I’ve been preparing my residency application recently and got stuck on the requirement for a Spanish bank account. Since I’m in the UK and can’t travel to Spain at the moment, I did some research on how to open an account remotely. I found quite a few pitfalls, but also a couple of reliable options. I’m sharing my experience here, along with some info on Spanish bank codes, to help out others in the same boat.
Options for Remote Account Opening
From what I can tell, for those of us in the UK looking to open a personal Spanish account, there are basically two main choices: one is a modern digital bank, like N26, and the other is a traditional bank, like Sabadell, which offers a dedicated non-resident account service. Other banks either require you to be there in person or have incredibly complex procedures, making them unrealistic for the average person.
Digital Banks vs. Traditional Banks
I focused my research on N26 and Sabadell, as they each have their pros and cons, suiting different needs. To put it simply, N26’s main advantages are its convenience, speed, and almost zero cost, but its features are relatively basic. Sabadell, as an established bank, offers more comprehensive services, but the application process takes longer, and it comes with account management fees. I’ve put the key information into a table for an easy side-by-side comparison:
| Feature | N26 Bank | Sabadell Bank |
|---|
| Application Location | In the UK via app | In the UK via online application or email |
| Required Documents | UK passport or passport with a BRP | Passport, proof of address, proof of income, etc. |
| Opening Speed | Very fast, can be done the same day if all goes well | Relatively slow, takes a few weeks |
| Account Fees | Standard account is free | Approx. 40 EUR per quarter management fee |
| Documents Provided | Only provides electronic statements | Provides official bank certificates |
| Key Advantages | Convenient, free, great app experience | Comprehensive services, can issue official documents for visa/residency applications |
If you just need an IBAN for receiving payments or for temporary use, N26 is perfectly sufficient. It doesn’t cost a penny and the experience is excellent. However, if you’re like me and need it for an NIE application or long-term residency, requiring an official bank certificate to submit to government authorities, then your best bet is to go with Sabadell. Although you have to pay a management fee, and it’s worth keeping an eye on developments like BBVA’s acquisition of Sabadell, the official certificate they provide is something digital banks typically don’t offer. This document, which is different from services related to Spanish bank loans, can save you a lot of trouble down the line. This was the ultimate reason I chose the Sabadell route. It cost a bit more, but it gave me peace of mind.
I hope my experience can help you all! If you have experience opening an account remotely with other banks, feel free to share and discuss below. Let’s help each other out.
