Opening an Account

Both residents and non-residents can open a bank account in Spain. You need to be over 18 and provide proof of identity such as a passport. If you’re a resident you’ll need to provide your residence card details. If you own property in Spain, the bank will probably also require your NIE (número de identificación de extranjeros), which all foreign property owners must have. You can open the account in person or by postal application, although this is probably only advisable as a last resort.
Type of Accounts
Most people open a current account or a savings account with their bank. A current account in Spain is much the same as that in any country and you’ll be issued with a cheque book and ATM/ debit card. Note that cheques are generally not accepted as a form of payment in shops and businesses. Debit and credit cards are. You receive monthly statements regarding your account. Some banks pay nominal rates of interest on current accounts, although by the time with-holding tax at 25% has been deducted, you sometimes wonder why they bother.
Saving Accounts
Saving accounts are generally different from current accounts in that they offer interest, although interest rates paid at present are very low (marginally higher than current account rates). With savings accounts you are issued with a cash book where all transactions are recorded. In some banks, you can use the cash book to withdraw money from cash machines. Savings accounts sometimes include the option of a debit card, but you can’t have a cheque book.