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Digital banks in Spain

Find out what you need to know about online banks in Spain.

N26 Standard

N26 Standard logo

0 €

Monthly fee

  • Euro IBAN account
  • 0% foreign currency fees
  • Google Pay and Apple Pay
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Compare a range of digital banks in Spain

Mobile banking puts your finances at your fingertips 24/7. There's a host of challenger banks, digital-only banks and personal finance apps available now, designed to give you better, faster control of your cash.We've rounded up everything you need to know below.

Name Product Mobile view decorator DBS EN Monthly fee Card delivery Supported currencies
Revolut Standard
  • Monthly fee

    0 €

  • Card delivery

    Up to 9 working days

  • Supported currencies

    15

  • Mobile Payment

0 €
Up to 9 working days

15

No monthly fees, no currency conversion fees for up to €1.000, and access to a range of cryptocurrencies.
N26 Standard
  • Monthly fee

    0 €

  • Card delivery

    Up to 10 working days

  • Supported currencies

    1

  • Mobile Payment

0 €
Up to 10 working days

1

Benefit from free transfers, up to 3 withdrawals per month for free and no fees for card use or currency conversion.
Wirex Standard
Wirex Standard
  • Monthly fee

    0 €

  • Card delivery

    Up to 4 business days

  • Supported currencies

    12

  • Mobile Payment

0 €
Up to 4 business days

12

Get a Welcome Bonus of $15 USD in WXT when you sign up with Wirex through Finder.

Benefit from an array of digital payment features, including a free prepaid Wirex card and unlimited fee-free transfers at interbank rates - with zero monthly subscription fee.
Wise Multicurrency Account
Wise Multicurrency Account
  • Monthly fee

    0 €

  • Card delivery

    Up to 14 working days

  • Supported currencies

    22

  • Mobile Payment

0 €
Up to 14 working days

22

Wise (formerly TransferWise) is an international account for over 50 currencies, with instant, super-cheap money transfer, a card to spend in any currency, bank details to get paid in 30 different countries, and multi-currency direct debits.
VIALET Current Account
VIALET Current Account
  • Monthly fee

    0 €

  • Card delivery

    Up to 7 working days

  • Supported currencies

    1

  • Mobile Payment

0 €
Up to 7 working days

1

Manage your money with this IBAN account and spend in more than 200 countries worldwide, fee-free.
Vivid Standard
Vivid Standard
  • Monthly fee

    0 €

  • Card delivery

    4-5 days

  • Supported currencies

    1

  • Mobile Payment

0 €
4-5 days

1

A free bank account with fee-free payments and transfers globally. Enjoy up to 20 € cashback per month.
Revolut Plus
  • Monthly fee

    2.99 €

  • Card delivery

    Up to 9 working days

  • Supported currencies

    17

  • Mobile Payment

2.99 €
Up to 9 working days

17

Enjoy purchase, event ticket, and returns protection, plus other innovative features with this lower-priced subscription plan.
N26 Metal
  • Monthly fee

    16.90 €

  • Card delivery

    Up to 10 working days

  • Supported currencies

    1

  • Mobile Payment

16.90 €
Up to 10 working days

1

A premium account with a stainless steel metal card, no international fees, insurance, and more.
Wirex Premium
Wirex Premium
  • Monthly fee

    9.99 €

  • Card delivery

    Up to 4 business days

  • Supported currencies

    12

  • Mobile Payment

9.99 €
Up to 4 business days

12

Get a Welcome Bonus of $15 USD in WXT when you sign up with Wirex through Finder.

Enjoy revolutionary digital payment features on-the-go, plus exclusive merchant deals and higher rewards when you spend on your Wirex card.
N26 You
  • Monthly fee

    9.90 €

  • Card delivery

    Up to 10 working days

  • Supported currencies

    1

  • Mobile Payment

9.90 €
Up to 10 working days

1

IBAN account with no currency conversion fees, complimentary insurances, and no ATM fees.
Monese Starter
  • Monthly fee

    0 €

  • Card delivery

    Up to 14 working days

  • Supported currencies

    2

  • Mobile Payment

0 €
Up to 14 working days

2

With the code FINDER 22 you will receive 10 euros when you top up your Monese account.

