The Ultimate Guide to Opening a Bank Account in Barcelona for Newcomers – Best Options & Common Pitfalls (Update 2025)

Moving to Barcelona, like many other cities in Spain, often means navigating a complex web of bureaucracy. One of the first challenges newcomers face is opening a bank account—something that may seem straightforward at first but can quickly become complicated. This guide is designed to help you avoid common pitfalls, make informed decisions, and choose the best banking option for your specific situation.

Table of Contents:

1. Requirements for Opening a Personal Bank Account in Spain
2. Who is eligible to open an account?
3. Dealing with Traditional Banks
4. Resident vs. Non-Resident Accounts – Which One Should You Choose?
5. Best Traditional Banks in Spain and Their Fees
6. Overview of the most popular traditional banks
7. Which Banks Allow You to Pay Taxes in Spain, and Which International Banks Offer a Spanish IBAN
8. Best Online Banks in Spain for Foreigners and Their Costs
9. Best Banks for Business Accounts (LLC and Autónomo)
10. Frequently Asked Questions (FAQ)
11. Experiences of Others – Real Stories from Foreigners Who Opened Bank Accounts in Spain

Requirements for Opening a Personal Bank Account in Spain

For a long time, opening a bank account in Spain meant physically visiting a branch, waiting in line for hours, and finally explaining to a semi-patient bank employee—who likely didn’t speak English—that you wanted an account but didn’t have all the required documents. This often led to confusion and frustration for newcomers, as banking services are primarily conducted in Spanish, and finding staff who speak English or other foreign languages can sometimes be challenging.

Nowadays, things have improved, and bank accounts can technically be opened online. However, don’t get too excited, it’s not always as simple as it sounds.

Who is eligible to open an account?

Almost anyone can open a bank account, but most banks will ask for your NIE (Número de Identidad de Extranjero). This is a unique identification number given to all foreigners in Spain, whether you're staying temporarily as a non-resident or planning to establish long-term residency.

Some banks may allow you to open an account with just your passport, but most will require additional proof of residence, such as Empadronamiento (registration certificate proving your address) or rental contract.

For business accounts, you’ll also need a tax identification number (NIF).

Additionally, some banks require a minimum deposit, which in some cases must be over €800 per month, and these conditions tend to change over time. The type of account you’re opening (whether a savings or current account) also affects the requirements.

For instance, if you're self-employed (Autónomo), you’ll typically need to provide proof of Alta status, which confirms your registration with the Spanish social security and tax system.

Dealing with Traditional Banks

Traditional banks almost always require a NIE, and obtaining one is a whole separate bureaucratic challenge. In rare cases, some banks might help you with the NIE process, but usually only if you’re considered a VIP client, meaning you plan to deposit significant amounts of money.

Resident vs. Non-Resident Accounts – Which One Should You Choose?

This might be the most important section, so pay close attention. First, ask yourself: What is the purpose of your account?

• Are you buying property, starting a business, transferring your savings, and planning to live in Spain?
• Or do you just want a local bank account because you visit frequently?

If it’s the latter, be aware that simply wanting an account for convenience is not the best reason—many banks might not see the need to open one for you unless you have stronger ties to Spain.

What is a resident account vs. a non-resident account?

• Resident accounts are for those who live and work in Spain or have some form of economic activity within the country. Some banks may also accept businesses registered within the EU, even if the owner is not officially residing in Spain.
• Non-resident accounts are intended for tourists, digital nomads, and temporary workers, as well as those who own property or run a business in Spain but do not live there permanently.

If you're planning to stay in Spain long-term, a resident account is the better choice, but if you're only here short-term or working remotely, a non-resident account is usually the easier option to open.

Key differences in fees and benefits

The differences are straightforward. If you do not pay taxes in Spain (meaning you stay less than 183 days per year and have no intent to settle), then a non-resident account is usually the right choice.

However, if you have legal residency, are registered in Spain, or have economic activity in the country, then a resident account is generally required.

How to switch from a non-resident to a resident account once you get your NIE

You can usually switch to a resident account once you receive your TIE (Tarjeta de Identidad de Extranjero), which is a foreigner’s ID card with proof of residency, or a Green NIE if you are an EU citizen. The Green NIE does not function as an ID card but serves as proof of address and tax residency in Spain, while your identity is still verified through your passport or national ID.

Once you have your residency status formalized, you will need to visit your bank and provide your updated documentation, including your TIE or Green NIE, to convert your account.

