Banks in Spain: A Clear Guide for Foreigners in 2026

Choosing a bank in Spain may seem simple, but foreign residents and international property buyers often discover that Spanish banks do not all operate in the same way.

The bank that is best for opening an everyday account may not be the most suitable lender for a mortgage. Some banks have a nationwide presence, while others are particularly strong in certain regions. Each institution also has its own requirements for accepting non-resident customers, assessing foreign income and financing property purchases.



This guide explains how banks in Spain work in 2026, which commercial banks are the best known, where they have the largest branch networks and what foreigners should consider before opening an account or applying for a mortgage.

How many banks are there in Spain?

There is no single figure that provides a simple answer to this question.

The official Banco de España registers include Spanish banks, foreign branches, credit cooperatives, specialist lenders, payment institutions and other regulated financial companies. Therefore, the number of registered financial institutions is much higher than the number of commercial banks normally used by individuals and property buyers.

For everyday banking, the Spanish market is concentrated around a smaller group of national and regional banks. Banco de España maintains an updated public register where consumers can check whether an institution is legally authorised to operate and which financial activities it is permitted to provide. The register was most recently updated on 30 July 2026.

In practice, foreign customers are most likely to encounter a limited number of well-established commercial banks, together with regional banks, cooperative institutions and digital providers.

The best-known commercial banks in Spain

The most recognised banks providing retail and commercial banking services in Spain include:

Banco Santander is one of the largest Spanish banking groups and has a broad national and international presence. In Spain, it provides current accounts, cards, savings, investments, insurance, business banking, personal loans and mortgages.

BBVA is another major national bank with a strong branch network and a highly developed digital platform. It offers personal and business banking, investments, insurance and residential mortgages.

CaixaBank has one of the most extensive physical networks in the country. It is highly visible in Catalonia, the Valencian Community, the Balearic Islands, Madrid, Andalusia and many areas with a large international population.

Banco Sabadell is particularly well known among foreign residents and international property buyers. It has a significant presence in Catalonia, Alicante, Valencia, Murcia, the Balearic Islands and other coastal property markets. Banco Sabadell continues to operate as an independent bank following the unsuccessful BBVA takeover offer.

Bankinter has a smaller physical network than some of the largest banks but operates nationally and is well established in personal banking, private banking, investments, insurance and mortgage lending.

Unicaja Banco is especially prominent in Andalusia and the Costa del Sol, as well as in several areas of Castilla y León and Castilla-La Mancha. It is a familiar name for buyers purchasing in Málaga, Marbella, Estepona and other parts of southern Spain.

ABANCA is particularly strong in Galicia and north-western Spain, although it also has branches and customers in other parts of the country.

Kutxabank has its strongest presence in the Basque Country. It also operates through Cajasur in parts of Andalusia.

Ibercaja is traditionally associated with Aragón and has an important presence in Zaragoza, La Rioja, Castilla y León, Guadalajara and Madrid.

Cajamar is a cooperative banking group with a strong presence in Almería, Murcia, Andalusia and the Valencian Community. It offers many of the same commercial banking services as a conventional retail bank.

Banca March is a family-owned Spanish bank with historical roots in the Balearic Islands. It is particularly associated with private banking, wealth management, business banking and investment services.

Spain also has digital banks and foreign banking groups. However, not every institution offers current accounts to non-residents, and not every bank finances residential property purchases.

Where are there more bank branches in Spain?

Spanish bank branches are concentrated mainly in the most populated and economically active provinces.

According to Banco de España figures for March 2026, there were 17,196 branches belonging to deposit-taking institutions in Spain, or 17,277 when other credit institutions and financial credit establishments are included.

Madrid had the largest provincial network, with 1,792 deposit-taking branches. Barcelona followed with 1,401. Other provinces with substantial networks included Valencia, Alicante, Seville, Málaga, Murcia, Badajoz, Bizkaia and Zaragoza.

