Bank Fees and Transfers in Spain
Understand the costs associated with your bank account and how to send and receive money efficiently.
Common Bank Fees in Spain
Banks in Spain charge fees for various services. It's essential to be informed about your bank's tariffs to avoid surprises, especially with non-resident accounts, which often have fewer waivers.
Account Maintenance
A periodic fee (monthly, quarterly) for keeping the account open. Often waived for residents with tied products (payroll, bills), which is less common for non-residents.
Cards
Fees for issuing and renewing debit/credit cards. Charges also apply for ATM withdrawals at other networks or abroad.
Overdrafts
Interest and fees for having a negative balance ("números rojos"). These are typically quite high.
Types of Bank Transfers
Knowing the difference between transfer types is key to saving time and money.
SEPA Transfers
For sending Euros (€) within the Single Euro Payments Area (EU, EEA, Switzerland, etc.). They are fast and cheap (often free online). You only need the recipient's IBAN.
International (SWIFT) Transfers
For sending money to countries outside the SEPA zone or in other currencies. They are slower and more expensive, with potential fees from intermediary banks. You will need the recipient's SWIFT/BIC code.
Tip: For SWIFT transfers, consider alternative services like Wise, Revolut, or similar platforms. They often offer better exchange rates and lower fees than traditional banks.
Questions About Your Bank Fees?
We can help you understand your bank's fee statements and find the most efficient options to manage your money in Spain.
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