How to Open a Spanish Bank Account >> Easy 2025 Expat Guide

We finally have some good news when it comes to Spanish red tape. Opening a bank account as an Expat can be pretty straightforward. We’ve recently opened an online bank account, which was painless. Through speaking with friends and clients, traditional Spanish banks have also improved their processes. For residents and non-residents, follow our guide on opening a Spanish bank account, and you’ll understand the requirements, documentation, and steps, with tips tailored for Expats!

Step-by-Step Guide: How to Open a Bank Account in Spain

Step 1 >> Use our article Best Banks for Expats in Spain to choose the right bank for your needs.

	Traditional Banks	Online Banks
Step 2 >>	Make an appointment in the branch or online.	Download the app or visit the website.
Step 3 >>	Gather physical documents and make copies if the bank needs to keep anything for their records.	Scan copies to upload for the application.
Step 4 >>	Attend your appointment and fill in the paperwork they give you	Follow the e-verification process.

Step 5 >> Wait for your account to be verified. This shouldn’t take more than two days. You’ll also receive your bank card in the mail within a week. In the meantime, you can use your account and app functions immediately.

Step 6 >> Follow the instructions that come with the card to activate it to complete this process.

Our Experience Opening Bank Accounts in Spain

• Online Bank: Opening our Revolut account took about 15 minutes from start to finish, including installing the app. There was no application fee for the account or debit card, and the cards arrived in the post six days after our application.
• Traditional Bank: For our Sabadell account, we made an appointment in the branch and completed the paperwork for our resident account. The process took around 30 minutes, and the bank representative spoke perfect English. We had to return to collect the cards, but subsequent cards were sent to us by post. We did need to go to the branch to replace our Via-T. Note: This was some time ago, and the process now looks more streamlined.

We checked the websites of two of our Top Banks in Spain for Expats, and here is their 100% online signup process for an online account.

Open an Account with N26

Sabadell Online Account

This Sabadell account offers a free debit and credit card option.

Documents You Need to Open a Spanish Bank Account

Documents Required to Open a Resident Bank Account in Spain

Primary Identification	Valid passport or national ID card
NIE Number	Número de Identidad de Extranjero (see ‘Banks That Don’t Require and NIE‘)
Proof of Residence	Rental contract, utility bill (within 3 months), “empadronamiento”
Financial Documentation	Employment contract or proof of income, tax ID from home country

Documents Required to Open a Non-Resident Bank Account in Spain

Document	Examples
Primary Identification	Valid passport or national ID (or EU Registration Certificate for EU citizens)
Proof of Address	Recent utility bill or bank statement from home country
Certificate of Non-Residency	Certificado de no residencia (obtainable from a local police station)
Proof of Income	Employment contract, tax documentation, or proof of funds

The proliferation of online banks means the process is generally getting simpler and faster. Check for online-only options to avoid getting physical copies of documents and visiting a bank branch.

Banks That Don’t Require an NIE

Online Banks:

• N26: Standard current account with passport and Spanish address only, 100% online process
• Revolut: Multi-currency account via mobile app with passport requirement
• Wise: Multi-currency account (not technically a bank) – typically requires passport and address proof, though specific NIE requirements unclear

Traditional Banks:

• Banco Santander: Non-resident account (“Cuenta Online con Pasaporte”) for foreigners/Spanish citizens abroad, available to residents of specific countries (US, UK, Germany, France, etc.)
• BBVA, Sabadell, CaixaBank: Some branches may open basic accounts with passport initially

Key Limitations: Most traditional banks expect you to provide NIE within 3-6 months – it’s often a temporary solution. Accounts without NIE typically have restricted services, limited credit products, and potentially higher fees. You’ll still need proof of Spanish address (rental contract, utility bills).

Best Option: Digital services like N26, Revolut, and Wise offer the most reliable NIE-free banking alternatives, though they operate differently from traditional Spanish banks. Getting your NIE remains the priority for accessing better banking options and terms.

Documentation Translations and Certification

Spanish traditional banks sometimes require official translations and certification of supporting documentation. Check with your branch to find out precisely what is required before you start the process. Online banks will accept English (and often other languages) documentation.

AML, KYC, and FATCA Compliance Requirements

Anti-money laundering (AML) and know-your-customer (KYC) regulations mean banks require additional identification and residency evidence. US citizens face unique additional requirements due to FATCA reporting obligations.

