Banks in Spain for non-residents: features, selection, and operational nuances.

Spain is not only a popular travel destination but also a country where many people move to study, work, or purchase real estate. One of the main tasks for foreigners, especially those planning a long-term stay, is choosing a bank and opening an account. Without a local bank account, it is often impossible to transfer utilities to your name, pay rent conveniently, receive a salary, or sign up for various services.

However, non-residents may face several questions and potential difficulties. For example, not all banks allow account opening without a Número de Identificación de Extranjero (Foreigner Identification Number), and sometimes bank employees do not speak English. It is also important to consider that fees for non-residents can be significantly higher than for residents, and these fees vary depending on the bank's policies.

Features of Spain’s Banking System for Non-Residents

Before choosing the best bank, it is essential to understand the general principles of Spain’s banking system. In the late 20th and early 21st centuries, the system underwent significant reorganization: Spain joined the European Union in 1986 and adopted the euro in 1999. The financial crisis of 2007–2008 severely impacted the mortgage sector, but today many banks have recovered and are actively developing online banking services.

For non-residents, two key factors must be considered: first, you need valid identification documents (passport or ID), and second, you must provide proof of non-resident status, as these accounts typically have specific tax conditions. If you later obtain resident status and a Número de Identificación de Extranjero, you must inform the bank immediately.

Additionally, most Spanish banks periodically request updated information about your status. Fees for non-residents are generally higher, and the range of banking services available to you may differ from those for residents. Therefore, it is important to clarify all conditions in advance and understand that many banks may require additional documents, such as a rental contract or proof of income.

What is the Número de Identificación de Extranjero?

The Número de Identificación de Extranjero is a unique identification number for foreigners, used by Spanish government agencies to track and register non-citizens. The absence of this number can limit access to certain banking products and services.

Required Documents

To open an account, non-residents typically need:

• A valid passport or other identification document.
• Proof of non-resident status (some banks allow you to provide this within 15 days).
• A work certificate or other documents proving financial solvency (depending on the bank's requirements).
• In some cases, a rental contract or a document confirming an address in Spain.

All documents must be translated into Spanish and, if necessary, certified. The exact list of requirements depends on the specific bank.

Best Banks in Spain for Foreigners

Several major banks in Spain actively work with non-residents. When choosing a bank, consider whether it offers English-language support, the amount of fees, and the convenience of its digital services. Below is a list of popular banks and their features.

Sabadell

One of the most recommended banks for foreigners. It offers a convenient online banking system and 24/7 technical support in English. A major advantage of Sabadell is that opening an account and obtaining a card is relatively easy, although additional documents may be required for long-term savings products. An important feature is that the bank has implemented higher security measures and does not print the CVV code on the back of the card; instead, the code is generated in the mobile app.

Santander

Santander is Spain’s largest bank, offering a wide range of services. To open an account without issues, a temporary residence permit is usually required. Advantages include relatively low fees for transfers and cash withdrawals from ATMs of other banks. To open an account, you may need a passport, a Número de Identificación de Extranjero (if available), and proof of address (rental contract).

BBVA

BBVA is one of Spain’s largest and most popular banks. It offers an easy-to-use mobile app with English-language support. While you can apply for an account online, you still need to visit a branch to verify your documents. BBVA is often recommended for non-residents as it is more flexible with foreign applications and offers special options such as student accounts or favorable mortgage conditions for foreigners with sufficient income.

Conclusion

Spain’s banking system offers foreigners a wide range of options for managing their finances. The conditions depend on your status (resident or non-resident), the bank you choose, and your specific needs (opening an account, obtaining a mortgage, investing). Researching different banks and selecting the best option can help you avoid unnecessary fees and make banking in Spain more convenient.