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Opening a bank account in Spain without being a resident

Carlos S. Ponz, Advertising - 17/01/2024
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Opening a bank account in Spain without being a resident is possible. If you live abroad and you need a way to manage your money in Spain, you can now do that easily with the Banco Sabadell Key Account. This is a bank account created exclusively for international clients that want to use their money in the country, even if they are not Spanish residents.

Who is eligible to open this bank account? And how does this account for non-residents work?

Who is eligible to open a bank account in Spain without being a resident?

Anyone living outside of Spain but needing to manage their finances in the country can open a Key Account. The only requirements are being of legal age, having a valid identity document and not appearing on any default payment list.

You need the following documentation to open a bank account in Spain without being a resident:

  • European Union (EU) residents. If you are an EU resident, you can open a bank account in Spain using only the identity document from your country of origin or your passport.

  • Non-EU residents. If you don’t live in any EU country, you need your passport to open a bank account in Spain.

Opening your Banco Sabadell Key Account is simple. You just need to fill in the application form to open your bank account. After that, a bank manager that speaks your language will contact you to get all your details, help you set up your account in a personalised way, sign the agreement and enable you to use your new Key Account.

Benefits of having a bank account in Spain

  • Debit and credit cards. With the Banco Sabadell Key Account, you can have your first debit card and credit card without issuance or maintenance fees so you can carry out transactions in the country. Moreover, after you are done setting up your cards in the bank app, you will be able to use them and pay for your purchases without needing to use the physical cards.

  • Translation service. When opening this bank account, you will have a personalised customer service by a bank manager that speaks your language. Moreover, the Key Account includes an exclusive and free-of-charge translation service (10 texts of up to 500 words per year) that will help you save time.

  • Bank transfers. You can make your bank transfers online (non-immediate bank transfers) in Spain and in countries from the European Economic Area (EEA) without any fees (up to €20,000). You can also receive bank transfers from other EEA countries in euros, Romanian leus, Swedish kronor and Norwegian kroner. Likewise, you can receive money from non-EEA countries free of charge in those same currencies up to a maximum of €50,000.

  • Free money withdrawals. Debit withdrawals are free of charge for any amount at Banco Sabadell ATMs. For debit transactions of €60 or more at ATMs of the main banks belonging to the EURO 6000 network: Abanca, Ibercaja, Kutxabank, Unicaja Bank, Liberbank, CajaSur, Caixa Ontinyent and Colonya Caixa Pollença.

  • Digital banking. With Banco Sabadell Key Account you can transact on the bank’s app.

Bank services for non-residents in Spain

Is it possible to send money from my foreign account to my bank account in euros? The answer is Yes. With the Banco Sabadell Card Transfer service you can now send your money immediately from your other bank to your account in euros in Banco Sabadell using the bank’s app. To do this, all you need is the other bank’s card and access to your account. This is a fast and flexible service (you can use it from the bank app or via the website) and that you can use whenever you need it. This operation is only valid for cards issued in EU countries, Iceland, Norway and UK (except Croatia, Luxembourg, Malta and Cyprus).

If you still have doubts about opening an account at Banco Sabadell without being a Spanish resident, you can always contact a bank manager via the bank website. The manager will help you in this process and will dispel any doubts you may have.

Picture by Christin Hume in Unsplash

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Cybersecurity   - 04/07/2024

How to prevent yourself becoming a target of the CEO or Man In The Middle frauds Carlos S. Ponz

The CEO and Man In The Middle fraud are two of the most common phishing attacks, so here's how to avoid and detect them.

The CEO and Man In The Middle fraud are two of the most common phishing attacks, so here's how to avoid and detect them.The most common digital fraud in companies include those related to phishing, a type of cybercrime that consists of fraudulently acquiring confidential information, such as account passwords or bank card information. Within phishing, there are two new types that are becoming particularly popular among cybercriminals, especially in holiday seasons: the CEO and the Man In The Middle scam

This article explains what they are and offers a series of tips on how to avoid them.

What is CEO fraud? 

The CEO fraud is the use of an identity of someone with authority in a company, such as the chief financial officer (CFO) or chief executive officer (CEO), to try to defraud employees who have access to the company's accounts or other relevant assets. Using this fraud, the criminal tries to get money transferred or obtain confidential information from the organisation that can be used to his or her benefit.

One of the most common ways in which this CEO fraud occurs is through the registration of a company's website domain that is very similar to the real one. Then, the criminal sends an email to someone with a position of authority within the company, pretending to be someone in charge, asking them to urgently and confidentially send a certain amount of money to an account controlled by the cybercriminal.

What is the Man In The Middle fraud?

The Man In The Middle attack involves the criminal intercepting the communication between two people connected to a network. This allows them to obtain highly confidential information (such as bank details or the victim's physical address) that will later facilitate the phishing of either person, so that they can ask the CFO of the company to make a payment to them.

Typically, in a Man In The Middle fraud, criminals will use email address phishing of a company's suppliers to divert payments to a fraudulent account. It can also happen the other way round: spoofing a customer's email address to divert their charges to a fraudulent account. 

