Opening a Bank Account in Spain

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    • #188179

      Hi everyone. I’m just starting my search for somewhere to retire to in Spain. Can anyone point me to the best website for instructions on how I open a bank account in Spain? I’m assuming that this is absolutely necessary. I’ve been told it’s a complicated procedure compared to the UK and wonder if I should pay an agency to do everything for me.

    • #188180

      Hello PeterR,

      My wife and I have an account with Deutsche Bank which works very well for us. We opened it three years ago when we bought a property in Barcelona. The procedure was very straight forward. All the neccessary paperwork was done in a single meeting with an english speaking manager in the branch. Unlike other banks I researched, Deutsche Bank didn’t charge a fee when we transfered the cash for the property purchase. So far, all transactions have been dealt with efficiently and our branch manager and staff have always been very helpful.

      Best wishes for your retirement !



    • #188238
      The Morgans


      Indeed,very easy to do, perhaps a tad too easy, all we needed were passports, nei numbers and away we go,took about 20 mins,including coffee! We did this while visting Malaga and we were able to arrange for collection at a more local branch………..ah BUT {there’s useually a but} they forgot to mention that they would send out a test letter to our house which we would need to get our cards, luckily we spotted aforementioned letter whilst Iwas breaking into our mail slot{no key supplied ho hum…} and we have it ready. These external mail boxes are a real weakness{took me less than a min to get in} so we are trying to limit the amount of mail if at all possible!

      cheers The morgans

    • #188362
      Chris Nation

      As always with this question, the possession of NIE is mentioned. I have opened two bank accounts in Spain, different banks, one Malaga [c 2006], one Gandia [2015], without an NIE. I have no idea how this is possible but that’s how it was.

      La Caixa seems well thought of. Their i/net banking pages can be had in English. I’m fortunate that my branch manager in Gandia did his MBA in Leeds, so speaks excellent English. It was all so straightforward. One big difference to opening an a/c with an English bank is that one walks back onto the street with a live debit card – no waiting around for one via sign-for post.

      The mob you need to look out for are the estate agents. Be aware that if the approach to an agent is via an intermediary [your ‘wing-man’], the agent may well try to unload some of his commission onto you by telling your ‘wing-man’ that he is to charge you 2.5-3% of the sale price, rather than all of the agent’s commission being paid for by the seller – which is the m.o. you will find described elsewhere in Mark’s advice pages and everywhere else.

      I guess they do this to persuade the seller to deal with them [Any one Spanish property is frequently offered by many agents at a variety of prices. A flat on my ‘faves’ list is on offer at €122k, €120k, €119k, €117k, €110k and €105k] because, by reducing the seller’s commission charge by 50%, the agent is offering the seller a greater nett sum. He gets a sale which he might not have made. The agent comes out smelling of roses with the seller and the intermediary, who will, of course, remember how profitable it was to introduce buyers to this agent…..

      Have nothing to do with this m.o. If you engage a ‘wing-man’, which it sounds you would be well advised to do – agree a fixed fee or a % in advance. I have agreed 1%. My ‘wing-man’ has been offered the ‘get 2.5% from your buyer’ deal and – stout English chap that he is – has turned it down.

      Best of luck


    • #188779

      I would recommend Deutsche Bank too.

      I needed to open an account quickly and they were brilliant.

      All I had was my British passport and a rental agreement for the flat where I live.

      I do not have an NIE number.

      They opened a “non-resident” account for me.

      I presume I cna change it to a resident account when I get my NIE number.


      By the way…if you are transferring £ to your bank account in Spain, try transferwise…   They give an amazing rate…!!





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