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Opening a bank account in Spain: complete practical guide

Opening a bank account in Spain: complete practical guide

Ouvrir un compte bancaire en Espagne : guide pratique complet

Opening a bank account in Spain: complete practical guide

Introduction

When you decide to buy a property in Spain or live there for part of the year, opening a Spanish bank account quickly becomes essential. It simplifies your payments, settles your expenses and gives you access to local financial services. This guide details all the steps involved, the documents you'll need and advice on how to make the process a success.

1. Why open a bank account in Spain?

Even if you already have a bank account in your country of origin, a bank account in Spain will be useful, or even compulsory, in a number of situations:
- To pay the costs associated with your property purchase (notary, taxes, etc.).
- To pay your local bills (water, electricity, gas, internet).
- To collect rental income if you rent out your property.
- To facilitate transfers with Spanish banks. Facilitate transfers with Spanish institutions.

In practice, banks often require you to have a local account in order to make certain payments, particularly as part of a mortgage.

2. The different types of account

There are two main categories of bank account in Spain:

- Residents' account: intended for people who live in Spain for more than 183 days a year. It gives access to full banking services.

- Non-resident account: designed for foreigners who do not live permanently in Spain. It is generally sufficient to manage a property or to stay in Spain on a regular basis. The bank will ask you for a non-resident certificate issued by the national police.

3. Documents required

To open a bank account in Spain, banks generally require:
- A valid passport or identity card.
- The NIE (Identification Number for Foreigners).
- Proof of address (recent utility bill or rental contract).
- Proof of income (payslip, tax return, bank statements).

Some banks may ask for documents translated into Spanish and certified as true.

4. Opening procedure

The procedure is relatively simple:

1. Make an appointment at a bank branch or open your account online (possible at some international banks).
2. Provide all the required documents.
3. Sign the opening contract and make your first deposit (often between €100 and €500).
4. The bank will give you your means of payment: bank card and online access.

Most accounts are opened within a few days, provided the application is complete.

5. Bank charges

Bank charges in Spain can vary widely from one bank to another:
- Account maintenance charges (up to €200 a year at some banks).
- Bank card charges (between €30 and €60 a year).
- Fees for international transfers (except SEPA zone).

To reduce these charges, compare offers and choose online banks or banks that offer packages for non-residents.

6. The most popular banks in Spain

Here are some of the main Spanish banks popular with foreigners:

  • CaixaBank: special offer for non-residents.
  • Banco Santander: extensive network and services for expatriates.
  • BBVA: intuitive digital interface.
  • Sabadell: dedicated services for foreign investors.

    Some international banks, such as ING and Deutsche Bank, also have a presence in the country, making the process easier.

7. Practical advice

Before opening an account, bear the following points in mind:
- Check whether the bank offers customer service in French or English.
- Ask for an international bank card if you travel frequently.
- Choose a bank with a good mobile application.
- If you are buying a property, find out about partnerships between banks and estate agents to obtain advantageous terms.

Conclusion

Opening a bank account in Spain is an essential step for any foreign buyer. It simplifies the management of your finances, secures your transactions and ensures that you are in good standing with local institutions. By choosing the right bank and preparing your documents carefully, you can save time and avoid unpleasant surprises. This simple but essential step will contribute to the success of your property project in Spain.

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FAQ - Opening a bank account in Spain

All the answers you need to open a bank account in Spain

To open a bank account in Spain, you usually need to provide valid identification (passport or identity card), proof of address and, in some cases, a tax identification number (NIE for non-residents).

Yes, non-residents can open a Spanish bank account, but some banks require an NIE and proof of residence abroad.

Online banks such as N26, Revolut and certain Spanish banks (BBVA, Santander) offer non-resident accounts with low charges and 100% online procedures.

You need to choose a bank that accepts non-residents, and provide your passport, proof of address and sometimes an EIN. Some banks also allow you to open a bank account online.

Yes, BBVA offers accounts for non-residents, with online access and an international bank card. An NIE is generally required.

To open an account with most Spanish banks, French nationals must provide proof of identity and residence in France, and obtain an NIE.

Yes, some Spanish banks and online banks offer fully online account opening, with electronic signatures and scanned documents.

Yes, many banks offer student accounts with reduced fees, free cards and services tailored to the needs of young people.

The most popular online banks include N26, ING Spain, Openbank and BBVA online. They often offer low fees and simple management via mobile.

Some banks offer no-fee accounts for non-residents, but you should check the conditions, as charges may apply for international cards or transfers.

Passport or identity card, proof of address, NIE (for non-residents), and sometimes proof of income or professional activity.

Depending on the bank, it can take from a few days (for online banks) to 1-2 weeks for traditional banks, which require a face-to-face appointment.

Yes, most banks offer online access or access via a mobile application, enabling you to check your balance, make transfers and pay your bills from abroad.

Facilitates the purchase of property, the receipt of rental income, local payments and access to financial services tailored to residents and non-residents.

Yes, you can have several accounts with the same bank or with different banks, depending on your personal or professional needs.

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