Can a foreign non-resident in Spain open a bank account? (2024)

FAQs

Can a foreign non-resident in Spain open a bank account? ›

Yes, a foreign non-resident in Spain can open a bank account. To do so, they must take an ID document (normally a passport) and a certificate of non-residency to any of our branches.

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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.

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country.

You can open a non-resident account in Europe with the expat division of a global banking branch. However, you may find it easier and cheaper to get an account with a specialist online provider instead.

Yes, a foreign non-resident in Spain can open a bank account.

The minimum income for Spanish residency for non-EU citizens, UK nationals included, is €2,400 for a regular guaranteed monthly income or a yearly income of €28,800.

Can I use my U.S. Bank card in Spain? ›

Yes. Cards issued by U.S. Bank can be used in most foreign countries for transactions.

Update July 10 2021. The amount of 1000 euros maximum payments in cash is now law. The total was 2.500, proposed the Consejo de Ministros early December 2016 to be lowered to 1.000 but that has never made it into law.

You can expect to find that withdrawals are capped at around EUR300, although different banks can set their limits as they wish. It might also be possible to take out cash in several separate transactions from the same ATM - although you might then pay more in fees.

As you will soon read in this article, Portugal is one of the easiest countries to open a bank account if you are a non-resident of the EU.

It's possible to open a bank account in Europe for many US citizens. However, providers, such as Wise offer multi-currency accounts in several different European currencies. You can also get a card that lets you spend like a local in over 170 countries.

Large banks

However, larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account. Instead of your SSN, they'll ask for an Individual Taxpayer Identification Number (ITIN) and other documents.

Documents that prove the address:

Rental contract (if the contract has been extended, proof of payment of the last month's rent should also be attached) Last telephone, water, electricity or gas bill, or contract formalized no earlier than a year prior to the application.

2. - Opening a bank account in Spain. You will need a bank account in Spain to pay the utilities invoices and the fees of the Community of Property Owners. In the case that you obtain finance to buy the property, you will also need a bank account for the mortgage monthly repayments.

What is a certificate of non-residency in Spain? The certificate of non-residency or 'Certificado de no Residente' in Spanish is an official document for use by both EU and non-EU citizens who wish to prove their residency status for economic, social, or professional reasons.

To open a USD account with Chase you'll need to have a US address. If you're not living in the US — or if you simply want a more flexible account you can open from anywhere — check out Wise.

Can you open a bank account in another country without being a resident? ›

Yes, but you will likely need to provide extra documentation to verify your identity, place of residence, and the legal purpose of the account.

Yes, depending on the type of bank you are able to open a bank account without your NIE number. Some banks that offer the possibility to open a bank account without a NIE number: LaCaisa, Bankinter, Santander and Sabadell. Get in touch with the bank of your preference to see what the possibilities are.

Spain is a party to the Schengen Agreement. This means that U.S. citizens may enter Spain for up to 90 days for tourism or business without a visa. Your passport should be valid for at least three months beyond the period of stay.

How long can I stay in Spain without becoming a resident? You can stay in Spain for a maximum of 183 days per year (6 months) in order to not become a resident. If you spend an extra day (184 days and onwards), you will be regarded as a resident, hence paying resident taxes in the country.

Economic means may be accredited by presenting cash, traveller's cheques, a credit card accompanied by a bank account statement, an up-to-date bank book, or any other resource that accredits the amount available, such as a credit statement regarding the card or bank account.

A regular monthly income of at least €600 OR a lump sum/savings of at least €7000 in a Spanish bank account. All financial proof needs to be in Spanish and stamped by the issuing Spanish bank. In some instances, authorities require at least 3 months of bank statements.

We serve customers from over 40 countries, including Spanish nationals at home and abroad, plus expats from the USA, the UK, the rest of Europe and beyond. Check your eligibility and apply for an Expat Bank Account today to enjoy global, round the clock support, wherever you may go.

It's 100% legal for US citizens to have foreign bank accounts. You just need to tell the IRS and report it properly. In fact, we've found hundreds of banks still willing to accept US clients.

Countries such as Mauritania, Singapore, and Mauritius allow foreigners to open Bank accounts. For example, tourists or foreigners in Mauritius, an island country in East Africa popular for its beaches and lagoons, can open current accounts. They, however, need...

Can I open a bank account with only a foreign passport? ›

Frequently asked questions. Can a foreigner open a bank account in the U.S.? Yes, a foreigner can open a bank account in the U.S., it just takes some additional paperwork to make it happen. If you have a foreign government ID, passport or resident alien number from a green card, those will help.

Credit cards from major card companies like VISA, Mastercard, and American Express are generally always accepted in Spain. However, it's important to remember that acceptance may vary depending on the individual business, so checking in advance is a good idea.

European travelers should always have some cash on hand; getting it from an ATM abroad is usually the easiest, most advantageous way. If you need cash from an ATM, it's usually better to use a debit card, because credit cards often charge a high interest rate for a cash advance.

