Money Matters
There are two types of banks in Spain: a savings bank and a regular bank. Savings banks offer the same services as a regular bank but do not have shareholders — instead, they invest their profits in social, educational, scientific and cultural projects. To find one of these look for the sign outside saying Caja de ahorras.

To open either a savings or a current account with any bank in Spain you will need either your passport or an NIE.
There is very little form-filling, and most of this is done by the member of staff at the bank.
Typical banking hours are from Monday - Friday 08.30 - 13.30, although all major national banks and most regional banks now offer online banking, allowing you to make transactions 24 hours a day.

If you request a cheque book you will be able to pick collect it within about ten days from the branch at which you opened your account. Do not expect a new chequebook to be automatically sent to you as the number of cheques gets low — you must ask at the bank for a new one. It is wise to do this about two weeks before you think you may run out of cheques.

If you open a bank account as a non-resident interest rates will differ (in your favour). Currently interest rates on both cheque and savings accounts are quite low.

If you stay in Spain as a non-resident you will be asked every two years by the bank to fill in a form confirming you are still a non-resident.
Bank branches
Banking in Spain is almost a pleasurable experience — relaxed and efficient. Banks show a warmness towards their clients that you may not encounter in other countries, and you will find that after a few visits to your branch, the manager and staff will usually be greeting you by name.

Although the major national banks have branches in all cities and most towns, each region of Spain has its own banks with branches in almost every town within that region.

It is not difficult to change banks. You simply open an account with the new bank and, if you have direct debits, you show the last statement on which they appeared and these will automatically be taken over by your new bank. Then you close your account with the first bank.
Payment methods

Cheques
Spain is very much a cash and credit card society, with cheques rarely used. Many businesses will not accept cheques and will insist instead on cash or a credit card.

If you do write a cheque, use the same precautions against theft or misuse as you would in any country, filling in any blank spaces with a horizontal line. It is also best not to write cheques out to cash or the bearer (al Portador), although some businesspeople will ask you to do exactly that.

You may also cross the cheque with two parallel lines, thus ensuring it may only be deposited to the account of the person or business named.

You may send cheques through the post to pay a bill or to place an order for an item, but you certainly cannot use one at, for instance, a supermarket and most stores. Often one chequebook will last you for more than a year, you use them so rarely.
Credit cards
You will usually be issued with a credit card to match your cheque account. You should pick it up at the bank at the same time as your personalised chequebook is issued.

You will usually be issued with a credit card to match your cheque account.
The credit card, which may be a Mastercard or Visa, is used like any other credit card, but you can only spend or withdraw money up to the limit of what you have in your bank account.

Your PIN number will either be given to you in the usual sealed manner at the bank, or posted to you. The latter is less usual.

Many banks, both national and regional, offer a personalised credit card, allowing you to use a photo of your choice or to choose from a range offered by that bank.

If you wish you may use your existing UK credit cards and most cash machines (cajero automático) and stores will accept these, but it is a requirement in Spain that identification is shown with a credit card, be it your passport or your Spanish ID card (tarjeta de residencia).
Direct debits
Direct debits are often used to pay for utilities such as water, electricity and the telephone. There is no need When you enter into a contract with one of the abovementioned services, you must give your bank’s name and sort code, and from that date forward you are directly debited for these services.

This process also occurs with other regular payments such as your satellite television agreement, although services such as this may sometimes accept a credit card. The information will be entered onto the form and that card will be debited whenever a payment is due.

To stop a direct debit you need to visit your branch and tell them you wish to cancel. You should also write to the company concerned.
Cash
You do not have to visit your bank to obtain cash as, even in fairly small towns, you will always find at least one or two banks offering a 24-hour cash machine.
Bank Charges
Most Spanish banks will charge you a small sum for opening the account and all banks charge a small amount (15-25 euros per year) for maintenance.