Banking Guide

Opening a Bank Account in Spain

Opening a bank account in Spain as a foreigner is straightforward once you understand the documentation sequence. The main friction point isn't complexity—it's timing: you often need an NIE before a bank account, but some processes assume you already have one. This guide breaks down what actually matters and where people get stuck.

Last reviewed: January 2026

Research summary for planning purposes. Not legal, tax, or financial advice. Verify with official sources.

Who this is for

This guide may help if you:

People planning to move to Spain who need to understand banking requirements
Those already in Spain trying to open their first local account
Anyone comparing Spanish banking options before deciding

This may not be the right fit if you:

EU citizens who only need a basic account (process is often simpler)
Short-term visitors who can manage with international cards
Those seeking specific product recommendations (requirements vary too much)

Key tradeoffs

Important considerations that affect most people in this situation.

NIE requirement creates a dependency loop

Most Spanish banks require an NIE to open an account. In practice, this creates a sequencing problem: landlords often want a Spanish bank account for rent payments, but banks want an NIE you may not have yet. The practical workaround is either securing housing that accepts international transfers initially, or opening with a digital bank that doesn't require NIE.

Traditional banks vs. digital banks

Traditional Spanish banks (Santander, BBVA, CaixaBank) offer full services—cash deposits, mortgages, in-person support—but require more documentation and often charge monthly fees. Digital banks (N26, Wise, Revolut) are faster to open but may not provide Spanish IBANs, which some landlords and employers require. The decision usually comes down to whether you need a Spanish IBAN for specific local payments.

Non-resident vs. resident accounts

Non-resident accounts exist but typically come with higher fees and fewer features. Most people find it cleaner to wait until they have residency documentation, then open a standard resident account. The exception: if you need an account immediately for a specific purpose before your NIE arrives.

Common requirements

These documents come up consistently across banks. The specifics vary, but walking in without these typically results in a wasted trip.

Valid passport — bring the original plus a copy; banks need to verify and often keep a copy on file
NIE (Número de Identidad de Extranjero) — the main gate. Most traditional banks won't proceed without it
Proof of address in Spain — rental contract is standard; empadronamiento certificate works if you have it; utility bills accepted at some branches
Proof of income or employment — banks want to see you have funds coming in. Pay stubs, employment contract, or recent tax returns work
Spanish phone number — required for 2FA and notifications. Get a prepaid SIM before your appointment

Types of banks commonly used

The practical difference between bank types comes down to what you actually need: full local services vs. quick access to an account.

Traditional Spanish banks (Santander, BBVA, CaixaBank, Sabadell) — full branch networks, cash deposits, mortgages, local credibility with landlords. The tradeoff is stricter documentation and €5-15/month maintenance fees unless waived
Online-first Spanish banks (Openbank, ING Spain) — lower or no fees, often more flexible on documentation, but limited branch access if you need in-person help
International digital banks (N26, Wise, Revolut) — fastest to open, no NIE required for basic accounts, strong for multi-currency. The limitation: may not provide Spanish IBANs, which some landlords and employers specifically require

Typical process

Once you have documentation ready, the process itself is straightforward. Most people complete it in a single branch visit.

Verify current requirements with your target bank — a quick call or website check prevents wasted trips
Book an appointment if required. In major cities like Barcelona and Madrid, walk-ins at traditional banks often mean long waits or being turned away
Bring all documents to your appointment — missing even one typically means rebooking. Expect 30-60 minutes for the full process
Sign account agreements. These are usually in Spanish. You can request time to review or bring someone to translate, but staff generally won't provide official translations
Account details are usually available immediately. Physical cards arrive by mail within 1-2 weeks

Where people get stuck

These friction points come up repeatedly. Anticipating them saves both time and frustration.

Missing documents — the most common failure. Banks don't make exceptions; if something's missing or expired, you're rebooking
Language barriers — branch staff in smaller towns or non-tourist areas rarely speak English. Bringing a Spanish-speaking friend or having a translation app ready helps significantly
Branch-by-branch variation — policies genuinely differ between branches of the same bank. If one branch is difficult, trying another sometimes produces different results
Processing delays — quoted timelines are optimistic. Card delivery can stretch to 3-4 weeks. If you need the account urgently, ask about interim solutions
Monthly fees — most traditional Spanish banks charge €5-15/month unless you meet conditions like direct deposit or minimum balance. Digital banks typically don't

Next steps

Continue your research with these related guides.

Spain Country Guide

Overview of setting up in Spain, including administrative dependencies.

Compare Banking Options in Spain

Digital vs traditional banks, which you actually need.

Living in Barcelona

City-specific guide including banking considerations for Barcelona.

Spain Visa Paths

Understanding visa options that affect your residency status.

Sources & references

Official Sources

Bank of Spain (Banco de España) – Central bank regulations and consumer information
Spanish Tax Agency (AEAT) – NIE and tax identification requirements

General References

Individual bank websites – Requirements vary; always verify directly
Expat community forums – Anecdotal experiences; requirements change

Information gathered from these sources as of January 2026. Requirements and procedures may change.