Can I open a Spanish bank account without an NIE?

A few banks will open accounts without NIE (Sabadell sometimes does for non-residents), but most require it. Your options are limited and you may face restrictions. Get your NIE first—it makes everything easier.

Which bank is best for expats?

Sabadell and Santander are popular with expats for their English-speaking staff. Digital banks like N26 are easier to open but less practical for daily Spanish life. Many expats use a traditional Spanish bank plus Wise or Revolut for transfers.

How long does it take to open an account?

With all documents ready, you can often open an account the same day. Getting the debit card takes 1-2 weeks. Online banking setup is immediate. The main delay is usually getting an appointment.

Do I need to close my UK bank account?

No, and many expats keep them. However, inform your UK bank of your new address. Some banks restrict services for non-UK residents. Having both UK and Spanish accounts gives flexibility for different currencies and services.

Banking in Spain | Expat Marbella

Opening a Spanish Bank Account

You'll need a Spanish bank account for almost everything: paying rent, receiving salary, direct debits for utilities, and general daily life. The good news is it's straightforward once you have an NIE.

What You'll Need

**NIE number** (essential for most banks)

**Passport**

**Proof of address** (rental contract, utility bill, or padrón certificate)

**Proof of income** (payslips, pension statement, or tax return)

Some banks may ask for additional documents, especially for non-residents.

The Main Spanish Banks

Banco Santander

Largest Spanish bank

Many branches, including English-speaking staff in tourist areas

Good online banking

Some free accounts, others €8-15/month

BBVA

Second largest, modern app

English interface available

Free accounts available with conditions

CaixaBank

Strong in Catalonia but nationwide presence

Merged with Bankia

Good branch network

Sabadell

Known for expat-friendly service

English-speaking staff in coastal areas

Often recommended for British expats

N26 / Revolut (digital banks)

Open from anywhere, easier process

Good for transfers between countries

Not ideal as your only Spanish account (some direct debits don't accept)

The Process

1. Book an appointment - Most banks require cita previa

2. Bring all documents - Original + copies of everything

3. Open the account - Usually same-day if documents are in order

4. Get your debit card - Usually arrives within 1-2 weeks

5. Set up online banking - Download the app, set up access

Non-Resident vs Resident Account

If you don't have residency yet, you can open a non-resident account. These have some restrictions (higher fees, limits on certain services) but work for basic needs. Once you have residency, convert it to a resident account.

Bank Fees

Spanish banks love fees. Watch out for:

Monthly account maintenance: €0-15/month

Card fees: €20-50/year (often waived with conditions)

International transfers: €15-40 per transfer

Cash withdrawals at other banks: €1-3 per withdrawal

Tip: Ask about conditions for free banking. Often you can avoid fees by having a minimum balance, direct deposit, or using certain products.

Transferring Money to Spain

For Regular Transfers

Wise (formerly TransferBank) - Best rates, low fees, fast Revolut - Good for currency exchange and transfers CurrencyFair - Competitive rates for larger amounts

For Large Amounts (Property Purchase)

Specialist currency brokers:

Moneycorp

Currencies Direct

TorFX

These offer better rates than banks for large transfers. They can also set up forward contracts to lock in exchange rates.

Tip: Never use your high street bank for large transfers. The exchange rate difference alone could cost you thousands.

Managing UK and Spanish Accounts

Many expats keep UK accounts for:

UK pension payments

UK investments

Visits back to the UK

Important: Tell your UK bank you've moved. They may close accounts for non-residents, but many allow you to keep accounts with an overseas address.

Tax Considerations

Once you're Spanish tax resident (living in Spain 183+ days/year), you should:

Declare worldwide income to Spanish tax authorities

Report foreign bank accounts over €50,000 (Modelo 720)

Consider working with a Spanish tax advisor

The tax situation is complex. Get professional advice, especially in your first year.

Banking in Spain