Best Bank Accounts in Spain for Expats (2026)

Compare the best Spanish bank accounts for expats. Digital banks, traditional options, fees, and everything you need to open a bank account in Spain. Updated March 2026.

Tax note for Spain: Spain applies a 19% withholding tax on savings interest (up to 6,000 EUR), rising to 21% (6,000-50,000 EUR), 23% (50,000-200,000 EUR), and 28% above 200,000 EUR. The Beckham Law allows certain expats to pay a flat 24% income tax rate for six years. Banks automatically withhold tax on interest earned.

Our pick for Spain

Wise — Real exchange rate, no hidden fees

Trusted by 16M+ people worldwide. Send, spend, and receive in 40+ currencies at the real mid-market rate. Multi-currency account with local bank details in 10+ countries. No monthly fees.

Open free Wise account

Free to create an account. Fees apply to transfers and card usage.

Bank comparison for Spain

Bank	Monthly fee	Card fee	ATM withdrawals	FX fee	Best for
Wise	0 EUR	7 EUR (one-time)	2 free/mo, then 0.50 EUR	0.33-0.6%	International transfers	Open account
Revolut	0 EUR (free plan)	0 EUR	200 EUR free/mo	0% (weekdays)	All-in-one app
N26	0 EUR (Standard)	0 EUR	3 free/mo, then 2 EUR	1.7%	Free digital bank
Openbank	0 EUR	0 EUR	Unlimited free (Santander ATMs)	0% (EU)	Free with huge ATM network
BBVA	0 EUR (online account)	0 EUR (debit)	Unlimited free (BBVA ATMs)	1.5-2%	Best mobile app
bunq	0 EUR (Easy Money)	9.99 EUR (one-time)	Limited	Real-time rate	Green banking

How we chose these banks

We compared over 15 banks available to expats in Spain, evaluating monthly fees, card costs, ATM networks, FX rates, ease of account opening, and mobile app quality. Spanish deposit protection covers up to 100,000 EUR per person per institution under the Fondo de Garantia de Depositos (FGD).

Openbank is the digital subsidiary of Santander, giving you access to the largest ATM network in Spain at no cost. BBVA has consistently been rated as having the best banking app in the world. Both accept applications from expats with a NIE number.

What to look for as an expat in Spain

NIE number -- You need a NIE (Numero de Identidad de Extranjero) to open a bank account at most Spanish banks. You can apply at a police station or Spanish consulate. Wise and Revolut can be opened with just a passport.
Spanish IBAN (ES) -- Employers and landlords typically require a Spanish IBAN. Openbank, BBVA, and N26 provide ES IBANs. Wise provides a BE IBAN.
Bizum -- Bizum is the dominant peer-to-peer payment system in Spain, similar to Venmo. It works with Spanish bank accounts from Openbank, BBVA, and other local banks. Digital banks like N26 also support Bizum.
Domiciliacion -- Setting up direct debits (domiciliacion) for utility bills and rent is standard in Spain. All local banks support this; Wise and Revolut have more limited direct debit functionality.
Modelo 720 -- If you hold more than 50,000 EUR in bank accounts, investments, or property outside Spain, you must file the Modelo 720 declaration. This applies to your foreign accounts, not your Spanish ones.

Calculate your Spain salary first

Know exactly how much you take home after IRPF, social security, and regional deductions before deciding how to manage your money.

Spain salary calculator