Understanding banking charges in Spain…
Banks in Spain seldom offer free banking. In spite of the intense competition in the Spanish banking market, bank charges and commissions in Spain are high compared to other (particularly EU) countries. Fees apply for current/checking accounts with a credit balance; expect to have to pay account opening and maintenance fees, as well as charges for specific transactions.
These tariffs can vary quite significantly between different banks, so before opening an account, think about how the account will be used and do a comparison of the tariffs.
Some banks offer packages aimed at non-resident customers which may, for example, offer reduced rates for international money transfers, free ATM withdrawals and so on for a fixed monthly or quarterly fee.
In certain circumstances the tariffs applicable on an account can be negotiated with the relationship manager in a branch, so it pays to investigate what offers are available before opening any account.