# opening a bank account in Spain



## Il Buono

Hi, banking regulations have changed an awful lot in recent years. I'm planning a reccy to Spain in 2014 with a view to a move in 2015. As a non resident with no Spainsh address, can you open a bank account?

In UK now, you cannot open a new UK bank account unless you reside permanently in UK or can show a UK address with utility bills or similar for a given period. Other countries follow different guidleines, hence my question.

The advantages of having a Spanish bank account already set up before a pemanent move for me are numerous.


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## jojo

Il Buono said:


> Hi, banking regulations have changed an awful lot in recent years. I'm planning a reccy to Spain in 2014 with a view to a move in 2015. As a non resident with no Spainsh address, can you open a bank account?
> 
> In UK now, you cannot open a new UK bank account unless you reside permanently in UK or can show a UK address with utility bills or similar for a given period. Other countries follow different guidleines, hence my question.
> 
> The advantages of having a Spanish bank account already set up before a pemanent move for me are numerous.



I believe you can open a non resident bank account with just your passport and a euro. As a non resident account, any rates are higher and you will be expected to change it to a resident account within a set period of time I believe.

This thread may help if you have a read thru http://www.expatforum.com/expats/sp...pain/240738-transfering-money-uk-account.html

Jo xxx


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## Il Buono

jojo said:


> I believe you can open a non resident bank account with just your passport and a euro. As a non resident account, any rates are higher and you will be expected to change it to a resident account within a set period of time I believe.
> 
> This thread may help if you have a read thru http://www.expatforum.com/expats/sp...pain/240738-transfering-money-uk-account.html
> 
> Jo xxx


Thanks for the info Jo, I hope the regulations don't change. I'd simply open an account to transfer money from UK so funds were in place when needed e.g a deposit on a rental.


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## kimuyen

Il Buono said:


> As a non resident with no Spainsh address, can you open a bank account?


My husband was able to open a non-resident bank account with La Caixa in Aug with his Irish passport and 20 euros deposit. He is able to access his account on line from the US and transfer money from his Canadian bank to his La Caixa bank.

Just be prepared though that staff may not speak English or very little Eglish.


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## Il Buono

Many thanks Kimuyen.


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## highseasgypsy

I'm new to the area and don't have an NIE number. BBVA was the only bank I found that was happy to open a non-resident account and it was completely free. I opened mine in Moraira and everybody there speaks good English. Good luck.


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## Il Buono

highseasgypsy said:


> I'm new to the area and don't have an NIE number. BBVA was the only bank I found that was happy to open a non-resident account and it was completely free. I opened mine in Moraira and everybody there speaks good English. Good luck.


Thanks for that.


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## peter3

Can anyone tell me how to identify the sort code in the IBAN in my new Spanish bank account with Ibercaja?

Many thanks,


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## angkag

Just opened a non-resident bank account and all I needed was to show a UK address from my UK driving licence and passport. 

The person in Sabadell (Sotogrande) mentioned half the people with accounts there didn't speak Spanish, so all the staff spoke good English. 

Experience with Sabadell has been very positive. 

(have since switched to resident account once residence papers got, again all very easy)


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## Helenameva

peter3 said:


> Can anyone tell me how to identify the sort code in the IBAN in my new Spanish bank account with Ibercaja?


In my bank book it says the first 8 eight numbers are the international bank identifier and the next four are the 'office' (oficina), I guess that is the equivalent of a sort code. The next two are labelled D.C. and the last ten are the account number.

BTW, my experience with Banc Sabadell has been horrendous, so it is the luck of the draw I suppose on where you live and who you get. I'm now with Catalunya Caixa, so far so good.


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## marthassos

Hi there,

We move to Spain in 45 days. 4 weeks ago I opened our non-residents bank account with Banc Sabadell in Torrox-Costa. Everything was done online and via email. They were very professional, English was perfect and the whole process was very smooth.

I did have to deposit €120 but I was happy to do so. They already have my bank cards in the branch ready for me to collect and switch my account to a residents account also.

Hope that helps.


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## peter3

Thank you for your reply but, no, it does not help. What I need is the sort code, which is somewhere in the IBAN. Never mind, I'll ask them when I get there.

I opened a bank account in the Pyrenees. Nobody spoke English, or French, or German. They weren't very organised, well, not for foreigners like me. But I managed, in Spanish and they managed to get their system to accept me. It's Ibercaja. The account is free, for ever, they said, so that's nice. I'm happy struggling by in Spanish because I do have to learn this language. They aren't going to learn English.


