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Which bank is best for foreigners

Compared, many banks charge special fees when you make purchases abroad, and even if you buy something online from a retailer based outside the U.S.
This may influence which products we review and reveal (and where those products appear on the webpage), but it in no way affects our recommendations or advice, which are grounded in hundreds of hours of research.
Our partners cannot pay us to guarantee favorable reviews of these products or services.

Each bank will ask you apply with specific documents and in many cases you can apply online or partially online.
Check out our chapter on “How to Open a BANK-ACCOUNT as a Non-Resident” for more details.
You can open a bank account in Spain as a non-resident with several banks in Spain.
The difference lies in the mandatory documents and the procedure to open it is easier with some banks, like Banco Sabadell than others.
For details please read chapter “How to Open a Bank Account in Spain as a Non-Resident“ of our best banks in Spain guide.
Overall, you can see by our comparison that in many cases it really is much cheaper to simply use a Spanish bank account throughout your amount of time in Spain.

Forms Of Bank Accounts In Spain

Among the best local banks in Portugal are Caixa Geral de Depositos, Millennium BCP, Novobanco, and Banco Santander Totta.
The most famous of them are Deutsche Bank, BNP Paribas and Citibank.
Banco Santander Totta  is in the top-5 largest banks in Portugal and operates in Portugal, Spain, the UK along with other countries.
In 2022 it received the Euromoney Award for Excellence and was recognized as the best bank in Western Europe.
It was also known as the best bank in Portugal in 2022 by the Global Finance magazine.
Novobanco is a private bank that has more than 350 branches across the country.

  • The truth is, you may open a bank account in Spain online, however, you are advised to wait and soon you actually get to Spain to open it in the lender branch in person.
  • We walk through certain requirements to open an account and provide in-depth information on each service to be able to make the best choice for your financial freedom.
  • In addition, to generate a transfer, it is sufficient to point the name of the recipient, his account number, his bank code and the BIC/SWIFT code.
  • According to
  • Rakuten also offers a variety of credit cards that may be used to earn cashback and points to invest online or in the Rakuten marketplace site.

Even the very best bank is Spain will likely charge you some sort of fee to uyse something.
By being informed, you should understand what to expect and also spend your cash as you feel fit.
If you want to, you can even gain some insight on how to avoid fes as you make withdrawals at an ATM and while making normal transactions.
The lender also removed the avaialbnle languages that it served to only reflect spanish.


If you do not have to make an application for a NIE/TIE – perhaps as you are staying significantly less than six months – then simply ensure that you cancel your bank account before leaving Spain at the end of one’s stay.
Launched in the spring of 2018, the HSBC

  • Offshore accounts can be found outside the holder’s country of residence and usually offer distinct advantages for instance a wider range of cross-border services and lower taxation on funds.
  • Tourists who have been

ING partner with other banks so their customers have access to other cash machines.
It’s absolve to withdraw money from cash machines owned by these other banks.
The answer to the question depends on your expectations and preferences.
We created this guide to banking in Spain with the goal of helping you chose the best bank in Spain that suits you.

Moreover, since it is possible to verify the amount to be received by the end of the transfer in advance, you can easily compare the service with the payment system and assess how practical and cost effective it is.
In addition, to generate a transfer, it really is sufficient to indicate the name of the recipient, his account number, his bank code and the BIC/SWIFT code.
For those who arrived at Vietnam without having a solution to transfer money, Wise (ex Transferwise) may be the easiest way in order to avoid paying exorbitant fees.