Whatever the case may be, finding the best bank is always important, and something we may want when looking to open a bank account. Therefore, in this article we show the list of best banks in Spain.
Now, the best bank in Spain is an institution that must fulfill some requirements and provide quality services, when it comes to accounts, withdraw, mobile and security solutions, attention, permanent availability and more.
Here is a list of best bank in Spain 2021. Few financial enterprises with banking services that are worthy of being mentioned and standing out in the current year, some of them known worldwide for Spain banking relevance and supervised by the Banco de España.
Financial institutions mentioned in this article are considered by users and specialized entities as best bank to withdraw money, make deposits, open account, and ask for loans and other procedures, even online and with low commissions, English speaking and straightforward operability.
Best Banks in Spain for Expats
Spain is a country where many people go to work and make a living coming from other countries, whether from the EU or also from Latin America, Asia and the rest of the continents.
These non-residents in the Spanish country are in the need to have a bank account, immediately and in order to start paying for services, such as rent and different subscriptions where local accounts or debit card use is required.
Depending on their characteristics, services and general approach, there are banks in Spain that are better for expats than others, since requirements are not the same in comparison to residents.
Such features are related with paperwork that shows identity and employment, residences, visas, along with general services such as being the best bank to withdraw money in Spain, commission-free solutions, quality service, security and credit and debit card use. Here are some of the best banks in Spain for non-residents.
1. BBVA Bank Spain
When it comes to opening a bank account in Spain and particularly for non-residents, the BBVA Bank Spain is definitely a choice to have in mind. This financial group is the second largest and most relevant in the whole country, created in 1857 and fused with Argentaria Bank in 1999, having operations in over 30 countries and including South America.
In terms of services, the BBVA bank makes easy to use its services through the mobile app, in terms of transactions and money transfers, service payment and even account opening, all through the application where BBVA online banking Spain really shines.
There is also the chance for expats to open the Non-resident bank account BBVA bank, and therefore starting having the benefits of being integrated into the financial system of the country, with basic requirements.
2. Banco Popular
Banco Popular Bank Spain is a financial institutions that offers up to 1800 local branches in the entire country, based in Madrid and with a business and monetary model that offers banking respecting two different approaches: asset management banking, insurance banking, real estate banking and commercial banking.
This financial institution is present in Spain, as well as in the United States, Mexico and other countries, with advantages that clearly benefit users that are expats or non-residents in any of these nations. Banco Popular Online Banking Spain platform is available to perform and carry out different financial procedures, from a smart phone computer.
3. Santander Bank
The Santander Bank Spain group is the biggest financial entity of this sort in Spain, and therefore offering services and solutions that make easier for users to carry out operations, especially the Santander Online Banking Spain that allows to open new accounts, make money transfers and pay for services, all in one place and through one application on the phone.
This is particularly a great advantage for non-residents, with basic requirements that are needed and guarantying reliability, security, low commissions and English speaking workers for those who does not speak Spanish.
4. Sabadell Bank Spain
Sabadell Bank Spain is at spot 5 in terms of the largest financial organizations in the country. Being recommended for their solutions for small and half-size industries and businesses, Sabadell is perfect for entrepreneurs coming to Spain to work.
This bank is suitable also for those non-residents of the country who want to be integrated with the financial system, and obtain a debit card and online access to the official Sabadell platform to make payments.
Another advantage for non-residents is the fact that this bank offers a professional team of workers, English-speakers and contracts and policies also written in this language for immigrants from United States, England and other countries. Commissions are low too and there is also availiability of banco Sabadell Spain online banking.
5. Bankia Spain
Bankia Spain financial group is a relatively new bank created in the country in 2010, fusing 10 other smaller entities into one that was founded as an Institutional Protection Scheme or ISP.
When it comes to advantages and services for the non-residents, Bankia is perfect by providing suitable solutions, such as the On Account or Cuenta On, with no commission whatsoever for any transaction, and also no minimum balance requirement either.
The best part is that accounts can be open online and operations are also carry out this way, and in case users are in the need of going to a local branch, the staff is very professional and capable of speaking English.
