Most Trusted Banks in Spain
Spain’s banking sector is one of the most developed and regulated in Europe, overseen by the Bank of Spain and the European Central Bank. Major banks like Santander, BBVA, and CaixaBank dominate the market and are known for their international presence, strong digital services, and financial stability. Following the 2008 financial crisis, the sector underwent significant restructuring, resulting in a more consolidated and resilient system. Today, Spanish banks are considered trustworthy, with high capital ratios and wide access to consumer and business banking services across the country.
The List of Top Banks in Spain
| Bank | Rating | APY | Bonus | Monthly Fee | Link |
|---|---|---|---|---|---|
| Banco Santander Largest Spanish Bank |
4.7/5 | Up to 1.5% | €100 welcome bonus | €0–€3 | Visit Santander |
| CaixaBank Best ATM Network |
4.6/5 | Up to 1.2% | N/A | €0–€2.5 | Visit CaixaBank |
| BBVA Best Online Services |
4.8/5 | Up to 1.5% | €50 bonus for payroll | €0–€2 | Visit BBVA |
| Banco Sabadell Great for Expats |
4.4/5 | Up to 1.3% | €75 promo bonus | €0–€2 | Visit Sabadell |
| Bankinter High-Interest Savings |
4.5/5 | Up to 5.0% | €340 savings promo | €0 | Visit Bankinter |
| Unicaja Banco Regional Strength |
4.2/5 | Up to 1.1% | N/A | €0–€1.5 | Visit Unicaja |
| Abanca Popular in Galicia |
4.3/5 | Up to 1.0% | €300 for direct deposit | €0–€1.5 | Visit Abanca |
| Kutxabank Strong Regional Option |
4.1/5 | Up to 0.9% | N/A | €0–€2 | Visit Kutxabank |
| ING España Best for No-Fee Accounts |
4.6/5 | Up to 1.0% | N/A | €0 | Visit ING |
| Openbank Best Digital-Only Option |
4.7/5 | Up to 2.3% | €40 welcome bonus | €0 | Visit Openbank |
Banco Santander
Banco Santander
- Largest retail branch network in Spain
- Comprehensive mobile banking
- Global presence and services
- Monthly fees apply without direct deposit
- Low deposit rates on savings
| APY | Up to 1.5% |
|---|---|
| Currency | EUR |
| Account Opening | Online & In-branch |
| Monthly Fee | €0–€3 (with conditions) |
| U.S. Citizens | Yes (some restrictions) |
| Non-EU | Allowed with documentation |
| Annual Interest | Paid annually |
CaixaBank
CaixaBank
- Extensive ATM and branch network
- Strong mobile app and security features
- Good rewards for debit card use
- Slightly lower interest rates
- Fees apply without certain conditions
| APY | Up to 1.2% |
|---|---|
| Currency | EUR |
| Account Opening | Online & In-branch |
| Monthly Fee | €0–€2.50 |
| U.S. Citizens | No |
| Non-EU | Possible with documentation |
| Annual Interest | Paid annually |
BBVA (Banco Bilbao Vizcaya Argentaria)
BBVA
- Feature-rich mobile/app experience
- Innovative fintech partnerships
- Competitive bonuses for payroll setup
- Fees apply without meeting criteria
- Low savings APY
| APY | Up to 1.5% |
|---|---|
| Currency | EUR |
| Account Opening | Online |
| Monthly Fee | €0–€2 |
| U.S. Citizens | Yes (with conditions) |
| Non-EU | Allowed |
| Annual Interest | Paid annually |
Banco Sabadell
Banco Sabadell
- User‑friendly accounts for expats
- English‑friendly services
- Decent interest rates with conditions
- Monthly fee unless salary is deposited
- Lower APY than some competitors
| APY | Up to 1.3% |
|---|---|
| Currency | EUR |
| Account Opening | Online & In‑branch |
| Monthly Fee | €0–€2 |
| U.S. Citizens | No |
| Non‑EU | Allowed |
| Annual Interest | Paid annually |
Bankinter
Bankinter
- High-yield savings promo
- No monthly maintenance fee
- Promo limited duration
| APY | Up to 5.0% |
|---|---|
| Currency | EUR |
| Account Opening | Online |
| Monthly Fee | €0 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid monthly |
Unicaja Banco
Unicaja Banco
- Strong presence in Andalusia
- Personal service at local branches
- Lower nationwide APY
- Limited digital banking tools
| APY | Up to 1.1% |
|---|---|
| Currency | EUR |
| Account Opening | In-branch |
| Monthly Fee | €0–€1.50 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid annually |
Abanca
Abanca
- Strong regional presence in Galicia
- Attractive welcome bonuses
- Fees unless you set up payroll
- Standard APY rates
| APY | Up to 1.0% |
|---|---|
| Currency | EUR |
| Account Opening | Online & In‑branch |
| Monthly Fee | €0–€1.50 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid annually |
Kutxabank
Kutxabank
- Strong Basque regional focus
- Personal in-branch service
- Fees if conditions aren’t met
- Weaker digital banking experience
| APY | Up to 0.9% |
|---|---|
| Currency | EUR |
| Account Opening | In-branch |
| Monthly Fee | €0–€2 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid annually |
ING España
ING España
- No maintenance fees
- Clean, intuitive digital banking
- Few physical branches
- Low savings interest
| APY | Up to 1.0% |
|---|---|
| Currency | EUR |
| Account Opening | Online only |
| Monthly Fee | €0 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid annually |
Openbank
Openbank
- Fully digital bank (Santander subsidiary)
- Competitive savings rates
- No maintenance fees
- No physical branches
- Requires tech competence
| APY | Up to 2.3% |
|---|---|
| Currency | EUR |
| Account Opening | Online only |
| Monthly Fee | €0 |
| U.S. Citizens | No |
| Non‑EU | Yes |
| Annual Interest | Paid monthly/annually |
Trusted Spanish Banks: Common Questions Answered
Yes, non-residents can open bank accounts in Spain. Many banks offer specific non-resident accounts. You usually need a valid passport, a NIE or non-resident certificate, and proof of address.
Popular banks among foreigners include Banco Sabadell, BBVA, CaixaBank, and Bankinter. They offer English support and accounts tailored for expats.
Yes, some banks like BBVA and Bankinter allow fully online account opening, especially for residents. Non-residents may require additional verification steps.
Usually yes, especially for resident accounts. Non-residents might need a non-resident certificate instead. Some banks assist with obtaining these documents.
Many banks charge monthly maintenance fees (€1-€6), but fees can often be waived by meeting certain conditions such as direct deposits or regular card use.
Yes, US citizens can open accounts but may face additional paperwork due to FATCA regulations. A passport, NIE, and proof of address are required.
Typically: valid ID or passport, NIE or non-resident certificate, proof of address, and sometimes proof of income or employment.
It varies—online accounts can be opened within minutes to days, while branch account openings may take a few days to a week for verification.
Usually, banks provide a debit card with the account. Credit cards are available but require separate application and credit checks.
Yes, some banks like BBVA and Banco Sabadell offer multi-currency accounts suited for international transactions.