Opening a bank account in Spain as a remote worker involves several steps and requirements, depending on your residency status. Here’s a comprehensive guide to assist you in the process:
For Both EU and Non-EU Citizens:
Required Documents:
- A valid passport or national ID card.
- Proof of address, like a utility bill or bank statement.
- Proof of your employment status or income, such as a payslip or tax return.
- For non-residents: a non-resident certificate, obtainable from a police station or Spanish consulate.
- Lease agreement or property title deed, if applicable.
- All foreign documents must be translated into Spanish and properly notarized.
Online Account Opening:
- Many banks allow the account opening process to be completed online.
- Traditional banks like BBVA or Santander usually require at least one in-person visit to finalize the process.
- Online banks operating in Spain, like Openbank, N-26, and Revolut, enable the entire process to be completed online via smartphones.
Processing Time:
- The account opening process is relatively quick, typically taking 1 to 5 days for activation.
- Delays may occur due to document preparation, especially when obtaining a non-resident certificate or apostilling foreign documents.
Banking Fees:
- Be aware of various fees associated with opening and maintaining a bank account in Spain. These can include maintenance fees (around 50€ per year), transfer fees (2-3€ per transfer), and debit card holding fees (typically around 15€ per year).
- It’s important to ask about potential future fee increases when signing contracts, as these changes often occur without prior notice.
Choosing a Bank:
- Spain offers a wide range of banking options to suit different needs.
- Options include traditional banks like Banc Sabadell, BBVA, Santander, and La Caixa, as well as online banking alternatives and international banks like ING, HSBC, Deutsche Bank, and Barclays.
Additional Considerations for Non-EU Citizens:
- The process might be more complex with additional requirements like the non-resident certificate.
- Non-resident accounts typically face higher fees and less flexibility compared to resident accounts.
Translating and Legalizing Documents:
- Remember that all documents will need to be translated into Spanish and authenticated with an Apostille stamp, using an official translator known as a ‘traductor jurado’.
In summary, the process of opening a bank account in Spain as a remote worker requires careful preparation of documents, choosing the right type of bank account, and understanding the banking fees involved. It’s advisable to start the process as soon as possible to avoid any delays in your plans.
