How to open a bank account in Spain: a guide for Ukrainians and expats

A bank account in Spain is not just a convenience but a necessity. Without a Spanish account (cuenta bancaria) it is impossible to receive a salary, pay rent, or sign up for electricity and water contracts. In this guide we will go over which banks suit expats, which documents you need, how the account-opening procedure works and which fees you should pay attention to.

Why you need a Spanish bank account

In theory, you can live in Spain with a foreign card. In practice, without a local account you will face serious limitations:

Receiving a salary

Spanish employers transfer salaries only to an account with an IBAN that begins with ES. This is a standard requirement written into employment contracts.

Paying rent

Most landlords require monthly payment via domiciliación bancaria (automatic direct debit) or a bank transfer from a Spanish account. International transfers mean extra fees and inconvenience for both parties.

Utilities

Contracts for electricity (Iberdrola, Endesa), water, gas and internet are linked to a Spanish bank account via domiciliación. Without a local IBAN, signing a contract is extremely difficult.

Tax obligations

If you are a Spanish tax resident, the Agencia Tributaria (the tax authority) works only with Spanish accounts for tax refunds and the collection of debts.

Other situations

• Receiving social benefits (prestaciones, ayudas).
• Paying for insurance (health, car).
• Applying for a mortgage.
• Buying a transport pass (abono transporte) with automatic renewal.

The best banks for expats in Spain

Traditional banks

CaixaBank

CaixaBank is Spain's largest bank following its takeover of Bankia. It has the widest network of branches and ATMs in the country.

Pros:

• Huge branch network — convenient for an in-person visit.
• The imagin programme (banking for young people) with free account maintenance.
• A convenient mobile app with an English-language interface.
• Used to working with foreigners.

Cons:

• High fees for maintaining a standard account (up to €15–20/month without conditions).
• A fee for withdrawing cash from other banks' ATMs.
• They may push additional products (insurance, investments) on you.

Conditions for free maintenance:

• Direct deposit of a salary (nómina) from €600/month.
• Or use of the imagin programme (up to age 30).

Banco Sabadell

Sabadell is one of the most expat-friendly banks. Many Ukrainians and Russian-speaking expats in Valencia choose it specifically.

Pros:

• A special programme for foreigners — the staff are used to non-standard documents.
• Relatively flexible documentation requirements when opening an account.
• A good mobile app.
• A convenient branch network in Valencia.

Cons:

• A fee for maintaining the account (€3–8/month without a nómina).
• They may require additional documents from non-EU foreigners.

Conditions for free maintenance:

• Direct deposit of a salary.
• Or maintaining a minimum balance.

BBVA

BBVA is Spain's second-largest bank. It has an advanced mobile app and one of the best online platforms.

Pros:

• An excellent mobile app — one of the best in Europe.
• The option to open a Cuenta online without visiting a branch (for residents with a NIE).
• A wide ATM network.

Cons:

• Fees similar to CaixaBank's (up to €15/month without conditions).
• Online account opening is not always available for foreigners without a DNI/NIE.
• Bureaucratic difficulties for non-residents.

Banco Santander

Santander is the largest bank in Europe by capitalisation, but for expats it is not the most convenient choice.

Pros:

• An international network — if you already have a Santander account in another country, opening one in Spain may be easier.
• The Santander One programme with free maintenance when conditions are met.

Cons:

• Less flexible with foreigners who lack the full set of documents.
• The app interface is less intuitive.

Online banks and neobanks

N26

N26 is a German neobank with a full European banking licence. One of the most popular among expats.

Pros:

• Fully online account opening in 10–15 minutes.
• A free basic account (N26 Standard).
• A Mastercard with no fee on purchases in euros.
• Free cash withdrawals 3–5 times a month (depending on the plan).
• An interface in several languages.
• The IBAN begins with DE (Germany) but is accepted for most operations in Spain.

