Bank account in Spain: opening, funding, account unblocking

Due to the tightening of anti–money laundering policies and banking regulations, opening a bank account in Spain as a non-resident is becoming increasingly challenging. For foreigners, success in opening an account in Spain largely depends on the flexibility of the specific branch.

For over 8 years, we have been working with reliable banks and helping our clients open bank accounts in Spain without complications.

Consultation, assistance with document preparation, arrangement of sworn translations, and accompaniment to the bank to sign the current account agreement. Sworn translations are paid separately.

• Who it’s for: residents and non-residents of Spain. Separate solutions — by power of attorney and remotely.
• What we do: account opening, support with funding (cash/bank transfer), annual client KYC review, unblocking and closing of accounts.
• Cities: Torrevieja; Valencia, Alicante, Benidorm, Madrid; remote cases — on request.
• Prices (2025): see the detailed price list below.
• Risks of doing it yourself: passing AML/KYC, limits on top-ups and transfers, unproven source of funds, non-compliant document package, cash deposits without proper paperwork.

Who especially needs this

Clients from countries subject to enhanced AML checks, when funds need to be deposited.

Support formats

• In person — presence at the branch, package preparation, accompaniment to the bank to open the account and subsequent actions (account funding, data updates, etc.).
• Remotely by power of attorney — power-of-attorney authorization at the bank, further visits as needed depending on the service selected by the client.

Time frames by stage

Banking service price list — 2025

Torrevieja

Valencia, Alicante, Benidorm, Madrid

Bank fees, interbank transfers, account maintenance and currency conversions — paid separately according to the bank’s tariffs. Sworn translations/notary services may be involved if necessary.

Basic document package for the bank

Typical blocks and compliance requirements — how to avoid them

• No proof of source of funds — we prepare the evidence base in advance.
• Address/data mismatch — we check forms and documents before the visit.
• Large amounts credited to the account without prior notice — we coordinate limits and the funding format.
• Overdue KYC — we set reminders and perform the annual update.

Banking services in Spain: what’s included

1. Account opening — with personal presence or by power of attorney.
2. Funds placement — support for topping up accounts in cash and via bank transfers, with source-of-funds documentation.
3. Account unblocking/closure — communication with the bank, preparation of explanations and document package.
4. Annual KYC update/review of client data — keeping data current and preventing blocks.
5. Mortgage — assistance with obtaining a mortgage from a Spanish bank/financial company.

How we work with banks: step by step

1. Brief — residency status, country of tax residency, account purposes, planned incoming/outgoing transactions.
2. Client prepares the document package — KYC/AML forms, proof of address, proof of income, translations/apostille if needed.
3. Opening — in person / remotely by power of attorney.
4. Funding — we agree on limits and the channel: cash desk, SWIFT/SEPA, transfers; we accompany cash deposits.
5. KYC update — annual data refresh, responses to the bank’s requests.
6. Unblocking/closure — upon the bank’s requests we prepare explanations and close the account if necessary.