Spanish Banking: Why to Go Online and Where to Go

Spanish Banking: Why to Go Online and Where to Go

Spanish banking

Bacelona skyline


When you arrive in a new country you need to choose your bank. So here is some advice and information about spanish banking!


Spanish Banking: the new trend

The most recent trend in Spain is online “discount” banks. You pay almost nothing and get almost no personal service in return. This dynamic is immediately obvious on entering the ING Direct offices In fact, the majority of workers are young and with little to no bank-specific education. Their main purpose for the customer is more accurately described as an “Online IT Helper” than anything else. It is the “Vueling” of the banking world: everything looks cheap and plasticky because it is. But the customers know what they are getting. So why would you use a cheap online bank?

Cheap Loans

Getting a loan from an online bank can be tricky. You have to fight through various layers of administration before you can finally talk to a person face-to-face. However, if you do manage to complete this arduous task, the loan you eventually get will be considerably cheaper than that offered by traditional Spanish banks.


We use ING Direct because they charge a maximum of €60 per cheque, and you even get an extra one free per month. By contrast, traditional banks can charge between €300 and €3000 per cheque and are known to be particularly expensive for non-residents.

Free International Transfers

ING Direct also has the huge benefit of offering free international money transfers. Given that one of our clients was recently charged €2000 to receive some money from Denmark, the usefulness of this feature is apparent and cannot be understated.

Great Phone Service

If you call ING Direct, you will get a very fast response. This is thanks to the fact that their staff are not employed primarily as bankers. In fact, their role is only to help customers with any difficulty they might have. As such, the person on the other end of the line will be friendly and helpful. They will not try to get you of the phone so they can get back to something else.


Now you have all information about Spanish Banking. If you need more information you can check our website!