Why You Need a Spanish Bank Account

A Spanish bank account with a local IBAN (starting with ES) is essential for daily life in Spain. You will need one to:

• Pay rent: Most landlords require direct debit (domiciliacion) from a Spanish account.
• Set up utilities: Electricity, water, gas, and internet providers require a Spanish IBAN for billing.
• Receive your salary: Spanish employers pay into local bank accounts.
• Pay taxes: Tax payments (IRPF, IVA, Social Security) are linked to Spanish accounts.
• Get a mortgage: If you plan to buy property, you will need a local banking relationship.

Without a Spanish IBAN, even basic tasks like signing a phone contract become unnecessarily complicated.

Non-Resident vs. Resident Accounts

Spanish banks offer two types of accounts based on your residency status:

Non-resident account (Cuenta de no residente): Available to anyone with a passport. Limited functionality — some banks restrict direct debits or online banking features. Higher fees are common. Useful as a first step before obtaining your NIE and TIE.

Resident account (Cuenta de residente): Full-featured account requiring your NIE (Numero de Identidad de Extranjero) and proof of address in Spain. Lower fees, full access to all banking services, and necessary for tax obligations.

Digital-First Options

N26

The Berlin-based neobank is the most popular first account for expats in Spain.

• Open with: Passport or national ID only — no NIE, no Spanish address needed.
• Spanish IBAN: Yes, you get an ES-prefixed IBAN.
• Fees: Free standard account; Smart (EUR 4.90/month), You (EUR 9.90/month), Metal (EUR 16.90/month) for extras.
• Pros: Fast setup (10 minutes via app), no paperwork, works for rent and direct debits, Apple/Google Pay support.
• Cons: No physical branches, limited cash deposit options, customer support can be slow.

Revolut

A strong multi-currency option, especially useful for expats who still receive income in GBP, USD, or other currencies.

• Open with: Passport, selfie verification.
• Spanish IBAN: Yes, available once you set Spain as your country of residence.
• Fees: Free standard plan; Plus (EUR 3.99/month), Premium (EUR 7.99/month), Metal (EUR 13.99/month).
• Pros: Excellent exchange rates, multi-currency wallets, crypto trading, budgeting tools, instant transfers between Revolut users.
• Cons: Customer support primarily through chat, occasional account freezes for compliance checks.

Wise (formerly TransferWise)

Best for international transfers rather than as a primary bank account.

• Open with: Passport and address proof (any country).
• Spanish IBAN: Yes, through the Wise multi-currency account.
• Fees: No monthly fee, low conversion fees (0.35%-1% depending on currency pair).
• Pros: Best exchange rates for international transfers, transparent fee structure, multi-currency balances.
• Cons: Not ideal as a sole bank account — limited direct debit support, no branch access, some Spanish companies do not accept Wise IBANs.

Traditional Spanish Banks

BBVA

The best traditional bank option for expats, with a genuinely good digital experience.

• Requirements: Passport, NIE, proof of address (utility bill or rental contract), proof of income or employment contract.
• Fees: Free Cuenta Online if you direct deposit salary (EUR 800+/month); otherwise EUR 6/month.
• Pros: Excellent mobile app available in English, extensive ATM network, online account opening possible with NIE, strong integration with tax and utility systems.
• Cons: In-branch staff rarely speak English outside major cities.

Sabadell

Known for good English-language support, especially at branches in expat-heavy areas.

• Requirements: Passport, NIE, proof of address, proof of income.
• Fees: Free with direct salary deposit; otherwise around EUR 5-8/month depending on the plan.
• Pros: Dedicated expat services in some branches, English-speaking support, competitive mortgage rates.
• Cons: Smaller ATM network than BBVA or CaixaBank, app is less polished.

CaixaBank

Spain’s largest bank by branch network — practical if you live outside major cities.

• Requirements: Passport, NIE, proof of address, proof of income or empadronamiento.
• Fees: Free with payroll deposit; otherwise EUR 6-10/month.
• Pros: Most branches of any Spanish bank (over 4,000), CaixaBankNow app, good for mortgages and loans.
• Cons: Limited English support, in-branch experience can be bureaucratic, app is functional but not modern.

Comparison Table

Bank	Monthly Fee	NIE Required	English Support	Best For
N26	Free - EUR 16.90	No	Yes (app)	First account, quick setup
Revolut	Free - EUR 13.99	No	Yes (app)	Multi-currency, international
Wise	Free	No	Yes (app)	International transfers
BBVA	Free - EUR 6	Yes	App only	Primary Spanish account
Sabadell	Free - EUR 8	Yes	Branch + app	Expat-focused support
CaixaBank	Free - EUR 10	Yes	Limited	Wide branch network

Tips for Getting Approved

Apply online first. BBVA allows full online account opening with a valid NIE. This avoids the in-branch language barrier and the need for an appointment.

Bring everything to the branch. If you go in person, bring your passport, NIE, proof of address (empadronamiento or rental contract), and proof of income (employment contract, payslips, or bank statements). Missing any document means a return trip.

Start with a digital bank. If you are newly arrived and waiting for your NIE, open an N26 or Revolut account immediately. You can use it for rent deposits and initial expenses while you set up a traditional account.

Avoid opening day frustrations. Spanish bank branches are typically open 8:30-14:00 Monday to Friday. Many now require appointments (cita previa). Arrive early and be patient — the process usually takes 30-60 minutes.

Common Rejection Reasons

• Missing NIE: Traditional banks require it. Use a digital bank while you wait.
• No proof of income: Some branches reject applications without an employment contract or payslips. Bring 3 months of bank statements from your home country as an alternative.
• Non-standard employment: Freelancers and remote workers sometimes face extra scrutiny. A letter from your employer or client, translated into Spanish, can help.
• Address mismatch: Your proof of address should match the city where you are opening the account. A rental contract is the strongest document.