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Opening a Bank Account

Opening a bank account in Spain is an important step for buying property here. You will need a bank account to pay the final purchase payment and on going bills etc, it is a step of the purchase process.

Spanish Pesetas, bank of Spain

How to Open a Bank Account in Spain


If you are planning to buy a property in Spain, or planning to live for six months or longer in Spain you will need to open an account with a Spanich bank.

It's a fairly simple process but to do it you will need the following documents to open you bank account in Spain:


Fees & services

It's worth shopping around before deciding which Spanish bank to open an account with in Spain.  Most will offfer an account with no fees, usually with conditions such as a minimum monthly deposit and  minimum number of direct debits paid from the account.  Others will charge for the account, usually on a quarterly basis, and for any debit cards associated with the acocunt.

All banks charge for the service of issuing a bank guaranteed cheque which you will need if you are buying a property in Spain.  The bank guaranteed cheque is the only method of payment a notary will allow when presiding over a property transaction.  Each banks fee for this varies, this is something you should ask about when shopping around as the fee is normally a precentage of the value and can therefore be quite a lot.

Other factors to take into consideration are the location of the branch (lots of actions can only be performed by going into the branch itself) and the ability of the staff to speak your language.  Fortunatley, as there is a large expat community here, the banks in Javea usuallly have two or three members of staff who speak English.

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