self-employed)

Note: Digital banks (N26, Revolut) rarely require proof of income. Traditional banks often do, especially for account types with benefits.

4. Initial Deposit:

• Most banks: €0 (no minimum deposit)
• Some premium accounts: €1,000-€3,000 initial deposit

Non-Resident Accounts

Can non-residents open Spanish bank accounts?

Yes, but requirements are stricter:

• Passport (NIE not required for non-residents)
• Proof of foreign address
• Proof of income (usually required)
• Reason for account (e.g., buying property, frequent visits)

Non-Resident Account Types:

• Limited services (no overdrafts, credit cards restricted)
• Higher fees (€10-€30/month)
• Branch visit usually mandatory

Recommendation: If you’re moving to Spain, wait until you’re a resident to open an account (easier, cheaper).

How to Open a Bank Account: Step-by-Step

Method 1: Digital Bank (Online Application)

Example: N26

Step 1: Download App

• iOS: App Store
• Android: Google Play

Step 2: Start Application

• Select “Open Account”
• Choose country: Spain
• Enter personal details (name, date of birth, address, nationality)

Step 3: Verify Identity

• Upload passport or NIE photo
• Video verification (5-minute video call or selfie verification)
• N26 verifies documents

Step 4: Approval

• Instant to 24 hours
• Receive Spanish IBAN immediately
• Can make/receive transfers right away

Step 5: Receive Card

• Debit card mailed to your Spanish address
• Arrives in 5-10 business days
• Activate via app

Total Time: 10 minutes application + 5-10 days for card.

Method 2: Traditional Bank (In-Person)

Example: BBVA

Step 1: Book Appointment

• Visit branch or call to book
• Some branches accept walk-ins (less reliable)
• Request English-speaking staff if needed

Step 2: Gather Documents

• NIE or passport
• Proof of address (padrón, rental contract)
• Proof of income (employment contract, payslips)

Step 3: Attend Appointment

• Go to branch at scheduled time
• Meet with account manager (gestor de cuentas)
• Explain your needs (basic account, salary account, etc.)

Step 4: Complete Paperwork

• Fill out account application forms
• Sign account agreement
• Provide tax residence information (for FATCA/CRS compliance if non-EU)
• Choose account type

Step 5: Receive Account Details

• Given Spanish IBAN immediately
• Online banking credentials (username/password)
• Debit card issued (sometimes immediately, sometimes mailed)

Step 6: Activate Online Banking

• Download bank app or access website
• Log in with credentials
• Set up 2FA (two-factor authentication)

Total Time: 30-60 minutes at branch + 5-10 days for card (if mailed).

Understanding Spanish Banking Costs

Account Maintenance Fees

Digital Banks:

• N26: €0/month
• Revolut: €0-€14/month (€0 for Standard, optional Premium/Metal)
• Wise: €0/month

Traditional Banks:

• BBVA: €0-€30/month (free with €800+ salary deposit)
• CaixaBank: €0-€18/month (free with €600+ salary deposit)
• Santander: €0-€30/month (free with €2,500+ deposits or package)

How to Avoid Fees:

• Set up direct deposit (salary) >€600-€800/month
• Maintain minimum balance (€1,000-€3,000)
• Use digital banks (always free)

Transaction Fees

Domestic Transfers (Within Spain):

• SEPA Transfers: Free at most banks
• Instant Transfers: €0-€2

International Transfers:

• Traditional banks: €10-€45 per transfer + poor exchange rates (1-4% markup)
• Digital banks (N26, Revolut): €0-€5 + better exchange rates
• Wise: €3-€15 (lowest fees, real exchange rates)

Recommendation: Use Wise or Revolut for international transfers; traditional banks are expensive.

ATM Withdrawals

Your Bank’s ATMs: Free

Other Bank’s ATMs (in Spain):

• €0-€2 per withdrawal (most banks)
• N26: First 3-5 withdrawals/month free, then €2

International ATMs (Outside Spain):

• €3-€5 per withdrawal (traditional banks)
• 1-3% foreign transaction fee
• Digital banks: Better rates (Revolut Premium: no fees)

Tip: Withdraw larger amounts less frequently to minimize ATM fees.

Other Fees

Debit Card: €0-€20/year (usually free)

Credit Card: €0-€50/year (depends on card type)

Paper Statements: €1-€3/month (go digital—free)

Overdraft Fees: 10-25% annual interest (avoid overdrafts)

Account Closure: Usually free (confirm before opening)

Online Banking & Mobile Apps

All major Spanish banks offer online banking and mobile apps.

Features to Expect:

Account Management:

• View balances and transaction history
• Download statements (PDF)
• Update personal information

Transfers:

• SEPA transfers (to Spanish/EU accounts)
• Instant transfers (Bizum for Spain)
• International transfers (fees apply)

Bill Payments:

• Direct debits (domiciliaciones) for rent, utilities
• Pay bills via reference number

Security:

• Two-factor authentication (SMS, app notification, or hardware token)
• Biometric login (fingerprint, Face ID)
• Transaction alerts

Card Management:

• Freeze/unfreeze cards
• Set spending limits
• Order replacement cards

Bizum (Spain’s Instant Payment System)

Bizum is Spain’s peer-to-peer instant payment system (like Venmo/Zelle).