This may interest you: Check out the new online fraud attacks

Tips to avoid becoming a victim of a CEO or Man In The Middle phishing attack

In order to avoid becoming a victim of a cyberattack, the most important recommendation is to be cautious. If you have any doubts about a request you receive informing you of a new subscription account, the best thing to do is not to trust it. Remember that Banco Sabadell will never request confidential data from you by text message, email or phone call, nor will we request that you transfer your funds to a secure account.

In addition, we recommend that you follow other tips to minimise the chance of suffering any of these frauds, such as:

  • First, always check email addresses, paying special attention to any differences that you may notice in the email.

  • Check by a different method other than email (such as the bank's app) any change in the direct debit of a payment suddenly and without prior warning.

  • So, if you receive an email informing you that there has been a change in the account to which a payment has been sent, you will usually receive a simultaneous phone call from the impersonator to confirm the fraudulent activity. Never trust any such call and always check the authenticity of the exchange by contacting the supplier on the telephone number originally given to you.

  • The first time you make a transaction with a new supplier, always confirm that the details of the payee and the bank address for payment are identical to those included in the previously established contract or on the order form and that there are no changes.

  • Remember never to share your passwords or your company's passwords with anyone so as not to allow them to be compromised. 

  • It is crucial to inform a company's employees about the possible fraudulent activity that they may be exposed to, especially in relation to being cautious when they are required to make a payment.

  • And it is important for any company to implement internal protocols for verifying payment requests received by telephone or email. 

This may interest youHow to increase the cybersecurity of any online transaction

If you have any queries, Banco Sabadell has a customer service team at your disposal 24x7 on 963 085 000.

Photograph by Andrea Piacquadio on Pexels.


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Cybersecurity   - 20/06/2024

These are the most common online scams and how you can avoid them Carlos S. Ponz

There are countless Internet scams out there, but you can reduce your chances of falling victim to one if you follow certain guidelines.

Although there is a plethora of cyberthreats on the Internet, knowing the most common ones is essential to keep alert and aim to avoid them. Below we analyse the most common online scams and give you some recommendations to reduce your chances of falling victim to one of them.

What are the most common online scams

Although there is a wide variety of online scams, these are the most frequent:

  • Phishing. This is a type of computer crime that features the attempt to fraudulently acquire confidential information, such as the password to your bank accounts or detailed information on your credit cards. The cybercriminal impersonates a bank or a company and, abusing the user’s trust, asks them for their account password or card PIN number.

  • Smishing. This is a variant on phishing where the fraudsters try to impersonate a bank, company or institution using SMS. Generally, the message asks the victim to call a special billing number or access a link to a fake website using a false pretext. If the recipients opens the link, the cybercriminal may infect their device or access sensitive information.

  • Vishing. The aim here is to steal the victim’s bank data or make financial transactions. This is a phone scam in which the criminal calls and pretends to be from a company, organisation or trustworthy person in order to obtain personal and sensitive information from the victim. In these calls, the victim is sometimes informed of a transaction and they are requested to download an application to authorise it or they are informed of attempted fraudulent operations and requested to make a transfer to keep their money safe.

Important: remember that Banco Sabadell will never request confidential data from you by text message, email or phone call, nor will we request that you transfer your funds to a secure account.

This may interest youCheck out the new online fraud attacks

How to avoid online scams

Each of us can take certain actions to enhance our level of security and avoid falling victim to an online scam. Some of the more important are:

  • Periodically updating your card PIN and password to access your remote banking. Regularly change your passwords and use a different one for each of your accounts, making sure they are as strong as possible (for example, creating passwords at least 8 digits long that include upper and lower-case letters, numbers and special characters). Remember never to physically write down the passwords anywhere or share them with anyone.

  • Never give out your username or password. Never share your passwords with anyone else to prevent them from being compromised. Banco Sabadell will never ask you for this information. For this reason, do not share any password or confidential data, such as transaction keys or card details (PIN, CVV or numbering), even if the sending party identifies itself as Banco Sabadell.

  • Keep a close eye on your security. Always check the information on the most recent login to your online banking on the Banco Sabadell website. Remember to always use email in secure mode and distrust those emails that come from unfamiliar sites or those containing incoherent information. Also avoid entering your passwords and or opening a session in your online banking on public computers.

  • Always keep your devices updated. Keep both your mobile phone’s operating system and apps updated. Also remember not to install apps from unknown sources and use official and certified sites, such as Google Play Store or the App Store. Install an antivirus program on your computer and your mobile phone.

  • Always browse on secure websites. When using the Internet, make sure that the websites you connect to are: https:// and not http://. Look carefully at the address and if it begins with https, it will have a padlock. When you click on the padlock, check that the address is written properly.

If you have any queries, Banco Sabadell has a customer service team at your disposal 24x7 on 963 085 000.