Best Traditional Banks in Spain and Their Fees

All banks in Spain offer good services—but mostly for VIP clients. In this context, VIP usually means you regularly transfer over €250,000, depending on the bank.
The difference between traditional (domestic) and international banks is that traditional banks tend to have more trust among locals and are widespread across the country, including in smaller towns. On the other hand, international banks are mostly found in major cities and generally have fewer physical branches.

In recent years, Spanish banks have been merging and reducing the number of branches, as most local customers now handle banking online. However, due to the large number of elderly customers, banks still maintain physical locations, especially in smaller towns.

What to Expect From Traditional Banks

For an average customer, the main concern is avoiding high maintenance fees and having access to good investment options. However, one of the most common complaints is how aggressively some banks push their additional products, such as insurance, investment plans, or savings accounts.

Some banks have even used visa requirements to pressure non-residents into purchasing private health insurance or depositing a specific amount of money as a condition for opening an account.

For those who receive a monthly salary, pension, or other recurring income, there are usually no major differences between banks, apart from maintenance fees, which can vary based on minimum deposit amounts.

Being a customer of a traditional bank in Spain can come with unexpected perks. For example, CaixaBank clients often get free or discounted entry to Caixa-sponsored venues (like CaixaForum and CosmoCaixa), making it a nice bonus for those who enjoy cultural activities. Other banks may offer similar benefits, such as discounts on events, museums, or even travel perks.

Key Differences Between Resident and Non-Resident Accounts

The biggest pricing differences exist between resident and non-resident accounts. Fees for non-residents can vary significantly, and banks often base their rates on:

• How many financial products you use with them
• How much money you deposit each month

Ultimately, your monthly income and banking activity play a key role in determining the overall costs of maintaining an account.

Overview of the most popular traditional banks

CaixaBank

CaixaBank currently has the largest branch network in Spain, particularly in Catalonia, as it was originally founded in Barcelona. However, due to political uncertainty in Catalonia in 2018, the bank moved its headquarters to Valencia.

It is considered one of the most accessible banks, offering options for both residents and non-residents. However, it has a reputation for high maintenance fees and aggressively promoting its financial products. Many foreigners report being pushed into purchasing additional services, and some non-residents have even been required to buy CaixaBank insurance or maintain a minimum deposit in their accounts.

• Resident Accounts: The Día a Día account has an annual maintenance fee of €240, but this fee can be reduced or even waived if you meet certain conditions, such as receiving a salary of at least €750 per month into the account.
• Non-Resident Accounts: CaixaBank offers HolaBank, which is specifically designed for foreign clients. It includes online banking, a credit/debit card, and multilingual assistance. The annual fee is €140, making it a reasonable choice for non-residents who do not plan to stay long-term.

Things to Watch Out For:

• Additional fees may apply if you do not meet the minimum deposit requirements or do not purchase one of their financial products (e.g., insurance, term deposits).
• CaixaBank is known for offering customized agreements, meaning VIP clients or those with large deposits can negotiate special conditions directly with their bank representative.
• If you do not have a NIE, you can open a HolaBank account with just a passport and a Certificado de No Residente. CaixaBank can even issue this certificate for a small fee.
• Some nationalities may face additional document requirements due to compliance with Know Your Customer (KYC) regulations, aimed at preventing money laundering, terrorism financing, or politically exposed transactions.

Why Choose CaixaBank?

• It is well-integrated with the Spanish tax system, making it easy to pay taxes and utility bills directly from your account.
• There are plenty of ATMs across Barcelona, and special self-service machines allow you to pay bills without entering the bank or using online banking.
• Online banking is available through a relatively well-functioning mobile app and their web platform.

How to Open an Account?

To open an account, you must be physically present at a branch, or you can authorize someone via a notarized power of attorney to open the account on your behalf.

Banco Santander

Banco Santander is another highly popular choice among foreigners in Spain. While in most of the country it is seen as a leading national bank, in Catalonia, it is often perceived as a "Madrid bank", as its headquarters are in Madrid. Until recently, it was Spain’s largest bank, but it is now second to CaixaBank in terms of size and customer reach.

Non-Resident Accounts

For non-residents, the Mundo Account is one of the most commonly used options. The conditions and maintenance fees are similar to CaixaBank, meaning you can expect a base annual fee, which can sometimes be reduced if you meet specific banking requirements.

