Opening a bank account is one of the first things expats need to do when moving to Spain. Whether you're relocating for work, retirement, or as a digital nomad, having a local account makes everyday life easier—and cheaper. Here’s how to do it in 2025 without unnecessary fees or complications.

🏦 Types of Bank Accounts in Spain

There are two main types of accounts expats typically open:

• Cuenta corriente (current account): For everyday transactions, salary deposits, and bill payments.
• Cuenta de ahorro (savings account): To earn interest on your money, though rates are often low.

📄 What Documents Do You Need?

Requirements can vary slightly between banks, but generally you'll need:

• Valid passport or national ID (for EU citizens)
• Spanish NIE (Foreigner Identification Number)
• Proof of address (rental contract or utility bill)
• Proof of income or employment (for some banks)

If you don't yet have a NIE or local address, some banks allow you to open a non-resident account, which has fewer features and higher fees.

If you're moving to Spain under a remote work visa, setting up your finances early is crucial. Our complete guide to the Spain Digital Nomad Visa explains how to qualify and what financial documentation you’ll need—including bank account requirements.

🏦 Best Banks in Spain for Expats (2025)

Here are some popular banks for expats in Spain:

• Banco Santander: Large network, English-speaking staff in expat-friendly cities.
• CaixaBank: Expats can open accounts online and access mortgage services.
• BBVA: Good digital services and an intuitive mobile app.
• ING: Online-only bank with no monthly fees if conditions are met.
• N26 & Wise: Great for online banking with low international fees.

💰 How to Avoid Bank Fees

Some banks charge monthly maintenance fees (usually €6–€15/month). Here’s how to reduce or avoid them:

• Maintain a minimum balance in your account
• Set up a direct deposit (e.g. salary or pension)
• Use the bank’s app and go paperless
• Consider online banks like N26 or Wise for no-fee options

🌍 Can You Open a Spanish Account From Abroad?

Yes, some online and digital banks allow expats to open accounts before arriving in Spain. Examples include:

• Wise (ex-TransferWise): Offers local Spanish IBANs and multi-currency accounts.
• N26: Easy online onboarding process, accepted across Europe.

These are especially useful for paying rent, utilities, or receiving freelance payments.

🔒 Is Spanish Banking Safe?

Yes. Spain’s banks are regulated by the Bank of Spain and adhere to EU banking regulations. Your deposits are insured up to €100,000 under the Deposit Guarantee Scheme.

💡 Final Tips

• Compare fees and features before choosing a bank
• Online banks can be a better choice for digital nomads and frequent travelers
• Make sure your bank supports SEPA transfers for receiving money from abroad

Having a local Spanish bank account simplifies everything from rent payments to setting up utilities. Choose wisely to save on fees and enjoy smoother financial life in Spain.

📺 Watch: How to Open a Bank Account in Spain (Video Guide)

Need a step-by-step visual? Watch this YouTube video guide for opening an expat-friendly account in Spain: