What is the best bank account to have in Spain? (2024)

What is the best bank account to have in Spain?

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.

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What is the popular bank in Spain?

Banco Santander

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Can a US citizen open a bank account in Spain?

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.

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What's the maximum amount you should have in a current bank account in Spain?

According to the OCU, in your main bank account, where you receive your salary, pension or other significant payments, you should have a maximum of three months of your salary. So for example, if you earn the minimum wage of €1,000 per month in Spain, then the maximum you should have in your current account is €3,000.

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What bank card is best for Spain?

6 travel money cards for Spain compared
ProviderTypeSpain ATM fee
RevolutDebitSome free withdrawals every month based on account tier, low fees after that
Post OfficeDebit2 EUR
MoneseDebitSome free withdrawals every month based on account tier, low fees after that
BarclaysCreditCash withdrawal interest rate will be charged
2 more rows
May 29, 2023

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Which bank to open account in Spain?

Banco de Sabadell - As a leading bank in Spain, Banco de Sabadell offers special services for foreign nationals, including two specific accounts for non-residents to get started, namely a Key Account and an Expansion Account. These are designed to offer debit and credit cards, free transfers, and translation services.

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What are 2 types of banks in Spain?

There are over 165 different banks and two types: bancos (private or publicly owned banks) and cajas (state owned banks, which tend to invest in local projects).

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Can I use my US Santander account in Spain?

All main adult bank current accounts can benefit from fee-free cash machines withdrawals at Santander branded cash machines in Spain, Germany, Poland, Portugal, Argentina, Brazil, Chile, Mexico, Puerto Rico, Uruguay, and the USA, when using a Santander personal debit card and choosing the local currency.

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What is the best free bank account in Spain?

N26 — Best Free Current Account

Because of its complete current account offering, we recommend N26 to just about anybody interested in low-cost banking. Residents of Spain and 20 other EEA countries are eligible to open an account. Account type: Current (Spanish IBAN). Total cost: €0 per month.

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Does Bank of America have branches in Spain?

Below you can find the local branches for BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY, MADRID BRANCH in Spain.

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Is there Chase bank in Spain?

1949: Chase National Bank makes its first loan to Spain, a US$25 million credit secured by gold. 1962: Chase Manhattan Bank opens a representative office in Madrid.

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Does Citibank have branches in Spain?

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country.

What is the best bank account to have in Spain? (2024)
What happens if I have more than $10000 in a foreign bank account?

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year. The full line item instructions are located at FBAR Line Item Instructions.

Do I need an NIE number to open a bank account in Spain?

FAQs on Opening a Bank Account in Spain

While having an NIE is commonly required for non-residents and some residents, there are banks in Spain that may allow you to open an account without it, particularly for non-residents or individuals who have not yet obtained their NIE.

How much cash can I pay into my Spanish bank account?

From 11 July 2021, no payment of over €1,000 (or the foreign currency equivalent) where one party acts as an entrepreneur or professional can be made in cash. If the payer is a natural person, can demonstrate that they are not a tax resident in Spain and are not acting in a professional capacity, the limit is €10,000.

Can I use my US bank card in Spain?

Yes, cards issued by U.S. Bank can be used in most foreign countries.

Which Spanish bank is best for non residents?

Top 3 Spanish Banks for Non-Residents
  • Banco Sabadell.
  • Banco Santander.
  • BankInter.
Mar 13, 2023

Do US debit cards work in Spain?

Debit cards from any major US bank will work in any standard European bank's ATM (ideally, use a debit card with a Visa or MasterCard logo).

Which bank in Spain is best for expats?

Here are some of the best banks in Spain for non-residents.
  • BBVA Bank Spain.
  • Caixabank.
  • Santander Bank.
  • Sabadell Bank Spain.
  • Bankia Spain.
  • Revoult Spain.
  • N26 Online Bank.
  • TransferWise.

Is Santander a Spanish bank?

For decades it has established itself as one of the major Spanish financial groups, with the launch of innovative products (such as the “Supercuenta Santander”) and with successive acquisitions such as Banesto (1994), the merger with Banco Central Hispano (1999) or the integration of Banco Popular (2017).

Do I need a Spanish bank account to live in Spain?

If you are moving to Spain or plan to travel to the country frequently, you'll likely need a local bank account to go about your daily activities and to pay taxes. Fortunately, you have several options. Here's how you can open a payment account in Spain, or, alternatively, use a multi-currency account from Payset.

Can I open a bank account online in Spain?

Depending on the bank, you need to visit a branch in person to open the account. Some banks also offer online account opening services. Some Spanish banks have specific policies and fees for non-resident accounts.

Is there free banking in Spain?

BBVA. This is one of Spain's biggest banks, popular due to its fee-free current accounts⁸. Both its Fee-Free Online Account and Young Person's Online Account for students are open to both residents and non-residents. The main benefit of these accounts is of course, the fact that there is no monthly fee to pay.

What is the official Bank of Spain?

Bank of Spain
The Bank of Spain Building in Madrid, hosting the Banco de España since 1891.
HeadquartersBank of Spain Building, Calle de Alcalá, Madrid
Ownership100% state ownership
GovernorPablo Hernández de Cos
Central bank ofGovernment of Spain
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Does Santander charge fees in Spain?

Fees for debit card cash withdrawals from ATMs

Using ATMs on the Santander network in Spain: exempt. At ATMs belonging to other banks in Spain: Banco Santander will pass on the fee charged by the ATM owner, the amount of which will be indicated on the ATM screen prior to completing the transaction.

References

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