Cons:

• A German IBAN (DE) — some Spanish companies and employers may refuse to accept a non-Spanish IBAN (although this violates SEPA rules).
• No physical branches — everything is online only.
• Customer support can be slow.
• It can be problematic for the domiciliación of Spanish utilities.

Requirements to open:

• Passport or ID card.
• An address in Europe.
• A NIE is not required.

Revolut

Revolut is a British fintech, very popular among Ukrainians.

Pros:

• Opening in 5 minutes within the app.
• A multi-currency account — convenient if you receive income in different currencies.
• An excellent currency exchange rate (interbank rate up to a certain limit).
• Free international transfers.
• You can obtain a Lithuanian IBAN (LT) for SEPA transfers.

Cons:

• The IBAN is not Spanish — the same problems as with N26.
• It is not a full-fledged bank in the traditional sense (although it holds a banking licence in Lithuania).
• They may block the account over suspicious activity without warning.
• Not suitable as a primary bank for Spanish administrative procedures.

Wise (TransferWise)

Wise is a platform for international transfers with a multi-currency account.

Pros:

• The best rate for international transfers.
• A multi-currency account with balances in 50+ currencies.
• A card for purchases with no markup on the exchange rate.

Cons:

• It is not a bank — it is a payment institution.
• The IBAN is not Spanish.
• Limited functionality compared with a full-fledged bank.
• Not suitable for domiciliación.

Comparison table

| Parameter | CaixaBank | Sabadell | BBVA | N26 | Revolut | | ---------------------- | ----------- | ---------- | ----------- | ------------- | ------------- | | Maintenance | €0–20/month | €0–8/month | €0–15/month | €0 (Standard) | €0 (Standard) | | Spanish IBAN | Yes | Yes | Yes | No (DE) | No (LT) | | Online opening | Partial | No | Yes | Yes | Yes | | NIE required | Yes* | Yes* | Yes* | No | No | | Support for foreigners | Good | Excellent | Average | Good | Good | | Mobile app | Good | Good | Excellent | Excellent | Excellent | | Physical branches | Many | Medium | Many | No | No |

*Some branches open an account with a passport without a NIE — it depends on the staff member and the branch.

Recommendation: The optimal strategy for an expat is to have two accounts: one at a Spanish bank (Sabadell or CaixaBank) for salary, rent and utilities, and another at N26 or Revolut for everyday purchases and international transfers.

Required documents

Standard set for a traditional bank

1. NIE (Número de Identificación de Extranjero) — the main document. Without a NIE, most Spanish banks will not open an account.

2. Passport — original.

3. Certificado de empadronamiento — proof of registration at your place of residence. Not all banks require it, but many do.

4. Justificante de ingresos — proof of income:

   • Employment contract (contrato de trabajo).
   • A salary certificate from your employer.
   • An account statement for the last 3–6 months.
   • For autónomos — última declaración de la renta or modelo 130.

5. Phone number — a Spanish mobile number for SMS confirmations.

For Ukrainians with temporary protection

Ukrainians with temporary protection (protección temporal) may face additional difficulties, but on the whole the procedure is feasible:

• Temporary protection document — it contains the NIE, so a separate NIE certificate is usually not required.
• Passport — even an expired one, if you have the temporary protection document.
• Empadronamiento — it is strongly recommended to have it.
• Proof of income may not be required if you explain your situation. Some banks open a basic account without proof of income.

Tip: If you are refused at one branch, try another. The decision often depends on the specific staff member. Sabadell and CaixaBank are generally more welcoming to Ukrainians with temporary protection.

Opening an account without a NIE

Formally, opening an account without a NIE is possible — this is the so-called cuenta de no residente (non-resident account):

• You will only need your passport.
• Functionality is limited: there may be caps on transfers and operations.
• Fees are usually higher.
• Not all banks offer this option.

The banks that most often open an account without a NIE: Sabadell, some CaixaBank branches and BBVA.

