Need to give this to employers. Does anyone know if a Revolut account can be used as proof of funds? It used to be notoriously tough to get an account, but it’s recently become more straightforward. Their website and documentation are only available in Spanish, so I wouldn’t recommend this account if you’re not very fluent, especially since everything is done online. Keep in mind that terms can change at any point with Spanish banks, so you’ve got to be on the ball and read any communication they send you. I’m a dual Polish/Canadian citizen (resident of Canada) in Spain for a year or more (or forever) and I’m having a difficult time opening a bank account here. With these papers in hand, you can then ask for a UPS courier to collect the documents at your convenience and at no charge. Was that your predicament? Other country guides: How to open a bank account in the US, Canada or Australia as a non-resident. Example usage of calculator for United Kingdom: choose country United Kingdom (UK) enter Sort Code - 200415 and account number - 38290008. Similar to you, my employer is not based in Spain. And yes, I appreciate that the above may not have changed much as it’s mostly other banks – not the above – that are making changes. We are here to help you. Signing up is simple and done through their website. It’s not the best account to choose if you’re here in Spain temporarily or if you’re a non-resident. Revolut shows you real-time cryptocurrency graphs which shows you current rates. You can use the ING Direct mobile app to make payments without your debit/credit card in shops, and you can also send and receive money to/from friends with the Twyp Cash app, up to 1,000 Euro per year. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Their best offering at the moment is Cuenta ON, which gives you zero commissions, similar to ING Direct. IBAN Structure & Examples I am also concerned about any changes due to brexit, but guess no one knows the implications currently (though please tell me if you do! With linked accounts. I have tried phoning Customer Services but as soon as I ask for someone who speaks English the call is terminated. Before you even attempt to open a bank account, make sure you have the following documents handy as you will need them. Hi Jean – fellow Maltese in Spain here. Evo Banco was one of the pioneers of the digital banking revolution in Spain, so it is a good option if you are used to conducting all your banking online, but not so good if you like being able to walk into your bank to conduct transactions. Incredibly useful for those of us who have many debit and credit cards. I have tried at least 4 times with the application process blocked before completing the form. This allows banks to correctly process international money transfers. thanks. Every N26 bank account is guaranteed by the Compensation Scheme of German Banks up to €100,000. A foreign account is good enough for proof of funds to get the NIE. In my case they started doing this about 1 month ago and asked for a document confirming my status as autonomo. Making a bank transfer. ES !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)? You can then proceed to visit the local offices of the shortlisted banks and get a feel for the kind of people that work there and get more information about their products. This means that if you use the N26 account for your taxes and SS, it will be impossible to collect benefits such as paro, ERTE, parental leave, possibly even pension. You can send a bank transfer to anyone with a UK bank account. A foreign bank account is not that useful in Spain as many institutions rely on direct debits to a local account. Please remove this comment to prove you're human. I was asked to contact a branch to open an account but I am trying to avoid those crazy fees the banks are asking for doing nothing.. You can use your Self Bank debit card to withdraw money at no cost from more than 9,500 CaixaBank ATMs around the country. Self Bank is an online bank with no offices. Because of these reviews I am rather reluctant to use the account for anything other than pocket change. Hey Nikki, I’ll update it if I come across new information, but it’s not something I keep on top on a daily basis. Otherwise, you will need to invite three or more friends to use the app to unlock the feature. Every country will have a different IBAN length. I recently got a Revolut account, including card and benefits. I will make a fixed monthly transfer from my Foreign account into this account. No idea how to open the online account…. IBAN (which stands for International Bank Account Number) is an internationally agreed code made up of up to 34 letters and numbers which helps banks make sure that international transfers are processed correctly.. Validate an IBAN and find BIC (SWIFT) and the domestic account number and bank code. The big disadvantage of using Revolut at the moment is that you don’t get a Spanish IBAN. If you’re worried about managing