Opening a bank account in Spain is the most practical way of dealing with money issues, but it is not required by the government. You can decide. Having your own bank account is the most convenient and safest way of controlling your expenses while living here.

As far as we know, all banks accept foreign clients, whether foreigners are legalised in Spain or not, but this condition could vary depending on the bank.

To open an account, you normally need your passport, but, depending on the bank, other documents may be required. If you submit the required documentation, you’ll have exactly the same bank account that a Spaniard would have. As a student under 26, you’ll have benefits and savings on the fees that banks normally charge for their services.

The Banks that we collaborate to provide personal credits for IED Madrid students or let the students pay in terms of payment, are:

Banco Popular

Banco Santander :

University Super Account Banco Santander

IED Madrid, through the agreement with Santander Universidades, offers the possibility of opening a bank account in Banco Santander branch office situated in 35, Alberto Aguilera Street from 8:30-14:00h before you arrive and from your country of origin, or once in Madrid.

Required documents

  • IED Madrid Enrollment Certificate
  • Passport


  • Being an IED student

  • Being younger than 30 years old


Features and advantages

This account offers fee-free banking administration and maintenance*, account holders will be provided with a free university bank card, with no issue fee and free renovation until the holder turns 31 years old.


Annual tax for non residents, until students obtain their NIE card:€6’98.


We recommend, that once you have obtained your first NIE card,you should update your personal information in the bank providing a copy of your NIE card.

For further information contact

Ignacio Sotillo

Director de Oficinas Universitarias



Credit facilities

IED Madrid, through the signed agreement with Santander Universidades, offers our students the possibility of financing their studies with very affordable monthly payments in installments up to 10 years. Room and board costs can be included.


For more information contact with Administration Department.

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