You need a Spanish bank account to receive your stipend. Why not choose something convenient, free, and easy? I’ll help you save money and get all the info you need to manage your accounts and receive payments from your school through this page.
- Opening an Account
- Getting Paid
Your Account Information
Bank Account Confirmation Certificate - Adding Money to Your Account
- Activating Bizum
- Customer Support
- Closing the Account
Opening an Account
Because it’s such a fast and easy process, there is no need for you to try to work through opening an account before going to Spain (it may be difficult to do so anyway – the Agencia Tributaria might not have updated their database with your tax ID yet.)
To open an account, you need your passport, a Spanish address, your NIE, and a phone. Your NIE should be located in the visa page of your passport. Keep in mind that your NIE is your foreign ID number. It is used to identify you. Please do not share it publicly.
(Your NIE will start with X, Y, or Z followed by 7 numbers and ending with a control digit)
If your NIE is not on your visa, please consult the following guide:
With regards to the Spanish address, you can use your temporary accommodation’s or school’s address as a temporary option. Make sure you immediately change the address after getting an apartment.
You can easily change your address in the app, and if you ever have any issues, you can contact customer support and get it it sorted. (if you have more complicated issues, make sure to directly ask for a human representative)
Finally, because it’s an online bank, they need to verify your identity with either a photo or video to finish the process.
Once you have met all the requirements, you could reasonably expect to have an account set up within about 8 minutes.
Setting up your Account
Step 1: Click HERE. (This is an online bank that uses an app, so use your phone).
The link provided is an affiliate link. Creating an account through that link helps support the website and all the work that goes into it. If you are provided an invite link by a friend for a special reward, you can still receive that bonus while using the affiliate link above.
Step 2: Select “Open an account”. Remember, this is an online bank that uses your mobile phone. If you try this step on a computer, they’ll redirect you with a QR code to use your phone.
Make sure to do some basic research and decide on what type of account you would like to open before going through the setup process.
I personally use the Standard account, but if you wish to have a higher interest rate on your savings or other extra perks, you can pay a little extra for a more premium account
Step 3: Once you have decided on an account, you can start with the setup process. First, select your country of residence. (Spain)
Step 4: Complete your personal information (Be sure to do so carefully), confirm your email, download the app, and verify your identity. N26 will also try to upgrade your account during the setup process. If you only want a free account, make sure not to choose any extras.
Make sure the name you put in your application exactly matches the name on your NIE document. Otherwise, you may encounter an “invalid NIE” message later on.
Additionally, it could be that the Agencia Tributaria might not have updated their database with your tax ID yet. (nothing gets done in Spain during August, so please be aware of that. Also, please wait until you enter Spain to retry.)
During this process, they will ask you about your employment status. Even though you will be on a student visa, you are working and will receive a monthly “salary” (stipend) through the program. I personally selected “employed”.
Again, if you have difficulties at all, you can always contact customer support and request a human representative to assist you or send an email to support@n26.com.
Step 5: (optional) If you’d like, you can request a physical debit card. Just go to the N26 App -> “Cards” (found at the bottom of the screen) -> “Order a physical card”. It will cost 10 euros, and your physical debit card will be sent to your address.
Remember that your physical debit card would be sent to the address listed in your account. Be mindful of that if you are staying in temporary accommodation!
Getting Paid
Within the first few weeks of working as an auxiliary conversation teacher, the school will provide you with a form to enter your bank details. Getting the form filled out correctly and providing the additional documents requested will allow you to get paid.
Your Account Information
Your bank account will have 2 key numbers:
The IBAN – ESXX XXXX XXXX XXXX XXXX XXXX
BIC – Typically, a combination of letters.
Both of these can be found in the app. In the top right corner, click on your initials. Then, select “Account details”. Make sure to carefully copy the codes.
Additionally, some regions may request a “Sucursal”. The Sucursal refers to your bank’s office within Spain and helps to identify that bank. Normally, these offices have a numerical code that identifies them.
