How to open a Spanish bank account as an American expat

Opening a Spanish bank account looks simple from the US and turns into a week of paperwork in Alicante. The good news: the rules are predictable once you know them — and the FATCA paperwork is no longer a surprise to Spanish banks.

There are two account types. A non-resident account (cuenta no residente) is what you open before you have a NIE — useful for buying property or paying a deposit. A resident account (cuenta residente) is what you open once you have your NIE and padrón. Fees and conditions differ between the two.

Documents you'll need as a US citizen: passport, NIE certificate (for resident accounts), padrón certificate, proof of address in Spain, proof of US income or employment, a Spanish phone number, and a signed IRS form W-9. Spanish banks must report US-citizen accounts to the IRS under FATCA — this is normal and not a reason for refusal.

Some Spanish branches are more US-friendly than others. Sabadell (with its 'Expat Account' product), BBVA and CaixaBank routinely onboard Americans. Smaller cajas sometimes refuse on FATCA grounds. Digital banks like N26, Wise and Bunq can also work, but won't always be accepted for Spanish utility direct debits or mortgages.

The mistake most US movers make is trying to open the account on day one of arrival. The clean order is: NIE → padrón → bank account → utility contracts → long-term rental.

We coordinate the bank introduction as part of Settle in Alicante so you walk into the right branch with the right documents and the right contact.