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## snikpoh

peter3 said:


> Thank you for your reply but, no, it does not help. What I need is the sort code, which is somewhere in the IBAN. Never mind, I'll ask them when I get there.
> 
> I opened a bank account in the Pyrenees. Nobody spoke English, or French, or German. They weren't very organised, well, not for foreigners like me. But I managed, in Spanish and they managed to get their system to accept me. It's Ibercaja. The account is free, for ever, they said, so that's nice. I'm happy struggling by in Spanish because I do have to learn this language. They aren't going to learn English.


You should NOT need the sort code, if indeed there is one. 

The IBAN is absolutely sufficient these days for anything and everything (may need SWIFT code as well in some places).


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## marthassos

I used my IBAN and SWIFT to transfer money and it worked perfectly fine for me. I pick up my account details when I get there.


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## peter3

Well guys, the reason I'm looking for a sort code is because it is necessary to do what I want to do.


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## snikpoh

peter3 said:


> Well guys, the reason I'm looking for a sort code is because it is necessary to do what I want to do.


If you look in WIKI, you will see that Spanish IBAN numbers do NOT contain a sort code - they have country codes, branch codes and account numbers.. 


> ... it contains key bank account details such as country code, branch codes (known as sort codes in the UK and Ireland) ...


To my knowledge, Spain don't use sort codes - they use a combination of factors.

It may be possible to deduce a sort code from an IBAn but it's not clear how.


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## angkag

peter3 said:


> Well guys, the reason I'm looking for a sort code is because it is necessary to do what I want to do.


just looking at my account and the IBAN is 30 characters in the form:

ES53 0081 7465 97xx xxxx xxxx

0081 is the bank code
7465 is the branch code
97 is the "c.d" (?)
then the xs are the account number

The there is the BIC which is of the form BSABESBB

From wiki ""...The sort code, which is a six-digit number, is usually formatted as three pairs of numbers, for example 12-34-56. It identifies both the bank and the branch where the account is held. In some cases, the first digit of the sort code identifies the bank itself and in other cases the first 2 digits identify the bank.[1] Although there is a strong correlation between BIC Codes and sort codes, sort codes are not explicitly encoded into BIC codes (although they are encoded into IBANs)...."

So I'm guessing my sort code is 81-74-65.


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## peter3

Thank you angkag, this is helpful. I'm not insisting on finding the sort code, Paypal is. I'm trying to transfer money to my new account in Spain using that and they demand a sort code. If I can use Paypal, it is a lot simpler and more convenient than using a bank.

Yes I know there are other online transfer companies but I've tried them. They insist you have a phone and I don't have one.


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## wilsman77

I opened my Banc Sabadell account without even going to Spain. Although i did have to go to their Branch in Pall Mall London to sign paperwork.


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## wobbles64

Try Richard Bransons Transferwise, they are on facebook. They offer a much cheaper way to transfer money than rip off bank charges so might be a solution rather than paypal. I've not personally used them though.


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## peter3

Many thanks for all your helpful advice. I have, finally, persuaded Currencies Direct that I am a real person, even though I don't have any kind of phone. Their service is very good, excellent exchange rates, instant online transfers and they tell me it's free.


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## snikpoh

peter3 said:


> Many thanks for all your helpful advice. I have, finally, persuaded Currencies Direct that I am a real person, even though I don't have any kind of phone. Their service is very good, excellent exchange rates, instant online transfers and they tell me it's free.


Ha, ha. We were told that as well. Then we tried them and, because of how they 'route' the money, we had to pay bank charges.

Worth looking at CurrencyFair.


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## Helenameva

snikpoh said:


> Worth looking at CurrencyFair.


Agreed. I've done quite a few transfers now with Currency Fair following advice from other forum members. Good service and exchange rates and low fees.


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## joeprem

*Opening a bank account in Spain*

I want to open a Spanish bank account as a non-resident. I have a British passport but my residency is in Gibraltar for which I have a Gibraltar ID with my address there and a Gibraltar driving licence. Does anyone know if I can open an account according to what I have mentioned, and what bank(s) do you suggest.


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## incastone

peter3 said:


> Thank you angkag, this is helpful. I'm not insisting on finding the sort code, Paypal is. I'm trying to transfer money to my new account in Spain using that and they demand a sort code. If I can use Paypal, it is a lot simpler and more convenient than using a bank.
> 
> Yes I know there are other online transfer companies but I've tried them. They insist you have a phone and I don't have one.


