How to Open a Non-Resident Bank Account in Spain

If you’re traveling for an extended period of time, making a temporary move or studying for a semester in Spain, you might benefit from opening a non-resident bank account in Spain. ATM fees and credit card fees for using your credit card or debit card in a foreign cash machine or store can cost you a pretty penny, sometimes up to $8, every time you use it. If you’re going to be in Spain for a month or longer, you’ll want to save yourself the hassle of paying to access you own money. It’s your money, after all, you should spend it the way you want. Here’s how to open a non-resident bank account in Spain.

Things You'll Need

• Proof of address
• Passport
• Spanish PO Box
• Internet
• Computer
• Spanish dictionary
• Translator (optional)

Instructions

1. Choose a bank. La Caixa is an easily accessible bank in Spain and may arguably be the cheapest for non-resident bank accounts. Ask around. The Spanish people are very friendly and will be open and willing to share their thoughts on banks in Spain. Make sure to choose a bank that has several branches, so that you can access the ATM machines with ease.

2. Get a local address. While some banks may not require you to have a local address, many will, so you should have proof of a local address, like a piece of a mail showing your name and the address or you'll need to register for a PO Box at a local post office.

3. Get your account. Bring your passport and proof of a local address - any piece of mail with your name and address on it - and ask a teller or bank assistant for a non-resident bank account or Cuenta Corriente.

4. Bring help. Depending on where you are in Spain, you may need a Spanish translator. If you do not speak Spanish, have your request written down in Spanish on a piece of paper or bring in a friend or acquaintance who does speak Spanish to help you.

5. Pay the fees. Most non-resident bank accounts will cost EUR 3 per year to maintain, so make sure that you always have at least EUR 5 in your account at any given time.

6. Start using your card. An debit/credit card from a Spanish bank institution works the same as your US cards, so you can use them in any store or ATM that carries your cards logo. Only get cash from your banks ATM to avoid the steep service fees.

Tips & Warnings

• If you don’t have an address in Spain, you can register at a post office (Los Correos) for a PO Box.

• Non-resident bank accounts do not offer overdraft protection, so make sure to always keep a balance in the account.

Resources

• Read this Article in Spanish
• La Caixa
• Correos (Post Office)
• Banks in Spain