Setting up your banking in Spain is one of the first practical steps after arriving. You will need a Spanish bank account for direct debits (rent, utilities, insurance), receiving any Spanish income, and tax payments. You will also want international transfer services to move money from your home country efficiently.
Spanish Bank Account
To open a Spanish bank account, you typically need your NIE number, passport, and proof of address (empadronamiento). The main options are:
- CaixaBank — The largest retail bank in Spain by assets (especially since its 2021 merger with Bankia); strong digital banking and wide ATM network
- Santander — One of Spain’s largest banks; wide branch network and international reach
- BBVA — Another major Spanish bank; extensive branch network, decent English-language support
Most traditional Spanish banks charge monthly maintenance fees (3-10 EUR) unless you meet minimum direct debit or balance requirements.
International Transfer Services
For moving money between your home country and Spain, traditional bank wire transfers are expensive (high fees + poor exchange rates). Instead, expats overwhelmingly use:
- Wise (formerly TransferWise) — The most popular choice. Uses the real mid-market exchange rate with transparent, low fees. You can also get a multi-currency debit card.
- Revolut — All-in-one banking app with great exchange rates on weekdays. Popular for daily spending in Spain.
- N26 — German online bank available in Spain. Can be opened with just an NIE, no Spanish address required initially.
Recommended Setup
Most expats end up with a three-account setup: a traditional Spanish bank for direct debits and local payments, Wise for international transfers and the best exchange rates, and Revolut or N26 for daily card spending.
Set Up Your Banking
Set up banking for your life in Spain
Our partners help you open Spanish bank accounts, transfer funds at bank-beating rates, and manage cross-border finances.
Compare banking and transfer options →Disclaimer: The information on this page is for general guidance only and does not constitute legal, tax, or immigration advice. Immigration rules, consulate requirements, and financial thresholds can change without notice. Always verify current requirements with your specific Spanish consulate and consult a qualified immigration lawyer or tax advisor before making decisions based on this content. We make every effort to keep this information accurate and up to date, but we cannot guarantee its completeness or accuracy at any given time.