Banks in Spain are normally open, Monday to Friday, from 8:00am to 2:30pm. Online banking and telephone banking are widely used. There is a very large network of automatic teller machines; Servired and 4-B offer the most terminals. Important: each of them charges a fee for withdrawing cash if the card does not belong to their network. Credit card payments are also very common. All major credit cards are accepted at most businesses, but payment by check is not commonly accepted.

Opening a current account

• If you are already a Spanish resident and you want to open a current account, all you need is your passport or your resident’s card.

• If you are not yet a resident, you can open an account with the non-resident certificate issued by the police or your consulate, certificate of census registration from the town council and your passport or identification card.

Bank transfers

Since 1 July 2003, all transfers in euros within the EU are considered domestic transactions, so the fees charged cannot exceed those charged between banks in Spain for the same amount, although there is an additional fee for SWIFT transfers. Any transfer or deposit from a foreign bank in an amount greater than €50,000 must be reported to the Bank of Spain.