Bank Accounts in Spain: Complete Guide for Expats and Non-Residents (2026)

Opening a bank account in Spain is one of the first practical steps you'll take after arriving—and one that can trip up even seasoned expats. Spanish banks have specific documentation requirements that vary based on your residency status, nationality, and whether you hold an NIE (Número de Identificación de Extranjero). This guide breaks down exactly what you need, compares the major Spanish and digital banks, and shows you how to open an account even before you arrive.

Why You Need a Spanish Bank Account

A Spanish IBAN isn't just convenient—it's essential for daily life in Spain. Without one, you'll face complications at nearly every turn:

Renting an apartment: Landlords and property management companies require a Spanish bank account for direct debit rent payments. Cash payments raise red flags and most won't accept international transfers for monthly rent.

Paying utilities: Electricity (Endesa, Iberdrola), water, gas, internet, and phone contracts all require domiciliación bancaria—automatic direct debits from a Spanish account.

Receiving your salary: Spanish employers pay into Spanish bank accounts. While technically possible to receive salary abroad, it creates tax complications and many employers simply won't do it.

Building credit history: Spain doesn't have a credit score system like the US or UK, but banks track your relationship history. A longer banking relationship helps when you eventually need a mortgage or business loan.

Using Bizum: Spain's ubiquitous instant payment system—with 30 million+ active users—requires a Spanish bank account. From splitting dinner bills to paying your physiotherapist, Bizum is how Spaniards move money—and you'll want access. Since June 2025, Bizum also works internationally with Italy, Portugal, and Andorra.

Requirements: What You Need to Open a Bank Account

Documentation requirements depend on your status. Here's the breakdown:

EU/EEA Citizens

EU nationals have the simplest path—and importantly, you have a legal right to a basic payment account. Under Real Decreto-ley 19/2017 (transposing EU Directive 2014/92/EU), Spanish banks cannot refuse basic accounts to legal EU residents. You'll typically need:

• Valid passport or national ID card
• NIE (Número de Identificación de Extranjero)
• Proof of address in Spain (utility bill, rental contract, or empadronamiento)
• Spanish phone number (for verification codes)

Can you open without NIE? Some banks allow it—see the section below on opening accounts without NIE. Note that NIE is a bank policy for AML compliance, not a legal requirement for basic accounts.

Non-EU Citizens

Non-EU residents face stricter requirements:

• Valid passport
• TIE (Tarjeta de Identidad de Extranjero) or valid visa with NIE
• Empadronamiento (padrón certificate proving your registered address)
• Proof of income or employment (some banks)
• Spanish phone number

The empadronamiento is crucial. It's your official registration with your local town hall (ayuntamiento) and proves you actually live in Spain. Get this sorted within weeks of arrival—you'll need it for everything from healthcare enrollment to bank accounts.

Non-Residents

Planning ahead before your move? Non-residents can open accounts at select banks:

• Valid passport
• Proof of address in your home country
• Tax identification number from your country
• Explanation of why you need a Spanish account

Non-resident accounts have limitations: higher fees, potential restrictions on credit products, and additional compliance requirements. But they let you receive rental income, pay Spanish bills, or prepare for your move.

The Big Four: Traditional Spanish Banks Compared

Spain's banking sector consolidated dramatically after the 2008 financial crisis. Four major banks now dominate the market, each with distinct strengths for expats.

CaixaBank

Assets: €665 billion
Branches: 5,300+ across Spain
English support: Limited (major cities only)
Monthly fee: €0 with conditions (salary deposit or €20,000+ balance)

CaixaBank, created from the merger of La Caixa and Bankia, is Spain's largest domestic bank by branch network. Their imagin sub-brand targets younger customers with a fully digital experience.

Pros:

• Largest branch network—useful for complex issues requiring in-person help
• Strong mortgage products
• Extensive ATM network (over 9,000)
• Generally lower foreign exchange fees than competitors

Cons:

• Limited English-speaking staff outside tourist areas
• App and online banking less polished than digital alternatives
• Can be bureaucratic for non-standard situations

Best for: Those who want physical branch access and plan to stay long-term, especially outside major cities.

Santander

Assets: €1.8 trillion (global)
Branches: 2,100+ in Spain
English support: Good (international team available)
Monthly fee: €0 with conditions (direct debit + card usage)

Santander is Spain's most international bank—it's actually the largest bank in the Eurozone by market cap. For expats, this global presence translates to better English support and more experience handling international customers.

Pros:

• Best option for non-residents (Cuenta No Residente requires only passport)
• Strong English support through dedicated international team
• Good integration if you have Santander accounts elsewhere
• Solid digital banking platform

Cons:

• Branch network smaller than CaixaBank
• Aggressive cross-selling of insurance and investment products
• Customer service quality varies by branch

Best for: Non-residents, expats from countries with Santander presence, those who prioritize English support.