multiple cards, have a look at the solution I found for that further down in the article. Is adding money with my linked bank account safe? Although according to EU rules, businesses here in Spain should accept European IBANs for direct debit purposes, in practice there are some big companies that still refuse to do so. We’re a licensed bank, 100% digital and secure. It comes with a debit card so you can pay and withdraw money at ATMs once you come to Spain with much lower fees than with your bank. I’m trying to open the BVVA online account, but my employer isn’t a Spanish company and I’m stuck and can’t complete the online application. Have you heard anything about this? One app for all things money. Hi! When you open a bank account at any entity, be aware that they will usually ask for your passport and your NIE at the very minimum. I’m a non-EU foreigner with legal Spanish residency. The best thing about Cuenta ON is that it is completely commission-free. The ING Direct web and mobile interface is great, and they have a good portfolio of related services such as Broker Naranja for investing in the stock market internationally. I went to the branch and they don’t give you the free online account. Unless you put minimum of 800 euros a month into the account and accept the obligatory credit card you will be charged for every debit and transaction. Regarding N26, I opened an account with them but then read a bunch of really scary reviews on trustpilot according to which N26 froze people’s accounts for no reason and did not reply to client requests to have them unfrozen. I also opened an ccount with BBVA but am still waiting for them to activate it (10 days and counting so far – not impressed). Their offices always make you feel welcome and their staff usually speak English. Banks are on the lookout for money launderers and have very strict parameters within which to operate. Greetings. Best of all, it is all available in English, which is perfect for ex-pats. You mention that you are happy with BBVA. Let’s move on to Bankia now. Thanks in advance. They will not accept a uk mobile. I live in uk and am english but want a non resident bank account in Spain. Revolut’s aim is to make cryptocurrencies accessible. Revolut stands out from its competitors in cryptocurrencies. Monzo does say that the payment might take several days, or may not reach your account at all. You will then have to wait a few days until the papers arrive at the Self Bank offices in Madrid. Over the years, I’ve come to prefer the online banks, so here would be my favorite options: Accounts for traveling outside the Euro zone: Good luck with opening a bank account in Spain, and if you have any questions feel free to ask in the comments section. The traditional way would be to actually sign up to a bank in order to be able to access its savings products, which is incredibly more laborious and harder for the customer to compare offers between banks. That’s it. … This makes it easier to read and check. and If you are 18 or older, live in Spain and are not a BBVA customer, you can open and enjoy all the advantages of this account. Or it’s not good enough in Spain? Failing that, visit a branch. Agreed with all your comments. Self Bank has a modern website and account management interface and is one of the best-regarded online banks. However, there are some good online options if you’re seeking some return on your money. That said, compared to some of its brick-and-mortar rivals, it’s missing a few important features. If you’re opening your first bank account in Spain with one of the local banks: The proof of income documentation is not always required. Their savings account offers 0.15% returns. Next, a courier will come to your house within a few days to give you your debit card, and you will need to give him a copy of your identification documents (passport and NIE usually). I have been with ING for 5 years and can fully corroborate your experience regarding them blocking incoming transfers for no reason. Since April 2019, N26 gives its Spanish users a Spanish IBAN account, so you will be able to use the bank for any direct debits as you would use other Spanish bank accounts. Raisin puts more than 70 savings products at your disposal. I added money with my linked bank account, but I can't see it on my account in Revolut; Can you do anything if I have a problem using my linked bank account to add money? When you sign up, you will need to choose between three account tiers, starting at €0 per month for the Standard account. So I am surprised to see it in the list of non-commission banks. They might also ask for things like your rental contract, statement from your foreign bank, tax statements from your previous country of residence etc. Hi Steven and thanks. Keep in mind that banks do discriminate openly against citizens of certain countries that they deem to be on their “blacklist”. I would like to know whether opening the BBVA Cuenta Online will incur any