Hi Peter, I feel your pain regarding finding economical cross-border transfer methods..

I take it you're trying to create a Paypal account to link to your Spanish bank account.

I also plumped for Paypal as up til now, it made sense over a traditional bank transfer, because even though the Paypal exchange rate is terrible, the 1% charge still meant a saving could be made. 

I think you're missing a trick though, if your only objection to using a transfer service is that you don't have a phone.
It doesn't have to be your phone. 
Do you not have a family member that has a phone number? 

You're throwing money away by not using someone like Transferwise. 
This isn't a plug, but I've moved so much money around (legitimitely!) that I know this is the easiest and cheapest option.
You get mid-market rates and only 0.5% commission as opposed to Paypal's 1%.
It's the exchange rate that really makes the difference.

But you'll still need that sort code


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## larryzx

Sorry, I realise this applies only to those with Crown Pensions (civil servants, police, military etc) and OAPs

When I want to top-up my Spanish bank account I instruct my pension admin to make a couple of monthly payments to my Spanish bank instead of as usual to my UK bank. (They accept email instructions). 

That means I get the very best exchange rates and no changes.


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## Rugbyplod

larryzx said:


> Sorry, I realise this applies only to those with Crown Pensions (civil servants, police, military etc) and OAPs
> 
> When I want to top-up my Spanish bank account I instruct my pension admin to make a couple of monthly payments to my Spanish bank instead of as usual to my UK bank. (They accept email instructions).
> 
> That means I get the very best exchange rates and no changes.


I will be in that position soon have I missed something what only applies to crown pension


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## paperdetective

I contacted the national Sabadell phone today and they came over as very unhelpful.
They require proof of income and NIE number and a local address. So a foreigner cannot open a bank account without that. The girl writing emails was also barely adept at writing in English despite that their site was designed especially for English speaking foreigners. The call back functionality they offer on the site did not result in a phone call.


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## larryzx

Rugbyplod said:


> I will be in that position soon have I missed something what only applies to crown pension


I have had my OAP paid to my Spanish Bank since I first got it. My Crown Pension though I keep in a UK bank. I top up the Spanish account occasionally, as I explained.


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## snikpoh

paperdetective said:


> I contacted the national Sabadell phone today and they came over as very unhelpful.
> They require proof of income and NIE number and a local address. So a foreigner cannot open a bank account without that. The girl writing emails was also barely adept at writing in English despite that their site was designed especially for English speaking foreigners. The call back functionality they offer on the site did not result in a phone call.


Don't worry, you get these sort of people everywhere and in every country.

To open a non-resident account with Sabadell, all you need is a passport and some money. You do NOT need an NIE and you do NOT need to prove income.

If you are applying for a specific account, then you may need other things like NIE and proof of sufficient deposits to reduce the bank charges.

Your best bet is to pop into a branch when you're next here.


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## larryzx

paperdetective said:


> I contacted the national Sabadell phone today and they came over as very unhelpful.
> They require proof of income and NIE number and a local address. So a foreigner cannot open a bank account without that. The girl writing emails was also barely adept at writing in English despite that their site was *designed especially for English speaking foreigners. The call back functionality they offer on the site did not result in a phone call*.


I suggest you try a Caja, they are usually more approachable, provide all the same services, usually cheaper and, just in my opinion, Sabadell are the worst bank you could choose. You appear to have discovered that too:- "_designed especially for English speaking foreigners. The call back functionality they offer on the site did not result in a phone call_"

I know my experience differs from snikpoh, but one is usually required to have an NIE to make any financial translations. You can usually open an account without it but you will then need an NIE and a Certificate of Non Residence, (if that is the type of account you are opening) which the bank, any bank, can, for a fee, obtain for you.


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## el pescador

Do watch out for "added" charges.
My bank added home insurance when i wanst even renting lol.

Some people will try it on.
I said i never asked for it but the assistant said i signed for it....obviously all in Spanish.
Had to kick up a fuss to get it removed.


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## tantocomo

If you live near a branch of ING then as far as I know they are the only bank that don't have charges. But the problem is they don't have many branches!


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## Pesky Wesky

tantocomo said:


> If you live near a branch of ING then as far as I know they are the only bank that don't have charges. But the problem is they don't have many branches!


