Before opening of a bank account in Spain you should know that there are over 170 financial institutions on the market that are divided between cajas and bancos.

Bancos, so banks, are normally national chains, among which the most popular ones aere:

• La Caixa,
• BBVA,
• Santander,
• ING Direct,
• Banc de Sabadell,
• Banco Popular.

Cajas are financial institutions owned by state. They are normally local ones with just few branches in specific areas.

You can open a bank account before you move to Spain or once you arrive.

Opening a bank account before your arrival to Spain:

Even though it is easier to open a bank account in person once you are already in Spain, many banks will accept the opening of the non-resident accounts. In ICS we would be happy to assist you with this process with the power of attorney.

Opening a bank account once you have arrived in Spain:

It’s most recommendable to open the bank account upon your arrival to have a chance to choose the most suitable bank.

In order to open the bank account, you should present the following documents:

1. Passport,
2. NIE number,
3. Proof of address (like for example ‘empadronamiento’),
4. Employments status confirmation (like for example work contract, student card, unemployment document, etc).

Sometimes the banks might request additional documentation, like for example; tax declaration for last 3 years or bank movements for last 6 months.

Please remember that each document that is in a foreign language, must be translated to Spanish by a judicial translator and apostilled, if required.

Please contact us for more information!