How to open a bank account in Spain?

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Are you planning on moving to Spain? Are you applying for residency and need to take out private health insurance? Maybe you’re going to study or work here for a prolonged period of time. If so, you will need a Spanish bank account number.

Here at Pellicer & Heredia we work closely with leading banks in Spain and can open a bank account for you with NO STARTUP COSTS OR MAINTENANCE FEES. In this article we will explain some of your options and answer the doubts you might have.

Depending on your situation and preferences, you can open a different type of account. Here are a few examples of accounts that you can open in Spain:

  • A non-resident bank account
  • A resident bank account (provided you have your residency documentation in order)
  • An online or digital account
  • A multi-currency account

Is it better if I wait until I am resident to open a bank account?

This would depend on your wants and needs. Remember, you also have the choice of an online alternative. Some banks do offer more perks if you are resident but if you have just arrived or have no plans of living here on a permanent basis then a non-resident account will be better for you. You can always change to a resident account at a later date once you have your residency card if required.

What is a multi-currency account?

A multi-currency account is an account that operates in a different currency from the EURO. There are some advantages and disadvantages to this kind of account so it would be convenient to evaluate your particular needs. If you are resident in Spain but continue to use currencies other than the euro, then this is a good option to have as an additional account to your main one.

What do I need to open a Spanish bank account?

In order for us to open a bank account on your behalf, we will firstly need the following details and documents:

  • Passport (photo page) or ID card
  • NIE certificate (if you are non-resident), TIE residency card or EU residency certificate, also known as the ‘green card’. (If you do not yet have an NIE number or residency, we can assist you with this).
  • Email address
  • Spanish mobile number

Depending on the bank, you can open an account using your passport instead of an NIE certificate. An NIE certificate is the document given to you when you are assigned an NIE number. This is a number used to identify you for tax purposes.

Do I need to be in Spain to open a bank account?

Not always. Most banks allow the application to be made online and then, if you are not in the country, someone who has been authorized via a power of attorney can go to the branch and sign on your behalf. This is something that we can arrange for you so that we can take of everything.

What is the advantage of opening a bank account through your firm?

There are a few! Firstly, as we collaborate with certain banks, you will receive the best conditions when you sign up through us. Secondly, you could benefit from exclusive promotions and discounts. Finally, we will take care of the sign up forms that need to be filled in and sent off and, if you are not in Spain, we can arrange the power of attorney in order to take care of everything needed.

If you have any further doubts about opening a bank account in Spain and the conditions of each bank, please do not hesitate to contact us on +34 965 480 737 or email us at info@pellicerheredia.com.

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