Why do I need a bank account during my study abroad? 

Obtaining a bank account will be fundamental during your stay abroad as it will permit you to better manage your finances as well as certain payments such as car registration, rent, and taxes. Furthermore, many educational programs include an internship within their plan of studies, and if the internship is paid, the company will need you to open a bank account to pay you. 

Therefore, it will be useful to have a bank account that allows you to receive, deposit, or withdraw money in a safe way any time you need it, either through an online service or at an ATM. With a bank account you will also avoid currency exchanges incurred by your country’s bank and, as a result, you will not have to pay extra following each transaction. 

It is fundamental that when selecting your bank account you select one that allows national and international transfers without fees. We recommend that you choose to open an account that doesn’t charge additional fees, offers a free debit card application, and does not require any type of fixed balance. 

How Do I Open a Bank Account?  

Several options exist when opening a bank account in Spain. However, Banco Santander and Banco Sabadell are the two preferred options among students. Additionally, Guruit has strengthened its strategic alliance with N26, an online financial organization that is growing more present in Europe. With N26 it is now possible to open a free account online. 

Offering four distinct bank account options to meet your personal needs, N26 is the ideal bank for students who wish to save time and money. Here we show you how to open up a N26 bank account step by step. 

If you wish to know more about the importance of having a bank account during your studies in Spain, do not hesitate to send us an email at info@guruitapp.com. You can also download our App to find out more about our services.