This means that finding a physical bank is normally straightforward in large cities and popular property markets such as:

• Madrid
• Barcelona
• Valencia
• Alicante and the Costa Blanca
• Málaga and the Costa del Sol
• Seville
• Murcia
• Bilbao
• Zaragoza
• Mallorca
• The Canary Islands

Branches in areas with a large foreign population are more likely to have experience with international customers. However, this does not guarantee that every employee will speak English or specialise in non-resident mortgages.

Mortgage applications are often reviewed by a central risk department rather than approved directly by the local branch.

Are bank branches disappearing in Spain?

The number of traditional branches has fallen considerably since the financial crisis. In 2008, Spain had more than 45,000 bank branches. By 2024, the network had fallen to around 17,300 as a result of mergers, restructuring and the rapid growth of online banking.

This does not mean that banking services are difficult to access.

Spain now has more than 83,900 physical access points when branches, ATMs, banking agents, mobile offices and other face-to-face services are counted together. These services cover municipalities representing approximately 99.4% of the Spanish population.

Spain also continues to have one of the densest banking networks in Europe, despite the reduction in the number of conventional offices.

Can a foreigner open a bank account in Spain?

Yes. Both residents and non-residents can normally open a Spanish bank account, although the type of account and documentation required will depend on the bank.

A non-resident account is commonly used by people who own a holiday home, are preparing to purchase property or spend part of the year in Spain.

Having a Spanish account makes it easier to pay:

• Utility bills
• Community fees
• Property taxes
• Insurance premiums
• Mortgage instalments
• Other regular expenses connected with a Spanish property

Foreign customers are usually asked to provide a valid passport or identity document, proof of address and confirmation of their country of tax residence. The bank may also request an NIE, although the precise requirement varies by institution and account type.

Depending on the customer’s profile, the bank may ask for proof of employment, payslips, tax returns, company information, bank statements or evidence showing where the funds deposited into the account have come from.

These checks form part of the bank’s legal obligations relating to customer identification and the prevention of money laundering.

Can a Spanish account be opened online?

Many banks allow customers to begin or complete the account-opening process online. This may involve uploading documents, completing a video identification check and signing the contract electronically.

However, the online options available to non-residents are sometimes more limited. A customer living abroad may still be asked to visit a branch, provide additional certified documents or obtain an NIE before the account becomes fully operational.

Digital banks can offer a simpler opening process, but they may not provide all the services required for a property purchase. For example, an online account may be suitable for card payments and transfers but may not offer a mortgage or provide support for a complex property transaction.

How much does a Spanish bank account cost?

There is no standard price for a bank account in Spain.

Some accounts have maintenance costs, while others can be free when the customer meets specific conditions. A bank may reduce its account charges when the client deposits a salary or pension, uses a card regularly, arranges direct debits or purchases other products.

Non-resident accounts may have different conditions because the bank has to carry out additional identification and compliance checks.

Before opening an account, customers should review:

• Account maintenance conditions
• Debit and credit card costs
• Cash withdrawal rules
• International transfer charges
• Currency conversion margins
• Requirements for avoiding account charges
• Conditions attached to additional banking products

A “free” account may only remain free while the customer continues to satisfy the bank’s conditions. It is therefore important to read the contractual information rather than looking only at the advertised headline.

What products do Spanish banks offer?

Spanish commercial banks offer much more than current accounts.

Most provide savings accounts, debit and credit cards, online banking, domestic and international transfers and direct debit services. They also commonly offer personal loans, vehicle finance, business banking and residential mortgages.

Many banks sell savings and investment products, including fixed-term deposits, investment funds, pension plans, bonds and managed portfolios. These products do not all provide the same level of capital protection and should be considered separately from an ordinary deposit account.

Spanish banks are also major distributors of insurance. Customers may be offered home, life, health, car or payment-protection insurance.

Insurance products are frequently presented during a mortgage application because taking certain products can sometimes reduce the mortgage interest rate. However, the customer should understand the price of each product and whether the combined arrangement is genuinely advantageous.

A lower mortgage rate does not automatically mean a lower total cost when additional insurance or services must be maintained.

Do Spanish banks provide services in English?

