Are you moving to Spain but are unsure what the best Spanish bank is for you? Are you wondering how to open a bank account in general, especially as a non-resident? Opening a bank account in Spain might seem complicated but we promise you it is not that much of a hassle.
When it comes to opening a bank account in Spain there are several great options available to you but it is not so easy to actually find them.
This comprehensive article was created as a guide to banking in Spain with the goal of helping you choose the best bank in Spain that meets your expectations and preferences. In this article we will not only cover all the important aspects behind opening a Spanish bank account as a non-resident, but also our top recommended banks, international money transfers, money saving tips and more.
So please continue reading to learn everything there is to know!
Table Of Contents
- 1. Things to Keep in Mind Before Choosing a Spanish Bank
- 2. How to Open a Bank Account in Spain as a Non-Resident
- 3. Best Banks in Spain for Non-Residents & Best Options for International Students & Expats
- 4. Bank Fees & ATM withdrawals in Spain & Europe
- 5. International Money Transfers – Don’t Waste your Money
- 6. Lost or Stolen Bank Cards in Spain – What to do
- 7. Online Banking Form for Quick & Easy Application with Banco Sabadell
- 8. FAQs
1. Things to Keep in Mind Before Choosing a Spanish Bank
Before we talk about which banks are the best for you and how to actually open a bank account in Spain, there are a few things you should consider about banking in Spain in general. With this information you can move forward with the right objective in mind and make a well informed decision.
Deciding if you Truly Need a Spanish Bank Account
If this is your first time living in Spain for a longer period of time, the first question you need to ask yourself is if you really need to open a Spanish bank account. If you are coming to work, then you will definitely need one to receive your salary. However, if you are an international student who is only staying for a few months you might not necessarily need one. That being said, Non-EU citizens will always save costs by opening a Spanish bank account, as they won’t have to deal with all the fees that come with using a foreign card abroad.
Avoiding Unnecessary Costs Associated to your Spanish Bank Account
Nothing is worse than losing money to the bank that is keeping your money safe. That’s why it’s important to be aware of all potential fees you might incur when comparing your banking options. To help you save time on this topic, we’ve ensured to base our recommendations on our years of experience as well as on the feedback from thousands of young internationals that we’ve welcomed to the city over the years.
If you’re not careful, costs related to your bank account can quickly accumulate, especially as some things here in Spain work differently from what you’re used to back home. This puts even more pressure on your search for the right bank. Luckily, with our top recommendations we hope to contribute our share so that you will skip annoying “hidden costs” like monthly maintenance fees, ATM charges and costs related to international bank transfers, especially to outside the European Union.
Tip 1
When you open a bank account in Spain, you will most likely receive both a debit and a credit card. You can use these cards to withdraw money from your bank’s ATM machines for free. However, remember it is likely that you will be charged a fee to withdraw money at ATMs from other banks in Spain and Europe. Wise, bunq & Revolut are 3 amazing online banks that offer free, limited withdrawals – even from abroad. In addition to an easy sign-up process online, cheap international money transfers, international debit card that you can use worldwide with minimal fees and much more.
Tip 2
Standard bank transfers within the European Union (EU) are always free of charge, but bank transfers to/from outside the EU are very costly and can be avoided by using money transfer services like Wise, bunq and Revolut, which uses Wise’s transfer technology.
Wise has become a very popular and cheap option for transferring money between bank accounts to/from Spain. But also bunq and Revolut are great options. Skip ahead to read more about international money transfers.
2. How to Open a Bank Account in Spain as a Non-Resident
You can open a bank account with most banks in Spain once you arrive in the country, but not before. If you do not have your foreigner’s ID card (NIE/TIE) at the time of your application for the account, then you will need to open your bank account as a non-resident. This is not a problem with our three top recommended banks (see below), so do not worry. Just remember that you should switch your non-resident bank account to a resident bank account once you do have your NIE/TIE. The process is very easy, all you need to do is present your NIE/TIE card to your bank. If you do not have to apply for a NIE/TIE – perhaps because you are staying less than 6 months – then simply make sure to cancel your bank account before leaving Spain at the end of your stay.
To jump straight to our three top recommended Spanish banks to open an account with, click the button below.
What Documents do you Typically Need to Open a Spanish Bank Account?
