Moving to Spain can be a life-changing experience, but one of the first things you’ll need to do is setting up your finances. Whether you’re planning to stay for a few months or looking to make Spain your permanent home, choosing the right bank is essential. With so many options available, it can be overwhelming to figure out which is the best fit for you.
Why Does Choosing the Right Bank Matter?
When you’re living in a new country, managing your money in a way that’s convenient, low-cost, and accessible is critical. For expats in Spain, this means finding a bank that offers a mix of great customer service, low fees, and modern banking features like online banking options for expats in Spain.
In 2025, many expats are also prioritizing banks that make it easy to send and receive international payments, given the frequent transfers between Spain and other countries. Also, if you plan to settle down long-term, having the right bank will make your experience smoother when it comes to buying property or getting loans.
Top Banks for Foreigners in Spain in 2025
Here’s a look at some of the best international banks in Spain, whether you need a basic current account or something more specialized:
Banco Santander
Ranked as one of the top banks because of its global presence, strong customer support, and extensive international transfer options. It’s ideal for expats who value a balance of physical branches and digital services.
Santander offers multilingual support, making it easier to navigate the process of opening an account and managing your finances. They also have a wide range of accounts that suit different needs, from basic current accounts to savings plans.
With Santander being a global bank, it’s simple to send money between Spain and other countries, which is crucial for expats.
BBVA
Highlighted for its modern digital services and ease of managing accounts online, making it a great choice for expats who prioritize tech-driven solutions, as well as those who need easy international transfers.
BBVA provides a number of services tailored for foreigners, including non-resident accounts and mortgage options for expats. Plus, their online platform supports multiple languages, making it easier to manage your banking needs in Spain.
BBVA offers competitive rates for transferring money abroad, and it’s well-known for having one of the most efficient digital banking systems.
CaixaBank
Known for excellent customer support and a range of services tailored to both residents and non-residents. It’s ideal for expats who prefer to have access to both physical branches and a solid digital banking experience.
CaixaBank provides dedicated accounts for expats and non-residents, and its customer support is available in several languages. This can make opening an account and handling finances in Spain a lot easier.
They have a solid international transfer system, and CaixaBank is also widely recognized for its competitive exchange rates.
Bankinter
Positioned here due to its competitive interest rates and transparent fee structure. It’s a good choice for expats seeking low-cost banking options, especially those focused on getting the best value out of their accounts.
Bankinter offers a range of options for both residents and non-residents. They’re also known for their transparent fees, which is a plus when managing finances across countries.
Though not as widely recognized as BBVA or Santander for international transfers, Bankinter still offers reliable services for sending money abroad.
ING Spain
Featured for its modern, online-first approach with minimal fees, which is perfect for expats looking for an entirely digital banking experience. It’s a top option for those who don’t need physical branches and want to avoid high fees.
ING’s online platform is intuitive and available in English, making it simple for non-Spanish speakers to use. Plus, their fees are minimal, which is great for keeping costs down.
ING offers low-cost international money transfers, which can be a huge advantage if you need to send money to your home country.
One thing you’ll want to keep an eye on when choosing a bank is bank fees in Spain for expats. Some banks charge monthly maintenance fees on accounts, while others may charge for international money transfers or ATM withdrawals outside their network. Be sure to read the fine print to understand exactly what you’re being charged for, especially if you’re transferring money abroad or using ATMs often.
Can a Foreigner Open a Bank Account in Spain?
Foreigners can open a bank account in Spain, and it’s a relatively simple process. Whether you’re a resident or a non-resident, you can open a basic account as long as you have the necessary documentation. If you’re a non-resident, some banks may require a bit more paperwork, but most major banks will have options for you.
How to Open a Bank Account in Spain?
Opening a bank account in Spain is a straightforward process, but it’s important to have the right documents ready. Documents needed to open a bank account in Spain:
NIE (Número de Identificación de Extranjero): This is the foreigner identification number, which is necessary for many things, including opening a bank account.- Passport: A valid passport is required to confirm your identity.
- Proof of Address in Spain: This can be a utility bill, rental agreement, or another official document showing where you live.
- Proof of Income or Employment: Some banks will ask for proof of employment or income, though this may not be required for a basic account.
NIE (Número de Identificación de Extranjero): This is the foreigner identification number, which is necessary for many things, including opening a bank account.With TEX’s expert team, you can navigate the bank account opening process in Spain. Our professionals will ensure that all the required documents are in order and assist you every step of the way, whether you prefer to do it in person or online. We understand the local banking system and can help you find the best options tailored to your needs, making the process quick and stress-free.
Best Way to Transfer Money to Spain
When it comes to transferring money to Spain, you’ll have several options:
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Bank Transfers: Most banks in Spain offer international transfers, but be sure to check fees and exchange rates before committing.
- Wise (formerly TransferWise): Wise is often considered the best option for expats transferring money internationally due to its low fees and competitive exchange rates.
- Revolut and N26: Digital banks like Revolut and N26 offer fee-free international transfers, making them excellent choices for expats who want a convenient, low-cost way to send money.
Investing in Real Estate in Spain
If you’re planning to live in Spain for the long term, or you’re considering property investment, Spain offers a wide range of options, from modern apartments to picturesque villas along the coast. The real estate market in Spain has always been attractive to expats due to its warm climate, stable economy, and desirable lifestyle.
If you’re particularly drawn to Spain’s coastal beauty, Altea, on the Mediterranean coast, offers an ideal location for both living and investing. It’s a charming town known for its stunning views, beautiful beaches, and strong community vibe. If you’re interested in investing, our project in Altea is a great opportunity to consider for its prime location and future growth potential.
Choosing the right bank in Spain can make a huge difference in how smoothly your expat experience goes. Whether you’re looking for a traditional bank with physical branches, an online-only bank with no fees, or a bank that specializes in international transfers, there’s an option that fits your needs.
