Question
“I’ll be moving to Spain in November. What Banks in Spain have you found to be the best? Also were you able to set it up with still in the states or did you have to wait till you were in Spain? Thanks!”
Answers
“We were unable to find a Spanish bank that would open an account without a branch visit. We came on a scouting trip before we moved, opened a non-resident account without passports, then converted to a regular account after getting our residency card.”
“The only difference we could discern between the non-resident and resident was how we signed on—passport number or NIE number.
We used Banco Santander, which is owned by the same holding company as Santander Bank in the US, but the locations in the US are not branches of the Spanish bank. You need an IBAN number to use the account for things like utility bills, and the US bank doesn’t use these.”
“We use BBVA & liked it better than Caixa. For money transfers, I use Wise and Remitly.”
“I set up an N26 account while I was in the U.S., but it was because I had an address in Spain already.”
“I’ve found Sabadell to be great. They have been very eager to work with foreigners.”
“Revolut US account and once you are here open the secondary.”
“There are no ‘good banks’. They all will rip you off.”
“As a non-resident, it’s impossible to find a traditional Spanish bank that won’t charge you a monthly fee. Also forget about earning interest on your bank account in Spain. If your money source is from the US and you just need a Spanish bank account to pay bills and that sort of thing, you’re better off using something like Wise.
You can even transfer dollars into Wise and have them convert into euros and they pay 1% interest (yes that’s terrible but it’s better than 0%) in case you’re doing some hedging.”
“Lots of us use Wise.”
“I set up a non-resident account with Santander fully online from the U.S., but it involves jumping through hoops. First I needed a VPN and I set it to Spain, then I needed a Spanish phone number to get the MFA emails.
They make it sound easier than that, but it wasn’t. Once there I can change it to a resident account. They have ways to avoid fees with automated deposits and bill payments.”
“Santander.”
“Wise and bunq.”
“N26.”
Conclusion
Expats moving to Spain report that opening a traditional bank account typically requires being present in Spain, especially with banks like Santander, BBVA, and Sabadell.
However, it is sometimes possible to open a non-resident account beforehand, which can later be converted once residency is obtained.
Digital alternatives like Wise, N26, Revolut, and bunq are increasingly popular among newcomers, particularly those with a Spanish address.
Wise received multiple recommendations due to its easy international transfers, IBAN availability, and ability to pay Spanish bills.
Many users cautioned that traditional Spanish banks often charge monthly fees and do not offer interest on deposits, especially for non-residents. Automated deposits and bill payments can sometimes reduce or avoid these charges.
Here’s a visual comparison table of the mentioned banks and financial services, including whether accounts can be opened from the U.S., pros, and cons:
| Bank/Service | Can You Open from the U.S.? | Pros | Cons |
|---|---|---|---|
| Santander | Sometimes (with VPN and Spanish phone) | Can be converted to resident account later, same brand as U.S. | Difficult setup from U.S., monthly fees, U.S. branches not connected |
| BBVA | No | Preferred over Caixa, good in-person experience | Requires visit to branch, may charge fees |
| Sabadell | No | Eager to work with foreigners | In-person setup needed |
| Caixa | No | Widely available | Less preferred than BBVA |
| Wise | Yes | Easy setup, transfers from USD to EUR, pays 1% interest, has IBAN | Not a traditional bank, limited services |
| N26 | Yes (if you have a Spanish address) | Fully online, easy to use | Requires Spanish address, not ideal without residency |
| Revolut | Yes | Can open U.S. account, then add Spanish one later | Limited services until full setup in Spain |
| bunq | Yes | Digital banking, supports IBAN | Less known, not always accepted by all services |
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