Opening a bank account is advisable when you are planning to stay in Spain for a long period of time, but when it comes to relocating to Spain then it is imperative. Opening a bank account can be done having a resident or non-resident status.
You must be the main holder of a Spanish bank account to be able to rent a house, because most house utilities are directly debited from a national bank account. Also, you will need a Spanish bank account if you wish to make a mobile services contract. If you are working in Spain, a Spanish bank number is required as well, this because most companies only transfer the pay checks to a Spanish account. It’s important to mention that most Spanish banks charge fees for their services and it all depends on bank, your age and other factors.
There are two main types of banks in Spain:
• General retail and commercial banks (bancos), including registered foreign banks
• Savings banks (cajas de ahorros)
The main banking services offered by either types of entities mentioned above are roughly the same. One of the main differences is that cajas de ahorros are traditionally confined to specific regions or provinces, although the major ones also have several branches spread throughout the country.
Spain has one of the highest ratios of bank branches per capita in Europe but not all of these can offer their services in English. However, most banking systems such as online banking are multilingual.
BarnaRelocation can advise you which bank is the best option according to your needs and can assist you in completing all necessary administrative paperwork. We can provide you with information about what documents are needed, how to obtain credit and debit cards, payments methods, cheques and more.
Please remember that BarnaRelocation will also help you to obtain Social Security number in Barcelona.
As part of our services, we also can advise you about the different taxes in Spain and information about pension, wills and other financial matters.
BarnaRelocation will make it simple!