Bank Accounts
It may be difficult for feoreign people to open bank account in Spain, mainly because of implemention of the Anti-Money Laundering Law. Banks are required to strictly check all users’ money transactions and income of unknown origin. In addition, banks are obliged to verify the identity of the account holders, so they will ask the account holders to update their identity information from time to time. In addition to the well known local banks (BBVA, SANTANDER, CAIXABANK and SABADELL), there are also some other where you can open accounts:
- ING Direct
A bank based in the Netherlands. The disadvantage of this bank is that it has few branches in Spain, but most of the operations can be done online.
2.Deustche Bank
A German bank in Spain. The disadvantage of this bank is that there are fewer branches, but most operations can be performed online.
3. Kutxabank
Headquartered in the northern Spanish city of Bilbao, it was founded in 2012 and is relatively small with few branches.
4. Caja Rural
Caja Rural is not a single bank, but an alliance of dozens of credit cooperative that use the same brand. Because of this, the name of each member bank is Caja Rural + the name of the place. So you can find it even in small cities.
4.Cajamar
Cajamar is a financial institution that operates as a rural cooperative.
5. Ibercaja
A Spanish bank based in Zaragoza. It was formed by the merger of several small banks. It is not very large, but it has branches in many parts of the country.
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6.Evo Banco
Newly established Spanish bank in 2012. Now acquired by Bankinter Bank. It is a new type of online commercial bank. Currently there is only one office in Madrid.
7. Abanca
A well-known bank in the Galicia region of Spain.
In fact, besides finding a bank that suits your needs, the main thing to open a bank should be a good attitude of the staff and that the bank does not exclude foreigners. Since the above mentioned banks are either small or belong to foreign banks, the barrier to open an account should also be lower.