BBVA

Assets: €775 billion
Branches: 1,800+ in Spain
English support: Moderate
Monthly fee: €0 with conditions (salary deposit ≥€800/month)

BBVA has invested heavily in digital banking and it shows. Their app consistently ranks among the best in European banking. They're particularly strong for those comfortable managing everything online.

Pros:

• Excellent mobile app and online banking
• Competitive foreign exchange rates
• Good mortgage products
• Open to working with self-employed (autónomos)

Cons:

• Fewer branches than CaixaBank
• NIE typically required
• English support inconsistent outside Madrid/Barcelona

Best for: Tech-savvy expats, self-employed workers, those prioritizing digital experience over branch access.

Sabadell

Assets: €245 billion
Branches: 1,300+ in Spain
English support: Good (especially Costa del Sol/Costa Blanca)
Monthly fee: €0 with conditions

Sabadell has carved out a niche serving expats, particularly in Andalucía and the Valencia region. Their experience with British and Northern European residents shows in their service approach.

Pros:

• Strong expat-focused services in coastal areas
• Good English-speaking staff in expat-heavy regions
• Experience with non-resident accounts
• Practical approach to documentation

Cons:

• Weaker presence in northern Spain
• Smaller ATM network
• Less competitive rates on larger transactions

Best for: Expats in Andalucía, Valencia region, Costa Blanca—especially retirees or property buyers.

Traditional Banks: Quick Comparison

• CaixaBank: €0/month (with conditions), Limited English, 5,300+ branches — Best for long-term residents, rural areas
• Santander: €0/month (with conditions), Good English, 2,100+ branches — Best for non-residents, international transfers
• BBVA: €0/month (with conditions), Moderate English, 1,800+ branches — Best for digital-first users, autónomos
• Sabadell: €0/month (with conditions), Good English (coastal), 1,300+ branches — Best for Costa del Sol/Blanca expats

"With conditions" typically means salary deposit (€600-1,000/month minimum), maintaining certain balance, or having active direct debits.

Digital Banks: Modern Alternatives

Digital-only banks have transformed expat banking in Spain. Many allow you to open an account from your home country, require minimal documentation, and charge far less for international transfers.

N26

Origin: Germany (EU banking license)
Monthly fee: €0 (Standard) / €4.90-16.90 (premium tiers)
Opening: 100% online, requires ID verification via video
Spanish IBAN: Yes

N26 is the go-to recommendation for expats arriving in Spain. You can open an account before you arrive, receive your card to a Spanish address, and have a functional IBAN ready for apartment hunting.

Pros:

• Open without NIE or Spanish address
• Full EU banking license (deposit protected up to €100,000)
• Excellent app with real-time notifications
• Competitive exchange rates for card spending abroad
• Free ATM withdrawals (limits apply)

Cons:

• No Bizum integration (major limitation in Spain)
• No cash deposits
• Customer service can be slow
• Not ideal as your only account long-term
• Will not open accounts for US persons (FATCA compliance)

Best for: First few months in Spain, travel, international spending. Plan to add a traditional bank once settled.

Wise (formerly TransferWise)

Origin: UK/Belgium (multi-currency account)
Monthly fee: €0
Opening: 100% online
Spanish IBAN: Yes (through Belgian license)

Wise is unbeatable for receiving or sending international transfers. If you're paid in USD, GBP, or other currencies, Wise's multi-currency account saves hundreds or thousands annually on conversion fees.

Pros:

• Best exchange rates available (mid-market rate)
• Hold and convert 40+ currencies
• Transparent, low fees
• Open without NIE
• Real bank details in multiple countries

Cons:

• Not technically a bank (e-money license, not full banking license)
• No Bizum
• Limited local banking features

Best for: International freelancers, remote workers paid in foreign currency, international transfers.

Revolut

Origin: UK/Lithuania (EU banking license)
Monthly fee: €0 (Standard) / €7.99-13.99 (premium)
Opening: 100% online
Spanish IBAN: Yes (Lithuanian IBAN, but works throughout EU)

Revolut offers similar functionality to Wise but with more traditional banking features on premium tiers, including insurance and airport lounge access.

Pros:

• Excellent for travel and foreign spending
• Open without NIE
• Good budgeting and analytics features
• Crypto trading built in

Cons:

• No Bizum
• Lithuanian IBAN occasionally causes issues with Spanish companies (rare but happens)
• Customer service quality inconsistent

Best for: Frequent travelers, those who want spending analytics, crypto enthusiasts.

Openbank (Santander)

Origin: Spain (Santander subsidiary)
Monthly fee: €0
Opening: Online (NIE required)
Spanish IBAN: Yes

Openbank combines digital-only convenience with traditional Spanish bank backing. Unlike N26 and Revolut, you get Bizum access.

