How to Open a Bank Account in Spain: A Guide for Foreigners

If you’re planning on living in Spain or investing in property, you’ll likely need a Spanish bank account. Whether you're a resident or a non-resident, having aOpen A Bank Account local account makes handling payments, taxes, and everyday expenses much easier.

But who can open a bank account in Spain? What’s the difference between a resident vs. non-resident bank account in Spain? And what are the Spanish bank account requirements? Here’s everything you need to know.

Can Foreigners Open a Bank Account in Spain?

Yes! Both residents and non-residents can open a bank account in Spain. However, the type of account you need depends on your residency status.

  • Resident Bank Account:
    For individuals with a residence permit in Spain. This type of account offers lower fees and access to financial products like credit cards and mortgages.

  • Non-Resident Bank Account:
    If you don’t live in Spain but need an account for property transactions, travel, or business, you can apply for a non-resident bank account. These accounts often have higher fees but provide convenient access to banking services.

Documents Needed to Open a Bank Account in Spain

The documents needed vary depending on your residency status and the bank’s requirements. Generally, you’ll need:

  • For Non-Residents:

    • Valid passport

    • NIE number (Número de Identificación de Extranjero – foreigner identification number)

    • Proof of address (a utility bill or official government document from your home country)

    • Proof of income or tax return (for non-EU citizens)

  • For Residents:

    • Valid passport or Spanish ID (DNI)

    • NIE or TIE card (Tarjeta de Identidad de Extranjero)

    • Proof of Spanish address (such as a rental contract or utility bill)

    • Employment contract or tax declaration

Some banks may request additional documents, so it’s best to check with the specific bank before applying.

What is an NIE Number and Why Do You Need It?

Before you can open a bank account in Spain, you’ll likely need an NIE number. This is a unique identification number assigned to foreigners for legal, financial, and tax-related activities.

The NIE number in Spain is required for:

  • Buying or selling property

  • Paying taxes in Spain

  • Signing contracts or applying for a mortgage

  • Setting up utilities (electricity, water, internet)

  • Working or starting a business

  • Getting an education in Spain

To obtain an NIE, you must apply in person at the National Police Station (Policía Nacional) or through a Spanish consulate abroad. The process can take anywhere from a few days to several weeks, depending on where and when you apply. Once issued, the NIE is valid for life.

How Long Does It Take to Open a Bank Account in Spain?

The process can be completed within 1–5 days if all documents are ready. Debit/credit cards and checkbooks are typically delivered within two weeks.
Some banks may approve accounts instantly, while others require additional verification.
To speed up the process, send copies of your documents to the bank in advance or work with a legal advisor.

Benefits of Resident vs. Non-Resident Bank Accounts in Spain

  • Resident Account:

    • Lower fees

    • Access to mortgages and loans

    • Full banking services

  • Non-Resident Account:

    • Easy to open before moving

    • Ideal for international transfers

    • Convenient for property purchases

If you move to Spain permanently, you can later switch from a non-resident to a resident account by updating your documentation.

Which Banks Offer the Best Services for Foreigners?

Spain offers many banking options for expats and international students. Here are some of the best banks that provide English-speaking support and expat-friendly services:

  • Banco Sabadell – Banco Sabadell caters to foreign residents, offering dedicated accounts and English-speaking customer support. It is a popular choice for newcomers.

  • CaixaBank – CaixaBank offers basic non-resident accounts and a strong ATM network. It is one of Spain’s most established banks, known for its reliability.

  • BBVA –BBVA is Spain’s second-largest bank, offering non-resident bank accounts with competitive fees. Its mobile banking app makes managing transactions and international transfers easy.

  • Santander – As Spain’s largest financial institution, Santander provides secure online banking and low transaction fees. It also has English-speaking staff, making it ideal for foreigners.

  • Bankinter – Bankinter specializes in flexible banking solutions for expats, with low international transfer fees and a user-friendly digital banking system.

Can I Open a Bank Account in Spain Online?

Some banks allow non-resident accounts to be opened remotely, but most require at least one in-person visit for identity verification. If you’re not in Spain, you can:

  • Choose a bank that offers remote applications.

  • Give Power of Attorney (POA) to a representative who can open the account on your behalf.

  • Start the process online and finalize it at a branch when you arrive.

Are There Fees for Opening a Bank Account in Spain?

Yes, most Spanish banks charge fees depending on the account type and services provided. Here are some common costs to consider:

  • Maintenance Fees: Banks charge around €8 per month for account maintenance, with non-resident accounts typically costing more.

  • ATM Fees: Withdrawing from your bank’s own ATMs is free, but using another bank’s ATM may cost up to €2 per transaction.

  • International Transfer Fees: Transfers within the EU are often free, but sending money internationally can cost up to €15 for amounts over €50,000, with higher fees for larger sums.

For cheaper international transfers, services like Wise (formerly TransferWise) offer mid-market exchange rates and lower fees compared to traditional banks.

Ready to Open Your Spanish Bank Account? Let Us Guide You

Opening a Spanish bank account for foreigners is a straightforward process, but choosing the right account depends on your residency status and banking needs.

  • If you’re planning on living in Spain, a resident account offers better benefits.

  • If you’re buying property or spending time in Spain part-time, a non-resident bank account is the best option.

  • To make the process easier, prepare all documents needed to open a bank account in Spain in advance.

Need help? Contact us for expert guidance on how to open a bank account in Spain hassle-free!