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Banking in Spain

Spain has a contemporary banking and financial industry. It has the largest number of banks in the European Union. Many of the international banks, accountants and insurance companies can be found there too.

There are two types of bank accounts for aliens: non-resident and resident. To set up a bank account, you will be required to provide the following documentation (For both residence and non-residence):

Form of ID (passport)

Then, depending on the account you are opening, residence will have to submit their residency permit, whereas non-residence will have to provide their Certificado de No Residencia or non-residence permit

If you use a foreign currency to make the initial deposit, it is recommended that you ask that it is instantly converted into Euros. Precedent implies that it may prove problematic later.

Cash machines are widely available and internet banking is gaining in popularity.

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