Photography by Magnet.me on Unplash

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Cybersecurity   - 20/06/2024

Your security is our commitment Carlos S. Ponz

We use the latest tools for the maximum security of your finances and provide you with the information you need to identify potential scams 

The digitalisation of banking services has come with many advantages, such as the speed and automation of certain processes, which can be carried out wherever you may be, without having to come into the branch, not to mention the sophistication of security systems, some with features such as facial recognition.

However, cybercriminals are developing ever more complex scams and fraud, causing the uninformed to fall victim to cyberattacks, thus opening a breach in the security system. This is why it is crucial to be aware of cybercrime so that you don't fall victim.

At Banco Sabadell, we are firmly committed to the security of your accounts and we work hard so that you can access them and conduct your banking transactions at any time with absolute security and peace of mind. To do so and be able to bolster the security of your finances, knowing how to identify potential cyberattacks minimises possible security breaches caused by human error. Although cybersecurity begins with ourselves, at Banco Sabadell we have additional systems in place to protect your accounts.

Banco Sabadell Security Tools

  • Verification of each transaction via digital signature

To ensure a greater degree of security in any transaction, such as an online purchase, direct debiting a bill or making a transfer, Banco Sabadell offers you the option of including extra verification via digital signature. Thanks to the digital signature, for example, you avoid any attempted scam or phishing.

Remember that in order to sign for any transaction you make online, you will need to have downloaded the Banco Sabadell app on your smartphone and have the digital signature activated. This way, you will receive your signature code via notification instead of SMS.

  • Facial recognition and digital fingerprint

In addition to your password, to log into the Banco Sabadell app, you have the option of using facial recognition (iOS) or digital fingerprint (Android). These are two login methods that provide an extra layer of security based on biometrics, that is, features that are intrinsic to the user (such as one's face or fingerprint). In addition to enhancing login security, this technology allows the user to access the app without having to manually enter his/her password (a slower process than facial recognition or reading a fingerprint, and one which might be spotted).

In order to activate Banco Sabadell remote banking with facial recognition or your fingerprint, in the app go to the main menu > ‘Settings’ > ‘Security and Privacy’. There, depending on whether you have an iOS or Android device, you can choose to log in by Face ID or with your fingerprint, respectively.

  • Logging into online banking

In order to ensure that the use of our online banking is 100% secure, in addition to the digital signature, we also have other measures in place:

  • Information on your most recent login to our website. This can help you know if your web identity has been stolen. For example, if you see a session was started in the early morning and it wasn’t you, it may mean that your security has been breached and a third party may have accessed your accounts.

  • Errors in the login password. Your online banking login password has a maximum of 5 wrong attempts. On the third attempt; you will be asked for an extra verification coordinate if you correctly enter the password that will be sent to you by SMS/push, depending on your signature type. If on the fifth attempt the password is entered incorrectly, for security purposes, your remote banking will be completely blocked and you will have to reset it.

In addition, remember that, for security purpose, you will be logged out of the session if it is inactive for a short time.

  • Security measures in your cards

All Banco Sabadell cards have several security measures in place. Some of the most notable are:

  • EMV Chip, which requires a PIN and reduces the risk of fraud thanks to its cardholder validation system.

  • Configuration for international use with magnetic strip reading or for the internet without digital signature in all the cards you use via the Banco Sabadell app.

  • In contactless payments, the PIN is requested for payments that exceed a predetermined amount.

  • Adjustable limits on your card for purchases and cash withdrawals.

  • In the case of suspected loss or theft of your card, you can switch it off temporarily from the Banco Sabadell app.

  • What’s more, if we detect certain unusual patterns or transactions, we will get in touch with you immediately.

  • Maximum protection in online purchases

Your Banco Sabadell card is also a great ally for enhanced security in your online purchases. Banco Sabadell protection systems ensure a secure user experience:

  • If you make your purchase in merchants with the ‘Verified by Visa’ or ‘Mastercard SecureCode’ certificate, we will request that you confirm each purchase via the bank app, signing for the transaction.

Your Banco Sabadell card lets you apply limits at any time on your daily or monthly purchase amounts or cash withdrawal. You can also adjust the settings for its use abroad by magnetic strip or via Internet without digital signature.

In contactless card purchases, your PIN will be requested for payments that exceed a certain amount.

What’s more, if we detect certain unusual patterns or transactions, we will get in touch with you immediately.

Remember that with the app you can block your card and turn it on and off when you need to, as well as claim a refund from a fraudulent use of your card.

This may interest youHow to increase the cybersecurity of any online transaction

  • 100% secure websites

All Banco Sabadell websites have their respective security certificates that accredit them as 100% secure websites. In this way we guarantee the utmost protection with regard to the confidentiality of your data using encrypted communications that impede a third party from accessing this flow of information.

When you browse our website you will see that it always begins with "https://" and not simply "http://” (which would indicate that it might not be totally secure). What’s more, you will always see a padlock on our website, which means that the connection is secure and your information is completely private while you browse our site. 

If you need help or have additional questions, you can contact a Banco Sabadell expert any time at (+34) 963 085 000.

Photography by Alsudiz on Pixabay

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