What is the best bank in Spain for foreigners: tips for students?

Living in Europe as a student brings with it many changes, especially for young people and foreigners. Among all those things that must be done by those who decide to come to Iberian territory is to get the best bank in Spain for foreign students.

Surely you have read in our publications some of the requirements that the Government Spanish demands for those who decide to study academically in the more than 80 institutions that offer university and postgraduate degrees. One of the most important is to demonstrate that you have the financial resources to support yourself during your stay in the country.

Some of the young foreigners who have gone through the visa and Foreigner Identity Card (TIE) process claim that the approximate monthly amount a student must have in Spain to comply with the regulations is around 600 euros.

Once you are settled in the country, you should think about choosing the best bank in Spain for foreign students. We will give you some recommendations that will surely help you to manage your finances.

Best banks in Spain for foreign students

Traditional banks tend to have a lot of requirements when opening a savings account. For that reason, some young people, and not so young, opt for institutions that do not require a lot of documentation.

Below you will find a list of banks that do not charge large service fees and provide their users with debit cards for domestic use. Do you want to know which ones?

• Clara Abanca
• Ibercaja Youth
• Young Evo Banco
• Sabadell Expansion
• Young Bankia

Clara Abanca

It is designed for young people who usually make transfers and receive checks. All these transactions are free of charge, as well as the use of ATMs at least five times a month. Transactions are guaranteed by Euro 6000, Banco Sabadell and Bankia. In addition, you can also handle it abroad. It can only be applied for by people no older than 34 years old.

Ibercaja Youth

In the search for the best bank in Spain for foreign students we came across this practical, but very simple account for young people. If you are between 18 and 25 years old, then this option is for you. You can even enjoy other banking benefits. Three times a month you will be able to withdraw money at ATMs on Spanish.

Young Evo Banco

If you are between 18 and 25 years old, you can be one of those who enjoy this ideal account for students in Spain. You will enjoy it until you are 30 years old or older. Only at that age you will no longer be able to enjoy a debit card without surcharge. It is covered by Euro 6000, so twice a month you can withdraw from their ATMs free of charge. In addition, you can do it anywhere in the world. Transfers are also free.

Sabadell Expansion

If you want an account without commissions, with a debit card and that looks more like a regular account, then this one is perfect for you. Not only will it allow you to make transactions at no cost, it will also allow you to withdraw 60 euros without commission at Euro 6000 and Bankia. Of course, when you reach 25 years of age you will have to deposit your salary.

Young Bankia

It is not only for young people, teenagers can also have their first bank account with Bankia. There are no commissions and you also get a debit card. It also gives you a return for every 300 euros. From the age of 14 and up to 25 you can apply for this account.

As you will see, there are many options to start mobilizing your finances. It is up to you to choose the best bank in Spain for foreign students. Training on Iberian soil has never been so easy.