Opening a bank account in Spain

Compare the types: traditional banks have branches, ATMs and comprehensive service, and often impose monthly fees or card maintenance fees unless under conditions such as salary transfer or monthly use.

• Digital banks are quicker to open and cheaper and some have no fees but no branches.
• Look at monthly fees (comisión de mantenimiento), card fees, withdrawals from another bank's ATMs, international transfers, customer service and language.
• Many banks announce no-commission accounts under conditions.
• For families there are joint accounts (cuenta conjunta), and for children accounts.
• If a bank refuses you, you have the right to a basic payment account by law, and go to the Servicio de Reclamaciones at the Bank of Spain if refused without reason.

You usually need a passport or ID card, an NIE or TIE, proof of address such as the registration certificate (padrón) or rental contract, proof of income such as a work contract or payslip, and sometimes an email and a Spanish phone number.

• The account can be opened at the branch by appointment or online with video verification.
• Opening with a passport alone may be accepted by some digital banks for non-residents under limited conditions.
• If you are new and without a work contract you may need documents that prove your funding.
• The card and PIN reach you by post at your address.
• Make sure your name matches the passport in Latin letters.
• And give the IBAN to your employer after opening.
• And ask about the account contract and its terms before signing.

Banks issue a debit card (tarjeta de débito) linked to the account, and an optional credit card (tarjeta de crédito) under conditions.

• It is used for payment in shops and online and for ATM withdrawals, with a PIN.
• Contactless and phone payment (Apple Pay and Google Pay) is common.
• Bizum is an app inside the bank's app that lets you transfer money instantly between people by phone number, and is very common in splitting bills and buying second-hand things.
• For international transfer the IBAN and BIC are used, and specialist services such as Wise are available at lower cost.
• For monthly utility bills you allow direct debit (domiciliación), and you have the right to return it within eight weeks for an authorised debit and thirteen months for an unauthorised one.
• Monitor the account periodically.

Banking fraud is widespread via calls (vishing), text messages (smishing) and email (phishing) impersonating the bank, police, tax agency or a courier company, and asking for your PIN, verification code or transfer of money to a safe account or clicking a link.

• A real bank never does that.
• Do not give your PIN, message code or password to anyone, and do not hand your card to anyone, and end the call and call back on the official number.
• Do not click message links and enter the bank app yourself.
• Activate transaction notifications and set a daily limit.
• And report to your bank and police at once if you become a victim, and record the event.
• And beware of work-from-home offers that ask you to use your account to move money, which is money laundering.

If an amount is withdrawn by mistake or without your permission report to your bank at once.

• To file a complaint write to customer service (Servicio de Atención al Cliente) then to the Servicio de Reclamaciones at the Bank of Spain if the bank does not reply within a month.
• Deposits are guaranteed up to one hundred thousand euros per depositor per bank under the deposit guarantee fund.
• You can open a savings account or deposit (depósito) to earn interest, and check the redemption terms.
• Do not let the account go into overdraft because its interest is very high.
• When transferring money to your country compare fees and exchange rates between the bank and transfer services, since differences are big.
• And for those facing debts contact the bank or social services early and do not ignore the matter.

What does a Spanish IBAN start with?