Opening a bank account in Spain can be relatively straightforward, and generally requires valid identification and proof of address documents.
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Opening a bank account in Spain can be relatively straightforward, but it can also vary depending on the bank and the type of account being opened. Generally, the following documents are required to open a bank account in Spain:
- Valid identification, such as a passport or national identity card
- Proof of address, such as a utility bill or rental contract
- NIE (Foreigner’s Identification Number) or TIE (Foreigner’s Identity Card) for non-residents
- Some banks may also require proof of income or employment
It is worth noting that the process of opening a bank account in Spain can be more complicated for non-residents, as they may need to provide additional documentation and go through more rigorous checks.
According to Spain’s Central Bank, there were 215 banks operating in Spain at the end of 2020, with nearly 40,000 branches across the country. Some of the major banks in Spain include Santander, BBVA, CaixaBank, and Bankia.
In recent years, there has been a push towards digital banking in Spain, with many banks offering online account opening options and mobile banking apps for easy account management.
Overall, opening a bank account in Spain can be relatively easy as long as the necessary documentation is provided. It is recommended to shop around and compare different bank options before deciding on a specific account.
As famous investor Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” This quote highlights the importance of selecting a reputable bank with a good track record.
Below is a table comparing the features of some of the major banks in Spain:
| Bank | Online account opening | Mobile app | Number of branches |
|---|---|---|---|
| Santander | Yes | Yes | Over 3,200 |
| BBVA | Yes | Yes | Over 3,000 |
| CaixaBank | Yes | Yes | Over 4,500 |
| Bankia | Yes | Yes | Over 2,000 |
Video answer to your question
This video covers the different types of banks in Spain, such as private, public, and state-owned, and their respective services, including internet banking and free ATM access. To open a bank account, EU citizens should provide their passport, NIE, proof of address, and employment status, while non-EU citizens must supply additional documents such as consular inscription or ownership/lease of a Spanish property. The video also suggests individuals visit both types of banks to determine the most convenient option and obtain a service called “domithilion bankaria” to manage bill payments.
Other viewpoints exist
The process to open your account is much more straightforward, and will require you to submit: Valid passport or national ID card. Spanish NIE. Documents confirming your source of income (employment contract, student card, unemployment paperwork)
How to open a bank account in Spain It’s best to visit the bank of your choice in person and request an account. Banks are usually only open 9am–2pm Monday to Saturday. Many don’t have English-speaking staff; either book an appointment with an English-speaker or bring a translator (a fluent friend will do) with you.
For this, you may need to provide a certificate of non-residency. Other documents required when opening up a bank account in Spain are proof of ID (e.g. passport), proof of address, plus your Spanish NIE number of you are a resident. Accounts are usually opened with 5 working days and bank cards sent out within two weeks.
To open a bank account as a resident, you will normally need the following documents:
- Your valid, unexpired passport or national identity card (if you are an EU citizen);
The exact process for opening your Spanish bank account will vary from bank to bank — but in general terms the steps will be the same:
- Step 1. Research banks and account options to find one that suits you
More interesting questions on the issue
Can foreigners open a bank account in Spain?
The answer is: Yes, a foreign non-resident in Spain can open a bank account. To do so, they must take an ID document (normally a passport) and a certificate of non-residency to any of our branches. Other documents may be requested according to the product they wish to contract.
What do I need to open a bank account in Spain as a foreigner?
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.
What American bank is in Spain?
Answer will be: Citi
Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country.
How to open a bank account in Spain as a European citizen?
The reply will be: What do I need to open a bank account in Spain?
- A valid, current passport or national identity card if you’re an EU citizen.
- A document that proves your address in Spain, such as a utility bill that is less than three months old, or a recent bank statement from another Spanish bank.
Should you open a bank account in Spain?
The answer is: If you’re moving to Spain long-term, you will probably want to open up a Spanish bank account. Spain has a big expat community; as a result, there are many banks that cater their services towards expats. Opening a bank account in Spain is fairly straightforward, although there has been a tightening of regulations since the 2008 financial crisis.
Can you open a savings account for a child in Spain?
As a response to this: Many Spanish banks offer accounts for children such as junior savings accounts. If you want to open up an account for your child, it’s best to do this at a Spanish bank branch; some banks allow you to do this online. The process is not that much different from opening an account for yourself.
Which Spanish banks are open to expats?
Spanish banks that offer accounts and services that are open to expats include the following providers. One of Spain’s biggest banks, BBVA offers various commission-free accounts including a basic current account, a young blue account for people aged 18-29, and a payroll account for managing income.
What type of banking system does Spain have?
As a response to this: Spain has an integrated and internationalized banking system. It consists of 141 current private banks (including around 80 foreign-owned banks), plus many regional cooperative and savings banks. The Banco de España is Spain’s national bank which also serves as the regulator for the banking sector.
What documents do I need to open a bank account in Spain?
The answer is: In order to open a bank account in Spain, you’ll need the following documents to hand¹: Proof of your employment status – such as an employment contract signed by your employer. Also acceptable are student cards, or unemployment documentation. Spanish foreigner identification number (NIE) and certificate.
Can you open a savings account for a child in Spain?
The reply will be: Many Spanish banks offer accounts for children such as junior savings accounts. If you want to open up an account for your child, it’s best to do this at a Spanish bank branch; some banks allow you to do this online. The process is not that much different from opening an account for yourself.
Can a US citizen open a bank account in Spain?
Response will be: Yes. As an American you can open a bank account in Spain in a few different ways, depending on your situation. We’ll look at options in more detail in a moment. Normally you’ll be able to choose between: Can a US citizen open a bank account in Spain with a USA address? You can open a Spanish bank account with a USA address.
Which Spanish banks are open to expats?
Answer to this: Spanish banks that offer accounts and services that are open to expats include the following providers. One of Spain’s biggest banks, BBVA offers various commission-free accounts including a basic current account, a young blue account for people aged 18-29, and a payroll account for managing income.