How to open a bank account in Spain as a foreigner?

If you are planning to move to Barcelona for a few months or permanently, one of the steps you will have to take is to open a bank account in order to facilitate your financial operations in the country.

Here at ShBarcelona we have compiled a complete guide to the procedures and documentation required to open a bank account in Spain. Whether you are a resident or non-resident, an EU citizen or a citizen of the rest of the world, this article is for you. Let’s take it step by step!

Table of Contents

Who can open a bank account in Spain?

Anyone can open a bank account in Spain, although the documentation and formalities vary depending on whether you are a resident or non-resident and whether you are a citizen of an EU country or a citizen of the rest of the world. Generally, banks ask for

A valid identity document in force
A document proving residence at an address (utility bills, registration in the municipal register, etc.)
Proof of income (payslip or employment contract, among others).

In addition, to open a bank account in Spain, it is not only necessary to identify yourself. There are also other conditions that must be met:

You must be of legal age (over 18).
You must not appear on a list of debtors.
Have a mobile phone (to validate the registration process) with an Internet connection.

Signing a bank account contract. Photo via pexels-andrea-piacquadio

I am a resident in Spain, how do I open an account?

To open a bank account in Spain as a resident, banks will ask you for your foreigner’s identity card (TIE) together with your foreigner’s identification number (NIE). This will serve as your identity document and will allow you to open an account easily.

What happens if I am not a resident in Spain?

If you are not resident in the country, don’t worry because you can also open an account, although the documentation and procedures to be followed differ depending on whether you are resident in another EU country or not.

I reside in the European Union

If you live in the European Union, banks will ask you for your identity card from your country of origin together with the Certificate of registration as an EU national (green NIE).

I reside outside the European Union

If you live outside the European Union, you will need to present your passport as proof of identity. In addition, most banks also ask for a non-resident certificate.

The non-resident certificate is issued at Foreigners’ Offices or Police Stations. If you are not in Spain at the time you apply, you have the option of requesting it through the Spanish Consular Offices abroad. To do so, you must present your passport or other valid identification document, fill out an application form and sign the certificate.

Signing a bank account contract. Image from Pixabay.

Which is better, opening a resident or non-resident account?

If you are hesitating about the best option for opening an account, most banks will make it easier for you if you are a resident in Spain. If you are in a situation where you will have the necessary documentation in a short period of time, perhaps the best option is to wait to open the account as a resident. You can also open an account as a non-resident and, once you have completed the corresponding procedures, convert it to a resident account.

Advantages of opening a resident account

Depending on the bank you choose, the conditions for opening an account will change, but broadly speaking these are the advantages of opening an account as a resident:

Lower fees, especially those related to maintenance or the cost of transfers.
Access to a greater number of banking products and services, such as having different accounts.
Smoother opening process. Most banks provide an online registration option for residents, while non-residents usually have to go to a branch to register.

What is the best option when choosing a bank?

The conditions of Spanish banks can adapt better or worse depending on the personal circumstances of each person, but broadly speaking, these are the questions you should ask yourself before choosing your bank in Spain:

- Do they charge opening and/or maintenance fees?
- How much does it cost to make international transfers or withdraw cash?
- What services does the account include?
- What security measures does the bank use?
- How does mobile banking work and what about customer service?
- Is there an account closure fee?

Now you have all the information you need to open a bank account in Spain. Remember that at ShBarcelona we have more than 25 years of experience managing homes, so we have a team of professionals with extensive experience.

If you decide to trust ShBarcelona to find your ideal home in the city, you will have at your disposal a team of people who are used to solving problems and finding solutions to the challenges of moving to a big city. We are waiting for you!