The Spanish bank accounts with no extra charges in 2024
Banking in Spain is often frustrating for foreigners who are shocked by the unexpected extra fees they get charged for. Luckily, some Spanish bank accounts don't use these hidden tactics to squeeze extra money out of their customers.
Unlike financial institutions in the UK, many banks in Spain charge you for simply 'maintaining' your bank account open, as well as extra fees if you withdraw money from ATMS at other banks, to use your bank cards or other services which one would expect to be completely free.
This means that it’s definitely worth shopping around to find a bank account in Spain without extra fees so you're not left wondering exactly why you’re paying out so much.
It’s worth keeping in mind that most of the bank accounts that don’t charge extra fees in Spain are online-only accounts.
This means that you’ll do most of your banking through a website or app, rather than having a dedicated personal account manager or cashier in your branch.
If you’re looking in Spanish, it’s important to look for the words ‘sin comisiones’ meaning without extra charges, so you know you won’t be paying extra.
Sabadell
Sabadell's online account not only doesn't charge you added costs, but also doesn't force you to transfer your salary over to them. New customers can recover 3 percent of their electricity and gas bills and also receive free debit and credit cards. There's also a special offer on APR rates if you sign up before January 29th.
ING
ING offers its so-called Cuenta NoCuenta account, a specialised account ‘without conditions and without paper’ meaning again it’s mostly online. It’s ideal for those who don’t work or who have low earnings as you don’t have to have a salary paid into it either. It also offers free cash withdrawals at thousands of locations and allows you to get your money back if you make an online purchase and it doesn’t arrive.
Santander
Santander’s online account has not only zero extra charges but zero conditions too, meaning it’s ideal for flexibility. It’s exclusively for new clients and includes a free debit card and free withdrawals at 30,000 ATMs worldwide. If you use it for your salary or your pension, you’ll also get €400 gross gifted to you.
BBVA
BBVA offers another account that’s 100 percent online and offers no extra fees or conditions for new clients. You also get a free debit card and free withdrawals at BBVA ATMs.
ABANCA
The Cuenta Clara Abanca is also an online account for new customers only which offers free debit and credit cards and same-day transfers. If you get your salary paid into it, it also gives you €300, plus profitability of 2 percent APR up to €15,000.
EVO
EVO’s Cuenta Inteligente Bienvenida gives new customers a free debit and credit Smart Card, plus free withdrawals worldwide. You can also open a deposit account at 2.85 percent APR for one year up to €30,000.
Openbank
An online account from Openbank with no extra charges or conditions. If you have the account for six months and you transfer your payroll there, you can earn 3.07 percent APR. You can also have up to five account holders. Up until Jan 31st, you can also get €120 when you transfer your salary to the account, pension or unemployment benefit of at least €900 (the discount code is 120NOM).
N26
N26 is actually a German online bank, but it operates in several EU countries, including Spain. It can set you up with a Spanish IBAN and doesn’t charge extra fees . It’s great for those who travel around Europe often, allowing you to withdraw money for free 3 times a month at any ATM in the Eurozone. There’s also no added cost for paying with your card in another currency. The savings account gives you 2.26 percent APR.
Revolut
Revolut is similar to N26 in that it’s just an online bank. Its headquarters are in the UK, but you can open up an account in many different countries, including Spain. It’s great if you travel frequently and will give you a free-of-charge account with a Spanish IBAN number. It enables you to withdraw up to €200/month worldwide for free and pay in other currencies with a better exchange rate than other banks.
Imagin
Imagin is owned by Caixa Bank and has no maintenance fees, plus free withdrawals at CaixaBank ATMs. You also get a free debit card and up €150 if you transfer your salary over.
TargoBank
German bank TargoBank offers new customers a three-in-one account: A payment account, a savings account and a debit card, all without extra charges, allowing for free cash withdrawals at ATMs and free national transfers. You can also get up to €300 for transferring your salary to the account and an APR of 2.53 percent for savings. Everything is done completely online.
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Unlike financial institutions in the UK, many banks in Spain charge you for simply 'maintaining' your bank account open, as well as extra fees if you withdraw money from ATMS at other banks, to use your bank cards or other services which one would expect to be completely free.
This means that it’s definitely worth shopping around to find a bank account in Spain without extra fees so you're not left wondering exactly why you’re paying out so much.
It’s worth keeping in mind that most of the bank accounts that don’t charge extra fees in Spain are online-only accounts.
This means that you’ll do most of your banking through a website or app, rather than having a dedicated personal account manager or cashier in your branch.
If you’re looking in Spanish, it’s important to look for the words ‘sin comisiones’ meaning without extra charges, so you know you won’t be paying extra.
Sabadell
Sabadell's online account not only doesn't charge you added costs, but also doesn't force you to transfer your salary over to them. New customers can recover 3 percent of their electricity and gas bills and also receive free debit and credit cards. There's also a special offer on APR rates if you sign up before January 29th.
ING
ING offers its so-called Cuenta NoCuenta account, a specialised account ‘without conditions and without paper’ meaning again it’s mostly online. It’s ideal for those who don’t work or who have low earnings as you don’t have to have a salary paid into it either. It also offers free cash withdrawals at thousands of locations and allows you to get your money back if you make an online purchase and it doesn’t arrive.
Santander
Santander’s online account has not only zero extra charges but zero conditions too, meaning it’s ideal for flexibility. It’s exclusively for new clients and includes a free debit card and free withdrawals at 30,000 ATMs worldwide. If you use it for your salary or your pension, you’ll also get €400 gross gifted to you.
BBVA
BBVA offers another account that’s 100 percent online and offers no extra fees or conditions for new clients. You also get a free debit card and free withdrawals at BBVA ATMs.
ABANCA
The Cuenta Clara Abanca is also an online account for new customers only which offers free debit and credit cards and same-day transfers. If you get your salary paid into it, it also gives you €300, plus profitability of 2 percent APR up to €15,000.
EVO
EVO’s Cuenta Inteligente Bienvenida gives new customers a free debit and credit Smart Card, plus free withdrawals worldwide. You can also open a deposit account at 2.85 percent APR for one year up to €30,000.
Openbank
An online account from Openbank with no extra charges or conditions. If you have the account for six months and you transfer your payroll there, you can earn 3.07 percent APR. You can also have up to five account holders. Up until Jan 31st, you can also get €120 when you transfer your salary to the account, pension or unemployment benefit of at least €900 (the discount code is 120NOM).
N26
N26 is actually a German online bank, but it operates in several EU countries, including Spain. It can set you up with a Spanish IBAN and doesn’t charge extra fees . It’s great for those who travel around Europe often, allowing you to withdraw money for free 3 times a month at any ATM in the Eurozone. There’s also no added cost for paying with your card in another currency. The savings account gives you 2.26 percent APR.
Revolut
Revolut is similar to N26 in that it’s just an online bank. Its headquarters are in the UK, but you can open up an account in many different countries, including Spain. It’s great if you travel frequently and will give you a free-of-charge account with a Spanish IBAN number. It enables you to withdraw up to €200/month worldwide for free and pay in other currencies with a better exchange rate than other banks.
Imagin
Imagin is owned by Caixa Bank and has no maintenance fees, plus free withdrawals at CaixaBank ATMs. You also get a free debit card and up €150 if you transfer your salary over.
TargoBank
German bank TargoBank offers new customers a three-in-one account: A payment account, a savings account and a debit card, all without extra charges, allowing for free cash withdrawals at ATMs and free national transfers. You can also get up to €300 for transferring your salary to the account and an APR of 2.53 percent for savings. Everything is done completely online.
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