Dual currency account with no foreign currency fees for up to , and includes budgeting tools.
Vivid Prime
Vivid Prime
  • Monthly fee

    9.90 €

  • Card delivery

    4-5 days

  • Supported currencies

    1

  • Mobile Payment

9.90 €
4-5 days

1

A premium bank account with maximised cashback rewards on everyday spending online and in store, including up to 150 € cashback per month.
Revolut Premium
  • Monthly fee

    7.99 €

  • Card delivery

    Up to 3 working days

  • Supported currencies

    15

  • Mobile Payment

7.99 €
Up to 3 working days

15

A Euro IBAN account that includes unlimited free currency conversions and international transfers in more than 30 currencies.
N26 Smart
  • Monthly fee

    4.90 €

  • Card delivery

    Up to 10 working days

  • Supported currencies

    1

  • Mobile Payment

4.90 €
Up to 10 working days

1

A mid-tier, premium subscription plan that comes with a range of essential money management features to help you better manage your finances.
Monese Classic
  • Monthly fee

    5.95 €

  • Card delivery

    Up to 14 working days

  • Supported currencies

    3

  • Mobile Payment

5.95 €
Up to 14 working days

3

With the code FINDER 22 you will receive 10 euros when you top up your Monese account.

Dual currency card with no foreign currency fees for up to Unlimited and foreign transfers in multiple currencies.
Wirex Elite
Wirex Elite
  • Monthly fee

    29.99 €

  • Card delivery

    Up to 4 business days

  • Supported currencies

    12

  • Mobile Payment

29.99 €
Up to 4 business days

12

Get a Welcome Bonus of $15 USD in WXT when you sign up with Wirex through Finder.

Access supercharged rewards and curated merchant offers in addition to standard Wirex digital payment features and travel card.
Revolut Metal
  • Monthly fee

    13.99 €

  • Card delivery

    Up to 3 working days

  • Supported currencies

    15

  • Mobile Payment

13.99 €
Up to 3 working days

15

Premium account with an exclusive Metal card featuring insurances, cash refund, concierge service, cryptocurrencies, and more.
Nuri
  • Monthly fee

    0 €

  • Card delivery

    Up to 14 days

  • Supported currencies

    1

  • Mobile Payment

0 €
Up to 14 days

1

Invest in cryptocurrencies and enjoy up to 5% interest per year on Bitcoin deposits with this digital bank account
Monese Premium
  • Monthly fee

    14.95 €

  • Card delivery

    Up to 14 working days

  • Supported currencies

    3

  • Mobile Payment

14.95 €
Up to 14 working days

3

With the code FINDER22 you will receive 10 euros when you top up your Monese account.

A premium card with no fee for international payments, no foreign currency fees, and unlimited ATM withdrawals at home and abroad.
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Compare up to 4 providers

What is digital banking?

Digital banking, also called mobile banking, is a way to control your money, usually through a smartphone app or web app. It allows you to log into your account anywhere with Internet access, giving you constant visibility of your money and helping you understand the best way to manage it.

These banks tend to have fewer fees than traditional Spanish banks and also offer other useful features such as budgeting tools, smart money tracking and low-cost travel and money transfers.

Why should I use a digital bank account in Spain?

There are several advantages to using an online bank:

  • Banking access in your pocket. Your entire bank account is built to live on your smartphone. You can send money, budget and save all within the digital bank app.
  • Fast sign-up. You can usually open an app-based account within minutes. You’ll need to reside in Spain and provide proof of identity (a passport or driver’s licence will do).
  • Fast and cheap international transfers and spending. A big advantage of app-based banks is they often have no fees for foreign currency transactions. This will help you save when online shopping from a site abroad when you’re travelling and sending money across the border.
  • 24/7 support. If you need help you don’t need to visit a bank branch to get it. Just jump onto online support in your app.
  • Instant spending notifications. Know how much you’ve spent as you’re spending. Many apps tell you the time, place, location and amount of your transactions to help you keep track. You can also get notifications for your balance and other useful need-to-knows.
  • Spending and saving features. Digital bank apps offer useful budget tracking features and tools designed to get you in control of your money. This includes automatically dividing your spending into categories, making sure you have enough money to pay bills and help you save for your goals.
  • Automatic savings. Some apps can look at your spending habits and income and identify how much you can reasonably save each month, then help you to set up a direct debit to a savings account for this amount.

Are there any disadvantages to an online account?

If you’re planning to open a current account online in Spain, it’s important to be aware that there may be certain features which aren’t available to you. Many digital banks don’t offer mortgages or business accounts. By not being able to bundle together such financial products with your current account, you could miss out on lower rates of interest in the future. Be sure to check if there are any account restrictions, such as how many ATM withdrawals you can make a month. Cheque facilities are not usually offered with these types of accounts.

When comparing online bank accounts, be aware that your money might not have the same protection as it would with a traditional bank in Spain. That’s because not every digital bank is licenced in the same way. A good starting point could be to check if a bank has been granted a European banking licence. If you’re unsure, look for information on the bank’s website or ask the bank directly about how your money will be protected.

