Online banks in Spain: advantages, key features, and best offers.

Main Issues When Choosing an Online Bank in Spain

Online banks are rapidly gaining popularity, but users often face several challenges:

• Lack of trust in a bank without physical branches. Many people fear they won’t receive traditional customer support.
• Concerns about the security of savings and guarantees of fund protection in case of unforeseen circumstances.
• Uncertainty about hidden fees or complex terms of use.
• The need for an account suitable for travel, handling multiple currencies, or making international transfers without excessive charges.
• Lack of knowledge about managing finances entirely in a digital format.

Solutions Offered by Online Banks

To address these concerns, neobanks (digital banks operating exclusively online) provide accessible and user-friendly services:

• 24/7 customer support: assistance is available via chat, phone, or email.
• Deposit guarantees: many neobanks hold a European banking license and guarantee deposits up to €100,000.
• Fee-free accounts: most accounts have no maintenance fees, and free SEPA transfers and debit cards are often included.
• Travel benefits: favorable conditions for currency transactions and international transfers with minimal fees.
• Quick account opening: the process takes less than 10 minutes via a mobile app.

Best Online Banks in Spain in 2025

Below is a review of the leading digital banks and their unique offers for different types of clients.

1. N26

N26 is one of Europe’s top digital banks, with over 1 million customers in Spain.

• Free accounts and premium plans: no conditions for opening an account, with both virtual and physical cards available.
• Ideal for travelers: free SEPA transfers and cash withdrawals in the eurozone.
• Interest on savings: earn up to 2.26% annually (TAE).
• Bizum integration: access to the popular Spanish payment service and a Spanish IBAN for direct payments.

2. BBVA

BBVA offers an online account with no fees and free debit cards for new customers.

• No fees: suitable for users without the need to link their salary.
• User-friendly app: tools for managing expenses and transactions.
• Bonuses: financial incentives available for new customers through promotional programs.

3. Revolut

Revolut is a well-known British neobank specializing in multi-currency accounts and international transfers.

• Multi-currency support: payments in over 28 currencies with no fees.
• Free withdrawals: up to a certain limit, after which a small fee applies.
• Deposit protection: funds are secured up to €100,000 under its EU banking license.
• Additional perks: cashback and discounts on premium plans.

4. EVO Banco

EVO Banco offers flexible solutions for modern users.

• Smart account: combines a current account and savings account with interest up to 2.85%.
• Flexible card: functions as both a debit and credit card.
• Free ATM withdrawals: access to a network of 18,000 ATMs in Spain.

5. ING

ING is a well-established bank offering free services with no hidden fees.

• No maintenance fees: free card and online banking transactions.
• Interest on balance: savings account with interest rates up to 1%.

6. Openbank

Openbank, part of the Santander Group, combines traditional banking reliability with digital convenience.

• No hidden costs: no fees for account maintenance or SEPA transfers.
• Customer support: digital service accessible through the mobile app.

How to Choose the Right Bank

Before deciding, consider the following factors:

• Spanish IBAN: whether you need it for your transactions.
• Fee structure: costs for transfers, maintenance, or ATM withdrawals.
• Interest on deposits: if you want to earn money on your balance.
• Foreign currency transactions: if you frequently make payments abroad.

Conclusion

Online banks have become an essential part of Spain’s financial ecosystem. Their services are ideal for travelers and those looking for cost-effective savings and daily payments. Evaluate the available options to select the bank that best meets your needs. If you plan to stay in Spain for a long-term residency, ensure that your chosen bank provides necessary services for non-residents without complications.