Open a Corporate Bank Account in Spain: Process & Types of Accounts

Are you considering opening a business abroad? If so, Spain is among the most alluring travel locations in Europe for businesspeople. However, to smoothly operate your business, you must open a corporate bank account in Spain.

A business bank account will not only help you manage daily transactions but also streamline local and international payments, improve financial management, and enhance your credibility with clients and suppliers.

In this guide, we’ll walk you through the benefits, types of accounts, required documents, top Spanish banks, and the step-by-step process to open a corporate bank account in Spain.

Why Open a Corporate Bank Account in Spain?

Spain’s banking sector is highly integrated with the global financial system and has seen strong growth over the past decade. 

Some key reasons why businesses choose to open a corporate bank account in Spain include:

• Access to EU financial markets – Spain is home to some of the major banks in the Eurozone, offering global banking services.
• Ease of payments – Utility bills, rent, taxes, and mortgages in Spain can often only be paid via a local account.
• International banking compatibility – Spain accepts most global credit and debit cards (Visa, Mastercard, American Express), though foreign transaction fees may apply.
• Streamlined operations – Having a Spanish account helps manage payroll, supplier payments, and local contracts more efficiently.

Are you looking to open your business in Spain? Speak with our experts from OnDemand International today. 

Types of Corporate Bank Accounts in Spain 

Spanish banks offer different account types tailored to individuals, companies, and non-residents. The most common include:

1. Current Accounts

These are the most widely used accounts for everyday business transactions. They cover payroll, supplier payments, and routine expenses. Many banks also offer special current accounts designed for entrepreneurs, freelancers, and startups with added benefits like reduced fees or integrated online tools.

2. Savings Accounts

Savings accounts are ideal for businesses that want to set aside extra funds. Depending on the bank, these may be basic deposit accounts or investment-linked options connected to shares, funds, or bonds—allowing businesses to grow their reserves while earning interest.

3. Digital Accounts

With Spain embracing digital transformation, most banks now provide fully online business accounts managed through mobile apps. These digital accounts are perfect for companies that want 24/7 accessibility, paperless banking, and lower fees.

4. Foreign Accounts (Non-Resident Accounts)

Foreign entrepreneurs and companies expanding into Spain often prefer non-resident accounts. These are typically euro-based accounts that facilitate seamless transactions not just in Spain but across the European Union, making them highly practical for international trade.

5. Offshore Accounts

For businesses operating across multiple jurisdictions, offshore accounts can be highly beneficial. They allow for cross-border transactions, lower tax exposure, and greater financial flexibility, making them especially attractive for global entrepreneurs and multinational businesses.

How to Open a Business Bank Account in Spain?

When you’ve decided on the bank you’d like to create an account at, you can proceed with opening your account. The majority of institutions in Spain are usually operational between 8:30 am and 2 pm, from Monday through Friday.

The procedures to open a corporate bank account in France are given below:

Step 1:- Decide the bank

One of the most crucial things that you must do is decide the bank where you want to establish a business bank account in Spain. We will assist you in selecting the best bank based on your business requirements.

Step 2:- Select the method of applying 

You can apply for a bank opening process, over the telephone, in person, or even by mailing an application. The online application process can take approximately 10 or 20 minutes.

We will offer you a hassle-free and secure online account opening process in Spain. You can complete the entire procedure remotely from anywhere in the world.

Step 3:- Provide contact details

Alongside an ID card, be prepared to provide your contact details which include your first and last names along with your telephone number and Spain local address. Along with this, it requires a passport.

Step 4:- Choose a joint or single account

If you’ll be opening an account for yourself or with an additional person, you need to add a person’s name included on your account if you decide to open a joint account.

Step 5:- Accept the terms and conditions

The bank requires you to prove that you have read the disclosure documents that outline fees, liabilities, and how interest for the account is calculated.

Step 6:- Submit your application

You could receive an acknowledgment in a matter of minutes when you submit your application online, however, it may take anywhere between two and five days for the bank to confirm your identity, create the account, and grant you access.

Step 7:- Fund your new account

A lot of banks will require you to make a certain deposit, usually ranging between $25 and $100. However, some banks do not have minimum deposit requirements.

