How to open a bank account in Spain as a British citizen? Full guide for 2024
Spain is a hugely popular destination for people from all around the world - looking to travel, live or retire overseas. As a result you’ll find many Spanish banks have some options for non-resident bank accounts which cater to many foreigners who live part time in the country. However, non-resident accounts do come with relatively high fees - and to open a full account with a Spanish bank you’ll usually need to be a resident with a suite of paperwork.
The good news is that there are a few different options for EUR accounts - whether you’re in Spain already, planning a move, or just love to travel there. You might even find that you can cut your costs - and get a more flexible account - if you ditch banks entirely and choose a specialist online provider like Wise or Revolut instead. More on that later.
Can I use my UK bank account in Spain?
Whether or not you can use your UK bank account in Spain depends on the specific bank, and also whether you change your tax residence to Spain. If you’re moving to Spain permanently, and becoming a Spanish tax resident, your bank may ask you to close your account if they only offer services to UK residents.
If you’re keeping the UK as your normal residence and would prefer to use your UK bank account both in the UK and Spain, this is probably possible. Most UK banks allow customers to access their account through online and mobile banking from anywhere in the world, and you can also spend and withdraw with your bank card wherever the card network is accepted. However, it’s important to realise that using your UK bank in Spain might end up incurring extra fees, including a foreign transaction fee on all overseas spending which can be 3% or so, and international ATM charges if you need cash.
What documents do I need?
The exact documents you need to open a Spanish bank account will depend on the bank itself, and whether you’re looking for a regular account as a Spanish resident, or a non-resident account aimed at people in the country part time.
For a full resident account in Spain you’ll usually be asked for:
Government issued proof of ID
Proof of address
Número de identidad de extranjero (NIE)
A recent payslip to show the source of your funds
Other information based on the account type: a tax return or employment contract for example
Proof of address may be a recent utility bill in your name, a bank statement or some official government correspondence. Your own bank will let you know exactly what documents are required to open the account you’ve chosen. It’s common in Spain to need to visit a branch to present your paperwork and get your account organised - although more banks do let you open accounts online these days. Check with the bank you select to see if this is possible for you.
How to open a bank account in Spain as a foreigner
It’s common to open your bank account in a branch in Spain - although some banks do let customers get set up online. Check with the bank you prefer, to see if online account opening is an option. If not, remember to ask for an English speaking customer service representative - or take along a translator - if your Spanish isn’t great.
As a foreigner opening a bank account in Spain you may find you have different account options compared to a local resident. If you’re a full time tax resident in Spain you may be able to choose from the bank's full range of account products. But if you’re not a full time resident, you may be only eligible for specific non-resident account products which can work differently.
Whether you’re applying in person or online, the basic steps to open a bank account in Spain are typically:
Research banks and pick the right account for you
Check eligibility and gather all the required paperwork
Apply online or in branch
Hand over or upload your documents to complete the verification process
What do I need to know before opening a bank account in Spain?
Bank accounts are offered by Spanish banks which can be opened by non-resident customers. However, you’ll still often need to visit a branch - either immediately when you apply for your account, or shortly after - to actually get full access to your non-resident account. You may also need to provide more documentation than is typically needed for resident accounts, such as proof of employment or a certificate confirming you are not a resident of Spain.
Can I open a bank account in Spain only with my passport
You can not open a Spanish bank account with only a passport. In Europe, as in the UK, banks must verify customer identity and this is almost always done with additional documents such as a proof of address or information about your employment or income.
Which account is best in Spain for foreigners?
Let’s look at a review of the best bank accounts in Spain for foreigners, featuring Santander - one of the biggest banks in Spain and a couple of online providers for comparison.
| Service | Wise | Revolut | Santander |
|---|---|---|---|
| Currencies covered | 40+ currencies including EUR, GBP, USD and AUD | 25+ currencies including EUR, GBP, USD and AUD | EUR |
| Non-resident accounts available | Yes | Yes | Yes |
| Open online | Yes | Yes | Non-residents usually need to visit a branch. Online opening is not usually an option |
| Maintenance fee | Free | 0 GBP to 45 GBP/month | 0 EUR - 20 EUR/month. Options to reduce or waive the fee available |
| International transfers | Low fee, varies by currency | SEPA payments are free Elsewhere, fee varies by currency and payment value | Standard online SEPA payments are free Non-SEPA payments cost 0.7%, minimum 20 EUR Exchange rate markup applies |
*Data correct at time of writing, 26th November 2024
Wise
Wise accounts are designed for use online and in app, and come with the option to hold 40+ currencies, send payments to 160+ countries, and get local and SWIFT account details to get paid conveniently from a selection of countries, including Spain and the UK.
