The verdict: which Spanish bank wins for expats?
ExpatMoneyEU verdict
Ask an expat forum which Spanish bank to join and these two names come up in almost every answer: Banco Sabadell, the estate agents' favourite for foreign buyers, and CaixaBank, Spain's largest retail bank by branch count. Both are Spanish-licensed with ES IBANs and English apps — but the price and experience differ sharply once you read the tariff. This guide compares monthly fees, the exact conditions behind "free" accounts, English support, NIE-less opening, branches and Bizum. All figures are illustrative — confirm the tariff with the bank before applying.
→ How to open a bank account in Spain as an expat — the 2026 step-by-step guide
Head-to-head comparison table
| Criterion | Banco Sabadell | CaixaBank |
|---|---|---|
| Flagship resident account | Sabadell Online Account | Día a Día |
| Monthly fee | €0 | €0 if conditions met, else €60/quarter (€20/mo) |
| Conditions to stay free | None — no salary, no bills, no minimum term | Salary ≥€600/mo (or equivalents) + 3 card payments or 3 bills per quarter; or €20,000 balance |
| Interest / cashback | 2% interest on balances up to €20,000; 3% cashback on direct-debited gas & electricity bills | Not remunerated |
| Debit/credit card | First card free (issuance & maintenance) | Included in the Día a Día bundle |
| IBAN | Spanish (ES) | Spanish (ES) |
| Branch network | Large, strongest on the Costas and in Catalonia | Largest in Spain (4,000+ branches) |
| English app & online banking | Full English app | CaixaBankNow app in 20+ languages |
| English branch staff | Multilingual staff in international/coastal branches | HolaBank: 500 multilingual advisers, 350+ international branches |
| Open without a NIE | Key Account: yes — passport + proof of address + home-country TIN | Non-resident routes available (HolaBank onboarding) |
| Expat/non-resident product | Key Account (in-branch, first card free, translation service) | HolaBank (multilingual managers, 24/7 support in 5 languages, translation services) |
| ATM withdrawals | Free at Sabadell ATMs; €60+ free at EURO 6000 network ATMs | Free at CaixaBank ATMs on debit |
| Bizum | Full support, free | Full support |
| Deposit protection | €100,000 (Fondo de Garantía de Depósitos) | €100,000 (Fondo de Garantía de Depósitos) |
Fees from October 2026 official sources and expat comparisons — illustrative only. Verify the current price list before applying.
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→ Best bank accounts in Spain for expats — the scored October 2026 comparison
How we compared: the methodology
How we compared
Fees and features checked: both banks' official English tariff pages plus October 2026 expat banking comparisons. Criteria: monthly cost on flagship accounts, the exact €0 conditions, NIE-less and non-resident onboarding, English service, branch/ATM network, Bizum and deposit protection. All fee figures are illustrative — verify the tariff before applying. Educational content, not financial advice.
We re-check fees against provider price lists each time a provider changes its pricing — comparisons are updated, never backdated.
→ Spanish banks with English support for expats — October 2026 guide
Banco Sabadell in detail: the fee-free contender
Banco Sabadell
Sabadell's standout product is the Sabadell Online Account (launched 2026): no management or maintenance fees and no conditions at all — no salary, no bills, no minimum term. It then pays you: 2% interest on balances up to €20,000 and 3% cashback on direct-debited gas and electricity bills with no cap. The first card is free, Bizum is free, EEA transfers including instant ones are free, and the app is fully in English. (Source: Banco Sabadell's official account terms.)
For newcomers without paperwork, the Key Account is the non-resident route: officially no NIE is required — just a passport, proof of address, home-country tax ID and (sometimes) a non-residence certificate, opened in-branch where a manager who speaks your language handles onboarding. It includes a free translation service (10 texts of up to 500 words per year), a free first debit/credit card, free non-immediate EEA transfers, and free withdrawals at Sabadell ATMs (€60+ also free at EURO 6000 ATMs). Third-party comparisons list it around €40/quarter with the first 12 months free for accounts opened by 31 December 2026 — illustrative; confirm in-branch.