Step-by-step procedure for opening an account

Step 1: Choosing a bank and a branch

Decide on a bank based on your needs (see the comparison table above). Then:

• Find the nearest branch on the bank's website or in Google Maps.
• Call and confirm whether they work with foreigners and which documents will be required (the set may differ from one branch to another).
• Book an appointment (cita previa) — most banks see clients by appointment.

Tip for Valencia: Sabadell branches in the city centre (Ruzafa, Eixample, Ciutat Vella) are used to foreign clients. If service in English matters to you, ask when booking whether there is an English-speaking staff member.

Step 2: The branch visit

Arrive at the agreed time with the full set of documents:

• Originals + copies of all documents.
• A Spanish mobile number (for SMS verification).
• An email address.

The staff member will carry out the KYC (Know Your Customer) procedure — verifying your identity. You will be asked to:

• Sign the account-opening contract.
• Choose the type of account and the plan.
• Sign the consent for data processing.
• Set up access to online banking.

Step 3: Receiving the card and access

• The debit card usually arrives by post within 5–10 business days. Some banks issue a temporary card right away.
• You receive your IBAN on the day of opening — you can use it for transfers immediately.
• Online banking and the mobile app are set up the same day.

Step 4: Setting up domiciliación

Once you have the account, set up automatic payments (domiciliación bancaria) for:

• Rent (if the landlord accepts domiciliación).
• Electricity and water.
• Internet and phone.
• Insurance.

To set up a domiciliación you normally have to provide the IBAN to the receiving company, which then initiates the charge itself.

Online banking

Traditional banks

All the major Spanish banks offer mobile apps and online banking:

• CaixaBank — the CaixaBankNow app. Interface in Spanish, Catalan and English.
• Sabadell — the Banco Sabadell app. Available in Spanish and English.
• BBVA — the BBVA España app. One of the best interfaces, available in several languages.

Through the apps you can:

• View your balance and transaction history.
• Make transfers (Bizum, SEPA, international).
• Pay bills.
• Manage cards (blocking, limits).
• Contact customer support.

Bizum — the Spanish instant-transfer system

Bizum is a system of instant transfers between individuals, integrated into the apps of most Spanish banks. It is the equivalent of the Ukrainian "transfer by phone number".

• Transfers are linked to a phone number.
• Limit: up to 1000 € per transaction, up to 2000 € per day.
• Instant crediting.
• Fee: free for transfers between individuals.
• Accepted at many shops and online services.

Important: Bizum only works with Spanish bank accounts. N26 and Revolut do not support Bizum.

Fees and hidden charges

Spanish banks are known for their fees. Here is what to watch out for:

Account maintenance (comisión de mantenimiento)

• CaixaBank: up to €20/month without a nómina.
• Sabadell: €3–8/month without a nómina.
• BBVA: up to €15/month without a nómina.

How to avoid it: a salary direct deposit (nómina directa) usually exempts you from the fee. The minimum amount ranges from €600 to €800/month depending on the bank.

Card fee

• Issuing a debit card: usually free when opening the account.
• Annual fee for a credit card: €30–50/year.
• Reissue if lost: €5–15.

Cash withdrawals

• At your own bank's ATMs: free.
• At other banks' ATMs: €1–2 per operation (or €0 with certain plans).
• Abroad: 1.5–3% of the amount + a fixed fee.

Transfers

• SEPA transfers (within Europe): free or up to €0.50 per operation.
• International transfers (SWIFT): €15–40 per transfer + a conversion fee.
• Bizum: free.

Other fees

• Account statement (extracto): free online, €1–3 in a branch.
• Closing the account: free (by law the bank cannot charge a fee for closing).
• Return of an unpaid charge (devolución de recibo): €3–6.

Tip: Before opening the account, ask the staff member to print the full list of fees (folleto de tarifas). This is your right by law. Study the document carefully and ask about every point you do not understand.

