For those who stay in Spain, it is potential to open a checking account overseas so as to maintain completely different currencies or entry higher financial savings charges.
Whereas it’s necessary that you’ve a Spanish checking account in the event you’re dwelling in Spain so as to pay payments and taxes, more and more individuals listed here are selecting to have a international checking account too.
There might be a number of causes you wish to open a international checking account in the event you stay in Spain, together with diversifying your belongings, benefiting from higher rates of interest or getting paid in different currencies.
For instance, discovering high-yield financial savings accounts inside Spain is troublesome. Within the UK or US for instance you could find many 5 and even 6 p.c yield charges, however in Spain nearly all financial savings accounts go as much as simply 2.5-3 p.c.
Subsequently, it’s possible you’ll wish to open one overseas so to get extra curiosity in your financial savings and make your cash work higher for you.
It could be necessary so that you can diversify your belongings too, for instance it’s possible you’ll not wish to solely have your cash in Euros. A few of these accounts beneath will let you maintain different currencies akin to British Kilos or American {Dollars} as nicely, so that you just’re not simply counting on the power of 1 foreign money.
If you’re a distant employee in Spain or self-employed and dealing with purchasers overseas, it’s possible you’ll typically receives a commission in different currencies too. Conventional Spanish banks cost an enormous fee to obtain cash in different currencies which implies it’s often not value your whereas and also you’ll find yourself dropping some huge cash every month, however many international financial institution accounts will settle for different currencies at no cost or for a a lot smaller price.
REVEALED: Spain’s best high-yield savings accounts in 2025
Commercial
Revolut
Revolut’s financial savings account is among the hottest on-line accounts you may open from Spain. Its headquarters are within the UK, however in addition they have EU headquarters in Lithuania and France. Opening the account is straightforward on-line and is instantaneous. There’s no minimal quantity, curiosity is calculated every day, and safety is supplied by the Lithuanian fund. It’s supreme for many who wish to handle their financial savings on-line and likewise lets you maintain a number of completely different currencies. This additionally makes it an excellent possibility for travelling.
N26
The headquarters of the net N26 financial institution are in Germany and it’s potential to open one as a resident right here in Spain. It’s an excellent possibility for these searching for a web-based possibility and need better flexibility, though the very best profitability requires a reference to Bizum. It may possibly immediately allocate cash to financial savings accounts and provide you with insights in your spending habits.
Raisin
Raisin Financial institution’s Welcome Account is solely for brand spanking new prospects and may be opened on-line in minutes freed from cost. It’s backed by the German assure fund as much as €100,000. Basically it’s a financial savings platform that provides unique entry to financial savings merchandise from greater than 30 banks in Europe, permitting you to entry a lot increased rates of interest.
LISTED: The Spanish bank accounts you can open with just a NIE number
Commercial
Bunq
Bunq is a checking account from the Netherlands, which is nice for holding a number of currencies in addition to auto-saving options. It’s particularly helpful for frequent travellers. There’s no minimal deposit and you can begin saving immediately. It may be opened in simply 5 minutes along with your telephone and ID card.
Commerce Republic
Commerce Republic relies in Germany and is one in every of Europe’s largest financial savings platforms. It lets you open an account with a Spanish IBAN and Bizum, eliminating the effort of worldwide taxation, as tax withholding is computerized and the account is commission-free. You possibly can earn 2 p.c curiosity in your money stability as much as €50,000.
Swedish banks – Nordax Financial institution, Collector Financial institution and Resurs Financial institution
There are a number of Swedish financial institution accounts which you’ll be able to open from Spain, together with these from Nordax, Collector and Resurs banks. All of them may be contracted by way of Raisin, which lets you diversify your financial savings with out additional charges. Additionally they all supply safety of as much as €85,000 and don’t apply tax withholding for non-residents.
