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Banking in Spain

Your banking options depend on where you are in the residency and registration process. Here's a practical guide by stage.

Stage 1 — Before you have residency (passport only)​

Santander offers a non-resident account that can be opened online in theory, but in practice you will need to visit a branch with your passport to complete the process. If you later become a resident, you must notify Santander to convert it to the appropriate account type.

Stage 2 — You have a NIE but not yet a TIE​

N26 and Revolut both allow you to open an account with a NIE. Both are worth considering at this stage:

  • N26 can be used to set up direct debit (domiciliación) for Social Security payments
  • Revolut includes a USD account in the basic package, with ACH transfers from the US not charged

Full list of banks eligible for Social Security direct debit: Seguridad Social — Entidades colaboradoras

Stage 3 — You are registered as autónomo (TIE + RETA/Modelo 036)​

Most major Spanish banks offer online autónomo accounts with no maintenance fees and a debit card. These are opened by uploading your TIE and registration documents. Because they are registered as business accounts, they give access to leasing and renting facilities.

  • Santander includes a USD account on request
  • CaixaBank customers get free or discounted access to CaixaForum and CosmoCaixa events
  • BBVA and CaixaBank — additional detail coming soon
  • Sabadell offers an autónomo account with passport and NIE. Helpful for those waiting on TIE.

Exchange Rates & Currency Conversion​

When transferring foreign income to Spain or converting currency for tax reporting, use the official European Central Bank (ECB) reference rates: