When I first arrived in Spain, I thought the banks here were impressive and the service was great, a far cry from the bank robberies you hear about. But over time, I realized how naive I was! Every month, seeing all sorts of comisiones (fees) pop up on my bank statement is just painful. It feels less like I’m saving money and more like I’m paying ‘protection money’ to the bank. Today, let’s rant about those unseen ‘robbers’ in Spanish banks.
Account Maintenance Fees: The Silent ‘Monthly Rent’
This is definitely the biggest hidden expense. In the past, many banks, like Sabadell which I first used, would waive the maintenance fee if you just deposited some money or linked your utility bills. Now, the policies have tightened and the requirements are much stricter. You either need a payroll account (nómina), or you have to buy their investment products or insurance. Otherwise, the fee of several tens of euros per quarter is non-negotiable. BBVA and Santander follow a similar script; it feels like they’re forcing you to consolidate all your financial activities with them, or else you’ll just get fleeced.
A Medley of Bizarre Charges
Besides the account maintenance fee, there’s a bunch of small, hard-to-avoid charges. For example, fees for withdrawing cash from another bank’s ATM, fees for using your card outside the Eurozone, and even charges for performing a transaction at the counter that you could have easily done on the app! It’s daylight robbery. A friend of mine who banks with CaixaBank told me they were once hit with a ‘low balance fee’ just because their account balance fell below a certain amount for a few consecutive days. It’s unheard of! Have you encountered any other bizarre fees? Feel free to share them below.
To give you a clearer picture, I’ve put together a comparison of common fees:
| Bank | Account Maintenance Fee | Annual Card Fee | Waiver Conditions |
|---|
| Santander | €10-€20/month | Approx. €30-€40/year | Link payroll, pension, purchase specific products, etc. |
| BBVA | Approx. €40/quarter | Approx. €35/year | Link payroll, meet credit card spending targets, etc. |
| CaixaBank | From €15/quarter | Approx. €36/year | Also requires meeting multiple conditions like linked services, spending, etc. |
| Openbank/ING | Usually €0 | Usually €0 | Online-only banks, conditions are relatively relaxed |
When dealing with Spanish banks, you really have to be extra vigilant. Before opening an account, make sure you read all the fine print in the contract and ask about all potential fees and waiver conditions. For regular users like us, online banks like Openbank and ING, which primarily offer fee-free services, might be a much better choice. Although they have fewer physical branches, they are perfectly adequate for daily use through their apps and ATMs. At least you won’t have to worry about being ‘robbed’ by your bank every day.