Get a Wise account for yourself or your business, and use your linked debit card for easy spending and withdrawals. Whenever you need to switch between currencies you can do so within your account using the mid-market exchange with no markups and no hidden charges.
Get a Wise account for yourself or your business, and use your linked debit card for easy spending and withdrawals. Whenever you need to switch between currencies you can do so within your account using the mid-market exchange with no markups and no hidden charges.
Account types: Both personal and business customers can open a Wise multi-currency account with no minimum balance or monthly fees to pay. You just pay a low, transparent fee for the services you use.
Eligibility: Wise offers accounts to customers in the UK and a broad range of countries - simply use your UK proof of address to get your account open and access EUR bank details to get paid with no Wise fee, hold a EUR balance and spend with your card.
How to open an account with Wise
To open a Wise account:
Download the Wise app or open the Wise desktop site
Click Sign up and create an account with your email, Facebook, Google or Apple ID
Follow the prompts to enter the details needed
Upload a snap of your ID and address documents
Once your account has been verified you’re good to go
Revolut
Both personal and business customers in the UK can open Revolut accounts which can hold and handle 25+ currencies including GBP and EUR. Personal customers can get a Standard account which has no monthly fee, or upgrade to a higher tier for more features and higher transaction limits. Personal plans run to £45/month for the top tier of account.
Revolut accounts have a lot of helpful features aside from multi-currency functionality. You’ll be able to earn interest on savings, open <18 accounts for your kids, and even more if you upgrade to a top tier plan.
Account types: Standard account plans have no monthly fee or you can upgrade to a higher tier plan for up to £45/month.
Eligibility: Available to customers with addresses in countries and regions including the UK, the EEA, Australia, Singapore, Switzerland, Japan, and the US.
How to open an account with Revolut
To open an account with Revolut:
Download the Revolut app
Enter your phone number and set a PIN - you’ll get a verification message from Revolut
Use the verification code to access the app and enter the details needed to create your account
Upload the required documents for verification
You can deposit funds and use your account once verified
Santander
You’ll probably already be familiar with Santander as a familiar presence on the British high street. As a large Spanish bank, Santander has a full range of account and card options for Spanish residents with proof of ID and address, and one account - the Santander Account - which is also available for non-resident customers.
The Santander Account may be an attractive option if you’re not a resident in Spain full time, but do need a handy euro account. This account comes with a monthly maintenance fee which could be up to 20 EUR, but there are ways to reduce or waive this depending on how you use your account. You’ll also get a debit card for easy spending and withdrawals.
Account types: Accounts available for both Spanish residents and non-residents
Eligibility: If you’re not a Spanish resident you’ll need to open the Santander Account - if you’re a resident you’ll be able to take your pick from a broad range of account options
How to open an account with Santander
To open an account with Santander:
Choose the account you want online
Gather the documents needed
Visit a Santander branch to show your paperwork in person and apply
What is a bank account in Spain needed for?
Many Brits may find a Spanish bank account useful if they travel frequently to Spain, own a holiday home there or even live full time in the country. However, a Spanish bank account can be useful for other customers too, including people who spend in euros frequently or anyone who needs to send or receive payments from the eurozone.
Benefits of opening a bank account in Spain
Using a Spanish bank account can mean transacting in euros is cheaper as you’ll be able to avoid unnecessary currency conversion. Here are a few important benefits:
No foreign transaction fees when you spend in euros
You can receive payments from others in euros and hold the balance without converting
Sending money to others in EUR within the SEPA zone is often cheap or free
Can I open a bank account in Spain before arrival?
It’s not often possible to open a full account in Spain before you’re physically there. Even with the non-resident accounts offered by major Spanish banks, you might need to physically visit a branch in Spain to get started. You may also have to apply for a certificate of non-residency and your Spanish tax ID number. While this can be done outside of Spain you’ll need to visit the UK’s Spanish Consulate to get set up - making it even more complicated to access an account.
If you’re looking for an easier, more flexible alternative to manage your money in euros before you get to Spain, check out an online specialist like Wise or Revolut.
Can I open a bank account online?
Generally if you are not a resident in Spain full time for tax purposes, you will not be able to open a bank account in Spain online. You will be asked to go to a branch with your paperwork to get everything arranged.
If setting up your account digitally is something that’s important to you, you may find that an account from a fully digital provider like Wise or Revolut is easier. Digital first providers like these have a fully digital application, verification and onboarding process which you can manage with just your phone or laptop.
How long does it take to open a bank account in Spain
How long it takes to open your Spanish bank account can vary between providers. If you’re in a bank branch and have all the documents needed, you may be able to get verified instantly to access your account. However, online applications may take a bit longer as you need to wait for your card to arrive in the post.
What are the types of bank accounts in Spain
In Spain you’ll usually find that account products are split in roughly the same way as in the UK. There are day to day transaction accounts, which are like UK current accounts, and products for saving.
