Surely, you’ve given this a thought. Opening a bank account is one of the first steps you need to take when settling down in Madrid. Once you are a resident and have NIE, you can open an account in any bank as if you were Spanish. It’s common to need the bank account before you become a resident.
You may need it to set your home utilities since most companies require direct debit payment. If you don’t have the bank account you may be missing the best Internet and mobile options.
It’s also essential if you work for someone else and need to receive a salary.
Even, in certain cases, you may need it to provide the additional payment guarantees that some landlords require to sign the lease.
In case you want to open a bank account before you have a residence permit, you may consider a non-resident bank account. As soon as you receive your residence permit and submit it to the bank, the account will instantly become a resident one.
In order to apply, banks value personal circumstances very highly: if you are in Madrid hired by a company, you will have no problem. In the rest of the cases, the Bank may request all the documentation it deems appropriate. In most cases, a passport and a certificate of non-residence issued by a police station will suffice.
Non-resident accounts have a definite duration, they must be renewed from time to time with proof of non-residence.
Especially designed accounts for international clients
The Hola Bank account at CaixaBank is a non-resident bank account designed for foreigners who spend time in Spain. In addition to financial services, it offers a series of additional services such as legal advice in several languages and access to translations and interpreters.
This account does not appear in the Spanish version of the website.
Customer attention is paid in Spanish, English, French and German. And the website is also available in these languages.
Banco Sabadell’s Key Account is a special account for international clients. In addition to financial services, it offers a free translation service. The website is in Spanish, English, French and German.
Banks with English website
BBVA‘s website is available in Spanish and English. There is no specific account for international clients.
And finally, Banco Santander. The website is only in Spanish and has no specific account for international clients. But it has an interesting offer for residents’ accounts.
There are more Banks in Madrid (none with special accounts for international customers) but these mentioned above are the most important financially and have the largest amount of offices and ATMs around the city and the country.
Some tips:
💶 If you are not a resident and want to open an account, CaixaBank and Banco Sabadell will make it easier for you.
💶 If you are already a resident, you can choose any bank and probably the most important thing to consider are the fees you would be charged. There are accounts without commissions and even some that return a percentage of some of the expenses you have direct debited.
💶 If you already have a residence permit you can open an account online, otherwise you will have to go to an office.
💶 It’s interesting to contact the banks before your arrival and bring the prepared documentation. You will also be able to check which ones offer you the best attention and you will even be able to make an appointment in the office that best suits you.
If you plan to move to Madrid soon, you will find all the relevant information in The secret of relocating to Madrid. If you also need help with the organization or even that we accompany you, check out our services.
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