A Spanish bank account is essential for life in Mallorca. Rent, utilities, internet – everything is paid by direct debit (domiciliación bancaria).
Which bank?
- CaixaBank: Largest Spanish bank, many branches in Mallorca
- BBVA: Good online banking, some English service
- Banco Sabadell: Strong in the Balearics
- Bankinter: Good for international clients
- Deutsche Bank Spain: German-speaking service
What do you need?
- NIE number (mandatory)
- Passport or ID
- Empadronamiento (not always required but often requested)
- Proof of income
Account fees
Spanish banks often charge monthly fees (5-15 euros). Tips to avoid them: show regular salary deposits, use online accounts, or be under 30.
Online banks as alternatives
- N26: Works in Spain, German IBAN
- Wise: Multi-currency account, great for transfers
- Revolut: Free account, good exchange rates
Note: For direct debits, a Spanish IBAN is often required.
More: Taxes in Mallorca
Back to moving to Mallorca guide.
Leave a Reply