American Having a Hard Time Opening a Spanish Bank Account

Last activity 28 June 2021 by kittycat1

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rmisiclierNew member21 June 2021 12:22:57

Hello!
I am Roger.
My interest is to purchase a property in the Malaga area and was told that I needed an NIE in Spain in order to open a bank account and transact.

I obtained the NIE through the embassy in Washington, and made a trip this month to Spain to inspect the property and open a bank account at BBVA.

I presented all the credentials necessary which included my passport, NIE, letters from my bank institutions in the US ascertaining that the funds to be transferred to my new account are "legitimate". They also asked for my social security card and tax filings. I presented everything they wanted.

They said they would approve it soon, but after 10 days (and I'm back in the US), they told me the compliance department would NOT open an account for me.

Is this how banks operate there or is this just BBVA?
Thank you for any help....
Roger

roby65Member21 June 2021 12:47:51

Try Bankinter. I'm Italian and I didn't any problem to open a bank account.
Ciao, Roberto

JaneLoveitBanned21 June 2021 15:04:54

What reason did compliance department give? I assumed you asked.

novaluckMember22 June 2021 07:28:30

Hi Roger!
I am spanish but I had live in the US most of my life. When I came back I tried opening a bank account with BBVA and the gave me all sorts of problems as well. Any other back in Spain will be easier than them.
I have an account in La Caixa but Bankinter is a good one too. I would try them

rmisiclierNew member23 June 2021 14:59:34

They claim it's a "software issue" on their end. Very strange!

rmisiclierNew member23 June 2021 15:00:23

Thank you! I will check them out

ZdravichActive member24 June 2021 15:53:08

We are Americans living in Spain, and shortly after we arrived we opened an account at Banco Sabadell with no problems. It was done on the spot at our appointment with a banker. Banco Sabadell seems to "specialize" in helping foreigners living in Spain. Give them a try.

gwynjBulgaria Expert28 June 2021 11:00:38

2199

Like @ZDRAVICH we got one at Sabadell.

We did need NIE, but they gave me a "non Resident's account" at a higher monthly fee, prior to me sorting out my residence. After I got my residence permit, I let the bank know and they changed the account status and the fee went down.

gwynjBulgaria Expert28 June 2021 11:00:49

2199

We traipsed around Madrid for several hours trying to open an account, and they all insisted they could only do it after we had residence (apart from one that said they could do it we became a bank customer by buying a very expensive health insurance policy). So we were very pleased when we walked into a Sabadell and they were more flexible.

kittycat1Serial expat28 June 2021 15:43:52

#10

204

In oder to open a bank account in Spain
some banks, persuades you to commit to buy 'their other bank-finantial products' aka Insurance claims, Retiments Plans, Investment Funds..just to open a savings bank account.

I must point out that any of 'those other products' offered are not mandatory by law ie Life Insurance, Health Insurance, by the exception of Home Insurance which will be mandatory only for morgages.
So by law, they can't obligate you to do so.

For any abussive savings account' claims you can summit a copy of your previous -branch bank complaint form- to:
Banco de España - OCU·Customer's Association - Ministry of Economy of Spain

https://www.ticpymes.es/legislacion/tru … ria.1.html

https://clientebancario.bde.es/pcb/es/m … lizarrecl/

https://sede.mineco.gob.es/portal/site/ … 06140aRCRD

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