Within these categories, there are accounts which target different customer niches. For example, you’ll find online only current accounts, basic accounts, accounts for children, and full service current accounts. It’s important to note residence rules before you pick an account type. For Santander as an example, if you do not live in Spain full time, you can only open the full service current account. This has loads of great features, but it also has a monthly fee to pay.
How to choose a bank account in Spain
If you’re planning on opening an account with a Spanish bank you’ll need to shop around a little to find a service which offers the best value and service for your needs. Different banks have their own account types, which also have eligibility criteria you’ll need to look into. Make sure you’re looking at accounts which suit your residence, and then weigh up factors like the ease of use, options for online and mobile banking, and the costs associated with the account.
Compare Spanish banks against non-bank services from digital specialists like Wise and Revolut before you decide which account to pick. While Wise and Revolut are not banks, they do offer many ways to manage your money across both pounds and euros, with low fees and good exchange rates.
How much does it cost to open a bank account in Spain?
There’s not usually a fee to open a Spanish bank account, but you’ll often find monthly, quarterly or annual fees apply, particularly to accounts which are designed for non-resident customers. If you’re looking for an account with no ongoing charges, you may want to check out non-bank providers available from the UK, like Wise and Revolut, which both have accounts with no monthly fees which can hold and exchange both GBP and EUR.
Spanish non-resident bank accounts usually have maintenance fees to pay. If you’re a resident in Spain with a proof of address you may find you have a better choice of accounts where there’s no monthly fee, or where the fee can be waived if you meet eligibility criteria. However, even in this case transaction and service fees may apply, depending on how you use your account.
Is it possible to open a fee-free account in Spain?
It’s not usually possible to open a bank account which has absolutely no fees. You may find accounts which have no monthly charges to pay, which can help to keep down the costs overall. But generally there will still be transaction fees for some services, such as making an ATM withdrawal or sending money. Weigh up all the costs of any account you’re considering - particularly for the types of transaction you need to make often.
What are the additional costs?
Here are some of the types of fees you’ll need to watch out for if you open a bank account in Spain:
Monthly maintenance fee
Out of network ATM fees
International transfer fees - these often vary depending on how you arrange them and whether they’re in the SEPA area or not
Receiving fees for domestic and international payments
Foreign transaction fees
Cheque fees if you have a chequebook linked to your account
Tips for sending money between the UK and Spain
As a Brit who lives, works or travels a lot to Spain, the chances are that you’ll need to make international transfers from time to time. If you’re moving your money across borders check out these tips to save:
Banks typically use a marked up exchange rate - compare the exchange rate you’re offered against the rate you find on Google to check
International transfer fees can vary depending on whether you arrange the transfer online or in a branch, and whether or not you’re sending within the SEPA area
Review the terms and conditions of your specific account to check if it’s cheaper to send your payment online - this is usually the case
Don’t forget that third party fees may be deducted as the payment is processed, and can mean your recipient gets less than you expect
Compare the costs of sending money with a traditional bank against the fees and rates available from an online specialist provider. Often specialists have lower fees, a better exchange rate, and a faster delivery time compared to your normal bank.
Conclusion
Spain has a huge number of foreign full- and part-time residents - so it’s no surprise that the Spanish banking system has adapted to offer non-resident accounts alongside the full accounts on offer for people living in the country all the time.
The good news is that this means you’ll almost certainly be able to open an account with a Spanish bank. The bad news is that if you’re opening a non-resident account you’ll probably run into a relatively large number of fees - and you’ll need to open your account in a physical branch, too.
A simpler option - which doesn’t require any waiting in queues at a bank branch - is to opt for an alternative account with a provider like Wise or Revolut. Specialists can often offer lower overall costs, a better exchange rate, and an account more tailor made to people who live an international lifestyle. Use this guide to compare some options and find the right one for you.
FAQ
Yes. You can open some accounts with Spanish banks even as a non-resident. However, monthly fees may apply. It’s worth also looking at EUR accounts from non-bank services like Wise or Revolut which may have lower overall costs.
There’s not usually a fee to open your Spanish bank account, but you may need a minimum opening deposit, and monthly charges may also apply. Read your account terms and conditions carefully before you sign up.
As a non-resident you can not usually open a Spanish bank account online. If you’re a resident in Spain you may be able to access this service.
If you’re a Spanish resident you might be able to apply for a bank account online using your preferred bank’s website. If you’re not a resident, look at services like Wise or Revolut which offer a fully digital application and onboarding, instead.
You’ll likely find it difficult to open a Spanish bank account in advance, as you’ll need your NIE number (tax ID) and you may need proof of non-residence even if you’re not planning on moving to Spain full time. For EUR and GBP account services, look at providers like Wise or Revolut, instead.