Pros:

• Full Spanish bank functionality including Bizum
• No fees, ever
• Backed by Santander (€100,000 deposit protection)
• Good for receiving salary

Cons:

• Requires NIE
• App less polished than N26/Revolut
• Customer service limited to chat/phone

Best for: Those with NIE who want digital-only convenience plus Bizum.

imagin (CaixaBank)

Origin: Spain (CaixaBank subsidiary)
Monthly fee: €0
Opening: Online (NIE typically required)
Spanish IBAN: Yes

CaixaBank's digital brand, targeting younger customers but available to all. Full Bizum integration and access to CaixaBank's ATM network.

Pros:

• Full Bizum access
• CaixaBank ATM network (9,000+)
• No maintenance fees
• Some gamification features

Cons:

• Requires NIE
• Marketed toward young Spaniards (less expat-focused)
• Premium features less compelling than N26/Revolut

Best for: Young expats with NIE who want Bizum without branch-based banking.

Digital Banks: Quick Comparison

• N26: €0-16.90/month, No NIE required, No Bizum — Best for new arrivals, pre-move setup
• Wise: €0/month, No NIE required, No Bizum — Best for international transfers, multi-currency
• Revolut: €0-13.99/month, No NIE required, No Bizum — Best for travel, foreign spending
• Openbank: €0/month, NIE required, Has Bizum — Best for digital banking with Bizum
• imagin: €0/month, NIE required, Has Bizum — Best as CaixaBank's digital alternative

Opening a Bank Account Without NIE

Don't have your NIE yet? Several options exist:

Santander Cuenta No Residente

Santander's non-resident account requires only a passport and proof of address from your home country. You can open it in-branch, making it the best traditional bank option for those without NIE.

Process:

1. Visit any Santander branch
2. Bring passport + home country address proof
3. Explain you're a non-resident needing Spanish banking
4. Account typically opens same day

Limitations: Higher fees than resident accounts, some restrictions on credit products.

Digital Banks (N26, Wise, Revolut)

All three EU-licensed digital banks allow account opening with just a passport and video verification. Open from your home country before you arrive.

Process:

1. Download app
2. Complete identity verification (photo ID + selfie)
3. Receive virtual card immediately
4. Physical card ships to your Spanish address

Limitations: No Bizum, limited for salary reception long-term, may not satisfy all landlord requirements.

Strategy: Open Both

The practical approach is a two-step process:

1. Before arriving: Open N26 or Wise for a working Spanish IBAN
2. After NIE and empadronamiento: Open a traditional Spanish account with Bizum

This combination covers all scenarios: immediate banking needs, international transfers, and full Spanish integration once your paperwork is complete.

Understanding Spanish Banking Fees

Spanish banks love conditions. Most accounts advertise "€0/month" but read the fine print.

Common Fee Conditions

Salary domiciliation: Direct deposit of your salary (usually ≥€600-1,000/month) waives maintenance fees.

Direct debits: Having 2-3 active direct debits (phone, utilities, subscriptions) often qualifies you for free banking.

Card activity: Using your debit card regularly (e.g., 3+ transactions/month) may waive fees.

Balance requirements: Maintaining €5,000-20,000 in the account can waive fees, but this money earns little interest.

Fees to Watch

• Maintenance fees: €3-10/month if conditions aren't met
• Card fees: Some banks charge €20-50/year for debit cards (increasingly rare for basic accounts)
• Transfer fees: Domestic transfers (Bizum, SEPA) are free; international transfers may cost €15-50
• ATM fees: Using other banks' ATMs typically costs €1-2; your own bank's ATMs are free
• Foreign exchange: Spending abroad or converting currency can cost 1-3% at traditional banks; digital banks typically charge 0.3-1%

Best Practice

Ask these questions before opening:

• What conditions must I meet for no monthly fee?
• Are there any annual card fees?
• What are the fees for international transfers?
• Can I access my account fully in English online?

Bizum: Spain's Payment Revolution

Understanding Bizum is essential for daily life in Spain. It's an instant mobile payment system backed by nearly every Spanish bank—imagine if Venmo worked with everyone, everywhere.

What Bizum Does

• Instant person-to-person transfers using just a phone number
• Payment at businesses (many shops, restaurants, and services accept Bizum)
• Split bills directly within the app
• Request money from individuals or groups

How It Works

Bizum links to your Spanish bank account through your bank's app. When you send €20 to a friend, you select their phone number, and the money transfers instantly—no IBAN needed, no waiting.

Who Has Bizum

Nearly all traditional Spanish banks offer Bizum: CaixaBank, Santander, BBVA, Sabadell, plus smaller banks like Bankinter, ING Spain, Abanca, and many more.