Things to Watch Out For:

• Like CaixaBank, Santander may require you to purchase additional financial products when opening an account.
• If you are applying for a non-lucrative visa, which requires proof of private health insurance, Santander may insist that you purchase insurance through their bank as a condition for maintaining the account.
• There are hidden conditions for fee waivers—some accounts require regular deposits or the use of specific services to avoid extra charges.

Why Choose Santander?

• Strong international presence, making it a good choice for those who travel frequently.
• Good integration with online banking, allowing for smooth transactions and bill payments.
• Offers competitive rates for international transfers, which is useful for expats sending money abroad.

While Santander offers a reliable banking service, it is best suited for those willing to commit to using additional banking products to reduce fees.

OpenBank

OpenBank is a great online alternative that is part of the Banco Santander group. It offers a fast and efficient online registration process, an excellent online banking app, and the ability to pay bills and receive payments seamlessly.

One of its biggest advantages is that it does not charge any maintenance fees. It also includes one or more debit/credit cards, making it a cost-effective choice for those who prefer digital banking.

Who Can Open an OpenBank Account?

• You must be a resident to open an account.
• Some users have reported that they were able to open an account using their empadronamiento (residence registration) and passport, even if they didn’t yet have a full residency permit.
• A Spanish phone number is mandatory, as it is required for almost every payment verification and security check.

Why Choose OpenBank?

• No maintenance fees, making it one of the most cost-effective bank accounts in Spain.
• Fast online sign-up, with an easy-to-use mobile app.
• Backed by Banco Santander, meaning you still get the security and reliability of a major traditional bank.

OpenBank is an ideal choice for tech-savvy residents who want a hassle-free, low-cost banking solution without dealing with the bureaucracy of traditional banks.

A member of our group mentioned:

BBVA

BBVA is one of the largest and most popular banks in Spain, originally from the Basque Country, with its headquarters in Bilbao. Officially named Banco Bilbao Vizcaya Argentaria, it is known for its strong digital banking services and solid reputation among both residents and non-residents.

BBVA for Residents

Residents generally have a positive experience with BBVA, especially due to its well-designed mobile banking app, which offers excellent features and is particularly useful for self-employed (autónomos) who need easy online access to manage their finances.

BBVA for Non-Residents

• For non-residents, the conditions are similar to other traditional banks, but there are some extra fees to consider:
• Quarterly maintenance fee of €40 if your monthly deposits are below €800.
• If you meet the €800 deposit requirement, the maintenance fee is reduced to €15 per quarter.

Some customers report that to fully avoid extra fees, BBVA also requires at least €200 per quarter in transactions via debit or credit card.

Things to Watch Out For:

• If you do not meet the deposit requirements, BBVA can become expensive for non-residents.
• Some clients feel pressured to use their BBVA credit/debit card regularly to meet spending conditions, which may not suit everyone.
• BBVA’s online banking platform is one of the best among traditional banks, making it a good choice for those who prefer digital banking.

Why Choose BBVA?

• Highly rated mobile banking app, making it great for independent professionals.
• Better conditions for residents compared to non-residents.
• Lower fees than CaixaBank if you meet the deposit requirements.

While BBVA is an excellent choice for residents, non-residents should carefully check the deposit and spending conditions to avoid unexpected maintenance fees.

A member of our group mentioned:

Banco Sabadell

Banco Sabadell was founded in the Valencian region and has its headquarters in Alicante, a major port city. It is smaller than Santander or CaixaBank, so it competes by offering more flexible options, particularly for foreign clients.

Banco Sabadell for Non-Residents

• One of its most attractive offerings for foreigners is the Key Account, which provides:
• Assistance in English and sometimes in other foreign languages.
• No fees for debit or credit cards.
• Flexible account conditions, but maintenance fees depend on your monthly income.

Fees and Conditions

• If your monthly income is below €700, you may be required to pay a quarterly maintenance fee.
• For those who meet the income threshold, the account can have little to no fees.
• Since Banco Sabadell frequently updates its pricing policies, it is best to check their official website for the most current terms.

Why Choose Banco Sabadell?

• More foreigner-friendly than some larger banks, with English-speaking service.
• No hidden fees for bank cards, unlike some competitors.
• Lower entry requirements compared to CaixaBank or Santander.

Banco Sabadell is a good option for non-residents, especially those who want an English-speaking bank and a flexible fee structure. However, it's important to verify the latest conditions, as they tend to change frequently.

