Opening a Bank Account in Spain as an Immigrant

As an immigrant, you will have to collect many documents to move to Spain. Opening a bank account and receiving a bank card is one of the most essential requirements, though. Services such as https://www.migrun.tech/spain/services-in-spain/virtual-assistance-for-spain can help you answer many questions about foreigners arranging a bank account and guide you through the process.

Below, we will explore why you should have a local bank card, what documents you need to get one, and which fees you’ll pay once you issue it.

Why Opening a Local Bank Account is Crucial

Travelers can easily arrive in Spain and use their foreign credit cards. Immigrants, however, have to navigate all procedures differently. If you are planning to move or stay for a couple of years, even the basic processes require a Spanish bank account, including:

  • arranging your residence permit;
  • paying for a property;
  • receiving pensions;
  • paying rent;
  • paying for a gym membership;
  • paying bills;
  • paying for health insurance.

With a Spanish bank account, you will be able to resume all activities once you arrive and receive a salary when you start working.

Bank Accounts for Residents

Acquiring a bank account as a resident is not hard. If you stay in Spain for more than 183 days a year, your bank account will allow you to receive a lot more perks such as lower fees. You also won’t need to submit as many documents. All you need is a valid passport or a national ID card, a NIE, employment/unemployment paperwork, and a rental contract or other proof of Spanish residence.

Bank Accounts for Non-Residents

In case you are still not sure if you want to immigrate to Spain or have just moved there, you can open a non-resident bank account. The process is more complicated, but services like Migrun can assist you. As for documentation, you will need a non-resident certificate from the local police, a valid passport or national ID card, proof of address in Spain, employment status, and a lease agreement.

Some banks will request additional documents depending on your country of residence, employment, and perks you want at the bank. Keep in mind that not all banks accept non-residents. Also, all foreign documents have to be translated and apostilled.

Spanish Bank Account Fees

Once you have a Spanish bank account, don’t forget that you will be paying fees for various services. Some of these fees can be higher than abroad, so always ask and double-check for possible charges and increases when you sign the contract. In general, you will pay up to €50 per year for bank account maintenance, €3 per transfer, and €15 per year for debit card maintenance.

Local Bank Account – Check!

Opening a Spanish bank account is one of the essential procedures immigrants have to complete when they arrive from abroad. While it can take some time to gather your documents, having a Spanish debit card will allow you to rent apartments, buy real estate, pay for local services, and so much more.

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