Bilbao

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Banks and ATMs

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Banks in Bilbao, Spain

Bilbao, as a major city in Spain and the Basque Country, has a well-developed banking system with a variety of banks offering services to residents, immigrants, and visitors. Below is an overview of the types of banks, their services, operating hours, and procedures for opening an account.

Types of Banks

  1. National Banks: These are large Spanish banks with branches across the country, including Bilbao. Examples include:

    • Banco Santander
    • BBVA (Banco Bilbao Vizcaya Argentaria) (headquartered in Bilbao)
    • CaixaBank
    • Banco Sabadell
    • Bankinter

  2. Regional and Local Banks: These banks may have a stronger presence in the Basque Country and offer services tailored to the region. Examples include:

    • Kutxabank (a Basque bank with a strong local presence)
    • Laboral Kutxa

  3. International Banks: Some international banks also operate in Bilbao, though they may have fewer branches. Examples include:

    • Deutsche Bank
    • ING

  4. Online-Only Banks: Digital banks like N26, Revolut, and Wise are popular for their low fees and ease of use, though they don’t have physical branches.

Services Offered by Banks

  • Personal Accounts: Current accounts (cuentas corrientes) and savings accounts (cuentas de ahorro).
  • Debit and Credit Cards: Issued with most accounts.
  • Mortgages and Loans: For property purchases or personal needs.
  • Currency Exchange: Available at some branches, though rates may not be as competitive as dedicated currency exchange services.
  • International Transfers: Services like SWIFT and SEPA for sending money abroad.
  • Insurance: Many banks offer home, car, and life insurance.
  • Investment Services: For those interested in stocks, bonds, or mutual funds.

Operating Hours

  • Most banks in Bilbao operate from 8:30 AM to 2:00 PM, Monday to Friday.
  • Some branches may open on Thursday afternoons or Saturday mornings, but this is less common.
  • Online banking services are available 24/7.

Opening a Bank Account

If you’re an immigrant or planning to stay in Bilbao long-term, opening a local bank account is highly recommended. Here’s how to do it:

  1. Documents Required:

    • Passport or valid ID (for EU citizens).
    • NIE (Número de Identidad de Extranjero): A foreigner’s identification number, required for most financial transactions in Spain.
    • Proof of Address: A rental contract, utility bill, or empadronamiento (registration with the local town hall).
    • Proof of Income or Employment: A work contract, payslips, or proof of self-employment.
    • Student Documentation (if applicable): Enrollment confirmation from a university or school.

  2. Procedure:

    • Visit a branch of your chosen bank.
    • Request to open an account (cuenta bancaria).
    • Fill out the necessary forms and provide the required documents.
    • Once approved, you’ll receive your account details and debit card (usually within a week).

  3. Types of Accounts:

    • Resident Accounts: For those living in Spain with a NIE.
    • Non-Resident Accounts: For visitors or those without a NIE. These accounts may have higher fees and limited services.

  4. Fees:

    • Many banks charge maintenance fees (around €10-€20 per quarter), though some offer free accounts if you meet certain conditions (e.g., direct deposit of salary).
    • Online-only banks often have lower or no fees.

ATMs in Bilbao

ATMs (cajeros automáticos) are widely available throughout Bilbao, making it easy to withdraw cash or perform basic banking transactions.

Availability

  • ATMs are located at bank branches, shopping centers, train and bus stations, and major tourist areas.
  • Most ATMs operate 24/7.

Fees

  • Domestic Cards: If you use a Spanish bank card, withdrawals are usually free at your bank’s ATMs. Using another bank’s ATM may incur a fee (typically €1-€3).
  • International Cards: Fees for foreign cards vary depending on your home bank and the ATM operator. Expect fees of €3-€5 per withdrawal, plus any charges from your home bank.
  • Tip: Check with your home bank for partnerships with Spanish banks to avoid extra fees.

Withdrawal Limits

  • Most ATMs have a daily withdrawal limit of €300-€600, depending on your bank and card type.
  • You can make multiple withdrawals if needed, but fees may apply for each transaction.

Languages

  • ATMs in Bilbao typically offer multiple language options, including Spanish, Basque, English, and French.

Tips for Using ATMs

  1. Choose ATMs at Bank Branches: These are generally safer and more reliable.
  2. Avoid Dynamic Currency Conversion (DCC): When withdrawing with a foreign card, always choose to be charged in euros rather than your home currency to avoid unfavorable exchange rates.
  3. Carry Small Bills: Many businesses in Bilbao prefer smaller denominations, so withdraw amounts like €50 or €100 in smaller notes if possible.
  4. Be Aware of Skimming: Inspect the ATM for any suspicious devices before inserting your card.

Local Considerations and Tips

  1. Cash vs. Card:

    • Credit and debit cards are widely accepted in Bilbao, even for small purchases. However, it’s still a good idea to carry some cash, especially for smaller establishments like local markets or cafés.
    • Contactless payments (via card or mobile apps like Apple Pay and Google Pay) are increasingly common.

  2. Currency:

    • Spain uses the euro (€). If you’re exchanging foreign currency, banks and dedicated exchange offices (casa de cambio) are available, though ATMs often provide better rates.

  3. Bank Holidays:

    • Banks are closed on public holidays, so plan accordingly. Bilbao observes both national and regional holidays, such as the Aste Nagusia festival in August.

  4. Language:

    • While most bank staff in Bilbao speak Spanish, not all are fluent in English. If you’re not confident in Spanish, consider bringing a translation app or asking for an English-speaking staff member.

  5. Customer Service:

    • Spanish banks are known for their slower processes compared to some other countries. Be patient and allow extra time for account setup or other services.

For Visitors

  • Use ATMs for cash withdrawals instead of currency exchange offices for better rates.
  • Consider using a travel-friendly card like Revolut or Wise to minimize fees.
  • Keep an eye on your bank statements for any unexpected charges.

For Immigrants

  • Opening a local bank account is essential for receiving salaries, paying rent, and managing utilities.
  • Choose a bank with a strong local presence, like Kutxabank or BBVA, for easier access to services.
  • Familiarize yourself with Spain’s banking fees and requirements to avoid surprises.

By following this guide, you’ll be well-prepared to navigate Bilbao’s banking and ATM systems, whether you’re visiting for a short time or planning to settle in the city. Let me know if you need further assistance!