The best banks In Spain for expats and students, Are you relocating to Spain for work or school? If so, selecting the top Spanish bank is one of the most important things you must do! The region that is home to Real Madrid and Barcelona has a thriving banking industry, with various financial institutions notable for their dependable services, affordable prices, and extensive branch networks.
Furthermore, some of these banks with headquarters in Spain are the best in Europe for non-residents! Here is a list of Spanish banks and their salient characteristics to assist you in deciding which one should handle your money. Additionally, this thorough guide about the best banks In Spain for expats and students will help you with opening a bank account and utilizing both traditional and digital banking options.
How an Expat Can Open a Bank Account in Spain?
For a variety of reasons, a non-resident always seeks out a simple way to debit and credit his friends or family. Make sure your documents have been translated into Spanish using the appropriate sources beforehand. The following are things to think about when you want to create an account with Spain’s top bank:
- A valid non-resident identification document, like a passport
- A letter from a local police station attesting to your status as a non-resident
- Documentation of your employment status at your place of employment, such as your tax return and employment contract
- A recent six-month or more recent bank statement to prove your address
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13 Best Banks In Spain For Expats And Students | Key Features to Know
You should be aware of the best banks In Spain for expats and students whether you are relocating to the land of paella and tapas for a job or studies. Spain presents a range of banks that have established a solid reputation for their services, solutions, and customer satisfaction. These leading Spanish banks have made a name for themselves in the market by offering both consumers and companies a smooth banking experience. These are some of the best banks In Spain for expats and students that you ought to give the most thought to.
1. Banco Santander
Banco Santander, based in Madrid, Spain, is one of the best banks In Spain for expats and students well-known both domestically and internationally. Offering a broad range of financial goods and services to both individuals and businesses, this bank is among the best in Spain. You can manage your finances while on the go with Banco Santander’s online services, which provide competitive interest rates through an easy-to-use mobile app. In 2017, Banco Santander acquired Banco Popular, one of the leading Spanish banks.
Important attributes:
- Reasonably priced interest rates for students who live there
- Competitive foreign transfer exchange rates
- An easy-to-use mobile banking app
2. BBVA
Due to their creative approach to banking, the majority of the institutions have experienced a notable increase in international prominence. Among the best banks In Spain for expats and students is Banco Bilbao Vizcaya Argentaria, which has a strong emphasis on digital solutions and has grown to become a household name. Through their intuitive mobile app, they offer a unique online banking experience that makes it simple to access your accounts, make payments, and keep tabs on your spending. In addition to being the most well-known bank in Spain, it provides a variety of customized financial products to suit your requirements.
Important attributes:
- Credit institutions’ deposit guarantee fund
- A special expedited procedure for students who are not residents
- A payroll account linked to a fee-free debit card
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3. CaixaBank
Every well-known bank in the world today is acknowledged to follow the banking standards that CaixaBank has upheld since 1905 and has a social responsibility that enables it to expand. Formerly known as CaixaCorp, this leading Spanish bank provides a wide range of banking services, such as loans, mortgages, and investment options. Additionally, CaxiaBank was among the first Spanish banks to adopt a universal banking concept! It is the first bank of Spanish origin and the best banks In Spain for expats and students because of its wide network of online platforms and mobile apps, which guarantee easy accessibility for both citizens and non-residents.
Important attributes:
- Customized for every client’s profile to improve mobility
- Digitalization without any problems at any time
- New debit card choices that let users use all advance
4. Banco Sabadell
The fourth-biggest bank in Spain, Banco Sabadell, prioritizes offering specialized financial solutions to its clients. It makes relocating to Spain easier and is a strong candidate among the best banks In Spain for expats and students. One of the greatest banks in Spain, Banco Sabadell takes pride in its innovative digital banking solutions and individualized customer care, which have made it a popular choice among its clientele.
Important attributes:
- Numerous debit and credit cards with cashback features
- A vast network of automated teller machines throughout Spain
- To make use of its increased size and capacity to generate profits.
