Opening a bank account in Spain

If you're staying in Spain for an extended period or are considering emigrating, a Spanish bank account can be very useful. Read all the important information about bank accounts here.

Using a foreign bank account in Spain

In Spain, you can simply pay with your current bank account. However, keep the following in mind.

Exchange rate : If you pay in euros, there is no problem, but with payments or withdrawals in other currencies abroad you may encounter high additional costs.

Transaction costs : Some banks charge additional fees for withdrawing money or making payments in Spain

Payment convenience : For many local services, such as direct debits for rent or utilities, you often need a Spanish IBAN. This makes using a non-Spanish bank account less convenient.

Why open a Spanish bank account?

A Spanish bank account can be useful for several reasons.

1. Everyday payments: It's easier to pay bills and groceries and to withdraw money from local ATMs without incurring extra fees for international transactions
2. Mortgages and loans: If you want to buy property in Spain, in most cases you will need a Spanish bank account number to arrange the mortgage.
3. Tax Return: Some tax obligations in Spain require a Spanish bank account
4. Work and salary: In Spain, in most cases you will need a Spanish bank account where your salary can be deposited.
5. Applying for a Spanish phone number
6. Concluding a Spanish energy contract and telecom contract
7. Taking out home/car/health insurance

Open a Spanish bank account

To open a Spanish bank account, you'll usually need the following documents. (This may vary by bank.)

• Valid passport or ID card
• Proof of address (rental contract, energy bill or municipal registration)
• NIE number (for a longer stay in Spain)
• Proof of income/employment (employment contract or pay slip)

Non-residential and residential bank account

Several banks in Spain offer bank accounts to non-residents (i.e., those without an NIE number). All you need is a passport or ID card. These bank accounts are generally more expensive than a regular Spanish bank account. Once you've received your NIE number, you can convert your bank account to a regular one with lower fees. Please ensure that all paperwork, forms, and documents are translated into Spanish.

To open a residential bank account, you need a NIE number. It's recommended that you open your Spanish bank account through your lawyer's contacts. This often accompanies the application for the NIE number.

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Frequently Asked Questions (FAQ)

Can I open a Spanish bank account as a foreigner? Yes, both as a resident and non-resident (without an NIE number).

Can I convert my non-residential bank account to a residential one? Yes, once you've received your NIE number, you can convert your bank account.

Can I pay with my own non-Spanish bank account in Spain? Yes, but be aware that exchange rates and additional fees may apply.

Written by: Esmeé - Marketeer CLD (October 7, 2025)