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Opening a bank account in Spain

opening a bank account in Spain

Opening a bank account in Spain for non-residents

Not all banks can render services to the citizens of the Russian Federation in light of the current political situation. For example, if you want to buy a house and would like to open a bank account in Spain to transfer money for its purchase, you will have to prepare a required package of documents in order to verify the origins of the funds. After that, your request will be sent to the international bank department for further consideration. In other words, opening a bank account in Spain for a non-resident can take some time. If a bank approves the submitted documents and there are no objections, the account will be opened.

The most loyal banks for opening a bank account in Spain

Some banks, such as La Caixa, apply a cunning trick: the bankers are ready to open an account for non-residents only with the purchase of an external service – health insurance. If he or she does not have consent for the health coverage, a non-resident of the country is unable to open an account at this bank.

The Spanish bank Sabadell is known to be one of the most loyal banks that does not require the purchase of any external services. At this bank, one can open an account with a passport only, even if the prospective account holder is not a resident of the country. Such an account is termed a key account, wherein the medium payment per trimester in support of the account is 27-30 euros. Hence, in order for a non-resident to open a bank account in Spain, it is crucial to have a valid passport as well as to know the current bank policies pertaining to opening bank accounts for foreigners.

banks for opening a bank account in Spain

Only the residents of the country can open a bank account in Spain online. Non-residents can order the opening of the account, but they are required to appear in the bank department in person in order to present the necessary documents and to sign the requisite forms.

On the other hand, opening a bank account in Spain from the UK is not possible if one is not the holder of a Spanish residence permit.

In any case, it is highly recommended that foreign citizens appear in person in order to open a bank account.

INEEDSpain service center can assist you in opening a bank account in Spain for non-residents. This service includes the selection of a bank, consultation on the required package of documents (for instance, when opening a bank account with the purpose of buying property in Spain), as well as the translator’s escort of a client at the time of the bank account opening.

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