SPANISH BANK ACCOUNT REQUIREMENTS
Spanish bank account requirements are more or less the same as for any other country. Once you choose the bank you want to use when moving to Barcelona, the next step will be to decide what type of account suits your needs. Keep the following in mind when it comes to a bank account in Barcelona.
Generally, there are three types of accounts :
– Current/checking account (cuenta corriente): The most common type of account for your everyday banking.
The interest rates for current accounts that remain in credit are normally low
– Deposit account (cuenta de depósito): These are aimed at customers who want to earn a higher rate of interest on their money, but this type of account does not permit day-to-day banking operations
– Savings account (cuenta de ahorro): Savings accounts offer higher interest rates, but with a limited range of banking services and/or limited access to money, especially at short notice
When opening a savings account, a savings book (libreta de ahorro) is usually issued instead of a debit card, enabling you to withdraw money deposited.
In the ATM´s of most banks, there is a dedicated slot where this book can be inserted, allowing you to update the movements on your account.
Banks will offer their service to residents, as well as NON-residents. However if you are a resident you will enjoy a larger choice of products and services, as well as better interest rates.
To qualify as resident, you need to fulfil the following requirements:
- Live in Spain for 183 (or more) days per year
- Have a spouse (or children under 18 years of age) who are residents of Spain
- Use Spain as the base for your professional or busy activity
To open a bank account in Spain the following is required :
- Applicants must be over 18 years of age
- Photographic proof identity such as passport
- Proof of occupation or status (employment contract/payslip)
- Confirmation of address (utility bill, driving licence or council tax bill no older than 3 months)
- An applicant with all of these documents available when visiting a branch should have their account opened almost straight away, although it will take a few days for the cheque book and ATM/debit card (if applicable) to be issued.
BANK ACCOUNT IN BARCELONA:
In most cases, when requesting to open an account the bank will ask you for your NIE. They will tell you that it is not possible to open an account without the NIE, or they will tell you that it is possible but that you require a certificate from the Spanish police to prove that you are a non-resident. Neither of these statements are true!
If you would like assistance with opening a bank account in Barcelona with Banco Sabadell Atlantico, where you will be assisted by a professional, English-speaking woman, just send us your details and we will put you in contact with her.
Banco Sabadell Atlantico is one of the biggest banks in Spain and have their online banking available in English. They have a multitude of ATMs across the city and their fees are very competitive. They also have a Sterling account, which allows you to deposit Pounds Sterling in your account without having to change it to Euros first.