Best Bank In Spain For Non Residents?
- Víctormanuel Paz
BBVA Bank Spain – When it comes to opening a bank account in Spain and particularly for non-residents , the BBVA Bank Spain is definitely a choice to have in mind. This financial group is the second largest and most relevant in the whole country, created in 1857 and fused with Argentaria Bank in 1999, having operations in over 30 countries and including South America.
In terms of services, the BBVA bank makes easy to use its services through the mobile app, in terms of transactions and money transfers, service payment and even account opening, all through the application where BBVA online banking Spain really shines.
There is also the chance for expats to open the Non-resident bank account BBVA bank, and therefore starting having the benefits of being integrated into the financial system of the country, with basic requirements.
Can I open a bank account in Spain as a non resident?
Yes, a foreign non-resident in Spain can open a bank account. To do so, they must take an ID document (normally a passport) and a certificate of non-residency to any of our branches. Other documents may be requested according to the product they wish to contract.
Your Santander branch will inform you of the characteristics of the current account that best suits each person. To get a Certificate of non-residency , the person must go to their closest Police Station or Foreign Office with their passport and the relevant forms and pay a fee.
If the person is abroad, they can apply for the certificate at a Spanish Consulate. The certificate takes approximately one week to be issued and is valid for three months. If you do not live in Spain and would like to know more about the non-residents account, click here.
Which bank is best for non residents?
What is the cheapest bank in Spain?
N26 – Best Low-Cost Bank in Spain for 2021 Since April 2019, N26 gives its Spanish users a Spanish IBAN account, so you will be able to use the bank for any direct debits as you would use other Spanish bank accounts.
Are there any free Spanish bank accounts?
N26 – Cuenta N26 – The German bank N26 also offers a free account with a Spanish IBAN bank identification code. This offer includes a virtual debit card with discounts on some purchases. Clients can also request a physical debit card, the cost of which is a single payment of 10 euros.
Can I open a Spanish bank account without an NIE number?
Can I open a bank account without a NIE? – Yes, depending on the type of bank you are able to open a bank account without your NIE number. Some banks that offer the possibility to open a bank account without a NIE number: LaCaisa , Bankinter , Santander and Sabadell.
- Get in touch with the bank of your preference to see what the possibilities are;
- Now, are you ready to spend (or earn) your money in Spain? Explore what are the best places to live in Spain;
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Can I open a non-resident Spanish bank account online?
Open a bank account even you are not living in Spain – Yes, you can apply for a resident’s bank account online. In some cases, you can also apply for a bank account as a non-resident online. Either way, you will need to visit a branch or meet with a financial advisor to submit the paperwork. In order to that you will have to follow the next steps:
- Enter the bank’s website: Access the website of the chosen bank and follow the guidelines for opening an online account. In many cases you will be offered the possibility to download the app (Ibercaja, CaixaBankNow or Imagin Bank app, among other examples).
- Fill in the customer form: Hand in a copy of your ID card and fill in your address, telephone number, email address, account type and number of account holders.
- Validation of the data and identification , either by means of a video selfie, a photograph, with the account number of another bank or by means of a messenger who will come to your home.
- Description of the economic activity: Fill in the details of your annual income, current occupation, professional activity or company name and address (in the case of an account of this type).
- Download and signature of the contract: Once the data has been validated, the contract will be sent to your bank account by e-mail. The signature is done by entering the verification code sent by the bank via SMS to your phone.
- Creation of the access passwords: Both the passwords to enter the account and the passwords you will use to carry out other banking transactions.
Which bank is best for expats?
7 Best Banks for Expats and Travelers
|Bank||* Foreign Transaction Fees||Minimum Balance|
|Capital One 360||$2 + 3%||$0|
Can you open a bank account if you are not a citizen?
Bottom line – The banking industry’s traditional identification requirements may seem like a barrier to non-U. citizens when trying to open a bank account, but numerous banks and credit unions accept alternative forms of ID to make it easier. Though obtaining an ITIN does mean some extra work, the ability to open a checking account and savings account — and in some cases, apply for a home loan — can make a meaningful difference in achieving financial security.
What bank is best for immigrants?
The First Step – Opening a bank account is an essential step in your new financial life, but it is just the first step. Upwardli can help each step of the way! We can help you find the financial services and the service providers you need to recreate your financial life in your new home.
Which bank in Spain is best?
POPULAR SPANISH BANKS AMONG EXPATS – Spain is a hotspot for many expats who wish to live and work abroad. However, to be able to work abroad it requires the individual to have a local bank account in order to be paid. It is also important to have a bank account that will be in local currency so that all services can be paid, such as rent and utilities.
- BBVA Bank Spain
Having great choices for banking is nice to have, especially if you are a non-resident or expat. With BBVA you get an account with the second largest Spanish bank that is recognized throughout Spain. Do you want to live in Spain? Our law firm has more than 15 years of experience. Contact Us Now! All services provided by BBVA are simple to use and are acessible through a bank branch or mobile app.