ING is basically an online bank which is why it doesn't have branches


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## Lynn R

tantocomo said:


> If you live near a branch of ING then as far as I know they are the only bank that don't have charges. But the problem is they don't have many branches!


Many banks now have accounts free of charges if you have a salary or pension paid into them, and some accept regular monthly money transfers in place of a salary or pension.


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## ben72

I have opened an account with la caixa with just my passport before I had my NIE, however, the banks in Spain do charge you quite a lot for an account.


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## snikpoh

ben72 said:


> I have opened an account with la caixa with just my passport before I had my NIE, however, the banks in Spain do charge you quite a lot for an account.


.. as previously stated, many banks do NOT make charges but conditions will apply.

You just have to do your homework based on your particular circumstances.


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## Robins92

I have just opened a account online with Sabatell. Within 2 days the account was ready with paperwork and card waiting for me to sign in Mojacar branch. All done via email, great communication.


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## StevejR1

We are just in the process of opening an account in order to progress with our house purchase in Spain.

As far as I'm aware you can open a non resident account, but the fees are higher? We also need our NIE's before we do.

In our research, we have found that Sabadell offer free banking if you make a regular monthly deposit of approximately €700p/m.

The BBVA bank also has three branches in the uk...all in London I believe, so I suspect international transfers may be easier through this bank, but I've not got to the bottom of any charges for doing them yet....

I think your convenience for a local bank is also a very high factor in your decision to be honest.


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## snikpoh

StevejR1 said:


> The BBVA bank also has three branches in the uk...all in London I believe, so I suspect international transfers may be easier through this bank, but I've not got to the bottom of any charges for doing them yet....
> 
> I think your convenience for a local bank is also a very high factor in your decision to be honest.


With on-line banking, I can make an international transfer and the money is in my account the same day! Yes, charges may apply but if you need it quickly, then it's easy. 


I still can't get my head around, in this day and age, why people want a local bank - makes no sense to me at all. Provided they have a good on-line portal, are part of one of the main ATM networks, what else do you need?


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## angkag

StevejR1 said:


> In our research, we have found that Sabadell offer free banking if you make a regular monthly deposit of approximately €700p/m.


Thats the account I've got with Sabadell (pretty happy with it so far) . My wife just opened an account with Barclays (just bought by La Caixa) and Barclay's has two options, one requiring "income payments into the account" of 900 a month and one requiring "income "of 2,500 a month.

I asked Barclays if that meant monthly deposits of those amounts, and they said no, it had to be registered as income payments. I still don't know what that means yet (and whether there are unforeseen tax consequences in registering transfer of savings amounts as "income"), but will meet the transfer requirements and see what happens next. 

But anyway - the Barclays one is free for 6 months regardless, and if its a problem after that then will just close it (and in 6 months time they mentioned the name would change to La Caixa so there might be other changes too I guess).


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## paperdetective

Actually, I found that in Galicia ABanca is best equipped to cater to foreigners. They set up my account in 2 or 3 days and their service and software is phenomenal. One can also communicate with their offices by email. The documents they needed were: a) NIE letter (can be one you get from your Spanish consulate if still valid before expiry in 3 months) and b) proof of income (is new Spanish law) and c) passport . This is regardless if you are EU or non EU. ABanca her atm's also usually give the best exchange rates on withdrawals from foreign accounts.


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## snikpoh

paperdetective said:


> Actually, I found that in Galicia ABanca is best equipped to cater to foreigners. They set up my account in 2 or 3 days and their service and software is phenomenal. One can also communicate with their offices by email. The documents they needed were: a) NIE letter (can be one you get from your Spanish consulate if still valid before expiry in 3 months) and b) proof of income (is new Spanish law) and c) passport . This is regardless if you are EU or non EU. ABanca her atm's also usually give the best exchange rates on withdrawals from foreign accounts.


Sorry but I must correct some of your errors;

"Galicia ABanca is best equipped to cater to foreigners" - this is your opinion/experience. There are other banks who may do as well or even better and don't make any charges.
"NIE letter (can be one you get from your Spanish consulate if still valid before expiry in 3 months)" - not all banks are asking for this. Your passport should be sufficient.
"proof of income (is new Spanish law)" - this is just plain wrong! This is NOT required and is NOT law especially if you want to open a non-resident account first.
 "ABanca her atm's also usually give the best exchange rates" - really? I don't think this is necessarily the case.


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## paperdetective

Snikpoh,

We will disagree on this then.

I would advise future expats to follow mine.

