There are two types of banks in Spain, Savings and Loans and Clearing Banks. Some of largest banks are:
BANCO BILBAO VIZCAYA
ARGENTARIA
BANCO ESPANOL DE CREDITO S.A.
BANCO SANTANDER CENTRAL HISPANO
BANESTO
BANKINTER
BILBAO BIZKAJA KUTXA
CAIXA DE CATALUNYA
CAJA DE ARQUITECTOS
LA CAIXA
KUTXA
There have been many consolidations in the banking industry, the list above was updated in 2001 but there may have been recent mergers. The quality of the banks has improved a great deal but still most banks are not international oriented. ATM's or cash machines are very popular and a in-expensive way to get cash out of your account abroad. Before you go, you may want to check if your "honour" or debit card will work in Spain. My experience is that not all ATM's will honour your card, some of them only
dispense money if a Spanish Bank card has been used. You can open a Spanish bank account, either as a resident or a non-resident. It is much more convenient to make your payments using a Spanish bank than tranfering everything from your account abroad. Since 1993, there are no restrictions for EU citizens to open a account, and the same regulations apply as in their home country.
If you area non-resident, non EU citizen, you will need a bank account for your real estate purchase. It is your proof that the money for your Real Estate investment has been imported and can be exported if you decide to leave Spain. Your bank abroad should give you a certificate of the money transfer to make it official.
Another popular way of international banking is through a offshore account. It protects your privacy and later on it protects your heirs from death tax. The interest is received tax free and there are no double taxation agreements. In most cases, these offshore banks offer ATM cards and on-line banking.
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