6 things to know about online banks

Here are a few things that you may not know about using your mobile as your main point of contact with your bank:

1. There are fewer fees

Banks in Spain charge certain account management and transaction fees for current accounts. You’ll usually be charged annual fees of between €15-20 a year, fees for ATM withdrawals and fees for debit and credit cards. There are sometimes ways to avoid these fees, such as maintaining a minimum balance in your account or lodging above a certain amount each month, but the fees may still be quite high.

Digital banks charge far fewer fees. You will find that most will come with a “free” account option that charges €0 per month. Then, if you want to unlock more features you can pay a monthly fee. There are sometimes ATM fees but you will not pay fees for card transactions and there are no annual fees. You can also avoid some of the smaller charges by switching to a paid account.

2. Cash and cheques usually aren’t supported

Unlike traditional banks, digital banks in Spain usually have a limit on how many ATM withdrawals you can make a month. The number of free withdrawals will vary depending on the level of the account. Expect more free withdrawals with the top level accounts. Digital banks also tend not to offer cheque facilities. With prepaid cards, you have to load your account digitally through a bank transfer.

3. Managing multiple currencies is easier

Digital banks tend to have better services in terms of foreign currency. Some let you hold multiple currencies in your account while others let you make international transfers faster and more cheaply than standard banks. No foreign currency fees also let you shop from websites abroad without paying too much for your purchase.

4. Your money may not be protected the same way it is with traditional banks

Not every digital bank is licenced in the same way. Revolut now operates as a fully licenced bank. Your funds will also be protected by the Lithuanian State Company “Deposit and Investment Insurance” up to €100,000. N26 holds a German banking licence, which means consumer deposits up to €100,000 are protected. Similarly, bunq is a fully licenced EU bank and money is covered by the Dutch National Bank guarantee scheme up to €100,000. Monese, however, does not have a banking licence. It operates as an e-money institution.

5. Everything is managed on your smartphone

Signing up to a digital bank in Spain means downloading an app and verifying your identity. You can usually start spending before your physical card arrives, too, thanks to Google Pay and Apple Pay. Keep in mind you also will not get access to Internet banking on your computer with most digital banks.

6. There are great security features

A benefit of an app-based bank is having full access to your account at all times through your digital banking smartphone app. Lots of digital banks allow temporary freezing of your account if you lose your card, so if you find it again it’s not as much hassle to get a replacement. If you forget your pin, digital banks also have access to a pin reminder after you complete a couple of security questions.

If you lose your phone or it’s stolen, you will still be able to secure your account. Just contact the digital bank (contact details will be on the website) and your account will be able to be locked from your smartphone. If you get your phone back, the bank will be able to set access back up again. If not, you can set up your app on your new phone.

What digital banks are available in Spain?

There are a number of mobile banks available in Spain. These include:

  • Revolut. Revolut is a global banking app that offers budgeting tools, international currency exchange, travel insurance, cryptocurrency facilities, virtual cards and more.
  • N26. This digital bank account lets you save and budget. Using N26 you can transfer money to other N26 users, take advantage of optional travel insurance and benefit from cashback.
  • imaginBank. imaginBank is a smart current account with a number of innovative features. Not only can you spend easily with no ongoing fees, you can also take advantage of discounts and enjoy culture and tech in imaginCafe on the app.
  • Bnext. Bnext is a combination of a credit, debit, and prepaid card that comes with no account management fees or opening fees.
  • EVO Banco. The EVO Banco account is ideal for those who do not want to pay commissions, need two accounts in one (checking and savings), are looking for a card that works as both debit and credit, and want to make cash deposits.
  • Rebellion Pay. It is an account and prepaid card with which you can buy online or in physical stores, make and receive transfers and withdraw money in Spain or abroad. Also, with Rebellion Pay you do everything from its app and receive immediate notifications.
  • bunq. A bank account designed for global citizens, bunq’s account lets you create up to 25 sub-accounts with unique IBANs. You can also benefit from savings and budgeting tools, money transfers through Transferwise and no foreign exchange fees.
  • Monese. With Monese, you’re able to open a current account with no proof of address required. You can use the account to receive real-time spending notifications and make ATM withdrawals and foreign currency transfers up to a certain limit.

How to get started with a digital bank

You can sign up with a Spanish digital bank by downloading your chosen bank’s app onto your smartphone. You will need a few of your personal details to sign up, including your full name, date of birth, address and email address. You will need to confirm your identity and may need to deposit funds into your account to make it active. Then, your bank account will be created.

The bottom line

Digital bank accounts come with a number of useful features that can suit anyone banking in Spain. If you’re looking for budgeting tools, a cheap way to access multiple currencies or a bank account to buy and manage cryptocurrencies, then you may want to consider a digital bank. Make sure you compare digital banks so you can find the right one for you.

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