Features:

• Instant transfers between individuals (seconds)
• Send/receive money using mobile phone number
• Free (most banks)
• Max €1,000/transfer, €2,000/month (varies by bank)

Use Cases:

• Splitting restaurant bills
• Paying friends back
• Receiving payments (freelancers, informal sales)
• Donating to charities

Availability: Integrated into most Spanish bank apps (BBVA, CaixaBank, Santander). N26 doesn’t support Bizum yet (as of 2025).

Common Problems and Solutions

Problem 1: Bank Rejects Application (No NIE)

Issue: You try to open an account but bank requires NIE, which you don’t have yet.

Solutions:

• Get NIE first: Most reliable approach—apply for NIE before bank account.
• Use digital bank: N26 sometimes accepts passport initially (depends on situation).
• Try multiple banks: Some are more flexible than others.
• Non-resident account: Open as non-resident (higher fees), upgrade to resident account after getting NIE.

Problem 2: Employer/Landlord Rejects Revolut/Wise IBAN

Issue: Your employer or landlord requires a Spanish IBAN (ES…), but you have Revolut (LT…) or Wise (BE…).

Solution:

• Open a secondary account with Spanish IBAN (N26, BBVA, CaixaBank)
• Use Spanish IBAN for salary and rent
• Use Revolut/Wise for international transfers and personal spending

Why They Reject:

• Employers’ payroll systems may only accept ES IBANs
• Landlords prefer Spanish IBANs for direct debit reliability
• Legal/accounting reasons (some companies policy)

Problem 3: High International Transfer Fees

Issue: Your traditional bank charges €25-€45 + 2-4% exchange markup for international transfers.

Solution:

• Use Wise: Real exchange rates, low fees (€3-€15 typical)
• Use Revolut Premium: No markup on exchange rates
• Transfer less frequently: Send larger amounts monthly instead of small amounts weekly

Example:

• Transferring €1,000 from USD:
  • Traditional bank: €25 fee + €30 exchange markup = €55 cost (5.5%)
  • Wise: €8 fee + €0 markup = €8 cost (0.8%)
  • Savings: €47 per transfer

Problem 4: Account Frozen Without Warning

Issue: Bank freezes your account due to “suspicious activity” (common with large transfers, especially international).

Why This Happens:

• Anti-money laundering (AML) regulations
• Unusual transaction patterns (large deposits, frequent international transfers)
• Lack of documentation (can’t explain source of funds)

Solution:

• Provide documentation: Bank will request proof of income source (employment contract, invoices, tax returns)
• Be patient: Resolution takes 3-10 days
• Keep secondary account: Have backup account (N26 + BBVA) so one freeze doesn’t paralyze finances

Prevention:

• Notify bank of large incoming transfers beforehand
• Keep records of income sources
• Respond promptly to bank requests

Problem 5: Difficulty Closing Account After Leaving Spain

Issue: You’ve left Spain and want to close your account remotely, but bank requires in-person visit.

Solution:

• Call customer service: Some banks allow closure by phone or registered mail
• Grant power of attorney (poder): Friend in Spain closes account on your behalf
• Leave account open with €0: Some banks auto-close after 2 years of inactivity (check policy)
• Digital banks: Easier—close via app or email

Recommendation: Before leaving Spain permanently, close accounts in person or transfer to digital bank (easier remote closure).

Banking Tips for Expats

Tip 1: Open Two Accounts

• Primary (Spanish IBAN): N26, BBVA, or CaixaBank for salary, rent, bills
• Secondary (International): Wise or Revolut for foreign income, travel, international transfers

Tip 2: Set Up Direct Debits Early

• Rent (domiciliación de alquiler)
• Utilities (luz, agua, gas, internet)
• Mobile phone
• Gym, subscriptions

Tip 3: Enable Notifications

• Real-time alerts for all transactions (fraud prevention)
• Low balance alerts
• Card usage abroad notifications

Tip 4: Keep Emergency Cash

• ATMs sometimes malfunction or reject foreign cards
• Keep €200-€500 cash at home for emergencies

Tip 5: Understand Direct Debit Rights

• SEPA Direct Debit: You can reverse any direct debit within 8 weeks (no questions asked)
• If landlord or utility company overcharges, request refund from your bank
• Spanish Consumer Protection: File complaint if bank refuses (Banco de España)

Tip 6: Monitor Exchange Rates

• If making international transfers, track rates (use Google Finance, XE.com)
• Transfer when rates are favorable
• Avoid weekend transfers with most banks (poor rates)

Tip 7: Keep Old Bank Account Open Initially

• Don’t close your home country bank account immediately
• Keep it active for 6-12 months (emergency access, receive funds from home)
• Close after you’re fully settled in Spain

Get Expert Help

Most people open bank accounts themselves (straightforward), but assistance is available for complex cases.