I’ll copy and paste the address for N26 along with the code below:
Paseo de la Castellana 43, 28046, Madrid, España
NIF W2765098E
Bank Account Confirmation Certificate
“My school is requesting a stamped document with my bank information. How do I get a stamped document with an online bank account?”
You can request a bank account ownership certificate with a signature and a stamp completely online.
- Log in to your N26 account on a computer.
- Click on “my account” (top right).
- Under “your accounts” – click “main account personal”.
- Click “Download balance statements”.
- Scroll down and click request account confirmation.
- You should instantly receive an email and message with the signed and stamped page.
If, however, your school is requesting that your NIE be included with this document, you will have to contact customer support and request it there. It should still be a quick and simple process.
Adding Money to the Account
After opening your account, you need to add funds to it. Generally, N26 allows for a one time free top up with a credit card, but afterwards, you’ll have to find a dedicated international transfer service.
Be mindful when choosing your international transfer service. Too many auxiliaries get ripped off by either their local banks, PayPal, or other familiar transfer services. When making an international transfer, please be mindful of the exchange rate and the fees.
Too many transfer services offer low fees but absolutely kill you in terrible exchange rates. You want to get the maximum amount of euros possible for your dollars. Before you make a transfer, do a quick comparison.
For all your international transfers, I highly recommend using Wise. It is what everyone living abroad uses because it has lower fees, higher transparency on costs, and reliable, fast transfers. If you don’t believe me, check for yourself.
Wise – Save money and support the webpage
Activating Bizum
What is Bizum?
When going out with Spanish friends, you may be asked to make a Bizum transfer. Bizum is a free service provided by many banks including N26. With Bizum, you are able to make domestic transfers with just the recipient’s phone number. It’s basically the Spanish version of Zelle. If you want to stay old school and use cash when splitting the bill, that’s fine too, but Bizum can be incredibly convenient.
N26 Support Page (How to use Bizum)
How to activate Bizum on N26?
Super easy! Go to the Home app screen and click on Send money, then click on Get started. You’ll have to confirm your phone number and then you’ll have completed the registration.
What to do if it is not possible to complete the registration in Bizum because the phone number is already in use in another account?
This can happen for various reasons, we recommend:
- Check that your phone number is up to date on N26.
- Keep in mind that, so far, it is only possible to have Bizum linked only to one bank account. Therefore, if you are already using it on another account, you will have to unlink it from there or follow the Portability steps explained below to use Bizum on N26.
- If your situation is not one of the two mentioned above, we recommend that you contact our Customer Service from the app for further assistance.
Portability: How to bring your Bizum account to N26 from another bank?
During the activation of Bizum in N26, after entering your personal data, the app will identify if you are already registered in Bizum with another Bank. To activate it on N26, you will have to enter a code that we will send you by text message.
How does Bizum work?
Go to the Home screen and click on Send money or Receive money, depending on what you want to do; enter your friend’s phone number and the amount. The money you send will arrive instantly, and the requested money will enter your account as soon as the notification is accepted.
Customer Support
Customer support can be found at the top right corner of your screen next to your initials when using the app. After clicking on the message icon, scroll down and select “Support Chat”. Generally, the chat will start with an AI bot.
If you need to chat with a representative, you can simply request that in the chat. In my experience, customer support is easy to use and quite responsive.
Closing the Account
If you’ve decided to permanently close your N26 account, here’s what to do:
- Make sure your account balance is €0. If you still have money left in your N26 account, you should transfer the money to another bank account (Wise Guide), or if it’s a small amount and you don’t mind, you can support Residency2spain with a donation. If your account balance is negative, top up your account so that your account balance is €0.
- Tap here to begin your account closure process online. You’ll first need to log in to verify your identity. The app will then guide you through the account closure process.
- Destroy your N26 card. For example, by cutting it up with scissors. You should cut the chip embedded into your card and the magnetic stripe on the back of your card, then dispose of the parts separately.
I highly recommend N26 because it’s free, convenient, and easy to use. If you have any further questions, feel free to contact me.
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