Best Bank for Expat Moving to Spain
Moving to Spain? You'll need a bank account to pay rent, set up utilities and receive your salary — but getting a traditional Spanish bank account requires a NIE number and local address. Here's how to bank smart from day one.
Top picks
Revolut
Open from UK or anywhere before you arrive. Instant virtual card, no NIE required, works at any contactless terminal in Spain.
Wise
Best for receiving salary in EUR. Real Belgian IBAN, mid-market exchange rate, no NIE needed.
N26
Full EU bank account once you have your NIE and a registered Spanish address. Free Standard plan.
Nickel
What you need to know about banking in Spain
Opening a traditional Spanish bank account — at Santander, BBVA, CaixaBank or La Caixa — typically requires your NIE (Número de Identidad de Extranjero), a Spanish tax identification number for foreigners. Getting a NIE can take weeks or months after you arrive. Until then, you are effectively locked out of the traditional banking system.
The good news: digital banks have solved this problem entirely. Several well-established fintechs let you open a European account — with a real IBAN — before you even land in Spain.
Banks that work before you have a NIE
These banks do not require a NIE, Spanish address, or in-person appointment:
- Revolut — Open from any country, any device. Get a virtual card within minutes.
- Wise — European IBAN (Belgian), ideal for receiving salary in EUR.
- Nickel — Available at Spanish estancos (tobacconists). Open in person with just your passport.
Step-by-step approach
- Before you arrive: Open a Revolut or Wise account. Download the app, verify your ID, and get a virtual card immediately. This gives you a way to spend on arrival without carrying large amounts of cash.
- First week in Spain: Start the NIE application process through your local extranjería office or a Spanish consulate in your home country if possible. This takes time — prioritise it.
- Once you have your NIE: Open a Nickel account at a local estanco for everyday Spanish banking, or open an N26 account (requires EU address and ID but is fully digital). At this stage many expats keep both Revolut and a local account.
- Long term: Consider a full Spanish bank once you have your NIE, especially if you need a Spanish mortgage, car loan, or local direct debit network.
Top picks for Spain
1. Revolut — Open from anywhere, works immediately in Spain, no NIE required. The free Standard plan is more than enough for the initial months. Accept in euros, avoid foreign transaction fees, and use at any contactless terminal across Spain.
2. Wise — If you are receiving your salary or freelance income in EUR, a Wise account gives you a real European IBAN you can provide to your employer. The mid-market exchange rate is unbeatable if you are also converting from GBP or USD.
3. N26 — Once you have your NIE and a registered Spanish address, N26 is an excellent free digital bank that operates fully in Spain. The Spaces feature helps with saving goals for things like a security deposit or a car.
4. Nickel — Available in thousands of Spanish estancos. Walk in with your passport, leave with a working Mastercard. Especially useful if you prefer in-person setup or have had trouble with digital verification systems.