I just moved to Spain not long ago and have been looking into bank accounts. The range of fees here is mind-boggling, and it’s easy to get fleeced if you’re not careful. It’s quite different from back home, where many basic services are free. So today, I’m starting this thread for venting about all the different fees at Spanish banks, and I’d love to hear if you guys have any money-saving tips.
The most common one has to be the account maintenance fee. Basically, if you don’t meet the bank’s specific conditions—like having your salary paid into the account, maintaining a minimum balance, or purchasing one of their investment products—you get charged a fee every quarter or month. It can range from ten-something to several dozen euros, which really adds up over a year! It’s like they say, a tyrannical government is fiercer than a tiger these fees are fiercer than a tiger.
Besides maintenance fees, there are all sorts of other strange charges. For example, you might get charged for inter-bank transfers, for using teller services at a branch, or even an issuance or annual fee for a physical contactless card. I’ve put together a simple table comparing the basic situation at a few major banks, based on a discussion about outrageous bank fees. The information might not be completely accurate, so feel free to add to it or make corrections.
Fee situation at some common banks
| Bank | Common conditions to waive maintenance fees | Notes |
|---|
| Santander | Link your salary/pension and meet certain spending or product bundling requirements | Conditions are quite complex; you need to read the contract carefully |
| BBVA | Online accounts are often free of maintenance fees for new users | Traditional accounts require linking a salary, etc., otherwise, the fees can be high |
| CaixaBank | Formerly Bankia; also requires linking your salary and meeting multiple additional conditions | Often criticized for having numerous fee-based items |
| ING | The Cuenta Nómina (Salary Account) usually waives major fees after linking your salary | Considered one of the more customer-friendly banks |
It feels like you really have to do your homework to find a completely free bank account in Spain. Many digital banks, like N26 and Revolut, offer free basic services. However, some people might worry about using one as their primary account, a common concern when dealing with Spanish bank fees, especially given the complexity of the current Spanish bank fees. Which bank do you all use as your main one? Any recommendations, or any experiences successfully getting fees waived to share? Looking for advice!
