Opening a bank account in Spain as a foreigner can be challenging if you are a tourist. However, if you plan to legalize your stay by applying for a residence permit (of which there are over 10 types in Spain), once you have your residency documents, opening an account should not be a problem.
Can you open a bank account in Spain before obtaining a residence permit?
In Spain, there are two types of bank accounts:
- Resident account (for people living in Spain)
- Non-resident account (for people living abroad)
A resident account offers more features, while a non-resident account is less functional but has fewer requirements to open.
When opening an account, you can choose from the following types:
- Cuenta bancaria or Cuenta corriente (current account) – a standard account for daily expenses, such as grocery shopping or dining out.
- Cuenta de ahorros (savings account) – used to store savings and earn interest.
- Cuenta nómina (payroll account) – for receiving salaries from employers.
- Cuenta de depósito (deposit account) – similar to a savings account but with more restrictions on withdrawals; for storing funds securely.
Documents required for a resident account:
- Valid ID (e.g., passport)
- Valid Spanish address (proof of residence registration)
- Your NIE (Número de Identificación de Extranjero) as proof of official registration in Spain
- Proof of employment or student status
- Documents not in Spanish must be officially translated by a sworn translator
Note: Spanish bank branches usually work from 09:00 to 14:00, Monday to Saturday. Many do not have English-speaking staff, so bringing a Spanish-speaking companion or learning basic Spanish is advisable.
Opening a non-resident bank account
This is relatively straightforward but requires specific documents and steps. Not all banks offer non-resident accounts, but major institutions like Santander, BBVA, and Banco de Sabadell do.
Documents required for a non-resident account:
- Valid passport
- Proof of address (e.g., recent utility bill or bank statement). If you cannot provide a Spanish address, you may need a non-resident certificate.
- Proof of income (e.g., pay slips, tax returns, or an employer’s letter)
- Proof of non-resident status (a letter from the police station or immigration office confirming your status)
If you are abroad, you can request a non-resident certificate from the Spanish consulate in your country. It takes about one week to issue and is valid for three months.
Which banks in Spain can you open an account with if you have residency?
With a residence permit, you can open accounts in standard banks such as BBVA, Santander, Abanca, Bankinter, Caixa, ING, and Sabadell. There are also fintech solutions integrating banking with accounting and tax services for businesses.
Example: Qonto Cuenta Essential para empresas
- Monthly fee: €29 (first month free)
- Up to 100 free SEPA transfers per month
- Batch transfers and international payments (1% fee)
- Automated accounting, real-time payment notifications, role-based access for up to 5 users
- Digital receipt storage with Spanish VAT recognition
- Funds guaranteed in France up to €100,000 (Crédit Agricole S.A.)
Can you open a Spanish bank account online?
Short answer: Yes, if you have Spanish residency.
If not, citizens of Russia or Belarus may find it easier to open accounts remotely in Kazakhstan, Tajikistan, or Turkey.
Steps to open a Spanish account online:
- Visit the bank’s website
- Fill out the online application
- Upload required documents
- Agree to terms and conditions
- Receive confirmation and activate your account
Many banks allow remote opening, which takes about 10 minutes. Some also offer video verification (e.g., BBVA). If there are language barriers, request an English-speaking representative.
Popular neobanks: Revolut, Wise, N26, Bunq – lower risk of refusal and convenient onboarding.
Online business account options:
N26 Cuenta Business Smart (for freelancers):
- Monthly fee: €4.90
- Free SEPA transfers, international transfers via Transferwise
- Mastercard debit with 0.1% cashback
- 5 free ATM withdrawals in the eurozone (1.7% fee outside)
- Up to 10 sub-accounts, CSV/PDF transaction history
- 7-day in-app support
Revolut Business (SME and corporate plans):
- Free plan and paid plans starting from €25/month
- Free local and international transfers
- Prepaid debit cards
- Open API for integrations and automation
- Multi-currency payments in 29 currencies at reduced fees
Expense management tools:
- Soldo – prepaid cards for employee expenses
- Payhawk – corporate cards with automated invoice collection
Tips for opening a bank account in Spain:
- Apply to several banks at once after getting residency, in case some reject you
- Keep notarized and translated income proof ready
- Make sure your name is on your mailbox for card delivery (important for banks like BBVA)
Review: Opening a Nickel account
When I arrived in Spain, one of my first steps was getting a Nickel card, which was a lifesaver. Without it, I would have had to rely solely on cash until I opened a traditional bank account, which could have taken 2–3 months.
- Works for all online payments and subscriptions
- Can be added to Apple Pay
- Issued for €25, collected from numerous pick-up points (often tobacco shops)
Usage limits:
- Cash withdrawals: up to €300/month (some accounts show €1,500)
- Transfers: up to €1,000/month
- Spending: up to €5,000/month
- Cash deposits: up to €950/month (2% fee)
- Free SEPA transfers up to €30,000/month
Usually sufficient for initial needs, though transfer limits can be inconvenient for rent payments.