When opening your bank account in Spain you will need the following documents/information*:
- A valid passport or national identity card
- Your reason for opening an account (documentation is not always required but it is recommended to bring, for example, the letter of acceptance of your university in Spain or a copy of your Spanish work contract)
- Indication of your address in Spain. If you do not have a Spanish address just yet, you will be able to hand in this information later on. Some banks will also ask for your TIN, so it might make sense to have it at hand too
- To open a bank account as a resident, you will need your NIE/TIE number at hand
*Please note, the list above might vary depending on the bank you choose. Some nationalities will be asked to deliver more documentation than others according to the laws here in Spain.
Please keep in mind that opening a bank account in Spain with traditional banks will require you, in most cases, to physically visit the bank to sign a contract. Your bank account will be not be officially opened nor your cards sent to you until you sign the contract. This process can be quite slow in comparison to other countries. While your bank account will become active right away, you cards may need between 1 to 2 weeks to be delivered.
Opening a Bank Account at an Online Bank in Spain
While traditional banks with physical locations are still the most popular form of banking, online banking in Spain is quickly becoming a very popular choice for managing funds. Online banks tend to offer many of their services for free or at a very low cost. This in addition to the ease of managing everything online make them a very desirable option – especially for young internationals. However, to open a Spanish bank account with an online bank, you will also need to wait till you arrive to Spain! Our top recommendations are Wise, bunq and Revolut. All three can actually get you a proper Spanish IBAN (account number) if you have your NIE/TIE or a Spanish ID. Click the links to learn more about Wise, bunq and Revolut.
3. Best Banks in Spain for Non-Residents & Best Options for International Students & Expats
Below you will find an extensive outline of our research on the best banks for expats and international students in Spain for 2025. The Spanish banking system is fully integrated with the international financial market and there are a variety of banks to choose from – like private, state-owned banks as well as international and online banks. These banks are regulated by the central banking authority here in Spain, also known as the Banco de España, which is located right in the center Madrid.
To help you select the bank that is best for you, simply keep reading. The summary below will help you choose the best bank account that meets your needs.
Important: The Citylife team has collected & compiled the information on this page via intense research and investigation. It does not replace your own research!
Our top recommendations are based on the following criteria that we believe are essential to young internationals:
- Low to zero fees
- Convenience
- Free money withdrawal
- Free money transfers
- High service quality
- Internationality
Citylife’s Top Picks for Best Banks in Spain 2025
Every year at Citylife we speak to different banks around the city to learn about potential new services and updates. Based on these talks and our yearly survey, we have selected the three best banks that we feel will benefit our community the most and work closely with them throughout the year. Our focus lies on an easy opening process, the lowest costs, great user experience as well as good service quality and service in different languages. We usually select a traditional bank as well as a modern online bank.
Our three favourite banks in Spain for 2025 are: Banco Sabadell (traditional bank account), Wise, bunq and Revolut.
Banco Sabadell
Top traditional bank in Spain for internationals
- Free transfers within the EU
- Free ATM withdrawals in Spain
- Service in Spanish & English
- Free debit/credit card with application
- Easy & quick process to open an account without NIE/TIE
- Reliable and modern online service
- Free account if you are under 30 years of age
- Several different accounts to choose from
- Very known bank with great reputation
Wise
The world’s most dynamic international bank
- Worldwide transfers at low exchange rates
- Free ATM withdrawals of up to 200€/month
- Free debit card with application
- Service in over 10 languages
- International transfers to over 30 countries at real exchange rates (no bank fees)
- No physical location
- Access to local bank details in over 10 currencies (USD, CAD, EUR, GBP & more)
- Open multiple balances for different currencies within one account
bunq
International Student Bank in Spain
- Spanish IBAN with account
- Free transfer within EU and worldwide transfers at low rates
- 6 Free ATM withdrawals every month
- No NIE/TIE required for the first 90 days
- Service in over 35 languages
- High interest on savings
- No physical location
- Built in expense manager & budget support
- Great exchange rates
Revolut
Popular online bank in Spain
- Free transfers around Europe, America and Australia
- Free ATM withdrawals of up to 200€/month
- Free debit card with application
- Service in Spanish & English
- Integrated Interbank Exchange Rates for international transfers
- No physical location
- Built in expense manager & budget support
- Access to cryptocurrency
- Single use cards
N26
Completely virtual international Bank
- Spanish IBAN with account
- Free transfer within EU and worldwide transfers at low rates
- 3 Free ATM withdrawals every month
- Free virtual Mastercard debit card (Google/Apple wallets)
- Service in over 10 languages
- Integrated Wise transfer technology within app
- No physical location
- Built in expense manager & budget support
- Several different accounts to choose from