And I am fluent in Spanish and have lived here before and have tried other banks like BBVA or Sabadell or Santander so there is no mistake. That includes their other brands for on line banking only. 

The computer systems of these banks are thus programmed now that they will not even let an account application through without fulfilling these requiremets. Banks are now agents of government here. By the way, not unique. This has happened all over Europe. 

Oh and US expats will have to fulfill the additional FBAR/Fatca formality if they show a US passport (if you are a dual, it is not necessary to show it). If the bank accepts them. Some are resistant to do so, especially if they are vulnerable in the USA.


Pete


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## Pazcat

paperdetective said:


> Snikpoh,
> 
> 
> The computer systems of these banks are thus programmed now that they will not even let an account application through without fulfilling these requiremets. Banks are now agents of government here. By the way, not unique. This has happened all over Europe.


You can set up an account with Sabadell with just your passport in like 5 minutes online.
https://www.bancsabadell.com/cs/Sat...t/GBS_Form_FA/1191357870942/1191353754846/en/

If you had to choose them.


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## snikpoh

paperdetective said:


> Snikpoh,
> 
> We will disagree on this then.
> 
> I would advise future expats to follow mine.
> 
> And I am fluent in Spanish and have lived here before and have tried other banks like BBVA or Sabadell or Santander so there is no mistake. That includes their other brands for on line banking only.
> 
> The computer systems of these banks are thus programmed now that they will not even let an account application through without fulfilling these requiremets. Banks are now agents of government here. By the way, not unique. This has happened all over Europe.
> 
> Oh and US expats will have to fulfill the additional FBAR/Fatca formality if they show a US passport (if you are a dual, it is not necessary to show it). If the bank accepts them. Some are resistant to do so, especially if they are vulnerable in the USA.
> 
> 
> Pete



But you are still incorrect (oh, and by the way, I speak Spanish as well!).

A friend recently opened a resident account with Sabadell and did NOT have to prove income! If this is a new law, then I haven't heard of it and neither have many banks.

Non-resident accounts only require a passport and can NOT have an income requirement - obviously.

The on-line system from Sabadell is very good and is available in a multitude of languages.



You really must be more careful to get the facts correct.

I accept that a lot of what you say is simply 'your opinion' but if you are giving advice then please make sure that it's accurate.


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## paperdetective

It won't happen that miracle of opening a Spanish bank account online from abroad. Standard practice is now personal identification, under the pretense of preventing money laundering, but really for fear of terrorism as they admit here locally. Same with getting a Spanish cell phone number. One has to show an id now to buy a prepaid sim card.

The online bank account opening option by Sabadell for foreigners is false advertising. Online they would not let me and after calling their 800 number they said that it was only for foreigners who showed up at their offices first.

Worse, nowadays most Spanish banks even require proof of a local Spanish address and often a local phone. Some may not, but one has to be lucky with that. Times have rapidly changed. I got a local cell phone sim to cover the phone requirement. One can rent a PO BOx for an address but that is getting harder too as mail box services are now often demanding proof of local residence. Not sure of the Spanish PO does though.

Peter



Pazcat said:


> You can set up an account with Sabadell with just your passport in like 5 minutes online.
> https://www.bancsabadell.com/cs/Sat...t/GBS_Form_FA/1191357870942/1191353754846/en/
> 
> If you had to choose them.


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## Pazcat

Wasn't that tough for us, we got an account with just a passport. When we finally moved over we gave them our new address and now have a residents account. That's it.

Will change banks shortly though but again all I need is my passport or and ID card.


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## paperdetective

I cam only restate my previous ample experience with the national Sabadell, both from abroad and locally, and my local experience with every single local bank office in my area in Galicia and I am a EU citizen not Australian. )) 

They even showed me their computer screen where the requirements were listed. That would not be a local software program, I assume.

If there are some specific branches in Spain that can handle things differently, maybe it is time to conceive a list of those branches. Of course it will be a moving target as branches are just sow to catch up with laws here. Laws are changing here so rapidly now .

Pete


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## Pazcat

Thing is this is Spain, your experience may differ from others and often does. Just because one person had to do this, that and the other somewhere doesn't mean another will have to do the same.
Just look at the current mess with providing ID for the banks, no one can give you a standard answer because they all are asking for different things.

All I can say is we walked in to a Sabadell on a short visit with our passports and that is it. We used our Belgian address and phone number as contacts and that was that. They even sent the cards to us in Belgium.
Many people continue to be able to do the same.


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