FATCA Compliance for US Citizens

FATCA (Foreign Account Tax Compliance Act) requires Spanish banks to report US citizen account information to the IRS. This creates significant challenges: some Spanish banks avoid US customers entirely, while others impose higher maintenance fees (€50-200 annually) to cover FATCA compliance costs.

US-Friendly Banks

Best Options:

• Banco Santander: Most experience with US citizens and FATCA compliance
• BBVA: Accepts Americans but may require higher minimum balances
• N26 & Revolut: Digital banks with streamlined FATCA processes and lower fees
  (Note: N26 requires US citizens to be resident in Spain to open an account)

Tips for US Citizens

Be upfront about your citizenship – hiding your US status leads to account closures. Prepare extra documentation including Social Security Number and IRS tax forms. Budget for higher fees and consider digital banks first for easier processes.

Research before visiting – call ahead to confirm banks accept US citizens and ask about specific requirements to avoid wasting time.

Your US Reporting Obligations

Opening a Spanish bank account triggers US reporting requirements: FBAR (FinCEN Form 114) if accounts exceed $10,000, and Form 8938 (FATCA) if foreign assets exceed $200,000 for Expats. Non-compliance results in severe penalties.

Should I Open a Resident or Non-Resident Bank Account?

Accounts with resident status tend to be flexible and have more benefits. If you are not planning on living permanently in Spain, a non-resident bank account will be easier to open.

You may be able to open a non-resident account and then switch it once you get residency. You may have to make an appointment at your local branch and show proof of residency. This is exactly the process I went through with Santander.

Note: EU /EEA citizens with residency in Spain will have the same requirements.

Resident Bank Account

1. Eligibility: A resident bank account is for individuals who live in Spain for more than 183 days a year or have their fiscal/tax residence there.
2. Purpose: Suitable if you work, live, or study in Spain long-term.
3. Features:
   • Access a broader range of banking products, including mortgages, loans, and various investment options.
   • Generally, there are lower fees and better interest rates than non-resident accounts.
   • You can link it to direct debits for paying bills, receiving salaries, and more.
4. Taxation: Account holders are subject to Spanish tax regulations, including declaring global income if Spain is their fiscal residence. If you are a tax resident in Spain, you’ll include this information in your income tax declaration, which is called La Renta.

Non-Resident Bank Account

1. Eligibility: Non-resident bank accounts are for individuals not fiscal/tax residents in Spain.
2. Purpose: Ideal for those owning property or having business interests in Spain.
3. Features:
   • They often have both euro and foreign currency capabilities.
   • They might have higher fees and charges compared to resident accounts.
   • Accounts are limited in terms of credit facilities and investment options.
4. Taxation: Interest earned on these accounts may be subject to Spanish withholding tax. See our guide to personal income tax in Spain to learn more.

How to Open a Spanish Bank Account as an International Student

Student bank accounts offer reduced fees and specialized benefits for international students studying in Spain.

Requirements and Benefits

You’ll need a student visa or residence card, passport, NIE number, and proof of enrollment at a Spanish university. Student accounts typically offer waived maintenance fees, free debit cards, lower minimum balances, and installment payment options for tuition. Many include multilingual customer support and enhanced mobile banking with budget tracking tools.

Best Options

Santander, BBVA, CaixaBank, and Banco Sabadell offer dedicated student accounts, with many having campus branches for convenience. Online banks like N26, Wise, and Revolut are popular for their English interfaces and low international transaction fees.

Key Tips

Apply early in your program and ask about university partnerships for additional benefits. Student benefits typically expire at graduation or age 26, so plan your transition to standard accounts accordingly.

Fees and Cost of Opening a Bank Account in Spain

READ ALSO: The Best Ways to Transfer Money to Spain >> Cheap. Fast. Safe.

Another factor to consider when choosing the right bank is the fees involved. The amount will depend on the bank and what type of accounts they offer.

Here are two examples from banks that we recommend to Expats in Spain.

N26 account types and fees:

Fee Type	N26 Standard	N26 Smart	N26 Go
Monthly Fee	€0	€4.90	€9.90
Number of Free Euro ATM Withdrawals (€2/withdrawal after free ones used)	2/month	3/month	5/month
Foreign Currency ATM Fee	1.70%	1.70%	FREE
Cash Deposits	1.70%	1.70%	1.70%

Sabadell’s account types and maintenance fees are:

Account Type	Quarterly Fees	How to Avoid Fees
Online	€0	Always free
No conditions	€60	Not possible
Basic Tier	€20	Salary/pension €700+ AND (2 direct debits OR 1 insurance)
Medium Tier	€10	2 insurances OR investments €10,000+
Full waiver	€0	Age 18-29 OR investments €25,000+ OR mortgage+insurance OR 3 insurances

Note: There are no account opening fees.

