A local bank account is essential for life in Tenerife, whether for paying bills and taxes or receiving your salary or pension. While the process of opening an account is relatively straightforward, navigating the paperwork, fees, and different account types in Spanish can be challenging. This guide covers the basics of banking in Tenerife for expats.

Resident vs. Non-Resident Accounts

The first thing you need to decide is what type of account you need, as the requirements are different:

  • Non-Resident Account (Cuenta Bancaria para no Residentes): If you do not live in Spain for more than 183 days a year (i.e., you are not a tax resident), this is the account for you. It's perfect for holiday homeowners. You will typically need your passport and NIE number.
  • Resident Account (Cuenta Bancaria para Residentes): Once you become an official resident with a TIE card, you should convert your account to resident status. This often gives you access to a wider range of services and potentially lower fees.

What You Need to Open an Account

While each bank has slightly different requirements, you will generally need to provide the following:

  • Proof of Identity: Your valid passport.
  • NIE Number: Your Spanish tax identification number is mandatory.
  • Proof of Address: A recent Padrón certificate or utility bill.
  • Proof of Employment Status: An employment contract, pension statement, or your latest Spanish tax declaration.

Closing an Account After a Death: A Difficult Process

One of the most challenging and emotionally draining tasks is dealing with the bank account of a loved one who has passed away. The process is bureaucratic and requires specific legal documents to release the funds to the legal heirs.

You will need to present a number of official documents, which often include:

  • The official Death Certificate.
  • A copy of the deceased's Will.
  • A Grant of Probate (if from the UK) or equivalent legal document proving you are the heir.

Crucially, any documents not in Spanish will require an official sworn translation ("traducción jurada") to be accepted by the bank. The bank staff are not permitted to help; you must provide them with the legally correct, translated paperwork.

Your Professional Banking Assistant

Language should not be a barrier to managing your finances. I can assist with every aspect of your banking needs in Tenerife. I will accompany you to the bank to help open an account, ensuring you understand all the terms and conditions and choose the right product for you. For the difficult process of closing an account, I provide both the official sworn translations required and the sensitive, in-person interpretation needed to navigate the final steps with the bank, making a difficult time a little bit easier.