Remote or branch
Only two banks, Santander and CaixaBank, have a clearly documented way to open an account before you arrive. Several other good options need one branch visit in Spain, which is fine if you can plan for it.
Banking guide for expats
Banking in Spain for expats
By Linus Palmqvist, Head of Operations Reviewed by Simon Nilsson Last reviewed The right account depends on more than a brand name: where you are in your move, whether you can visit a branch, what it costs, and how much English support you need. Start with your situation, then compare what actually fits.
Clear comparison and guidance, without a fake universal winner.
Banking in Spain: what to expect
There is no single best bank in Spain. What you can open, what it costs, and how easily you can get help all depend on your situation. These are the differences that matter most before you choose.
Fees vary a lot
Some accounts have no maintenance fee. Non-resident accounts at traditional banks can cost more, and a few add a charge each time they re-check your non-resident status.
English support differs
Some banks list English in the app or run an English phone line. Others are mostly Spanish once you are past the app. It is worth checking before you commit.
With those differences in mind, the next step is to check which application routes are open to you now.
How banking options differ in Spain
A bank that is a practical option at one stage of a move can be the wrong fit at another.
Start with your stage of move
The useful question is not simply which bank is best. Start with whether you are before arrival, just landed, or already a settled resident.
Your ID number is not the whole picture
A Spanish tax and ID number is only an identification number. By itself it is not photo ID and does not prove you live in Spain. Some app-only banks keep saying no until you also have the physical residence card.
Do you really need a Spanish IBAN?
The legal answer is not what many people assume. See the IBAN facts below before making it a deciding factor.
Not planning to become a resident?
Owning a second home as a non-resident is a normal long-term choice, not a temporary stage. For an account to pay community fees, IBI (the local property tax) and utilities, use the before-arrival or just-landed options, depending on whether you can visit a branch.
Where Settlewell fits in
We do not open bank accounts and we do not act for you with a bank. What we can do is narrow the options to the ones genuinely open to you, and explain them in English.
What Settlewell can do
We help you work out which route fits your stage of the move, and what each bank actually asks for. You open the account yourself.
- Narrowing the options to the ones open to you at your stage of the move
- Explaining what each bank documents about eligibility and fees
- Setting out the difference between a Spanish IBAN and a foreign one
- Reviewing what the rest of the home will cost, and setting those services up in English
Leo and our team help you compare your options in English
You do not legally need a Spanish IBAN
A valid EU IBAN is legally usable for Spanish transfers and direct debits, so a Spanish account is a convenience, not a requirement. Rejection still happens in practice, especially with telecoms.
If it happens to you, there is a formal route. Tell the company it has to accept an EU account, then put your complaint in writing. If that gets you nowhere, take it to your regional consumer authority. Where the company refusing you is itself a bank or payment provider, it goes to Banco de España instead. Either way expect around three months, so most people open a Spanish account to get the service running and pursue the complaint in parallel.
Bank guides and comparison
Read a bank guide for its documented options, then compare providers by stage of move, account fee, investment access and English support.
Santander
The clearest documented remote passport option before arrival, subject to a country list.
Read guide
CaixaBank / HolaBank
A documented pre-arrival option with a later required branch confirmation.
Read guide
ING
A quick, no-maintenance-fee digital option once you are settled.
Read guide
Openbank
A fast resident-only option with no maintenance fee advertised.
Read guide
Bankinter
An assisted option with a dedicated English line, but incomplete public non-resident detail.
Read guide
N26
Usable from home now on its EU IBAN; an optional Spanish ES IBAN once you live in Spain.
Read guide
Revolut
Keep your home account now; a Spain-registered ES IBAN once you legally live here.
Read guide
Wise
Best for international transfers and currency conversion. It works as a companion account alongside a Spanish bank, not as a replacement for one.
Read guide
Planning your move to Spain?
Settlewell helps you make sense of the whole move in English, including how banking fits alongside your home and everyday essentials.
Leo and our team help you compare your options in English
Banking in Spain: common questions
Still have questions?
About this content
Written by
Head of Operations at Settlewell
Linus moved from Sweden to Málaga in 2021 and set his own home up here, so most of this he has already done the hard way once. Before Settlewell he spent years at Workwide, the cross-border recruiter that has helped over 10,000 people into jobs abroad, latterly as its Head of Recruitment and Operations. He speaks Spanish, lives in Málaga with his partner, and spends his days on the phone to Spanish providers.
Reviewed by Simon Nilsson, Founder & CEOLast reviewed
Sources and transparency
This hub routes to individually reviewed bank guides; each traces its own claims to the bank's official information, and every claim in this cluster traces to a dated, verified source rather than a guess. General banking-system facts on this page are checked against Banco de España, Spain's central bank and consumer-banking regulator. Settlewell is independent: this page does not rank or recommend banks, and we receive no commission for how banks are presented here.
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