To open a bank account in Spain, an applicant must be at least 18 years of age, able to provide an address in Spain, proof of identity and a current passport or NIE number. Both non-residents and residents can open a bank account in Spain and to do this, you will need an application form from the bank.
Residents - to open a current account you will need to provide residence permit (residencia) or evidence of employment in Spain.
Cheque Accounts
All Spanish bank account numbers have 20 digits.
The most common account in Spain is a cheque or current account and is provided by all Spanish banks.
It should be noted that many retailers do not accept personal cheques which cannot be guaranteed in Spain although banks can issue certified cheques books. Many Spaniards prefer to pay by plastic or cash.
Writing Cheques - your account details such as bank, branch and account number are printed on the top right hand side of cheques and bank statements and this information is required when payments are to be made directly from the current account, ie direct debit payments.
Complete cheques as follows:
- Name of payee should be written in the top left corner.
- The amount in figures must be written in the top right hand corner - it is advisable to either put a line to fill in the space or add an (#) hash sign before and after the amount ie: #1.111,11#) to ensure the amount cannot be changed.
- The amount should also be written in words on the line below the payee’s name (as in the UK) ie: Dos mil euros con once centimes
- To date the cheque, it must be written in words directly under the amount written in words and after the town where the branch is situated.
- You must add your signature in the bottom right corner below the date
- It is advisable to write the date and amount of any cheque issued in Spanish however, some Spanish banks will accept other languages - check with your bank for their rules on this issue.
As in the UK, it is not advisable to make any cheque out â to bearer, however, If you do so you must add al portador. Any a cheque made payable to the bearer is regarded as currency and may change hands a number of times whilst valid.
If you pay a cheque into your own account, you, as the account holder must sign the reverse of the cheque.
When making a cheque out to a named person, write the following: Paguese [person's name] por este cheque”. To ensure that a cheque can be paid only into the account of the payee and you must also add Y Cia between the diagonal lines on the front or add a abonar en cuenta before the name of the payee.
Note: A bank is not required to reimburse an account holder for a falsified cheque if they have been negligent writing it.
Validity
Spanish cheques are valid indefinitely. It should be noted that it is illegal to overdraw a Spanish bank account without obtaining agreement with your branch. If a chequebook is lost or stolen, the bank must be notified by telephone immediately and the loss must be confirmed in writing. Any cheques written after the bank has been informed cease to be the account-holder’s responsibility.
If you issue a cheque without sufficient funds being available, you as the account holder are obliged to pay a penalty - it is advisable to check your bank’s rules but this penalty is usually 10 percent of the unpaid amount of the cheque (ie: if the shortfall is three hundred euros, the shortfall plus a penalty of 10% - ie thirty euros will have to be paid). Again, it is advisable to check with your bank on this issue.
As in the UK, take care when writing cheques and keep your bank details, card and cheque book in a safe place.
Direct Debits
To make arrangements for a new direct debit (domiciliación bancaria) simply complete a form at the branch and supply a copy of the bill. This is the best way to pay all your regular bills in Spain.
Correspondence
Correspondence from a bank will be in Spanish, however, a letter my daughter received from Caja Rural gave a translation at the right hand side of the letter with the Spanish version at the left hand side of the letter.
Translation of some words are shown below:
Fecha - date
Debe - debit
Haber - credit
Saldo - balance
Concepto - description
Estados/comunicaciones de movimientos - Account Statements
Cash Cards and Debit Cards
Spanish banks offer customers a combined cash and debit card (tarjeta de débito), and these are widely used (and accepted) throughout the whole of Spain.
The amount of any purchases or cash withdrawals will automatically be debited to your account. Although monthly statements are not sent out to customers, a balance or mini statement can be requested from an ATM/cash machine. It should be noted that it is not possible to overdraw using a cash card or debit card.
As in the UK, a lost or stolen card must reported to the bank as soon is as possible, your branch will normally supply you with the appropriate telephone number.
Example of banking hours
Bank opening hours change according to the season, however, many rural banks (sometimes) have much shorter opening hours.
Monday - Friday 8:30 - 16:00
Saturday 10:00 - 14:00
Monday - Friday 9:00 - 14:00