Opening a Bank Account in Spain: What Our Community Members Actually Use

Thinking of setting up a bank account in Spain? Whether you’re fresh off the plane or finally getting around to switching from that old international card that’s constantly getting declined, here’s the inside scoop from real people living in Las Palmas de Gran Canaria. No banking jargon, just actual experiences with Spanish banks—good, bad, and occasionally rage-inducing.

🏦 BBVA: Easy Setup Without an NIE

Several community members said BBVA was their first stop—not necessarily because they chose it, but because it was easy. A few were able to open BBVA accounts without an NIE, often as part of a package with private health insurance. These accounts are free as long as you deposit a small amount every few months, and they work well for paying rent or other basics.

✅ Pros: Free with small activity, English app, works well for basic needs
❌ Cons: Limited ATM flexibility (especially outside cities)

📱 ING: Digital-First, Fee-Free

One long-time resident swears by ING. They’ve used it for over a decade without fees, and the interface is simple and modern. Almost everything can be done online, but if you ever need in-person support, there’s a physical ING office right here in Las Palmas de Gran Canaria.

✅ Pros: No fees, solid app, good for investments, physical branch available in the city
❌ Cons: Limited branch network outside major cities

🔴 Santander: Widely Used, But Mixed Reviews

Santander is a common choice for new arrivals, offering non-resident accounts for around €15/month. However, opinions are split. One expat reported getting hit with hefty fees after a period of inactivity—despite no account use—and another was charged €60 just to close it. Let’s just say: keep your eye on the fine print.

✅ Pros: Easy setup, widely accepted, good for residents and non-residents
❌ Cons: Steep fees, poor communication, difficult account closure

🏠 Caixa/Holabank: Friendly for Foreigners, Frustrating if You Need Help

Holabank, part of Caixa, is designed with non-residents in mind and is easy to open without an NIE. Unfortunately, their support system has a reputation for going radio silent when problems arise. If all goes smoothly, great. But if something goes wrong, prepare for a bit of a chase.

✅ Pros: Easy to open, non-resident options
❌ Cons: Communication issues when things go wrong

💸 OpenBank: Free & Online, But Use Caution

OpenBank, the digital child of Santander, is another zero-fee option. Some locals use it to pay taxes and social security, but treat it like a transfer platform rather than your main bank. One resident noted concerns about security and keeps balances low, transferring in and out as needed.

✅ Pros: Free, quick transfers, works for basic tax and social security payments
❌ Cons: Not ideal for long-term savings or large deposits

🌍 Revolut & Wise: Great for Travel, Not for Spanish Bureaucracy

Love ‘em for travel, hate ‘em for paperwork. Several members mentioned using Wise or Revolut for currency exchange and sending money fast. But when it comes to paying fines, taxes, or anything linked to official Spanish systems, you’ll probably hit a wall.

✅ Pros: Great for transfers, multi-currency, easy to manage
❌ Cons: Not connected to Spanish tax office systems or usable for formal immigration/business processes

🟢 N26: Not Quite the Spanish Dream

This one sparked debate. Some users love it for everyday personal use—it’s app-based, slick, and offers a Spanish IBAN. But here’s the catch: it’s not a full Spanish bank account. That means it’s not connected to the Agencia Tributaria (Spain’s tax office), so you may be limited when it comes to paying fines or submitting official forms.

✅ Pros: Spanish IBAN, great app, no fees
❌ Cons: Can’t handle all tax-related transactions, not ideal for official paperwork or business

🧾 What Counts As a “Real” Spanish Bank?

Here’s the key point one seasoned contributor flagged: a “real” Spanish account must be connected to Agencia Tributaria (the tax office). Many online banks (like N26, Revolut) aren’t, which limits what you can pay for electronically—like some fines, tax forms, or social security fees.
👉 If you’re unsure, you can check the official list of accepted banks for tax payments here.

🎯 So, What’s the Best Option?

Honestly, it depends on your needs:

• Just arrived, no NIE? → BBVA or Holabank
• Digital-first and fee-free? → ING or OpenBank
• You need to pay taxes or register a business? → Stick with BBVA, Santander, Caixa, or Sabadell
• You love fintech and travel often? → Revolut or Wise (as a backup)

💡 Final Tips

• Check if the account includes free debit/credit cards
• Ask about minimum deposits to avoid fees
• Confirm whether the account is suitable for official payments if you’re planning to use it for immigration, tax or business
• Avoid storing too much money in banks with poor customer service—you don’t want to fight for your own funds later