Working Holidays in Spain

Spain is one of the most sought-after European countries in terms of investment opportunities. Expats looking to live and work in Spain often flock to the country. However, without a local Spanish bank account, it can be difficult for them to receive payments or pay bills such as rent and utilities. So which Spanish bank is best for non-residents?

Despite the fact that Spain is home to several banking institutions, not all of them offer bank accounts for non-residents. In reality, only a handful of these banks provide such services. They are usually among the largest corporate names in the country with subsidiaries overseas and connections to various international banking systems. To better serve this niche market, some Spanish banks are now offering bank accounts specifically tailored for non-residents living within their borders.

What is the best bank for foreigners in Spain?

The Spanish banking system is known for its competitive rates and wide range of services. If you’re a non-resident living in Spain, you can open savings accounts, current accounts, deposit accounts and other services with certain banks.

The following banks are considered the finest for opening an account and overseeing all your financial activities, both in-person and online account.

Which Spanish Bank Is Best For Non-Residents? (5 of the Best)


1. Santander Bank: Non-Resident Mundo Account

As the largest bank in Spain, Santander boasts an impressive global presence with more than 10,000 branches across Spain. Santander has a large presence in Europe and Latin America as well as several subsidiaries overseas. The Santander Non-Resident Mundo Account is the most popular choice for international investors looking to open a Euro current account in Spain. It also offers access to a wide range of banking services, including online bank accounts, mobile banking, debit cards, and international money transfers. With Santander Bank, you can make deposits, withdrawals, and transfers quickly and without hassle. It is perfect for expats who need reliable banking experience.

2. Bankinter: Non-Resident Basic Account

Bankinter, a merger of two global banking giants (Santander and Bank of America), is the perfect choice for those who do not reside in Spain. With a Non-Resident Basic Account, you can enjoy the same benefits as other Bankinter customers without having to worry about any unnecessary paperwork. Bankinter’s customer service offers convenient online banking options and 24/7 customer care via telephone or email.

3. BBVA Bank Spain: Non-Resident Account

BBVA is the second-largest bank in Spain with a presence on a global market. For those seeking to establish a bank account in Spain, BBVA is the perfect option. It has several branches in more than 30 countries, especially in South America. The Non-Resident Account allows customers to open a bank account with minimal paperwork, enjoy exclusive offers on international money transfers and utilize a mobile banking app to have access to their accounts anytime, anywhere.

BBVA Bank also offers competitive interest rates on savings and deposits. It also offers a wide range of other banking services including debit cards, money transfer services, and online banking. Through this bank, non-Spanish citizens have access to an impressive variety of financial options including mortgages, insurance plans, accounts and investment funds – all tailored specifically to their needs.

4. Sabadell Bank: The Key Account

Sabadell Spanish bank is best for non-residents and is one of Spain’s largest, with a special presence in the United Kingdom, United Estates, and South America. The Key Account of Sabadell Bank is designed exclusively to satisfy the needs of their foreign clients in Spain.

For entrepreneurs looking to kickstart their business in Spain, Sabadell is the perfect partner that can easily provide services tailored to commercial and industry-specific needs. This is an invaluable asset for foreign enterprises. Expats and nonresidents alike can open accounts quickly and easily fund and transfer money.

The bank also offers services to both Spanish and English speakers and their bilingual capability makes the entire paperwork process much easier. One of the features that differentiate the Key Account from other non-resident accounts is that it offers up to 10 free document translation services to its customers.

5. Caixabank: HolaBank Account

As part of its international expansion plan, Caixabank launched a few years ago its new account for international clients called HolaBank. This bank is perfect for those who need a reliable money transfer service in Spain and offers the ideal solutions to satisfy their needs. Caixabank has designed an account tailored for non-residents, with a variety of features that include no minimum balance requirements, free international transfers, and access to a wide selection of domestic and foreign financial products.

The bank’s goal with this product is to attract approximately 500,000 international customers who live outside Spain but spend long periods of time in the country, whether for work or holidays. HolaBank account is therefore designed for real estate clients, international students, and other non-residents who need a bank account in Spain. The most relevant aspect of this account is that it can be opened from anywhere in the world. You do not need to be in Spain, everything can be done online.

Which Spanish Bank Is Best For Non-Residents? (5 of the Best)

Can I open a bank account in Spain as a non-resident?

Yes, you can open a bank account in Spain as a non-resident. You only need to present the necessary documents and inform the financial institutions about your employment status. In some cases, Spanish banks need other financial information apart from your ID or proof of address.

What is the best bank account to have in Spain?

Top Spanish bank account choices include the BBVA Basic Payment Account, Santander Bank’s Non-Resident Mundo Account, Caixabank’s HolaBank account and Sabadell’s Key Account. All of these bank accounts offer money transfer services for expatriates in Spain. In addition, expats have online banking access, low fees, and customer service in both English and Spanish.

What is the difference between a resident and a non-resident bank account in Spain?

Just like their names, resident accounts are for people who live and work in Spain. Instead, non-resident accounts are for people living overseas. The main difference between the two is that a non-resident account often requires more paperwork and taxes to be paid. Additionally, some services such as international money transfers may not be available with a non-resident bank account.

A word from SpainDesk

Choosing the best Spanish bank for non-residents is a very personal decision that depends on multiple factors. From the type of banking services, you wish to access to the level of customer service you expect. Ultimately, it’s important to explore all the options available and do your research before committing to a particular bank. Speak with friends or family living in Spain and ask questions about their experiences as well. And remember: always read through any contracts, including the fine print, thoroughly before agreeing to any financial commitments. With enough time, you will be sure to find the safest option available for banking in Spain as a non-resident.