BANKS
Overall the banking service in Spain is not great and there are fees. People with the same bank and branch have different experiences and maybe the most important point is to find a bank with a friendly person who speaks english and is willing to help.
ONLINE or MAIN STREET BANK
There are many online banks that can be useful to start, some with Spanish IBAN numbers, but will need a NIE number for these.
It is typical in Spain that bank documents signed and stamped are often needed from the bank as proof for other governmental paperwork. Online banks that only operate online accounts cannot sign or stamp documents, therefore we recommend the bigger high street banks in Spain.
RESIDENT or NON-RESIDENT ACCOUNT
Until you have a physical Residency card with a NIE number on it you will not be able to open a Resident account.
Before you have Tesidency card it is possible to open a non-resident account with your passport and later with your residency card switch to a resident account.
ONLINE BANK ACCOUNTS
You can open an online bank account with if you have a NIE number & passport with these banks.
This will give you a Spanish IBAN (account number).
- N26: https://n26.com/en-es/bank-account
- Bueno: https://getbueno.com/banking/ This has a monthly fee of 9.99€ or 99€ a year.
You can open an online bank account with only your passport with these banks:
- CAIXABANK online: https://www.caixabank.es/particular/holabank_en.html
This will probably need to be completed at a bank office to verify your identity.
For an english speaking branch in Valencia city center use código de sucursal 07727
- OPENBANK of Santander: https://www.openbank.es/en/current-account
This is part of Santander Bank online and has no fees.
It is sometimes possible to get documents signed and stamped at the offices if needed.
This will probably need to be completed at a bank office to verify your identity.
CURRENCY DIRECT - The quickest way to get a Spanish IBAN number
This a popular online banking but also with physical offices all over Spain that is excellent way to get a Spanish IBAN number online or transferring large amounts or regular transfers to Spain, particularly for property purchase. With exchange rate fluxuations you can choose to transfer funds automatically when it hits a specific exchange rate. It is cheaper and quicker than a regular bank transfers from the USA, Canada & UK but with the bonus of giving you a Spanish IBAN number & bank card which is really useful when you move to Spain.
- Can be opened online with your passport
- Spanish IBAN number if opened with a Spanish office (see below)
- Spanish Debit card
- Offices in Spanish cities and most major international cities
- App in English
- Transfer funds automatically when it hits a certain exchange rate
- Can hold funds in EUR, USD, GBP and other currencies
Contact: Toni Wilson
E-mail: toni.w@currenciesdirect.com
Phone: +34 671416123
or use the link to see the details and costs CurrencyDirect
When you first move to Spain opening an online WISE account can be helpful until you can open a resident account with your TIE card or have a Spanish IBAN.
With the App or online it allows you to transfer funds to Spanish bank accounts or pay by card. Transfers are usually instant, maximum same day and the fee is low for small transfers.
Link: Wise
