Banks & Finance in Mallorca
There are 21 banks listed on mallorca.com, rated 2.8★ on average. A Spanish bank account is practically essential for residents and property buyers. Main banks: CaixaBank, BBVA, Santander, Sabadell. You need a passport and NIE to open an account. Mortgages are available from around 2-4% interest. Find your bank on mallorca.com.
21 businesses found
Frequently Asked Questions
Which bank is recommended in Mallorca?
CaixaBank has the densest branch network. BBVA and Santander offer good online services. Sabadell has a strong Balearic presence. For expats, Openbank and N26 are popular fee-free online alternatives.
How do I open a bank account in Mallorca?
You need your passport/ID and an NIE (Número de Identificación de Extranjero). Some banks also accept a residency certificate. Opening takes about 30-60 minutes at the branch. Online banks like N26 also accept EU documents.
Do Spanish banks charge account fees?
Yes, most Spanish banks charge monthly account fees of €3-10. Some waive fees with direct salary deposits or a minimum balance. Online banks like Openbank and N26 are often fee-free.
Can foreigners open a bank account in Mallorca?
Yes, as an EU citizen you can easily open a bank account in Mallorca. You need your passport, NIE number, and proof of address (rental contract or utility bill). The account opening takes about 1-2 weeks. Popular banks for expats are CaixaBank, BBVA, and Sabadell. Some offer English-language service. Account fees range from €0-10 per month.
How do I get an NIE number in Mallorca?
You apply for an NIE (Número de Identidad de Extranjero) at the Policía Nacional in Palma or at the foreigners' office (Oficina de Extranjeros). You need: passport (original + copy), completed form EX-15, proof of reason (e.g., property purchase), and the fee of around €12. An appointment (cita previa) is required and can be booked online via sede.administracionespublicas.gob.es.