If you’ve just arrived in Gran Canaria, opening a bank account might be one of the first “grown-up” tasks on your list. Whether you’re here to work remotely, start a business, or settle in for the long term, having a local account can make life much easier, paying rent, receiving payments, or even just avoiding foreign card fees.
We asked our Gran Canaria-based community what they actually use and recommend. Here’s what they told us.
The Most Popular Banking Options in Gran Canaria
Why locals and expats choose it: Wide branch network in Las Palmas and other towns, relatively smooth account setup once you have your NIE.
Best for: Long-term residents who want a traditional Spanish IBAN and in-person service.
Watch out for: Possible monthly fees unless you meet deposit or salary requirements.
Why it’s popular: Strong reputation, large branch presence, and good for mortgages or long-term financial products.
Best for: People settling down permanently or running a business here.
Consider: Fees can be higher without regular deposits.
Why people pick it: Known for property-related services and local presence in the Canary Islands.
Best for: Property buyers or entrepreneurs.
Tip: Ask if the branch has English-speaking staff—support varies.
Why digital nomads love it: 100% online, quick sign-up, English app interface, and no hidden fees.
Best for: Short-term stays or those who don’t need to handle lots of local paperwork.
Note: Doesn’t replace a Spanish IBAN for certain official needs.
Why it’s useful: Low-cost international transfers and multi-currency accounts.
Best for: Freelancers or remote workers paid in multiple currencies.
Limitation: Works best as a secondary account, not your only banking solution.
Why expats like it: Competitive fees, strong online banking system, and an easy-to-use app (available in English).
Best for: People comfortable with mostly online banking but who still want a Spanish IBAN.
Note: Fewer physical branches than BBVA or Santander, so it’s better if you’re happy managing most things digitally.
Why it’s popular: Fast account setup, competitive currency exchange rates, and budgeting tools all in one app.
Best for: Travelers, freelancers, and digital nomads who need to spend in multiple currencies without high fees.
Limitation: Not a traditional Spanish bank—like Wise, it works best alongside a local account for official purposes.
Why people choose it: Known for competitive mortgage offers, solid customer service, and good online banking tools.
Best for: Residents looking for property financing, long-term savings, or investment products in Spain.
Tip: Some branches have English-speaking staff, but it’s best to check beforehand.
Documents You’ll Likely Need in Gran Canaria
- NIE (Número de Identificación de Extranjero) – Your foreigner identification number.
- Passport or national ID
- Proof of address – Rental contract or utility bill.
- Proof of income – Sometimes required for certain account types.
Tips From the Island
If you’re only here for a few months, combining an online bank (like N26) with a money transfer service (like Wise) can save fees and paperwork.
If you’re planning to stay long-term, opening a local account with a Canary Islands branch will make everything from paying taxes to setting up utilities easier.
Some banks in Gran Canaria have more experience with expat clients than others, word of mouth from locals or fellow foreigners is gold.
Final thought: The “best” bank depends on your plans here, short stay, long-term move, or starting a business. But in Gran Canaria, you’ll find a mix of global brands, Spanish banks, and online options, so you can choose what fits your life (and your paperwork tolerance) best.
