Guide to Best Banks for Expats in Spain

It’s been a while since we wrote our biggest banks for expats in Spain. 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. From traditional Spanish banks to online app-based banks, here are some of the best banks for expats in Spain.

1. Sabadell

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

2. ING

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).

4. Santander

And I can’t forget to 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.

5. N26

N26 is Europe's first online bank. The company is on a mission to make banking easier, faster, and most importantly, modernised. Although many expats stick to traditional banks, opening a bank account with an online bank tends to be relatively easy. In order to improve the speed of money transfers, N26 is also partnered with TransferWise. In 2018, the bank also introduces a new feature that allows its users to save money.

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.

6. Revolut

Much like N26, Revolut is also a popular online bank with similar features. On top of everything N26 has to offer, Revolut also allows its users to take on personal loans.

Documents you need to open a bank account: All you need is your ID or passport.

Best benefits for expats: Extremely easy to travel with. Currency exchange. Track your spendings through the app.

What's your experience with banking in Spain? Let us know in the comments!