Before you start

Valid passport or EU/EEA national ID card
A NIE for a standard resident account (or a certificado de no residencia for a non-resident account)
Proof of a Madrid address — empadronamiento, rental contract or a utility bill — for a resident account
Often proof of your professional situation (employment contract or recent payslip)

Step-by-step

1
Day one: open an EU fintech account for an instant Spanish IBAN
Download N26 or Revolut and complete in-app video verification to get a Spanish ES-prefixed IBAN within minutes — no NIE or branch visit needed. This covers receiving your salary, paying rent and setting up most direct debits while your NIE and empadronamiento are still pending. Flexibility on ID varies: some report N26 now wants a NIE and Spanish address, while a passport often still works for Revolut.
Mobile appWho: You, from your phone (works before you even arrive)Same day, often under 30 minutesFree standard tier
2
If you have no NIE yet: open a non-resident account at a traditional bank
Banks such as BBVA, CaixaBank, Santander or Sabadell open a 'cuenta de no residente' against your passport plus a certificado de no residencia from the Dirección General de la Policía (or a Spanish consulate abroad). Without this certificate or a NIE, the bank cannot assign the tax ID its system requires. Santander's 'Cuenta Online con pasaporte' skips the certificate but is restricted to a fixed list of eligible countries.
In personWho: You, at a branch (some flows start online)Certificate ~10 days; account same day once you have itCertificate fee plus account maintenance, commonly €40-120/year
3
Get your NIE and register your address (empadronamiento)
Apply for the NIE and register at your local Madrid ayuntamiento to get the certificado de empadronamiento. These two documents unlock a standard resident account, which is cheaper and avoids the recurring non-resident-certificate fee. The empadronamiento is free and usually issued within a day or two of your appointment.
In personWho: You, at the Oficina de Extranjería / police and your local Junta MunicipalDays to a few weeks depending on appointment availabilityNIE tasa modelo 790 ~€9-10; empadronamiento free
4
Open (or convert to) a resident account and move your direct debits
With NIE plus empadronamiento, open a resident account — for example a 'Cuenta Online sin comisiones' that waives fees if you set up payroll. Then migrate your salary and domiciliaciones (rent, utilities, gym) onto the account you intend to keep. Confirm the AEAT recognises your IBAN for tax direct debits before relying on a fintech for that.
OnlineWho: YouSame day to open; allow days for direct-debit switchesOften €0/month with payroll; otherwise a monthly maintenance fee

Documents you’ll need

Passport or EU/EEA national ID card
NIE (for a resident account) or certificado de no residencia (for a non-resident account)
Proof of Madrid address — certificado de empadronamiento, rental contract or utility bill
Proof of professional situation — employment contract or recent payslip (often requested)

Things most newcomers don’t know

An EU fintech with a Spanish ES IBAN is the standard day-one workaround, not a compromise.

N26 and Revolut now issue ES-prefixed IBANs identical in format to Santander or CaixaBank, so Spanish employers and landlords accept them. You can be paid and pay rent before your NIE exists.

Source: spainguru / how2spanish (2025)

Insist on a 'resident' account the moment you have your NIE — the 'non-resident' label costs you money.

Non-resident accounts carry higher maintenance fees and force a paid certificado-de-no-residencia renewal about every two years. The certificate is purely a function of not yet having your NIE and empadronamiento on file.

Source: BBVA / CaixaBank guides

The old 'fintechs can't pay your Spanish taxes' rule has largely softened — but verify your IBAN first.

Since March 2025 Revolut is an AEAT Collaborating Entity, and N26 with an ES IBAN works for AEAT. The remaining trap is a legacy non-ES IBAN: AEAT can't do a direct debit (domiciliación) to it, so you'd have to pay by manual transfer.

Source: elEconomista / N26 support (2025)

EU/EEA nationals can often skip the certificate dance entirely with ID + empadronamiento.

With an EU national ID card and an empadronamiento, several banks open a basic resident-style account without demanding a separate non-resident certificate, because the local registration already evidences a Spanish address.

Source: HousingAnywhere / how2spanish

Common mistakes to avoid

Proof-of-address catch-22: a resident account wants empadronamiento, but registering and getting your NIE can lag behind your arrival — bridge the gap with a fintech rather than waiting.
Opening a non-resident account by default and never converting it, then quietly paying maintenance fees plus a certificate-renewal charge every couple of years.
Assuming any ES IBAN is fully interchangeable: a few landlords/utilities still prefer a traditional Spanish bank, and legacy non-ES fintech IBANs can be rejected for tax domiciliación.
Santander's passport-only online account looks like the easy route but is restricted to a fixed list of eligible countries — check yours qualifies first.