A community member shared:

In general, common banking fees to watch out for:

• Monthly account maintenance
• ATM withdrawal fees
• International transfer fees

Which Banks Allow You to Pay Taxes in Spain, and Which International Banks Offer a Spanish IBAN?

I already mentioned the concept of tax residency earlier in the article, but it's worth repeating: most residents become tax residents in Spain if they stay for more than six months per year.

A non-resident can also become a Spanish taxpayer if they spend that amount of time in the country, so it's important to distinguish between tax residency and general residency status—they are often linked but not necessarily the same.

Regardless of your status, if you have economic activity, spend a significant amount of time in Spain, or own property, you will likely need to pay some form of tax. This is a complex topic that requires a separate deep dive, but if your financial situation is complicated, it’s best to consult a local tax advisor before making any major banking decisions.

Aside from traditional and online banks, there are international banks that can also handle most of your financial needs.

ING Bank - A Favorite Among Foreigners, Now Winning Over Locals

From personal experience, ING Bank is one of the best options for both residents and non-residents. Unlike many online-only banks, ING has three physical branches in Barcelona and plenty of ATMs across different neighborhoods.

What makes ING a great choice?

• Minimal requirements: All you need is a passport and proof of residence (or a non-resident certificate if you are not a resident).
• No maintenance fees, as long as you deposit at least €600 per month.
• Bizum compatibility, meaning you can use Spain’s most popular instant transfer system for small payments.
• Full tax and bill payment compatibility, without unnecessary sales calls or pressure to buy additional financial products.
• Most operations can be done via the app, which has improved significantly over the past few updates

A community member shared:

Best Online Banks in Spain for Foreigners and Their Costs

Besides OpenBank, which is affiliated with Banco Santander, many foreigners opt for online banks that offer a Spanish IBAN and are officially recognized by the Spanish tax agency for paying taxes. However, not many online banks meet this requirement. One of the most popular options is N26, while Revolut and Wise have limitations when it comes to tax-related transactions.

• Revolut does provide a Spanish IBAN, but it does not have an agreement with the Spanish tax authorities (Tributaria), meaning it cannot be used to pay taxes, which both residents and non-residents are required to declare and settle.
• Wise does not have a Spanish IBAN, making it impossible to use for tax or bill payments in Spain.

N26

N26 is based in Berlin and does not have physical offices in Barcelona or anywhere else in Spain, aside from an administrative center that is responsible for the operation of the online bank but does not offer customer service for clients.

This raises a valid concern - what happens if something goes wrong? Will you be able to reach customer support easily, and more importantly, will they actually help with things like Spanish tax payments or other local banking issues?

Why Is N26 Popular?

Despite these concerns, N26 remains one of the most popular digital banks, especially among digital nomads and those with multiple tax residencies.

• It can be used for paying taxes and bills in Spain, which makes it a practical choice for non-residents who own property and need a reliable way to manage their financial obligations.
• No maintenance fees, except for ATM withdrawals, which depend on the specific account plan you have with N26.
• Excellent for international transfers with low-cost exchange rates.

Limitations of N26 in Spain

Some users have reported issues when trying to use N26 for local tax payments, particularly IBI property tax in smaller municipalities that do not accept N26 IBANs. While N26 support might be able to help resolve this, it’s always a good idea to have an alternative payment method.

Revolut & Wise – Useful for Transfers, but Limited for Taxes

In the end, Revolut and Wise are mostly used for international transfers, with some limitations on the size of transactions.

• Revolut, while not fully integrated into the Spanish tax system, does provide a Spanish IBAN, so some users have been able to use it for bill payments.
• Wise is generally used for currency exchange and international money transfers, but since it lacks a Spanish IBAN, it is not suitable for paying taxes or official Spanish bills.

Best Banks for Business Accounts (LLC and Autónomo)

Most companies and self-employed individuals (autónomos) in Spain stick with traditional banks for the ease of dealing with tax authorities and official paperwork.

For autónomos, some of the most popular business accounts include CaixaBank Business and BBVA Autónomo Account, both of which integrate seamlessly with the Spanish tax system.

For LLCs (sociedades), Santander Business is widely used, while international banks like ING, HSBC, Deutsche Bank, and Citibank are more common among foreign investors and large corporate clients rather than small local businesses.

That being said, banks are constantly evolving their business strategies, and in the future, international banks may offer the same tax-system integration as Spanish banks. For now, though, this remains a significant barrier for self-employed professionals and small business owners, which is why most still opt for traditional banks.

