It’s been a while since we wrote our biggest ‘banks for expats in Spain‘ hit – 2017 is just around the corner and it’s time for an updated version! If you’re moving to Spain in the next year or two, catch up on some of the best banks for expats in Spain. We’ve made sure we included all updated processes and made it easier for you to navigate through the most important facts.
Here are some of the best banks for expats in Spain!
Sabadell is one of the easiest banks to open an account as an expat in Spain. The opening process is similar to any other bank and English services are available on the website as well as their 24-hour phone support. The only negative aspect of Sabadell is that it’s fairly difficult to set up a deposit account for those trying to save money. They recently stopped with their code card system you had to use for online purchases – you now receive a code through Sabadell app on your phone.
Documents you need to open a bank account: NIE and proof of employment. Proof of home address might be asked but I haven’t come across this when opening my own bank account.
Best benefits for expats: Cuenta Expansion (with overdraft services available), 24/7 phone service with English speaking staff available, really easy online banking
The biggest benefit of ING is that it allows you to open a bank account online. The bank has no fees or charges, however, please note that it doesn’t have any English-speaking services. The bank has three main accounts available – Cuenta Naranja, Cuenta Nomina (you need to deposit your salary to this account) and Cuenta Sin Nomina for autonomos in Spain.
Documents you need to open a bank account: NIE, proof of employment, proof of home address
Best benefits for expats: Online banking is available, Cuenta Naranja – you don’t need to deposit your salary into this account and can easily use ING as your secondary bank.
3. Evo Banco
Evo Banco is for those who come do some serious work in Spain. An account for non-residents is not allowed and the website’s services recently went back to ‘Spanish only’ as reported by its users. Those under 28 are eligible for a ‘Cuenta Joven’ no-fee account while other option, Cuenta Intelligente, requires you to pay at least 5 bills every month.
Documents you need to open a bank account: Proof of residency, NIE, proof of home address, proof of employment. Make sure all documents are translated to Spanish.
Best benefits for expats: 0% foreign currency conversion fee, free withdrawal from foreign ATM (there is a limit of 4 withdrawals per month – perfect for expats going home often).
And I can’t not mention one of the biggest banks in Spain – Santander. It is a bit more difficult to open an account with Santander as a non-resident, however, you can easily obtain a temporary NIE to make the situation easier.
Documents you need to open a bank account: Passport or NIE, certificate of non-residency (if applicable), proof of home address (utility bill letter or rental contract), proof of employment
Best benefits for expats: Free bank transfers and extremely low fees when withdrawing from other ATMs.
This is a fairly new service and I’m not going to lie – I’ve only heard about it recently. From what it seems like, this startup is trying to reinvent the way banking works. I can’t yet comment on the actual use of the card (the article will be updated after I’ve used it for a few months), but the verification process is pretty straightforward and perfect for those moving to Spain short term. You can use the service in most European countries, except for United Kingdom (as of 6.12.2016).
Documents you need to open a bank account: An identification (ID or passport) is required to be shown on a video call or a copy needs to be send by post.
Best benefits for expats: The card works everywhere where Mastercard is accepted. Free account. Free cash withdrawals. No charge on foreign transactions.