Documents Required to Open a Corporate Bank Account in Spain

In the process of opening a bank account in Spain, the businessperson is required to submit their identification documents for themselves along with the company’s legal documents and many more things. 

We’ve provided a list of the paperwork needed to open a corporate bank account in Spain.

• Articles of Association
• Certificate of Incorporation for businesses
• Your NIE number and numero de identificacion de extranjeros (certificate)
• Proof of address
• A valid passport is required for natural people
• Good Standing Certificate 
• Latest financial report

Our team of experts will handle the collection and submission of your documents for verification. We will ensure that all provided documents comply with the bank’s requirements.

Things to Consider while Opening a Bank Account in Spain

For opening a bank account in Spain, it is important to consider your financial requirements in terms of the services and products the bank can provide.

Here are a few suggestions to bear in mind when you wish to open a corporate bank account in Spain:

• Price: It’s rare to find bank services that are free in Spain, but there are many free current accounts. The fees typically depend on the service, so it would be better for you to carefully analyse the services you require.
• Services Offered: The services will not only determine the cost, but also the kind of bank you select. For instance, perhaps you’re seeking an institution where you can make an account and then take out a Spanish mortgage. In this instance, you’ll need to select a Spanish bank.
• Accessibility: If you’re searching for a financial institution that gives access to its services at any time it is best to sign up for the option of a mobile account. No matter which bank you choose, make sure you can receive their services anytime.
• Translation services: International banks generally provide services in English or other widely spoken foreign languages. However, regional banks generally have staff that speaks Spanish, as well as details.

You can also read about accounting services in Barcelona through our blog. 

Types of Banks in Spain

The Spanish banks that provide services and accounts to foreigners comprise the following:

1. Santander

Santander is the largest bank in Spain and is likely one you’re familiar with if reside here in the US. Santander provides a variety of current accounts, ranging from basic to non-resident accounts as well as its “Classic” account that is geared towards younger individuals.

They also have a variety of choices for debit and credit cards for customers to select from and baking apps for those who require banking via digital channels.

2. BBVA

BBVA is one of the most frequently used banks for ex-pats. This particular bank offers a variety of account types that are commission-free, including an account for current transactions and the “young blue” account for those between 18 and 29, and an account for payroll to assist employees with managing their income.

They also have an international banking app that allows mobile payments through Apple Pay, Samsung Pay, Google Pay, and several debit, credit and prepay cards.

We can provide assistance in opening a business bank account in BBVA bank. You can consult our business experts for registering your business in Spain and for opening bank account there. 

3. Banco Sabadell

Banco Sabadell is another population bank that is popular with ex-pats because they provide a no-cost translation service that is available the “Key” account, which is available to all residents of the world. 

They also have their customers an “Expansion” account that includes unlimited free withdrawals and deposits, as well as a “Primera”, accounts for savings that are geared towards youngsters, and a “Higher Sterling” savings account that is open to all other customers.

4. International Banks

Finally, they provide various low-cost international money transfer alternatives. If you don’t want to create an account with a Spanish bank, there are other options. 

Spain also has international options that include:

• Barclays
• Citibank
• Deutsche Bank
• HSBC
• ING

The above options offer basic current accounts and saving accounts and mobile apps and much more.

Are you looking to expand your business in Europe? Read our blog to know the complete procedure and best place for your business. 

Conclusion

Opening a corporate bank account in Spain is not only a legal necessity but also a strategic advantage for entrepreneurs and businesses expanding into Europe. With the right account, you gain access to the EU financial system, streamline local and international payments, and strengthen your company’s credibility.

Whether you are a resident entrepreneur, an expat, or a foreign investor, Spain offers a variety of banking solutions tailored to your needs.

At OnDemand International, we go beyond just helping you open a bank account—we also specialize in company incorporation in Spain. From guiding you through legal documentation to selecting the right business structure and connecting you with top Spanish banks, our experts ensure a seamless expansion process.

Whether you want to incorporate your business in Spain or open a corporate bank account, our team is ready to help you at every stage. Speak with our Spanish incorporation experts right away.

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