5. Bank of Spain
The central bank of Spain is the Bank of Spain, popularly known as Banco de España, one of the country’s leading banks. Although it does not provide individual customers with retail banking services, it is essential to preserving financial stability and overseeing the local banking industry. The Bank of Spain is in charge of monetary policy, issues coins, and banknotes, and keeps an eye on banks to make sure they’re following the law. The list of the best banks In Spain for expats and students wouldn’t be complete without the bank of Spain
Important attributes:
- A crucial lesson for preserving price stability throughout the euro area
- Notable security methods to preserve the reputation
- A watchdog on the banking system in Spain
6. Bankia
One of the best banks In Spain for expats and students banks is Bankia, places a strong focus on openness, confidence, and client happiness. Due to its emphasis on corporate social responsibility, Bankia has emerged as a popular banking choice for both individuals and companies, placing it among Spain’s leading banks. The bank provides some goods and services, such as credit cards, investment options, and mortgages. Customers of Bankia are guaranteed a flawless banking experience because to its user-friendly mobile app and web platform. Bankia is currently one of the biggest banks in Spain thanks to its cross-platform effectiveness.
Important attributes:
- The multi-channel management-based universal banking business model
- Accounts for salaries with possible bonuses
- Premium accounts with extra features and free checking accounts
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7. ING
With its online banking services, the well-known Dutch bank ING has made a big impact in Spain. Current accounts, savings accounts, and mortgages are among the financial products available on ING’s online banking platform. One of the best banks In Spain for expats and students ING stands out due to the numerous benefit, they offers their clients a hassle-free banking experience with competitive interest rates, minimal fees, and an easy-to-use interface.
Important attributes:
- A user-friendly, high-quality online banking website
- Osko Pay eliminates waiting and delays
- Statements that are simple to access
8. Bankinter
Given their reputation for prioritizing reputation, Bankinter is perhaps among the best banks In Spain for expats and students. Offering cutting-edge banking products and individualized customer service, this is the greatest Spanish bank with a strong online presence. Banco Popular is a well-known bank that is ranked among Spain’s top ten banks. Among the many goods and services the bank offers are investment choices, mortgages, and accounts. Customers can easily and conveniently conduct their banking through Bankinter’s user-friendly mobile app and digital platform.
Important features:
- The availability of commercial, corporate, and small and medium-sized banking
- Accessibility for those who have limited mobility
- Students and young professionals can open free checking accounts.
9. Kutxabank
One of the top banks in the Basque Country, Kutxabank provides a wide range of financial services. The bank prioritizes giving each of its clients individualized attention and solutions that are designed to satisfy their specific requirements. One of the best banks In Spain for expats and students is Kutxabank, which offers easy access to your accounts with its mobile app and online banking platform, enabling you to handle your money effectively.
Important attributes:
- Dedicated to protecting the privacy of personal information and maintaining the confidentiality of our client’s data
- Possessing a complete mobile application platform with superior features
- Easy-to-use investing platforms and contactless payments
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10. Deutsche Bank Spain
One of the biggest banks in Spain and all of Europe, Deutsche Bank, has a Spanish affiliate called Deutsche Bank Spain. It offers a broad range of financial services, such as investment solutions, wealth management, business banking, and personal banking. Deutsche Bank Spain is also considered among the best banks In Spain for expats and students, which provides competitive products, individualized customer care, and cutting-edge digital banking systems to meet the various needs of its clients.
Important attributes:
- Europe’s top corporate bank, situated in the continent’s biggest economy
- To help companies in the collection and distribution of cash
- Business financing options for international trade
11. Banco Cooperativo Español
The best bank in Spain, Banco Cooperativo Español, is a cooperative that functions as a confederation of local savings banks, or Cajas Rurales. One of the banks In Spain for expats and students, it specializes in catering to the needs of farmers, cooperatives, and rural communities by offering specialized financial solutions specifically designed to meet their needs. A variety of banking services and products are provided by Banco Cooperativo Español, such as loans, savings accounts, insurance, and initiatives for rural development.
Important attributes:
- Financial services for corporations and private individuals
- It offers a moderate but steady profitability with strong risk.
- Cooperative cash management solutions
12. Bankoa
Bankoa is one of the Basque banks that cater to those who wish to earn competitive interest rates. One of the best banks In Spain for expats and students, it provides a basic money management desk to all individuals, businesses, and institutions in addition to a variety of financial services such as current accounts, loans, mortgages, investment products, and insurance. Bankoa sets itself apart with its dedication to providing individualized customer care, moral banking standards, and close relationships with the neighborhood.
Important attributes:
- To emerge with its VR rating unaltered because of the strategy and management’s relative strength
- Fund transfers, deposits, cards, and investment funds are all simple.
