Just arrived in Spain, or considering a switch to a more convenient bank? I recently looked into several major mobile banks here and found their account opening processes to be much simpler than traditional banks, and many are very friendly to foreigners. I’m sharing my findings to help anyone in need.
The Key Question Before You Start: What’s Your Residency Status?
First, you need to clarify your residency status, as the requirements and available banks can differ. There are generally two categories:
- Spanish Resident: You hold a valid Spanish residence card (TIE) and have an NIE number. This is the most straightforward situation, and nearly all mobile banks will welcome you.
- Non-Resident: For example, you have a long-stay visa but haven’t received your TIE yet, or you’re just here for a short-term trip or visit. Your options are more limited in this case, but not impossible.
A Comparison of Major Mobile Bank Application Requirements
I focused on a few popular options, like Germany’s N26 and Lithuania’s Revolut, both of which have a large user base in Spain. Here’s a comparison table for a clear overview.
| Bank | Residency Requirement | Key Documents | Account Features |
|---|
| N26 | Must be an EU/EEA resident with a Spanish address | Passport, TIE, mobile number | German IBAN, deposits protected by German banking scheme, powerful free account features |
| Revolut | Residents and non-residents accepted; requires proof of a Spanish address for [opening a Spanish bank account] | Passport, visa or residence card, mobile number | Lithuanian IBAN, excellent currency exchange features, great app experience, ideal for multi-currency users |
| Bnext | Spanish residents only | TIE or Spanish DNI, Spanish mobile number | Spanish IBAN, many cashback offers, more localized |
Key Points: Application Materials and Process
Regardless of which bank you choose, the process is quite similar and can be completed entirely on their mobile app, usually within 10-15 minutes.
- Proof of Identity: This is the most crucial part. You’ll typically be asked to hold up your passport or TIE for a video verification or photo upload. Make sure your document is valid and the photo is clear with no glare.
- Proof of Address: Even though they are mobile banks, they need a physical address to mail your debit card. For stricter banks like N26, you’ll need to prove you reside at that address. Revolut is more flexible; sometimes, providing an address where you can receive mail is sufficient, and it doesn’t necessarily have to be a formal proof of residence in your name.
- Tax ID Number: This is your NIE number. Almost all banks will ask for it during registration. If you only have the white paper NIE certificate, you can still try applying for Revolut.
- Video Verification: This is a critical step. A customer service agent will have a short video call with you through the app. They will ask you to show your ID, turn your head, and answer a few simple questions to confirm your identity.
If you have a TIE, opening a bank account in Spain with these mobile banks is virtually guaranteed. If you are still in the ‘white paper’ stage (with only the temporary NIE assignment sheet), Revolut is your best bet. While traditional banks are an option, their processes can be cumbersome, and they often come with various miscellaneous fees management charges. For those of us seeking efficiency and low costs, mobile banks are definitely the superior choice, and some are excellent Spanish online banks. If you have experience applying with other banks, feel free to share and discuss below!
