Spain Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  How to open a Spanish bank account

  Requirements and fees

  If you plan on staying in Spain for longer than six months, you will probably need a bank account. For foreigners in Spain, there are two types of bank accounts: resident and non-resident accounts.

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  Spanish banks

  Where to manage your finances

  Spain has about 30 banks with a national presence and numerous regional ones. Commissions and services vary greatly among the banks, so compare several and make a decision based on your needs.

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  Banking services

  Transfers, payments, cash machines and opening hours

  The most common type of account is a non-interest bearing current or checking account (cuenta corriente). The other alternative is a savings account (cuenta de ahorro).

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  Currency exchange

  A beginner’s guide to moving money abroad

  If you have spent any time travelling in the past you might have already come to the conclusion that there is no way to win the currency exchange game. Every time you need to change money your currency has fallen and if you’re bringing money back, it works the other way. In the middle, you get slammed for exchange rates that make you think someone, somewhere is making a lot of money.

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  International currency exchange

  Glossary of financial jargon

  This handy reference to the terms used for currency exchange transactions. The world of finance can be quite complicated, so use the below as a guide to some of the terms you may bump into when organizing currency exchanges or transfers.

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