In Spain, you'll find that most ATMs ("cajero automático" in Spanish, "caixer" in Catalan) have a withdrawing fee for international cards like Visa/Mastercard. ATMs are legally required to indicate the exact fee and ask for confirmation.

You can send up to $50,000 to Spain online direct to a bank account when you pay using your own bank account.

You can bring up to €10,000 - or the equivalent in another currency - into Spain, without needing to take any specific action. Carry in excess of that, and you have to complete a declaration when you arrive - more on that later.

You must declare at customs any money, negotiable instruments or securities worth more than €10,000 (or the equivalent value in a foreign currency) per person (you must complete a Statement of payment methods S-1 to be submitted to the customs service).

Should I use cash or a card to pay for things in Spain? Although many places accept over-the-counter card payments, it is always advisable to have some cash with you in Spain. Expect to use it to pay for smaller purchases of up to €20 at many shops and restaurants.

With Banco Santander you have more than 7,000 ATMs throughout Spain where you can withdraw cash without commission with your debit card and carry out many operations without queueing.

How do I open a European bank account for a non resident? ›

You'll need a local proof of address, plus a valid residence permit to show legal status. However, you can choose to open an online account with a specialist service instead, which can be much cheaper, easier and more convenient. Can I open a European bank account online?

HSBC Holdings PLC narrowly retained its title as Europe's largest bank by assets, S&P Global Market Intelligence data shows. The UK-headquartered, Asia-focused bank had €2.681 trillion of assets at the end of 2022, just surpassing French lender BNP Paribas SA's total of €2.666 trillion.

Switzerland is a notorious worldwide standard for financial safe-havens. Switzerland and banking are almost synonymous with anyone around the world. This highly developed, multilingual European country has become the global standard for financial stability throughout several generations.

Yes, a foreign non-resident in Spain can open a bank account.

Some of the U.S. banks that offer foreign currency accounts at press time include Citi, HSBC, and TIAA Bank. For businesses, Wells Fargo and PNC offer foreign currency accounts. You can contact your current bank to find out if multicurrency accounts are available.

The best bank in Europe is KfW in Germany, which was voted number one in the list of the 50 safest banks in Europe 2023. KfW's rank as the most secure bank goes beyond Europe, too–being ranked number one for twelve years in a row for the World's Safest Banks by the US finance magazine Global Finance.

A federal banking regulation set forth by the Federal Deposit Insurance Corporation (FDIC) requires banks to obtain identification and a physical address for all customers who want to open a bank account to help prevent money-related crimes like identity theft, embezzlement, and money laundering.

Foreigners may open a bank account in Portugal, either as a resident or a non-resident. Non-resident accounts require more documentation and can have more restrictions than a resident account, but this is an option if you don't have an address in Portugal yet.

Are there banks that don't require Social Security Numbers? Several banks don't require SSNs to open a bank account. Some of these include Chase, Wells Fargo, and Bank of America. These banks will, in most cases, require an ITIN to open an account instead.

A regular monthly income of at least €600 OR a lump sum/savings of at least €7000 in a Spanish bank account. All financial proof needs to be in Spanish and stamped by the issuing Spanish bank.

Which countries are easiest for foreigners to open a bank account? ›

Whether you are a US passport holder or a non-US citizen with a foreign passport, you can open a bank account with your passport as your proof of identification.

The 90-day rule

This rule simply states that you can live in Spain without residency for a maximum of 90 days. After those 3 months, you need to either obtain a residence permit, or leave the country. And that is because the shortest stay option is the tourist (or Schengen) visa, which lasts exactly for 90 days.

Economic means may be accredited by presenting cash, traveller's cheques, a credit card accompanied by a bank account statement, an up-to-date bank book, or any other resource that accredits the amount available, such as a credit statement regarding the card or bank account.

You can apply at the nearest national police station in your province that has a foreigner's department and which offers the relevant service or at one of the immigration offices. You may also apply at your nearest Spanish consulate in your home country if not in Spain.

Residing in Spain​​

Residency in Spain may be on a temporary or a permanent basis. Temporary residency is the situation that authorises a stay in Spain for a period of more than 90 days and less than five years.

Am I eligible to open a bank account in Europe? As a rule, anyone 18 or over with a valid passport or other form of national ID is eligible to open a European bank account. Residents of a certain country can usually apply with just their passport and proof of address.

If you're a US citizen living abroad you can open a bank account in the US. To do so, you must apply to banks that accept US citizens abroad. But also, maintain the US-specific ties that the bank requires and pass the bank's standard identity verification and compliance procedures.

Bottom line: Yes, you can keep your bank account if you move abroad.

Can a foreigner open a Wells Fargo account? ›

Wells Fargo offers checking accounts to foreigners who hold the documents required for verification. If you're not a US resident or citizen you can also choose to use the Wells Fargo international investment services which are available online, in branch and by phone.