- The determining factors of which banks for expats will be the best rests on the services offered, account types and approach the bank takes towards each expat;
- With this in mind, below we have listed some of the best bank in Spain to use while living in Spain;
Some of the services provided by BBVA include new account openings, fund transfers, wire transfers, and loans. All expats are eligible to open a non-resident account by supplying necessary identification and making any initial deposit that may be required.
- Santander Bank
Another great bank that provides the best service possible is Santander bank. Besides offering great bank accounts in Spain, it is also considered one of the best known throughout the spanish banking system. Their solutions and services are easy to use so that transactions run smoothly. This smoothness allows for easy and fast account opening so that the expat can make deposits, withdrawals, and transfers without waiting long.
- Sadabell Bank
Being a large financial institution in Spain makes Sadabell a great option for your banking needs. Sadabell easily supplies services for commercial and industry-specifgic purposes. It is particularly good for foreign entrepreneurs looking for a headstart in Spain. Expats and non-residents will also benefit by easily openig an account and funding it. Once an account is established, a debit card will be issued as well as online banking access.
Having banks for expats, such as Santander is a nice benefit to have once you have opened an account, which is an easy process all in itself. If you are looking for a bank that not only caters to the customer as one of the best spanish speaking banks, but English as well.
Having the bilingual ability makes the entire paperwork trail much easier to navigate through without any misunderstandings. Do you want to live in Spain? Our law firm has more than 15 years of experience. Contact Us Now!
As a newer bank, Bankia has quickly made a name for itself among the locals. With Bankia, it is comprised of multiple financial institutions to create one. This combination is commonly refered to as an ISP. Expats and other non residents of Spain will love how Bankia is able to provide excellent service and results due to the offering of a system known as On Account.
With On Account an account holder is able to enjoy commission-free transactions as well as no minimum amount. Best of all is that an account is able to be opened through the website and also provides the same service as a local branch would.
The staff is friendly and capable of speaking clear English.
With its main branch located in Madrid, Bankinter is listed on both the Ibex35 Index and Madrid Stock Exchange. Known as a bank for today, Bankinter leads a world of technology that provides each client with equal oportunities for account ownership and making transactions through ways such as their local branches, online portal, and telephone banking. Account opening requires a €45 balance to maintain the account.
- All transfers conducted online are cheap and are only 26 cents for all amounts no more than €50,000;
- Expats who want to conduct a phone transfer of money, then a charge of 26 cents plus 0;
- 05% will be added;
The maximum charged will be no higher than €250. For branch transfers a fee may be 0. 25%. The good thing is that an account holder is able to obtain funds at no charge if the account is foreign.
- Open Bank
At Open Bank the account holder needs to have spanish residency first in order to open and fund an account. No current requirements exist before a free account can be opened. No minimum deposit is required. They provide a service known as “Cuenta Nomina,” and calls for a monthly 900 euro exchange. Open Bank has no penalties to worry about, which keeps money in your pocket.
- Do you want to live in Spain? Our law firm has more than 15 years of experience;
- Contact Us Now! Open Bank allows its account holders to make ATM withdrawals from Santander bank;
- This is good because many of the ATMs can be located easily throughout the country;
You wil be charged a 75 cent fee for any other ATM you use. While the benefits of opening an Open Bank account are plentiful, the greatest benefit is the ability to utilize Santander bank and make deposits two times a month at no charge. If you need to make more deposits, then a 1 euro fee will be assessed for each aditional deposit.
CaixaBank has made a huge impact with financial lending throughout Spain and manages more branches than any other bank. More than 15 million account holders are served throughout the more than 5,000 branches. Other than being able to supply one of the best spanish bank accounts to you, they pride themselves in owning other companies within the telecommunications and gas/oil industry.
Merged from three other banks, KutxaBank cam about due to a lengthy integration and deliberation that the government of Spain set forth. With current operations located in Extremadura and andalusia, KutxaBank was named the best bank in Spain despite the crises felt among the financial sector throughout 2014.
- ING Bank
ING is one of the best banks known internationally and within Spain. A benefit that many expats enjoy the most with ING is the high quality online banking. This also means an account can be opened online and funded. Not only that, but having very little commission involved says a lot too. The downside is that it is one of many spanish speaking banks only.
- ATMs are unlimited access and you will always be close to an ATM;
- A foreigner is able to establish 3 different account types;
- These types include one for self-employed individuals, an account for transfers, and a savings account;
Do you want to live in Spain? Our law firm has more than 15 years of experience. Contact Us Now!
- Evo Banco
Another one of the best spanish speaking banks is Evo Banco and also caters to those who have residency within Spain. No matter what, a non-resident will not gain acceptance to an account. The bank also removed the avaialbnle languages that it served to only reflect spanish. One benefit that Evo provides is the ability to receive nocommission on anacount that is opened before the age of 28.
What are the safest banks in Spain?
How much money do you need to open a Santander bank account?
Compare Santander Checking Accounts
|Account||Santander Select® Checking||Santander® Basic Checking|
|Minimum opening deposit||$25||$25|
|ATM withdrawal fee (domestic non-Santander ATM) 2||$0||$3|
|Free Paperless Statements?||Yes||Yes|
|Paper Statement Fee||$0||$3|