Recommended Services:

• Gestorías → - Help with bank account opening, document preparation (€50-€150)
• Financial Advisors → - For investment accounts, mortgages, wealth management

When to DIY:

• Opening basic account (N26, Revolut)
• You have all documents (NIE, proof of address)
• Comfortable with Spanish or English online processes

When to Get Help:

• Complex situation (non-resident, large deposits, business account)
• Language barrier (limited English at traditional banks)
• Need mortgage or investment account
• Repeated rejections

Related Guides

• NIE Number Application → - Required for most bank accounts
• Empadronamiento Guide → - Proof of address for banks
• Spanish Taxes for Expats → - Bank account needed for tax refunds
• Autónomo Self-Employment → - Business bank accounts for freelancers
• Cost of Living in Spain → - Budgeting and expenses
• Digital Nomad Visa → - Bank account required for visa applications

FAQs About Spanish Bank Accounts

Can I open a Spanish bank account without NIE?

Difficult but possible. Digital banks (N26, Revolut) sometimes accept passport initially, though may request NIE later. Traditional banks usually require NIE upfront. Non-residents can open accounts with passport only, but fees are higher (€10-€30/month) and services limited. Best approach: Get your NIE first—makes bank account opening much easier. NIE application takes 1-4 weeks →

What is the best bank in Spain for expats?

N26 is best overall: free, English app, Spanish IBAN (ES…), opens in 10 minutes online, accepted by employers/landlords. Revolut is best for international transfers but has Lithuanian IBAN (some Spanish entities reject). BBVA is best traditional bank: branches everywhere, English support, full services (mortgages, investments). Recommendation: Primary account: N26 or BBVA. Secondary: Revolut or Wise for international needs.

How long does it take to open a Spanish bank account?

Digital banks (N26, Revolut): 10-15 minutes application, instant IBAN, card arrives in 5-10 days. Traditional banks (BBVA, CaixaBank): 30-60 minute branch appointment, instant IBAN, card arrives same day to 10 days. Non-resident accounts: 1-2 weeks (more paperwork). Fastest: N26—can receive salary same day you apply (use IBAN before card arrives).

Do I need proof of address to open a bank account?

Yes, almost all banks require proof of address. Accepted documents: Padrón certificate (best—get this first), rental contract, utility bill in your name, hotel reservation (temporary). Digital banks are more flexible (some accept hotel reservation initially). Traditional banks strictly require padrón or rental contract. Get padrón within first week in Spain →

Are Spanish banks safe?

Yes, very safe. Spanish banks are regulated by Banco de España (Central Bank) and EU regulations. All deposits up to €100,000 per depositor per bank are insured by Spanish Deposit Guarantee Fund (FGD). Major banks (BBVA, Santander, CaixaBank) are among Europe’s strongest. Digital banks (N26, Revolut) are licensed and regulated—equally safe. Spread deposits across multiple banks if you have >€100k.

What is a Spanish IBAN and why do I need one?

Spanish IBAN starts with ES followed by 22 digits (e.g., ES91 2100 0418 4500 0051 332). You need it because: most Spanish employers require ES IBAN for salary (payroll systems reject foreign IBANs), landlords prefer ES IBANs for rent direct debits, utilities require Spanish accounts, tax refunds paid to Spanish IBANs. N26, BBVA, CaixaBank issue Spanish IBANs. Revolut (LT), Wise (BE) do not—use as secondary accounts.

Can I use my foreign bank account in Spain?

Yes, but not ideal. Problems: International transfer fees (€10-€45 per transfer), poor exchange rates (2-4% markup), Spanish employers usually reject foreign IBANs, landlords reject foreign accounts for direct debit, ATM fees (€3-€5 per withdrawal + FX fees). Better: Open Spanish account (N26 free) for Spanish transactions, keep foreign account for emergencies. Most expats need Spanish account within first month.

How do I close a Spanish bank account?

Digital banks: Close via app (N26, Revolut) or email—immediate to 5 days. Traditional banks: Visit branch, request closure (cierre de cuenta), sign paperwork, receive confirmation. If abroad: Call customer service or send registered mail requesting closure, or grant power of attorney to friend. Before closing: Ensure no pending transactions, cancel direct debits, withdraw all funds. Fees: Usually free (confirm first).

What is Bizum and do I need it?

Bizum is Spain’s instant peer-to-peer payment system (like Venmo). Send money instantly using recipient’s phone number, free, integrated into most Spanish bank apps (BBVA, CaixaBank, Santander). Use cases: Split bills, pay friends, small business payments. Availability: Traditional banks support it. N26 doesn’t support Bizum yet (as of 2025). Need it? Very useful for social payments and informal transactions—most Spaniards use it. Consider opening traditional bank account (even with minimal balance) just for Bizum access.

Are there monthly fees for Spanish bank accounts?

Digital banks: €0 (N26, Revolut Standard, OPENBANK). Traditional banks: €3-€30/month BUT waived if you meet conditions: Direct deposit salary (€600-€2,500/month depending on bank), maintain minimum balance (€1,000-€3,000), use account actively (5+ transactions/month), bundle with other products (credit card, insurance). Most expats avoid fees by: Direct deposit salary or using digital banks. Check fee waiver conditions before opening account.