→ Best bank account for Pakistanis in Spain — October 2026 guide
CaixaBank in detail: the network and the expat machine
CaixaBank
CaixaBank's scale is its argument: 4,000+ branches — more than any other Spanish bank — so there is almost certainly one near you. Its flagship Día a Día account bundles everyday banking, but €0 requires two conditions together: salary €600+/month (or pension €300+, or recurring income €750+/month / €9,000/year) direct deposited, plus three card payments or three direct-debit bills per quarter (or self-employed tax direct debited). Miss them and the fee is €60 per quarter (€240/year). Also free with €20,000+ across CaixaBank products; branch operations you could have done via an ATM or the app cost €2 each. (Source: CaixaBank's official Día a Día terms.)
For expats, CaixaBank runs HolaBank — a dedicated international-customer programme with 500 multilingual advisers, 350+ branches in tourist and expat areas, 24/7 telephone support in five languages, translation services and relocation help such as utility setup. In 2025 it added HolaBankConnecta remote centres in Málaga and Alicante for video-call access to your manager. The CaixaBankNow app works in 20+ languages. Third-party comparisons list HolaBank's account around €35/quarter (≈€11.67/month) — illustrative; confirm current pricing.
→ Best bank account for Indians in Spain — October 2026 guide
Which bank fits which expat?
- Salaried employee (€600+/month paid in). Either works. CaixaBank's Día a Día stays €0 while the salary plus three card payments (or three bills) per quarter are met; Sabadell is €0 with no conditions and pays 2% on your balance.
- Freelancer / autónomo without steady payroll. Sabadell. Día a Día's €600/month salary rule plus quarterly activity is hard to guarantee on variable income — miss it and you pay €20/month. Sabadell's zero conditions fit it exactly.
- New arrival with no NIE yet. Sabadell's Key Account officially needs no NIE (passport, proof of address, home-country TIN). CaixaBank offers non-resident onboarding through HolaBank, including digital onboarding from eligible countries. Call the branch first — manager discretion is real in Spain.
- Retiree or in-person-service fan. CaixaBank — Spain's largest branch network plus HolaBank's advisers and 24/7 five-language support is the most reassuring package.
- Property buyer visiting a few times a year. CaixaBank for a branch near the property anywhere in Spain; Sabadell for its international-client departments on the costas and the translation service for purchase paperwork.
- Digital-first expat or student. Sabadell — €0 unconditionally, 2% on balances and 3% energy cashback; no salary rule means no stress during job searches or unpaid internships.
→ Best bank account for Nigerians in Spain — October 2026 guide
Fees: what a year actually costs (illustrative)
Worked first-year costs for typical expat profiles — all figures illustrative. Verify the tariff with the bank.
| Profile | Sabadell (Online Account / Key Account) | CaixaBank (Día a Día / HolaBank) |
|---|---|---|
| Salaried expat, €1,800/mo paid in | €0/year — no conditions to meet | €0/year — conditions met (salary + activity) |
| Freelancer, variable income, misses the salary rule | €0/year — no conditions to meet | €240/year — €60/quarter for unmet conditions |
| Non-resident property owner | Key Account ~€160/year (€40/quarter; first 12 months free for accounts opened by 31 Dec 2026, per third-party comparisons) | HolaBank ~€140/year (~€11.67/month, per third-party comparisons) |
| Saver with €10,000 balance + €150/mo energy bills | €0 fees; earns ~€200 interest + ~€54 energy cashback | €0 fees (balance route); no interest paid |
Illustrative worked examples, not quotes. Key Account and HolaBank fees come from third-party comparisons — confirm the current tariff. Interest/cashback uses the published 2% rate (balances up to €20,000) and 3% on direct-debited gas/electricity, per Sabadell's official terms.
The swing case is the freelancer who misses the salary rule: €0 at Sabadell versus €240/year at CaixaBank. That single difference pays for the entire decision for many expats.
→ Best bank account for Turks in Spain — October 2026 guide
What to watch in 2027
Both banks revise tariffs each January — re-check your fee schedule at the new year, especially Día a Día's conditions (€60/quarter is the figure to watch) and Sabadell's 2% rate, set "until further notice". None of this is a reason to wait: open now, switch tiers later. Sending money home? Pair either bank with a transfer specialist rather than bank wires — compare the total received, fee plus markup, not the headline fee.
→ Cheapest way to send money from Spain to Pakistan — October 2026 comparison
Your next steps in Spain
Decided? Continue with the full Spain banking setup:
Best bank accounts in Spain for expats — the scored October 2026 comparison
How to open a bank account in Spain as an expat — the 2026 step-by-step guide
Cheapest way to send money from Spain to Pakistan — October 2026 comparison