And Sabadell’s ATM withdrawal fees:

ATM Location	Debit Card	Credit Card
Banco Sabadell ATMS	€0	4% (min €3)
Other Spanish ATMs	ATM fee	ATM fee + 4% (min €3)
Foreign ATMs	ATM fee + 4.5% (min €4)	ATM fee + 5% (min. €4)

Note: ATM fee charged by the ATM Owner.

Ways to Minimize Fees:

Fee Type	Description	Ways to Minimize Fees
Account Maintenance	Many online banks have lower fees than traditional ones.	– Choose a no-fee account. – Maintain the minimum balance required to waive fees. – Consider banks offering discounts or waivers for direct debit bill payments.
Digital and Online Bank Options	Many digital banks have lower fees than traditional ones.	– Explore online banks and accounts that offer free or low-cost essential services and transfers.
ATM Withdrawals	Fees for out-of-network ATMs are typically €1.80 – €2.50 per transaction.	– Use ATMs within your bank’s network to avoid extra charges. – Consider banks offering discounts or waivers for direct debit bill payments.
Paper Statement Fee	There may be a fee for receiving paper statements instead of digital ones.	– Opt for online (electronic) statements, which are often free.
International Transfer Fees	Charges for currency conversion and sending money abroad.	– Consider online transfer services like N26, Wise, or Revolut, which may offer lower rates.
Debit/Credit Card Fees	Annual fees for debit or credit cards, along with replacement fees.	– Some accounts offer fee-free cards; inquire about them during account opening. – Use credit card providers with lower annual fees.
Direct Debit Setup Fees	Fees for setting up automatic bill payments.	– Some banks waive fees if you set up regular direct debits. – Inquire about fee reductions or discounts for direct debits on essential payments.
Currency Exchange Fees	Charges for transactions in a foreign currency.	– Consider online transfer services like N26, Wise, or Revolut, which may offer lower rates. – Consider using multicurrency accounts if you regularly transact in other currencies.
Transparency of Fee Structure	– Choose banks with clear, transparent fee structures so you know about potential costs upfront.	– Choose banks with clear, transparent fee structures so you’re aware of potential costs upfront.
Online Bank Options	– Choose banks with clear, transparent fee structures so you know about potential costs upfront.	Many online banks have lower fees than traditional ones.

Types of Spanish Bank Account

Account Name	Description
Current/Checking Account (Cuenta corriente)	A standard transactional account for everyday banking needs, allowing unlimited deposits and withdrawals. Interest rates are typically low or zero, but you have complete flexibility to access your money at any time for daily expenses, bill payments, and transfers.
Savings Account (Cuenta de ahorro)	Specific savings accounts can offer higher interest rates than a standard account. However, interest rates are often still pretty low, and you may have restricted access to your savings.
Deposit account (Cuenta de depósito)	A deposit account will give you a higher interest rate than a savings account. However, your money is held for extended periods, giving even less flexibility than savings. You’ll often be required to have a minimum income with a deposit account.

Banks can also provide you with:

• Mortgages (cuenta hipoteca)
• Fixed Deposits (cuentas de depósitos a plazo fijo)
• Credit Cards (cuenta de tarjeta de crédito)
• Investment Options (cuenta de fondos de inversión)
• Salary Accounts (cuenta nómina)
• Student Accounts (cuenta de estudiante) for those under the age of 26

The Main Banks in Spain

Check out our guide to the best banks in Spain for Expats. We’ve broken down the pros and cons of 8 major banks to help you choose the perfect banking partner. We feature N26, Bunq, Revolut, Banco Sabadell, Banco Santander, ING, Wise, and BankInter. The article also covers the things you need to know to select a bank in Spain.

Ready to Open Your Spanish Bank Account?

Once you break down the process of opening a Spanish bank account, it’s not so scary. You’ll find your experience to be similar, if not the same, as the experience you had when opening an account in your own country. The paperwork is different, but everything else will be familiar to you.

But don’t forget, if you feel more comfortable not going through this process alone, you can take someone with you. If you need a friend for support or a translator to help with any questions, they can attend your appointment. Now you know how to open a Spanish bank account, which one will you choose?

FAQ – How to Open a Spanish Bank Account