CaixaBank and Bankia Boards of Directors approved a merger plan to create Spain’s leading bank.The new entity, which will maintain the CaixaBank brand, is to be founded with the aim of adding value to customers, improving profitability for shareholders and continuing to support Spain’s economic recovery. More info here:
Online Bank Accounts In Spain
A few banks in Spain offer financial solutions using a relatively new approach, having plenty of advantages respecting time saving, permanency, reliability, ease of use and even opening; we are talking about the online bank accounts.
Different entities allow to open bank account Spain online with an easy procedure, through platforms on the internet, such as websites and applications that can be executed in computers, laptops, tablets and smartphones.
Opening an online bank account in Spain is a service that a few banks in the country offer, allowing the user to carry out the procedure completely by themselves, resulting quite useful for expats and non-residents that want to have a debit card and online bank accounts to manage money and perform transactions. These are a few banks in Spain that provide online bank accounts:
1. Revoult Spain
The Revoult Spain online bank is a digital banking app; a new approach about offering financial solutions, through an application in which the user can do every procedure and transaction, with low fees, reliability and state-of-the-art features.
The focus of the Revoult bank is offering financial advantages and tools for those who travel a lot or have the need to work in other country other than their own, and being non-residents the need some features that allow them to spend money and pay on the go, including internationals transactions.
For many, Revoult Spain is perfect for expats since it gives the user a suitable bank account with international approach, digital and accesable from any device, with no hidden fees and an IBAN number that is required in Spain for money transactions and pay insurance and other services.
2. N26 Online Bank
The N26 is completely an app-based digital bank founded in Germany, but offering services in Spain and even the IBAN number that is required for formal financial operations in the country and the possibility to have a bank account and make payments.
N26 Spain Bank does not have physical branches but does not need them at all, since the amazing application offers every service, function and possibility of managing assets and perform different procedures and transactions, all though mobile devices. That is why; it is a perfect choice for those who travel or non-residents that work in the Spain and need bank account.
TransferWise is a multi-currency service and online digital account, designed for those users that work abroad and are in the need of a financial platform, always available and with access to a debit card for withdrawing money directly from ATMs.
Accounts in TransferWise Spain can be open directly from a smartphone or tablet using the application, following a few steps and being ideals for non-residents, not only in Spain but in all countries of the EU, England, United States, New Zealand and others, working the account and debit card just fine in every territory. Currencies are not a problem since exchange rates are taken directly and fees are of the smallest users can find.
Wrapping up… The best bank account for non-residents.
When it comes to financial solutions and bank accounts that are mandatory to use for different services and operations in Spain, and particularly for non-residents and expats that work in the country and travel abroad frequently, online bank accounts and app-based accounts are perfect,
This is because of their remote approach, basic requirements and ease of use, with no need of physical branches, low fees and availability of international transactions overseas that make users´ lives a lot easier with simple ATM withdrawals in different currencies and with small commissions, in comparison to traditional local bank accounts.
68 thoughts on “Best Bank Accounts In Spain”
can i pay my direct debits to the utilities in spain from my account
Hi Peter, yes you can! Nevertheless, if you need to pay for formalities with the Spanish Administration it is likely that you’ll need a spanish bank account.
I am a US citizen looking to open up a back account to pay utilities as well because I am going to buy property in Spain. What bank would you suggest? I’ve heard good things of ING??
one of our lawyers should be in contact with your questions.
i have a small private pension that is sent to spain every month.
But after brexit my bank is charging a transfer fee, how can i avoid this fee.
Hi Edward, thank you for your comment.
Depending on the amount of the mortgage we would suggest you try an online bank account like N26 or Revolut.
Nevertheless, for our experience, the best entity to transfer funds to Spain from a non European Country is to use Transfer Wise.
TransferWise works as an online account that allows you to send money, receive payments and spend internationally. With a TransferWise account you can send money abroad, receive payments in different currencies and use your money with the TransferWise debit card.
as a uk resident, the n26 is no longer an option, just tried
Thanks for the advice!
You don’t mention account maintenance charges in your review. These can be between 100 and 150 euros per your for non residents bank accounts in Spain .
Yes, Chris this is depend the bank …
I am not resident and do not pay anything. Ask for online account, without “libreta” in Bankia.
Since La Caixa took over you will soon be billed as a non resident.
If you don’t supply a TIE and tax reference they will block your account
We have a holiday home in spain, so non residents and we bank with Ciaxa just to pay the basic dd for water, electric etc . They are putting up their fees to 35 euro a quarter so Im thinking of transferring to another bank. Any recommendations please? I was looking at BBVA, many thanks
You can use another’s banks without cost… Example ING.
