A list of banks in Spain

If you’re moving to or spending time in Spain, then you’ll want to find a cheap and convenient way to manage your finances.

Opening a Spanish bank account might be one of your first tasks when you arrive, but which one is best for you?

We’ve put together a list of top banks in Spain and details on how to go about opening an account.

We’ll even show you an alternative to a bank which could save you money - the Wise account.

So, let's begin.

Banking in Spain (an overview)

In Spain, the national banking authority and regulator is the Banco de España. It oversees a market that is a mix of private, state-owned, international, cooperative and mobile banks.

There are about 141 individual banks in Spain (which includes 80 foreign banks).¹ Most of them now offer online banking, along with mobile banking.

The good news is usually banks in Spain will let you open an account before you arrive. If you open an account this way you’ll need to apply as a non-resident, often with a certificate of non-residency.¹

To open an account (before or after arriving) you may also need:¹

• Photo ID (e.g. passport)
• Proof of address
• Spanish NIE number (if resident).

Many Spanish current accounts come with a fee, which works out at around €12–15 a year.¹ Some banks do offer zero-fee accounts, so it’s worth checking if these meet your needs first.

You’ll usually find that the larger banks' ATMs are free to use, unless you use foreign cards, then there are often transaction and currency exchange charges.¹ And like banks in other countries, Spanish banks tend to charge high fees for international money transfers outside of Europe.

To avoid added expense, consider an alternative solution such as the Wise account. It’s ideal for international transactions, and could prove a lot cheaper.

Top 5 popular banks in Spain

Now, let’s look at the best options when choosing a bank in Spain.

Here are some of the biggest and most popular Spanish banks serving retail customers:

Bank name	Operational HQ
Santander Bank	Santander
BBVA Bank Spain	Bilbao & Madrid
Banco Sabadell	Alicante & Barcelona
Bankinter	Madrid
CaixaBank	Valencia, Madrid & Barcelona

Santander Bank

Santander Bank is currently the largest in Spain in terms of assets, with a wide-reaching international presence.² If you already bank with Santander in your home country, it may be easiest to use them in Spain too.

Santander offers both current and savings accounts, and even has a World Account designed specifically for non-residents.

You can manage your World account remotely online and in the Santander app. You also get a debit card, as well as commission-free transfers and ATM access in Spain (as well as 30,000 ATMs around the world).³ Other Santander accounts include the Basic Payment Account and mini Account for 0-17 year olds.

Santander also provides a selection of credit cards, as well as mortgage and insurance options.

BBVA Bank Spain

Another big name in Spanish banking is BBVA. It offers current accounts, a selection of credit and debit cards with high levels of security and control, along with savings, investment and mortgage products.

It offers a zero fee BBVA online current account, which is also available as a joint account.⁴ The Aqua debit card and cash withdrawals (at BBVA ATMs) are also fee free with this account.

As a new BBVA customer, you can take advantage of a monthly €35 EUR reimbursement for 6 months, if you choose to pay one of your electricity, gas, telephone or internet bills by direct debit.⁴

BBVA has a highly-rated mobile banking app, ranked best in the world of the large banking retailers by a 2017 study.⁵

Banco Sabadell

Banco Sabadell is a great bank for expats, whose multi-lingual team of agents specialise in the needs of internationals as well as Spanish customers.

It provides a range of products including current and savings accounts, debit and credit cards (which can be managed through the Banco Sabadell mobile app) and insurance.

Its main current account offers include the Key Account for non-residents and Sabadell account for those starting a new life in Spain.

Bankinter

Bankinter is a smaller Spanish bank, which has undergone recent growth. It prides itself in its customer service and offers a range of personalised financial products.

These include the Currency account and a range of zero-fee personal accounts including the Payroll, Non-Salary, Youth-Salary and Pension accounts.⁶ Bankinter also offers a wide selection of mortgage products and investment options.

CaixaBank

CaixaBank is ubiquitous on the high streets of Spain, having the largest number of branches of Spanish banks (4,263 across Spain and Portugal).⁷

It offers the full range of financial products for retail customers. This includes current and savings accounts and a selection of debit, credit and prepaid cards. Plus, investment products, insurance, mortgages and pensions.

The bank has a choice of three personal accounts. There’s the Commission-free online account, a fully digital account with a debit card and no commission or maintenance costs. Other options include a Current account and Basic payment account.

Top online bank accounts in Spain

Along with traditional banks, there are also digital banks operating in Spain. These are often cheap options and allow banking in multiple languages.

Popular in Spain are:

• N26. A fully digital bank offering customers a zero fee bank account, which is app based and comes with a free Mastercard and a Spanish IBAN number. An account with N26 can be opened from your phone with no paperwork.
• Revolut. Digital bank Revolut offers a choice of monthly plans, starting with a basic free Standard plan. All include a debit card and app-based banking services.

Manage your money internationally? Check out the Wise account

If you want to send money internationally, you could find it expensive with a Spanish bank.

The good news is that there’s a money-saving alternative available. Open a Wise account, and you can send money worldwide, to 150+ countries for low fees and fair exchange rates.

You can even get an international debit card for spending in 150+ countries, including Spain. It automatically converts your money to EUR at the mid-market exchange rate and a low conversion fee, whenever you spend.

This makes it ideal for anyone living an international life, whether moving, studying or travelling overseas.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. Expatica - Guide to banking in Spain
2. Statista - Leading banks in Spain by total assets
3. BancoSantander - World Account for non-residents
4. BBVA - Fee free Online Account
5. Expatica - Mobile banking in Spain
6. Bankinter - Bankinter accounts
7. CaixaBank - About us

Sources last checked on date: 02-Aug-2023