Digital banks without Bizum: N26, Wise, Revolut (these are the major reason to have a Spanish bank account alongside a digital account)

Daily Usage

In practice, Bizum is everywhere:

• Paying your share of rent to a roommate
• Reimbursing friends for dinner
• Paying small businesses and freelancers
• Collecting money for group gifts
• Paying for private services (tutors, cleaners, etc.)

Not having Bizum marks you as the one person who "makes things difficult." Open an account with Bizum access once you have your NIE.

Step-by-Step: Opening Your Account

Before Arrival

1. Open N26 or Wise using your passport
2. Verify your identity via video call
3. Set a Spanish delivery address for your physical card (friend, Airbnb, or mailbox service)
4. Transfer funds to have euros ready upon arrival

First Weeks in Spain

1. Get your NIE (this should be priority one—see our NIE guide)
2. Register at your ayuntamiento for empadronamiento
3. Get a Spanish phone number (prepaid SIM works fine initially)

Opening Your Spanish Account

1. Choose your bank based on your priorities (see comparisons above)
2. Book an appointment online (most banks require this)
3. Bring documentation: Passport, NIE, Empadronamiento, Proof of income or employment contract (sometimes required)
4. Expect 30-60 minutes for the process
5. Receive cards within 7-10 days by post

Pro Tips

• Bring a Spanish speaker if your Spanish is limited (some branches lack English support)
• Ask about all fees upfront and get conditions in writing
• Set up online banking immediately and download the mobile app
• Link Bizum as soon as your account is active

Recommended Account Combinations

New Arrival (Pre-NIE)

• Primary: N26 (instant Spanish IBAN, no documentation)
• Transfers: Wise (international money movement)

Settled Resident

• Primary: BBVA or CaixaBank (salary, bills, Bizum)
• Secondary: Wise (international transfers, multi-currency)

Coastal Expat (Costa del Sol/Blanca)

• Primary: Sabadell (strong local support, expat-experienced)
• Secondary: N26 or Revolut (travel, international spending)

Digital Nomad

• Primary: Openbank (Spanish IBAN + Bizum, fully digital)
• International: Wise (multi-currency, foreign income)
• Travel: Revolut (spending abroad)

Frequently Asked Questions

Can I open a Spanish bank account without NIE?

Yes, but options are limited. Santander's non-resident account accepts just a passport. Digital banks N26, Wise, and Revolut also don't require NIE. However, for full banking functionality including Bizum, you'll eventually need an NIE and a traditional Spanish account.

How long does it take to open a bank account in Spain?

With all documentation ready, traditional banks typically open accounts in a single appointment (30-60 minutes). Digital banks like N26 complete verification within 24-48 hours. Receiving physical cards takes 7-14 days by post.

What is Bizum and do I need it?

Bizum is Spain's instant mobile payment system, integrated into most Spanish bank apps. While not technically required, it's used universally for splitting bills, paying friends, and many business transactions. You'll want access within your first month.

Which bank is best for expats in Spain?

For non-residents or new arrivals: Santander (non-resident account) or N26 (digital). For settled expats: BBVA or CaixaBank offer the best combination of digital features and branch support. For coastal expats: Sabadell has strong English-speaking service in tourist regions.

Are my deposits protected in Spanish banks?

Yes. Spanish banks are covered by the Spanish Deposit Guarantee Fund (FGD), protecting deposits up to €100,000 per depositor, per bank. EU-licensed digital banks like N26 have similar protection through their home country schemes.

Can I get a mortgage with a Spanish bank account?

Yes, once you have established banking history. Banks typically want to see 6-12 months of salary deposits and responsible account management. Mortgages for non-residents are available but require larger deposits (typically 30-40% vs. 20% for residents).

Do I need to pay taxes on a Spanish bank account?

Having a Spanish bank account doesn't itself create tax obligations. However, if you're tax resident in Spain (spending 183+ days per year), you must declare worldwide income. If you're tax resident elsewhere, you may need to declare Spanish accounts to your home tax authority. Consult a tax professional for your specific situation.

What happens to my account if I leave Spain?

You can maintain a Spanish account as a non-resident, though some banks may reclassify it (with potential fee changes). For short departures, keep the account active. For permanent moves, close the account formally to avoid ongoing fees and reporting requirements.

Next Steps

Opening a bank account is just one part of settling into Spanish life. Once you have your banking sorted, you'll want to tackle:

• Getting Your NIE — Essential for banking, working, and property purchases
• Understanding the Cost of Living — Budget realistically for your new life
• Spanish Healthcare System — Public and private options for residents
• Finding an Apartment — Navigate the Spanish rental market

Last updated: February 2026. Banking products and requirements change frequently. Verify current terms directly with banks before opening accounts.