This information is for orientation only, not tax or legal advice. For Modelo 720 and tax residence consult AEAT or a qualified adviser.
Finance roadmap
Basic account → Bizum/SEPA → Rent (domiciliación) → Payslip → Annual Renta → Savings (optional)
Student checklist — finance
- Week 1–2: compare banks, open cuenta corriente with ES IBAN.
- Activate Bizum — Payments between students and small amounts.
- Before rent: check transfer limits and domiciliación.
- With work: align NIE, bank address and employer for correct withholding.
- Year end: keep nóminas; assess Renta obligation.
Current account
| Bank type | Examples | Note |
|---|---|---|
| Traditional | Santander, BBVA, CaixaBank | Branches, joven packages |
| Online | ING, Openbank | Often lower fees |
| Neobank | Revolut, N26 | Useful multi-currency; check ES IBAN for rent |
- Documents: Passport, NIE/TIE, empadronamiento or university letter.
- Identity verification — Video or branch.
- Cuenta sin comisiones — Often requires card use or salary domiciliación.
- Security: 2FA, transfer limits, transaction alerts.
Everyday payments
- Transferencia SEPA — Transfer to IBAN (rent, bills).
- Bizum — Standard between individuals; bank limits (e.g. €1,000/day typical).
- Domiciliación — Direct debit; dispute incorrect charges within deadlines.
- Contactless — Card and mobile payment widespread in cities.
Rent and solvency
- ASNEF / ficheros morosidad — Late payments can block new contracts.
- Aval bancario — Paid guarantee for those without Spanish income.
- First month: fianza (1–2 months) + possible agency + utilities.
Student tax basics
| Topic | Note |
|---|---|
| Tax resident | Usually >183 days in Spain in the calendar year |
| IRPF | Renta return if you exceed thresholds or it is beneficial |
| Modelo 720 | Foreign assets above thresholds — rules evolving, check AEAT |
| Double taxation | Italy–Spain conventions if you have foreign income |
Savings and investments (basics)
- Cuenta remunerada — Short-term liquidity.
- ETF / funds — Only with a long horizon; read fees and withholding.
- CNMV — Warnings on high-risk products.
Related insurance
- Seguro de hogar — Often required by lease.
- Responsabilidad civil — Third-party damage; sometimes included in home policy.
Official links
Sources
They ask for 6 months in advance - negotiate or look for another flat.
Quick reference
Granada/Valencia €600–850/month; Madrid/BCN €900–1,200+. Bizum for expenses between roommates.
Realistic monthly budget
- €/month
- 2026 indicative
Banking and payments
Bank/bank
Santander, BBVA, Caixa, N26. NIE to open. SEPA for rent.
Taxes in daily life
Taxation
VAT included. Nominate if you work. Rent young people often zero if below the threshold.
Groceries and dining
Expense
Mercadona, Lidl, markets. Tapas not every day if budget tight.
First-month checklist
First month
Deep dive (optional)
Go deeper
Operational detail and official links—amounts and deadlines change; always confirm on the competent portal before filing or paying.
Banking & Spanish IBAN
EUR accounts (ES IBAN)
A cuenta corriente handles SEPA salary credits, direct debits for rent/utilities, and card spend. Expect NIE/TIE, proof of address, and sometimes your empadronamiento.
Fees
Compare maintenance fees, ATM charges, and FX if you move money outside the euro area.
Income tax & filings
- Employees: withholding + annual personal income tax return
- Self-employed: quarterly prepayments plus annual settlement
- Capital gains / crypto: follow AEAT guidance for the relevant year
Banking & insurance supervision
Banco de España
Customer-service complaints and transparency rules for payment services.
Markets & consumer finance
Post-arrival checklist
EU/EEA
- Empadronamiento
- Local bank + phone
- Regional health card if you settle long-term
Non-EU
- Valid TIE/NIE paperwork
- Banking that matches visa conditions
- Cl@ve / certificate if you must file in Spain
This block complements the guide with institutional entry points—not legal or tax advice.