English-speaking assistance is widely available in areas with a significant international population, including Madrid, Barcelona, Marbella, Málaga, Alicante, Mallorca and the Canary Islands.

Some branches also provide assistance in French, German, Dutch or other European languages.

Nevertheless, multilingual service depends on the bank and the individual office. Important contracts and formal mortgage documentation may be issued in Spanish even when the initial advice has been provided in English.

Foreign customers should make sure that they understand all account, insurance and mortgage conditions before signing.

Which Spanish banks offer mortgages to foreigners?

Many large Spanish banks consider mortgage applications from non-residents, but they do not all use the same approval criteria.

A bank may assess:

• The applicant’s country of residence
• Nationality
• Employment status
• Income and income currency
• Existing debts
• Age
• Credit history
• Tax documentation
• Type and location of the property
• Purchase price and valuation
• Source of the buyer’s deposit

This is why it is not possible to name one bank as the best bank for every foreign buyer.

A lender that works well for a salaried applicant living in France may not be the right bank for a company owner living in the United States. Another bank may be more comfortable with income from the United Kingdom, the Middle East or a non-euro currency.

At Mortgage in Spain® Mortgage Broker, we regularly see different banks assess the same customer in different ways. One lender may decline a profile that another institution considers acceptable because each bank has its own internal risk policy.

How much will a Spanish bank lend to a non-resident?

Spanish banks commonly offer non-residents financing of up to approximately 70% of the lower of the purchase price or the bank valuation.

For example, when a property is purchased for €500,000 but valued by the bank at €470,000, the maximum percentage is normally calculated using the lower valuation of €470,000.

The buyer must provide the remaining purchase funds and also have sufficient savings to cover the taxes and expenses connected with buying the property.

The final mortgage amount depends on the customer’s income, debts, age, mortgage term, country of residence and overall financial situation. It also depends on whether the bank accepts the property as suitable security.

The maximum percentage should therefore never be treated as a guaranteed offer.

Should you open an account before applying for a mortgage?

It is not usually necessary to open several Spanish accounts before knowing which bank will provide the mortgage.

A foreign buyer can normally start the mortgage assessment by submitting financial documents and basic information about the intended purchase.

Once the most suitable lender has been identified, the required account can be opened with that bank. This account will normally be used to receive the mortgage, pay the monthly instalments and arrange the direct debits connected with the property.

Opening accounts with several banks in advance can create unnecessary administration and account costs.

Is it better to apply directly to a bank?

Applying directly to a bank may appear simpler, but that institution can only offer its own mortgage products and apply its own lending criteria.

The bank will not normally explain that another lender may understand the applicant’s income better, accept a different property type or offer more suitable conditions.

A rejection from one bank does not necessarily mean that the customer cannot obtain a mortgage in Spain. It may simply mean that the application was presented to the wrong lender.

This is particularly important for non-residents because banks have different policies regarding foreign tax documents, company-owner income, international currencies and countries of residence.

Let Mortgage in Spain® Mortgage Broker find the right bank

Mortgage in Spain® Mortgage Broker specialises in helping non-residents obtain mortgages for properties throughout mainland Spain, the Balearic Islands and the Canary Islands.

Instead of asking you to contact different banks and repeat the same application several times, we first analyse your financial circumstances. We then identify the banks whose current policies are most suitable for your country of residence, income, employment and intended property purchase.

We prepare and present the application, communicate with the banks, compare the available proposals and assist throughout the valuation, approval and signing process.

The service is completely online and is available in English, Spanish, French and Dutch.

Most importantly, the client pays no mortgage broker fee because our service is paid by the bank.

Do not rely on the nearest or most famous bank

The bank with the nearest branch is not necessarily the bank most likely to approve your mortgage.

The most famous bank is not always the one offering the most appropriate solution for your particular circumstances.

Request your free mortgage assessment from Mortgage in Spain® Mortgage Broker and let us identify the right Spanish banks for your property purchase.

All mortgage applications remain subject to the lender’s risk assessment, the property valuation and the bank’s final approval criteria.