Frequently Asked Questions (FAQ)

Here are some of the most common questions and answers to help you choose the right bank.

Which Banks Allow You to Open an Account from Abroad?

None of the major traditional banks allow you to open an account without physically visiting a branch or giving power of attorney to a lawyer or a close family member.

Among online banks, OpenBank allows remote account opening, but you must have a Spanish phone number and may be required to provide a residential address and complete a KYC (Know Your Customer) form. N26 also offers online registration but requires an NIE, which must be obtained in person.

In most cases, a personal visit is required, especially if you are a non-resident or plan to transfer large amounts of money for purposes like buying property, investing, or starting a business.

How to Avoid Hidden Fees and Increasing Monthly Costs

Many foreigners are surprised to find that Spanish banks charge commissions on incoming and outgoing transfers, which are often not clearly explained upfront. Since most people sign agreements without reading the fine print, details about fees are usually buried in bank websites or contracts.

Common Hidden Fees in Spanish Banks:

• Account maintenance fees
• SEPA transfer charges
• Fees for debit or credit card issuance
• Currency conversion rates/fees

How to Negotiate Lower Fees?

The only way to get VIP treatment or a dedicated account manager is to have larger cash flows, which can help you negotiate better conditions.

How to Switch to a Bank With Lower Costs?

Many banks offer fee reductions if you purchase one of their financial products, such as insurance, a term deposit, or an investment plan. This can be a way to offset maintenance fees, but it’s worth checking if the product actually benefits you.

Best Banks in Spain for Foreigners and English-Speaking Customers

Finding English-speaking staff at local bank branches can be hit or miss, some people report having no trouble, while others find it a struggle. In general, many bank employees can communicate in basic English, but some prefer to stick to Spanish to avoid misunderstandings, especially when dealing with financial matters. It often depends on who you get on the day, so patience (or bringing a Spanish-speaking friend) can help. That said, most major banks now offer customer support in English, and their banking apps and online platforms typically include language options in Spanish, Catalan, and English.

What to Do If Your Bank Blocks Your Funds

Accounts can be blocked for multiple reasons, but the most common ones include suspicious transactions or incoming transfers from certain countries. In reality, anything outside your normal banking activity can trigger a due diligence review.

The real frustration comes when you realize how long it can take to restore access. Even if your bank has a physical branch, the account verification process can take anywhere from a few weeks to several months.

Even after submitting the required documents, banks may request additional paperwork, and the process can drag on.

Your debit and credit cards will also be blocked without warning, so understanding why accounts get frozen can help you avoid unnecessary surprises.

Common Reasons for Account Freezing:

• Expired identification documents
• Suspicious source of incoming funds4
• Unusual spending patterns (potential account hacking)
• Suspicious destination of an outgoing transfer
• Ongoing criminal investigation involving the account holder
• Unusual login attempts on your online banking app

How to Close a Spanish Bank Account Without Issues

Many people experience difficulties even when trying to close their accounts. Some customers of CaixaBank and Banco Sabadell have reported withdrawing their remaining funds and receiving verbal confirmation that the account was closed, only to discover months later that the account was still open and accumulating maintenance fees.

By the time the bank reaches out to collect unpaid fees, there is little room for negotiation, as the customer never received written confirmation of account closure.

Important tip: Always request written confirmation when closing your account. Some banks continue charging fees if the account is not properly deactivated in their system.

Alternative Banking Options If You Cannot Open a Traditional Account

Most alternative banking solutions have some drawbacks, especially not having a Spanish IBAN or not being integrated with the Spanish tax system. However, services like Revolut, Wise, and Payoneer can still be used in Spain, depending on your needs.

• N26 is one of the most widely used online banks in Spain and recently signed agreements with Spanish tax authorities, allowing customers to pay taxes and bills more easily.
• Revolut and Wise are mostly useful for international transfers, but Wise does not have a Spanish IBAN, which limits its use for local payments.

If you are not eligible for a traditional bank account, combining multiple online banking options can help cover most financial needs while living in Spain.

Experiences of Others – Real Stories from Foreigners Who Opened Bank Accounts in Spain

One of the best ways to hear real experiences and get first-hand advice is through the Barcelona English Speakers Community, where people share their stories, challenges, and tips about opening bank accounts in Spain. If you want direct recommendations, you can also join our dedicated WhatsApp Finance Group, where members exchange insights daily on banking, taxes, and financial matters.