We are in exactly the same position as yourself. We were informed by CAIXA that it would cost 60 euros per quarter to maintain our account. Yesterday – we were informed that our account is to be known as HolaBank with a fee of 35 euros per quarter. HolaBank appears to offer only a digital service. We have looked at Starling Bank. However, reviews have not been favourable. We are looking at BBVA. Can you see any drawbacks with moving to BBVA?
BBVA just charged me 74 euro fees with no any information, impossible to get cita, impossible to speak English, impossible to change branch .
I was happy with BANKIA since CAIXA took it over. Since then it’s a catastrophe, fees of 140 EUR/ year, my internet account completely blocked with no solution from CAIXA in spite of numerous attemps to ask for help. Spanish friends confirm the catatrophic reputation of CAIXA.
I consider an online bank and I would be grateful from all of you of you have more information and experience to tell us
Replied to your comment a few minutes ago.
Just looked at BBVA. They appear to offer an account switching service. However, not clear if that is for residents and/or non-residents.
I found this thread because of the same reason! Non-resident, banking with La Caixa and tired of the fees but need to pay utilities etc.
Did you manage to find out if BBVA (or any other Spanish bank) does account switching? The thought of setting all the info up again leaves me cold!
Ask for online account without “libreta” in Bankia.
I have my account there and nt pay anything
Are you a EU Resident Elaine
Hello, we are not residents and need a Spanish bank account only to pay utitlty bills. I found out that acc. to the regulations of Spanish National Bank all Spanish banks are obliged to offer basic payment account for, among others, residents of EU countries for a monthly fee of no more than 3 EUR incl. debit card. These accounts are advertised on webpages of the banks (cuenta de pago basica), but if you visit any branch they do not offer it.
I would like to share with you informations gathered while trying to open a cuenta de pago basica:
1. Bankinter – staff did not know such kind of an account and offered us a current account for 9 EUR/month without with a debit card for extra charge.
2. Caixia – said that this account is only for people with few income (what is not true – I checked EU and Spanish National regulations about it) and offered us an account for 60 EUR/quarter saying they reserve a right of admission, so they are no obliged to grant the account for 3 EUR/month if they do not want to.
3. Cajamar – they said they neither have cuenta de bago basica nor other accounts for non residents. There is a product cuenta de pago basica on their website advertised.
4. Cajasiete – offered us an account for 9 EUR/month and asked to start the procedure via internet (what turned out not to be possible for non residents). After contacting their headquarters via Whatsup I received an information that it was possible to open the basic payment account for 3 EUR/month in the branch and that it was the only one non residents bank account their offer.
I write it to encourage you to insist on banks to open for you, if you are non resident in Spain, these basic bank account which is our right acc. to EU regulations.
Can I ask you to tell me which bank you finally chose? Also, as a non-EU resident, I will need to open an account with a Spanish bank as I want to buy a property here.
Thanks a lot
Some banks has accounts that is almost free if you send over 650€ to them /month and use cards a few time a month. BBVA and DB has that at least, and I think also BankInter
Santander I would never use
I sent £1000 from my uk Santander bank account to my BBVA bank in Tenerife in November last it cost £15 for the transaction by Santander a week later it arrived back in my uk bank less £54 that BBVA charged for tapping a few keys on their computer ?
Thinking of selling my apartment as we are now out of the EU.
Branco sabadell are charging me 200 euros a year for a Spanish current account just so I can pay my water and electric , it’s a rip off , can anybody help ?
NB: Transfer Wise is now called Wise. I’ve used them for years to transfer funds from the US, but after a lot of frustration with IberCaja (don’t use them), I think I’ll use them for everything and go bricks n mortar bank-free
Thank you for your opinion Madeleine!
Hi, I am currently with Unicaja, however, their customer service and online banking apps are useless, I am thinking of moving to BBVA, can I arrange the transfer whilst in the UK, and will all of my standing orders/direct debits also be transferred? Thank you
I think yes… But you need to talk with the BBVA
Hi, I am currently applying for a Non Lucrative Visa and am in the middle of purchasing an investment property in Spain. I understand I need a Spanish account but am getting VERY confused with which is best and most suitable for a non resident, but will need to pay tax on the property in future and have IBAN number. I am really interested in N26 as this is an online platform but I am concerned this is not sufficient for paying utilities and tax etc. I also use WISE for the occasional transfer especially whilst buying this property so i don’t know whether a mixture of both is sufficient? Would you be able to tell me whether I am right in my concerns with N26 and I should be looking for a proper Spanish bank or whether N26 is completely fine and offers everything i need?
one of our lawyers should be in contact with you shortly for your questions
Hi David, I am in the same situation that Jo.