maintenance or management fees ? ‎Open your mobile money account in minutes, with Monese. BBVA is a Spanish bank with an excellent reputation, and their mobile app has won numerous awards. I now can’t just have Sabadell because of the 700 euro entry per month (which currently goes back and forth) I don’t like either due to so many charges and such incompetence (CR). You can spend in over 150 currencies at the interbank exchange rate and exchange 29 fiat currencies. I haven’t come across this bank before and I’m not sure whether they have any presence in Spain. These were prepaid Mastercards which the user could top-up via bank transfer or via an existing … We’re the banking alternative that offers you fast accounts in 31 countries. I think that with Spain being Spain, if your finances are based in the country (which is something you will need to do if you’re here for the long haul) I would still opt for a Spanish bank, even if the service and system is not always ideal. With Bankia, you can send or receive money from friends using the Bizum system, and you can also use Bankia Wallet to pay directly with your mobile phone, in a similar way to ING Direct’s Twyp Cash. You will then need to print a paper and sign it, as well as take a copy of your passport and NIE. I suggest that you use TransferWise for your conversions as you will save a ton of money versus any local bank. However, at the time of writing, this was still being put into place. You can also withdraw for free with the same condition from the following banks: Bankia, Abanca, BMN, Ibercaja, Kutxabank, Unicaja, Liberbank, EspañaDuero, Cajasur, Caixa Ontinyent y Colonya Caixa Pollença. Pretty please… Are you planning to update this soon? In order to open your account, they will ask you for another account at a local bank for verification purposes, so this cannot be the first bank you open. It’s very frustrating. anon33247966. Our Financial Services Register number is 730427. Before you move abroad consider opening a TransferWise multi-currency account. For now, Revolut still has obligations to safeguard your funds in a separate bank so you can get them back should anything happen to Revolut. You are charged at least a 1% markup for currencies such as the Thai baht, Russian rouble, Ukrainian hryvnia and the Turkish lira. I find it extremely convenient to be able to access all these investment products in one place. For example, if you want to make a transfer, you would do it online rather than visiting the branch and asking them to do it for you. Revolut is a digital banking app and card that focuses on technology, low fees and premium features. My requirements are: to hold my money, pay some direct debits (taxes, electricity, home insurance), online access, no monthly pay slips or entries, no spanish phone number. An IBAN is an internationally agreed code of up to 34 letters and numbers that identifies a particular bank account. You will need it for several things, most importantly for paying your monthly rent. Perhaps you are already thinking of a loan or mortgage, or you’re interested in finding a bank with great stock brokerage facilities, or even other products such as life insurance or deposit accounts. Another way to have the account for free, is being a shareholder of the bank. It is now one of the top 5 largest Spanish banks. The only way to be charged no commission is to put 700 euros every month and once it is not possible it goes back to charging and stays there. For more information on data accuracy, please visit our data page. Rebellion Pay is a product that is clearly targeted towards teenagers and people in their twenties. In 2017, it became the first challenger bank to let customers buy cryptos within the app. Thanks for that. You’ll need the name of the person or company you’re sending it to, and their account number and sort code. See the IBAN Example page for examples of IBANs in various countries. Their website is available in multiple languages including English. Since April 2019, N26 gives its Spanish users a Spanish IBAN account, so you will be able to use the bank for any direct debits as you would use other Spanish bank accounts. Join over 2 million people and enjoy a full range of features - all celebrated by a great 4.1/5 Trustpilot score. I filed an official complaint with them (to no avail) and 2 weeks later with the Bank of Spain but well, this being Spain it will take months of waiting until nothing happens in the end so …. I haven’t been to a bank in years myself, so I much prefer these digital banks. I have been a customer for over 20 years & have also been until now. BBVA Cuenta Online – this is Only for new customers. How can I add money using my linked bank account? I contacted some people within Revolut, but beside a very friendly conversation, I don’t have any solution regarding this issue, as keeping this account on the background instead of using it as a primary account. 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