August is one of the months in which we tend to review those topics that we don't have time to do during the rest of the year. And one of those topics is usually comparing the best online banks in Spain.
If you're thinking about changing your account, whatever the reason, and you've been researching the best banks in Spain, then pay attention to what we've discovered.
Online banks in Spain
If you are looking for a bank, you will surely have a series of requirements that your account must meet. As in this case, you are looking for online banks in Spain, One of them is the possibility of operating it remotely. But the truth is that they are not the most used for that very reason.
The first thing you should know is that there is a difference between a traditional bank in Spain and an online one. The latter are called neobanks and are characterized by a completely digital experience. In other words, everything is done online. To do this, you have not only a website, but also a mobile application.
Thus, the best online banks in Spain are the following:
N26
N26 is one of the oldest neobanks, having been founded in 2013. At first, focused on Germany's fintech audience, But after its success, it began to spread to other countries and is now a worldwide option.
One of its features is the possibility of having money available in more than one country, having a Spanish IBAN and other extra features, such as scheduled payments, establishing savings rules or shared spaces.
To register for an account with this bank you can do it in less than 10 minutes. However, Have your cell phone handy because they will need to verify your account.
With it you will have real-time notifications, cards with no maintenance fees, free transfers to Europe and the possibility of activating the remunerated account.
BBVA
Yes, we know that it is more of a traditional bank than anything else, but one of the products it offers is a commission-free online account, so it could be included among the banks in Spain.
Among the features of the account is the being able to pay abroad without incurring commissions, being able to withdraw cash from ATMs around the world, having Bizum, being able to make free transfers within the European Union, or even creating a second account that you can use to save or control expenses.
If you want a bank that is solid, even if it is not a neobank, it can be a good option for the more classic ones.
open bank
We continue with the best online banks in Spain to present this one to you. In fact, the OpenBank welcome savings account is one of the most appreciated for the fact that it has no fees and you can use it as an online savings account.
What's more, the first year will give you, among many options, the opportunity to have high profitability. After that time, profitability drops considerably.
You are not required to have a direct deposit of a payroll, bills or a minimum balance. You will be given a free debit card and you can pay by card, with your own card or even with Bizum.
However, this account is only for new customers.
EVO Bank
We continue with more online banks with this one, one of the most popular right now. EVO Banco is characterized by having no fees or conditions, which makes opening an account very easy since there are no requirements to meet.
The advantages, as we tell you, are the fact that there are no commissions, that you can Open an account online in just 10 minutes and you can count on some free services. For example, you have free instant transfers, smart cards and ATMs where you can withdraw money for free, both in Spain and abroad.
Also, if you are one of those who uses Bizum, you will also have it here.
Online account of Banco Santander
Banco Santander is well-known in Spain, so it needs no introduction. However, you may be interested in opening an online account with it, which has no fees or conditions.
The account can be opened without any problem online in a matter of minutes and They will not ask you for a payroll or receipts to be able to have it. Yes, they give it to you as a suggestion, but it is not something that you must do.
In addition, you have a free debit card, with no issuance or maintenance required, and Bizum.
B100
You may not recognize it by that name, but the truth is that B100 is related to Abanca because it is its new online bank. Within this you can find the B100 account, which is the most requested product. And what features does it have? To start with, you will not suffer from commissions. In addition, It is 100% mobile so you can use it to open or manage your account.
As for the requirements, you are not asked to bring your pay slip or receipts. SEPA transfers are free. And the debit card is free with no commission when changing currency.
Of course, it also has Bizum.
Imagine
Another bank you might be interested in is Imagin, specifically the current account they have. This allows you, without having to transfer your payroll or bills, to have an account with no maintenance fees, free SEPA transfers, a free debit card, Bizum. And the possibility of creating your account and managing it from the mobile app itself.
ING
When ING started out in Spain, everyone was reluctant to open an account there because it had no offices to go to and everything was done by phone or online. So we could say that it was a pioneer.
Now, its flagship product is the NoCuenta Account, which is characterized by have no conditions or commissions. It offers a free virtual debit card, anti-fraud protection, free cash withdrawals at ING ATMs, and also the option of online payments with Bizum or a debit card.
As you can see, there are many online banks and brick-and-mortar banks that now offer online accounts with better features than the ones you can have. You just have to check their conditions carefully to find out which one could be most beneficial for you. Can you recommend any more?