I live in the USA and I am in the process of buying an apartment in Fuengirola, Spain. I have a Spanish and USA nationality. I read your review of the different banking options but I am still confuse. I am planning to live in Spain about 4 months of the year since I am now retired, but I do not know what is my best banking option to be paying my utilities. Taxes,.. and have an ATM card in Spain for my expenses, and maybe even a credit card so that I can avoid all the fees. Please, have one of your lawyers contact me for the free consultation.
We have an account with Wise but they say we have to arrange for the direct debits to be cancelled from bankia and set up with them. Not easy when you can’t get in touch with Bankia! Are there any banks in Spain which will make the arrangements required and not charge the ridiculous fees? Thank you, Deborah
I live in Spain but work in Gibraltar. I understand that you need to have a Spanish bank account to pay taxes, is this accurate and if yes, would Transferwise work for this purpose if set up in Spain?
Sorry, we never use TransferWise for pay taxes
I am looking for recommendations on what spanish bank institution will best be suited to my needs. I do not reside in spain at the moment but planning to buy a property to renovate and at the end of renovation will move (to mallorca) permanently with family and business.
I recently received my NIE number which allows me to open a spanish bank account. Mainly we will need to pay for the property and any payment related to the work to be done like builders, council taxes, utility bills and so on. I am just wondering if we need a bank that has branch around the island for transactions. What would be the best bank with a comprehensive online service and branch reach? What’s the lower fees offered?
Appreciate any suggestion.
Any large Spanish bank has these services that you mention and they have a presence in Mallorca, for example. la Caixa, Santander (they have commissions if you don’t have a payroll) … if you need any help regarding visas, contact us
strange that n26 is suggested here as a fine alternative for non residents. themself on there website limit the opening of accounts to residents.
but, something completely different: are there spanish banks that offers the option to open a shared account, between 2 adults (1 EU citizen, 1 not EU citizen, both resident in central amerika at the moment). we want to buy together a house in spain.
I live in Thailand and recently received approval for my non-lucrative visa. My understanding is once I arrive in Spain I will have 30 days to apply for the second step if getting my 1 year residency permit. Does this mean, once I have residency permit I will qualify for better services offered by the banks in Spain?
one of our lawyers should be in contact with you shortly for your questions.
which Spainish bank has lowest acc/ charges to non residents ?
I think Openbank or ING
Openbank have payment issues, I have money I cannot spend. Avoid them at all costs, no pun intended.
I cannot recommend BBVA. They delay transfers for several days which is not only uncool but I’m pretty sure illegal also. When I receive a transfer, I am only shown “transferencia recibida” without any info on WHO sent it or WHAT it is regarding, i.e., the “concepto”. This information takes a full 3-4 days to appear. I mean really? What are these people up to?! Clearly, they have no clue how to run a bank. If you are looking for a real bank go somewhere else.
From I have have heard the other high-street banks in Spain are no better. It seems the best option is to go with a foreign bank like N26 or Wise.
Thank you for your opinion Pete!
Hi I’m getting ready to move to Spain from the States this month. I’m wondering if I makes sense to open an account here with either Santander, or another bank that has locations in Spain but also international? Just seems easier.
one of our lawyers should be in contact with you shortly for your questions.
