In recent years, online banking in Spain has changed a lot. It now offers many options for both expats and locals. Neobanks in Spain are leading the way, making banking easier, cheaper, and more convenient.
This guide will look at the top online banks in Spain for 2024. We’ll cover what they offer, like different accounts, international transfers, and how easy they are to use.
Spain’s digital banking scene includes big names like BBVA Bank and Santander. They make it easy to send money and get loans, perfect for expats. Bankia and Evo Banco also stand out, with no fees and new banking ideas. For more on these banks, check our detailed resources on best banks in Spain.
This guide aims to help you find the perfect bank for your needs. It will make your Spanish digital banking experience better.
Overview of Online Banking in Spain
Spain’s financial sector is well-developed, with both traditional and online banking. The rise of neobanks has made online banking more accessible. Now, people can use their smartphones for various financial tasks.
This change has drawn many expats and non-residents. They can now handle everyday banking tasks easily. This is thanks to the growth of digital banking in Spain.
Online banking in Spain offers many benefits. It’s convenient, saves money, and doesn’t require physical branches. Users can open accounts, transfer money, and use banking services anytime, anywhere.
Neobanks like N26 and Revolut are popular for these reasons. N26 has no monthly fees and offers basic features. Revolut, with over 12 million users, is great for those who travel a lot.
There are also services like Tomorrow and Wise. Tomorrow focuses on sustainability, while Wise is known for cheap international transfers. Imagin, a mobile app from CaixaBank, helps users manage their budgets easily.
Mobile banking is very popular in Spain, with about 80% of residents using smartphones. A 2014 study showed Spain leads in mobile banking use in Europe. Banks like BBVA and Bizum are leading the way with modern banking solutions.
Guide to best online banks spain
The banking scene in Spain has changed a lot thanks to digital tech. This guide looks at the best online banks in Spain. It covers digital banking options and the top neobanks for different needs.
N26 and Revolut are popular for their easy-to-use apps and low fees. They’re great for young people and international students.
Banco Santander offers good interest rates for students. It’s also good for those who send money abroad. BBVA is known for its digital services, including a free salary account for non-resident students.
CaixaBank is praised for its personalized service. It uses digital tools well, making it a top choice for international students.
Banco Sabadell focuses on making banking personal. It has many ATMs in Spain, making it easy to get money. Bankia is all about being open and making customers happy, with free accounts and extra perks.
ING is known for its easy banking and good interest rates. It’s simple and efficient. Bankinter is famous for its personal service and wide range of financial products.
Kutxabank is all about personal service, with easy online and mobile access. Wise lets you manage over 50 currencies easily and securely.
Revolut is great for tracking your spending. N26 has no fees for transactions in any currency and free ATM withdrawals in euros. Monzo offers no fees for international transactions and free ATM withdrawals abroad each month.
Starling Bank is perfect for international banking. With so many options, you can find the best neobank for you.
Best Online Banks in Spain
Spain has many financial institutions, from old banks to new digital ones. Online banking is getting more popular, and some banks are leading the way. Here’s a look at some top online banks in Spain, highlighting their special features and what they offer.
| Bank | Established | Cost | Notable Features | Target Customer Base |
|---|---|---|---|---|
| N26 | 2013 | Free for basic accounts | Up to 8 free ATM withdrawals in euros/month, instant transfers | Travelers, expats |
| Tomorrow | 2018 | Varies by plan | Sustainability initiatives, personalized banking | Environmentally conscious customers |
| Revolut | 2015 | Free basic plan | Fee-free foreign ATM withdrawals, supports 25+ currencies | Frequent travelers, expats |
| Wise | 2011 | Varies by service | International transfers in 40+ currencies, low exchange fees | Expatriates, international businesses |
| Imagin | 2016 | Free accounts available | Digital banking solutions connected to CaixaBank | Young customers, tech-savvy users |
N26 is the top choice for those new to digital banking. It’s free and easy to use. Revolut is great for everyone, but it’s perfect for travelers. Wise is the best for handling money across different countries.
Tomorrow is for those who care about the planet. It’s all about green banking. Imagin is perfect for those who want to keep using traditional banking but also enjoy digital services.
Choosing the Right Bank for Your Needs
When picking a bank in Spain, it’s key to assess your banking needs well. Look at fees, services, customer support, and how easy it is to get to the bank. For example, many accounts for non-residents in Spain have high fees. This could affect your money if you don’t plan for it.
Every bank has its own set of features for different customers. When choosing, think about what you need. Traditional banks like Santander have accounts for non-residents but might charge up to 20 EUR a month. Online banks like Wise and Revolut, on the other hand, have low or no fees. They also make managing money across borders easy.
Also, think about how easy it is to get help from the bank. Non-residents might need to visit a branch to fully use their accounts. But online banks like Wise make things simpler. For more tips on choosing the best bank, check out this guide on opening a bank account in.
