If you’re moving to Spain with the intention of working, you will want to make sure you have a local Bank Account.
In this page, you will find all the different Banking options in the country, both traditional and Digital, and the documents you’ll need to open an Account in Spain.
If you’re going to be working in Spain, then the answer is Yes. You will need a local account to get paid and pay your house bills. In addition, reporting your taxes and other administrative tasks will be a lot easier with a Spanish bank account.If you’re a student and only planning to stay in Spain short-term, you make be able to make due with a Digital Alternative.
Can I open a Bank Account in Spain without a NIE?
Unfortunately, you can’t! The first thing that a local bank will ask you for, to open your bank account, is your NIE or TIE. That’s why it’s so important to sort it out as soon as possible when you arrive in Spain.
If you’re looking for a local banking option there are many great Banks which are safe, spread across the country, and have very little to no fees for internal transfers and usage. Most Expats who move to Spain with the intention of working and staying long term, choose one of the below.
Santander
One of the biggest banks in the world, and the biggest in Spain
Caixabank
One of the favorite banks of the Spanish people, with a lot of branches
BBVA
A very famous bank across Spain and South America
Sabadell
4th largest bank in Spain, mainly in Barcelona and the South of the country
👉 Most common Digital Banks in Spain
A lot of Expats opt for a digital alternative, not only because of the easiness to sign up and manage, but also because you can convert currencies, use it in your home country, and the cards tend to be accepted in the vast majority of places. This can be a great alternative to a traditional bank account, or a complementary one which is what we recommend.
Revolut
The biggest in Europe and one of the largest in the world.
ING
A bank from the Netherlands with digital presence in Spain
N26
A UK company with an EU license. A popular option amogst Expats.
Traditional
Traditional Spanish Banks often also offer a digital option.
📑 Documents needed to open a Bank Account in Spain
Similarly to most other countries in Europe, Banks in Spain have strict KYC (Know Your Customer) laws, which means Banks need to collect a number of Documents from their customers in order to open their account.
Identity Documentation
The first and most important document you will be asked to provide is your Identity Document. As an Expat, this will most likely be your Passport, so make sure to have the original and a copy when you got to a branch to open your account.
NIE (or TIE)
If you already have it, you will have to provide a copy of your NIE (or TIE if you’re not from a EU country).If you don’t yet have it, start the process of getting your NIE as soon as possible.
Banks will ask you how much you earn, and in some cases ask you to provide proof of employment. This is used for Anti-Money Laundering reports the Government requires. If you’re a student, use the Offer Letter from your University instead.
Proof of Address
This can be your tenancy agreement, a utility bill or any other Document that validates you are living in Spain.
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Disclaimer: Matutto is not a law firm, bank, accountant or tax/investment advisor. Matutto acts only as an intermediary, facilitating the process of submitting requests for Expats relocating to Spain. Matutto cannot guarantee any application results.