Tips for Ukrainians with temporary protection

Which bank to choose

Based on the experience of the Ukrainian community in Valencia:

• Sabadell — the most welcoming to Ukrainians. Many branches are used to working with the temporary protection document.
• CaixaBank — also a good option, especially the imagin programme for young people.
• N26 — as an additional account for everyday operations and transfers to Ukraine.
• Revolut — for currency exchange at a favourable rate and for transfers.

Transfers to Ukraine

For sending money to Ukraine, the most cost-effective options:

1. Wise — the best rate, low fees (usually 0.5–1%).
2. Revolut — a good rate up to a certain exchange limit.
3. Ria, Western Union — cash transfers, convenient for recipients without bank cards.
4. SWIFT transfer from a bank — expensive (€20–40), but reliable for large sums.

Opening an account without a job

If you have just arrived and have not yet found a job:

• Explain your situation to the staff member — temporary protection status, looking for work.
• Some banks open a cuenta básica (basic account) — this is a right enshrined in law (Real Decreto-ley 19/2017). The bank is obliged to provide a basic account to any EU resident, including people with temporary protection.
• A cuenta básica includes: a debit card, online banking, cash withdrawals, SEPA transfers. Maintenance cost: no more than €3/month.

Important: If a bank refuses to open a cuenta básica, this is a violation of the law. You can file a complaint with the Banco de España (Servicio de Reclamaciones).

Tax aspects

Modelo 720 — declaration of foreign assets

If you have accounts outside Spain (for example, a Ukrainian bank account) with a combined balance of more than €50,000, you are obliged to file Modelo 720 — a declaration of foreign assets. The filing deadline is 31 March each year.

CRS (Common Reporting Standard)

Spanish banks exchange financial information with the tax authorities of other countries under the CRS. This means that information about your Spanish account may be passed to the tax authorities of your country of citizenship.

FATCA

If you also have tax obligations in the United States, the bank will ask you to fill out form W-8BEN. This is a standard procedure for all foreigners' accounts.

Common mistakes

1. Opening an account without comparing conditions

Conditions can vary greatly between banks and even between branches. Take the time to compare.

2. Not paying attention to fees

Many expats do not read the folleto de tarifas and are later surprised by the charges. Maintenance, card and operation fees add up.

3. Using only a neobank

N26 and Revolut are convenient but do not work as your only account in Spain. For salary, rent and utilities you need a Spanish IBAN.

4. Ignoring the conditions for free maintenance

Banks offer free maintenance when conditions are met (nómina, minimum balance). Make sure you meet them, otherwise they will start charging the fee.

5. Refusing to use Bizum

Bizum is the standard for payments between people in Spain. Without it you will be "that person you have to make an IBAN transfer to".

6. Keeping all your money in one bank

The best approach is to have at least two accounts: one Spanish bank + one neobank. It is both safer and more advantageous.

Useful links

• Banco de España — regulator, complaints: bde.es

• CaixaBank: caixabank.es

• Banco Sabadell: bancsabadell.com

• BBVA: bbva.es

• N26: n26.com/es-es

• Revolut: revolut.com

• Wise: wise.com

• Bizum: bizum.es

• Cuenta básica (Banco de España information): The "Cuentas de pago básicas" section on the bde.es website

Conclusion

Opening a bank account in Spain is a straightforward procedure, but one that requires preparation. For a full life you will need at least one account at a Spanish bank with a local IBAN.

Main recommendations:

1. Choose Sabadell or CaixaBank as your primary bank — they are the most welcoming to expats.
2. Open an N26 or Revolut account as an additional account for international operations.
3. Prepare your documents in advance — NIE, passport, empadronamiento.
4. Study the fees before signing the contract.
5. Set up Bizum — it is the payment standard in Spain.
6. Remember your right to a cuenta básica — the bank is obliged to provide it.

If you have questions about opening an account or want to share your experience with a specific bank, join our community. The experience of other expats is the best source of up-to-date information.

Disclaimer: The information is current as of March 2026. Banks' conditions may change. To get current fees, contact your chosen bank. This guide does not constitute financial advice.