Hello, does anyone know if I get a Wise (previously Transferwise) account to be able to purchase a property, whether I will then be able to use that account to pay bills? Thank you. 🙂 M
I have wise as my main account, and keep balances in pounds, euros and dollars because I have accounts in Spain, UK and South America. You can use Wise to pay bills no problem by just sending money to a recipient account (wise allows you to setup private recipients or company recipients), but I have not done any direct debits to the wise account just payments as big as 9,000 euros. Wise also has a card that you can use to pay from your balance, its a visa debit. But its only for payments, I think you can’t get more than $200 a month in cash, i just use it fro payments in shops or bars. I use my bank cards to get cash. Regarding Spainish accounts, wise ‘send money’ is real fast is the recipient is Santander or Caixa, as it takes seconds to do a transfer from your balances (I repeat: from your balances), as from your accounts directly to their account takes longer. For other banks like ING (which is where I have my spanish account) takes a minimum of 8 hours. don’t ask me why. My ING account is where I have direct debits for water, electricity etc.. My usual money workflow is to add money to wise balances from either UK or South American accounts using my cards, then keep the balances there and when I need to, I top up my spanish account with a ‘send money’ operation from wise. ING doesn’t charge any money for the account, but if you put less than 700 euros a month in the account, some stuff may cost money, but is not much, so ING is good and cost effective account if you do not mind waiting 8 hours to receive your money into your account. If transfer time is important, open it with Santander or Caixa (I guess BBVA too but I have never sent money to BBVA). I hope is useful to anymone.
I am paying 14 euros per month for my Bankia account and so opened a Wise euro account and manually transferred the utility direct debits across. Wise give you a Belgian IBAN but unfortunately my broadband provider Olivenet will not set up a direct debit on the Wise account and Wise will not let me transfer manually into the Olivenet account. Also my solisitor said he could only set up a direct debit for his fees on an account with a Spanish IBAN and all taxes have to be paid from an account with a Spanish IBAN.
I live in the UK and wish to close my account but Bankia have frozen my account (still paying 14 euros per month) until I go into the branch with ID, they are making no allowances for covid.
N26 will give you a Spanish IBAN but it clearly states on their website it is not available to non-residents of Spain so I could see problems in creating an account with them.
I use starling bank euro account to pay bills in Spain no charges no problems so far and upfront charge to transfer £ to euro
We are non residents. Every time we send money over to Spain BBVA now charge us a handling fee. Is there any way round this.
My wife, two kids and I have NIE’s and were living in Valencia on Non-Lucrative visas up until the end of 2019. We no longer live in Valencia. My wife opened an account with Banco Sabadell for day to day banking, which we still transfer money to monthly. Due to COVID-19 we still have an apartment in Valencia that we are renting and hope to finally close this fall.
My question is that we would like to purchase an investment property in Valencia in the future. Is it possible in Spain to have a joint account? And if not, as I earn a higher salary, would it be in our best interest to have an account in my name for when we do go to purchase property?
Thank you for your input.
one of our lawyers should be in contact with you questions.
We have a joint account with Sabadell
Hi I currently have an account in Spain in the name of my uk Ltd company which only owns my apartment but my bank is charging me €60 a month for perhaps 4 items a month I have approached other banks who are saying they cannot open a new account in a uk company name can anyone advise me of any bank with Spanish iban that will
Thank you Stan
May I humbly suggest that #1 in your list is REVOLUT and not REVOULT?
In addition, Transferwise is now WISE (wise.com) and no longer called Transferwise
I am from the US and recently relocated (9/28/2021) to Spain for a work contract. I am in need of a Spanish bank account to receive direct deposits, pay rent, utilities, etc. After reviewing information on different banks I am still a bit confused about which one may be the most useful and economical. BBVA and Caixa Bank appear to have high fees for what they are offering. Bank Sabadell appears to be more centralized in southern Spain. N26 appears to present more problems than advantages. I was also considering Santander but they charge 192 euros for non-resident bank accounts. Any suggestions that you can provide would be greatly appreciated.
Sabadell appear to be like a franchise system, your account cannot be moved to another branch and other than minor enquiries you always have to go back to where your account is held. They also charge for things without warning and sometimes months after the fact.
which bank you ended up opening an account with. I would like to buy a property in Spain so I would be glad for any recommendation, advice.
Can a tourist on a schengen visa open a bank account in Spain? If so, what are the requirements and how many days before the account is activated? so that the duration of the trip can be planned. the account will be used to possibly purchase property / for non lucrative visa purposes. Thank you.
one of our lawyers should be in contact with you questions.
Anyone who buys a property in Spain is asking for a massive headache.From somebody that knows.
Hi, what is your personal experience? I am seriously considering buying a property in the Mlaga area,
My name is Florin ,UE/Canadian citizen,non Spanish resident and have an account with Santander.
Is it difficult to change the type of the account and the location where is held ?
One of our lawyers will explain the whole process to you.