Last Updated on May 2, 2026 by Bruno Bianchi
Best Banks in Spain for Expats
“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!”
Planning your move to Spain?
Get the free step-by-step roadmap used by 10,000+ expats — covering visas, budget, housing, and the mistakes to avoid.
Start the Moving to Spain Hub →Expat Bank Account Options in Spain
“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.”
Not sure which city is right for you?
Compare cost of living, weather, expat community size, and lifestyle across 13 Spanish cities in our free guide.
Explore Cities →“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: Choosing a Bank in Spain as an Expat
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 |
Bank Accounts & Money Transfer Services
Open a Spanish bank account and send money internationally with ease. Spainguru connects you with trusted providers to simplify banking and currency exchange for expats in Spain.
View ServicesWelcome to Spainguru’s Community Hub!
Connect with thousands of expats, aspiring residents, and digital nomads in Spain. Find your tribe and make your move to Spain smoother and more enjoyable!
Spain Immigration
For general inquiries and discussions about all types of Spanish immigration processes.
Join Group NLV (Non-lucrative visa)
Dedicated to discussions and support for the Spanish Non-Lucrative Visa application.
Join Group NLV Renewals
Support and advice specifically for renewing your Spanish Non-Lucrative Visa.
Join Group Digital Nomad Visa
Your go-to group for questions and tips about the Spanish Digital Nomad Visa.
Join Group Immigration for Filipinos
A specific community for Filipinos navigating immigration to Spain.
Join Group Portugal Golden Visa
Advice on obtaining the Golden Visa as an alternative to the deprecated Spanish version.
Join Group Americans in Spain
A community specifically for Americans living in or planning to move to Spain.
Join Group Americans Retiring in Spain
Connect with fellow Americans thinking about retiring in Spain.
Join Group
Digital Nomad Subreddit
Resources and discussions specifically for the Digital Nomad Visa.
Visit Subreddit Americans in Spain
A community for Americans living in or moving to Spain on Reddit.
Visit SubredditStay informed!
Don’t miss out on important updates, guides, and community events.
What Our Members Say
Frequently Asked Questions
What is the main purpose of these communities?
Our communities are designed to provide a supportive environment for individuals interested in or currently living in Spain. You can ask questions, share experiences, and connect with like-minded people.
Are these groups moderated?
Yes, all our communities are actively moderated by the Spainguru team and dedicated volunteers to ensure a respectful and spam-free environment.
Can I ask for legal advice?
While you can get general advice and personal experiences, information shared is not official legal or immigration advice. We always recommend consulting with a qualified professional.
Get your free step-by-step Spain move plan
10 emails over 2 weeks covering visas, budget, housing & the mistakes to avoid.
Join 10,000+ expats who used this roadmap.
100% free · No credit card · Unsubscribe anytime