- Sturdy insurance, online banking, and pension schemes
13. Banco Mediolanum
A private bank with a focus on wealth management and individualized financial advising services is Banco Mediolanum. One of the best banks In Spain for expats and students, it provides a comprehensive banking experience by fusing standard banking services with financial planning and investment guidance. By offering individualized solutions, access to a variety of investment products, and a staff of knowledgeable financial advisors, Banco Mediolanum hopes to establish enduring connections with its customers.
Important attributes:
- Customized wealth management and investment guidance
- Services for portfolio management
- A private banking environment with special advantages
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Spain’s Top 4 Online-Only Banks for Students and Expats
Numerous online-only banks have emerged in Spain and are becoming more and more well-liked by both locals and visitors. To meet the demands of contemporary, tech-savvy customers, these digital banks provide a variety of banking services and features. Here is a quick summary of some of Spain’s top online-only banks along with some of their salient characteristics.
14. Openbank
Openbank, a wholly digital bank that provides a variety of banking services that are entirely accessible online, has emerged as one of Spain’s leading banks. The bank is a desirable choice for tech-savvy people due to its creative features, sophisticated security measures, and user-friendly layout. Customers may conduct transactions, monitor their spending, and access a variety of financial products using Openbank’s smooth digital banking experience making it one of the best banks In Spain for expats and students.
Important attributes:
- There are no costs associated with upkeep, management, or closing.
- Regular transfers are free.
- Free transfers of euros within the EU and Spain
15. Evo
One of the best banks In Spain for expats and students is the leading Spanish online-only bank Evo. Evo has become well-known for its cutting-edge financial services and easy-to-use digital banking platform. Evo is a fully digital banking experience that was created with the modern consumer in mind. It offers free regular accounts, debit cards, and international money transfers. This bank may be the greatest in Spain since it focuses on openness and ease of use, enabling its clients to handle their money with ease.
Important attributes:
- Immediate spending classification to assist you in controlling your spending patterns
- Regular bank accounts that don’t charge monthly costs
- A focus on data security and privacy
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16. N26
N26 is a prominent online bank that is expanding and aiming to be the greatest bank in Spain. N26 offers free basic accounts, debit cards, and international money transfers in addition to a fully mobile banking experience. As the most well-known bank in Spain, N26 is renowned for its cutting-edge features and easy-to-use software, which enable users to handle their money while on the go. With an emphasis on ease of use, security, and openness, N26 has grown in popularity among tech-savvy people and contemporary Spanish bank customers and stands as one of the best banks In Spain for expats and students.
Important attributes:
- Accounts with multiple currencies to facilitate cross-border management
- Real-time spending alerts and two-factor authentication
- Free international money transfers and a free debit card
17. Revolut
Revolut is one of Spain’s leading banks and a quickly expanding online marketplace. Revolut offers a wide range of financial services, including cryptocurrency trading, investment opportunities, and personal and business accounts. Among tech-savvy customers and businesses looking for a contemporary, all-in-one financial solution, Revolut has emerged as the best banks In Spain for expats and students thanks to its competitive exchange rates, fee-free currency conversions, and user-friendly mobile app.
Important attributes:
- To purchase and sell various cryptocurrency
- Enhanced spending-tracking capabilities and sophisticated budgeting tools
- Competitive exchange rates and fee-free currency conversions
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Factors to Consider When Selecting a Spanish Bank
Spain is typically the greatest place for a foreign resident to open a bank account because it provides greater flexibility depending on your needs, money, and present circumstances. Since opening a bank account in Spain is so simple, non-resident students should search for the top Spanish banks, like Banco Santander and BBVA. Despite having a Forex card for young workers or students, it’s fantastic to discover fee-free Spanish banks. You should be aware of the following before opening the finest bank account in Spain:
1. Students can take advantage of better interest rates on current and savings accounts. 2. Collect the required identity and documents.
3. Examine the accessibility and branch network.
4. Verify the availability of language support.
5. Examine the costs overall, as well as the fees and interest rates.
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You now have a thorough understanding of Spain’s leading banks and have determined the variety of possibilities you may trust. The best banks In Spain for expats and students cater to your specific needs with outstanding services, practical features, and safe financial options. The fees and application procedure for each of these banks vary according to the services you choose.
You may have a smooth banking experience and handle your money when you relocate to Sangrias by selecting one of the top banks in Spain. Amber is available if you are relocating here or are trying to find the ideal student housing in Spain. To make the most of your move to the Basque Country, you can also read through the advice on how to locate student housing in Spain.