How do I open a Spanish bank account?

A Spanish bank account makes daily life easier: landlords, utilities and the tax office collect by direct debit, and many people pay each other with Bizum. You can open one before you are resident, but the bank will treat you as a non-resident until you show your residence card.

Resident or non-resident account

Spanish banks distinguish between residents and non-residents. Before you have your TIE (residence card), you will usually open a non-resident account. Rastreator, a Spanish comparison site, says banks ask for a certificate of non-residence, which you get by showing your passport at a Spanish consulate or at a police office that offers the service. The police list it as a procedure on form EX-15. Banks may also ask for proof of income, a reference from your UK bank or a work contract. Non-resident accounts often need the certificate renewed every 2 years, or the bank may close the account.

Once you have your TIE or NIE and a Spanish address, ask the bank to change the account to resident status. See NIE, TIE and tax.

What to bring

• Your passport, and your NIE or TIE once you have it
• Proof of address in Spain, such as your padrón certificate or rental contract
• Details of your job and income: anti-money-laundering law (Ley 10/2010) requires banks to find out the nature of your work and check it
• Your Spanish phone number for app codes (see Phones and internet)

Fees and choosing a bank

Spain has large banks with branches everywhere and online-only banks. We don’t recommend any. Compare:

• The monthly fee, and what you must do to avoid it (for example paying in your salary)
• Fees to receive money from the UK, and the exchange rate on card payments
• Whether you can open and manage the account in English
• Cash machine fees outside the bank’s own network
• Whether a branch is near you, if you prefer face-to-face help

The basic payment account

Banks offer a basic payment account (cuenta de pago básica) to people legally resident in the EU, as long as they have no other payment account in Spain. The Banco de España says the maximum fee is €3 a month, or free for people in financial hardship, covering up to 120 euro payments a year. Santander, for example, charges exactly €3 a month. It is a fallback if a bank refuses you a normal account.

Online banks and IBAN discrimination

Under EU rules, a company that accepts SEPA transfers or direct debits from Spanish accounts can’t refuse yours just because it is in another EU country. This covers bills, online shopping, taxes and benefits. If it happens, complain to the authority in the company’s country and report it to the European Commission. The rule protects accounts in EU countries: a UK account is not covered.

Bizum

Bizum is a mobile payment service run by the Spanish banks. You use it inside your bank’s app to send and receive money between people with just a phone number, to pay some online shops and even to pay your tax: the Tax Agency accepts instant payments such as Bizum for the annual return. You need a Spanish bank account that offers it.

Is my money safe?

Deposits at Spanish banks are covered by the Fondo de Garantía de Depósitos up to €100,000 (about £84,700) per holder, per bank. It works like the UK’s FSCS.

Credit history

Your UK credit record is unlikely to help much with Spanish lenders, so a credit card or loan can be harder to get at first. Read Credit history in Spain.