Opening a Bank Account- What documents are needed?

Posted by: colenot

Opening a Bank Account- What documents are needed? - 02/11/11 09:39 AM

I currently have a checking account at Caja Madrid. When I opened it over a year ago, they didn't ask for any documents other than my residence card and my passport.

Yesterday, I went to open a personal checking and savings account and aside from my residence card and passport, they wanted to see a work contract.

I work from home on the internet and get paid from American companies so I don't have a work contract.

They made me go home and get my apartment rental contract then said they have to do that US personal background check and to supply them with income information from these American companies that pay me (Google and other affiliate programs).

So, I went home and returned with my rental contract and emailed her a couple of screen shots from Google and another company that pays me monthly.

Today, she emails me and says the account is opened, BUT I have to supply them with tax documents from the last few years.

What the f*$%?!!! What is this? Is this normal? This didn't happen with Caja Madrid.

I've never had so much hassle in opening a checking account.

Does anyone know where else I can go to open a checking and savings account with JUST an NIE number(residence card) and or my passport (and no extra documentation)?


Posted by: pedmar

Re: Opening a Bank Account- What documents are needed? - 02/12/11 06:27 AM

I hear some problems in opening accounts by Americans, dont know if you are. However, its all tied up with extra security nowdays unfortunately. I never encounter those problems but I have Spanish citizenship as well.
You are to get more facts, these organisation is for Americans Abroad that I belong for a long time; and they have lobby group working to ease the opening and closing of bank accounts by Americans abroad, maybe they can direct you with better info
hope it helps
Posted by: colenot

Re: Opening a Bank Account- What documents are needed? - 02/13/11 01:35 PM

I can't imagine that all of the english teachers that don't have work contracts or proper papers/residence cards not having bank accounts in Spain.

I'm sure many of them don't have access to their tax documents from home as well.

I suppose that I'll just pop into a couple of other banks this week and ask what documents they'll require from me to open an account.

Anyways, thanks for your response.
Posted by: MadridMan

Re: Opening a Bank Account- What documents are needed? - 02/14/11 06:16 AM

Banks change "the fine print" practically with every breath.

But, give us some clarification, please.
So you opened a "checking" account at the bank.
Now you're trying to open a "PERSONAL checking account"??

What's the difference and do Spanish banks even have "checking accounts"?

Do you mean, possibly, instead of a "checking account", a "debit account" with a debit (credit) card to make electronic purchases?

Since you already have the Caja Madrid account, you can't open an additional service therein? Or, I gather, this also has something to do with your mobile phone contract payments, correct?

Saludos, MadridMan
Posted by: colenot

Re: Opening a Bank Account- What documents are needed? - 02/19/11 12:16 PM

Problem Solved.

By checking I mean "current" account. Personal account as opposed to business.

It just so happened that I was at an Irish pub last weekend and as I was talking to a couple of expats there about "living in Madrid," one guy went through the same thing that I did with the banks.

He found one that opened an account with only a passport, and didn't ask for a residence (although he had one).

I am going through a divorce and all of my Caja Madrid paperwork is at my wifes place, so she can view my account. This is why I wanted a new account at another bank. Disassociating myself with stuff she has access to.

I supposed I could have opened another account at Caja Madrid, but I wanted to start over again and open an account where I didn't have to provide my residence card (since I make internet income and am paid from American companies).

We have a shared account with BofA in the U.S. (where Google deposits my monthly payment) and she has been able to move money around and spend it without asking me.

Luckily, since the bank has all of my info, they were able to open up a whole new checking/savings account in my name only and I just redirected the Google deposits in time for this months payment. It was my biggest month so I'm glad that it worked out in time.

But, with the phone thing, I suppose if worse came to worse, yeah, I'll just close that account. I still need to talk to Orange. For now, I'll keep Caja Madrid as I do like the convenience of having them all over.