Neobanks in Spain, what they are, how to choose and when to use one

Trek Guide Revolut, N26 and bunq are licensed banks with Spanish IBANs and €100,000 deposit cover. Wise is not a bank. Here's which to use for travel, salary… By Bishnu Adhikari · Sep 27, 2026 Read the full story

A neobank in Spain is an app-only bank or payment provider, and the ones worth using hold a full banking licence, protect deposits up to &euro;100,000 and give you a Spanish IBAN: Revolut, N26 and bunq all do. Wise is not a bank; it safeguards your money… Travel Himalaya Nepal · News Read the full story

What a neobank is, and which ones are actual banks

"Neobank" is a marketing word for a bank you run from an app, and the legal status behind it varies more than the apps suggest. Revolut, N26 and bunq hold banking licences from Lithuania, Germany and the Netherlands respectively, and operate in Spain under EU… Travel Himalaya Nepal · News Read the full story

Deposit protection, explained plainly

A licensed bank's deposits are protected up to &euro;100,000 per person per bank by its home country's scheme, which is the same limit Spain's own fund applies. Spain's Fondo de Garant&iacute;a de Dep&oacute;sitos says it guarantees up to &euro;100,000 per… Travel Himalaya Nepal · News Read the full story

Using one while travelling in Spain

A short-stay visitor does not need a Spanish account at all; a card with no foreign fee does the job, and a neobank is just one way to get one. The free and basic plans compare like this, on the providers' own fee pages: Spending euros from a euro balance… Travel Himalaya Nepal · News Read the full story

Moving to Spain, salaries and paying bills

For a salary and Spanish direct debits, choose a licensed bank that gives you a Spanish IBAN: N26, Revolut, bunq or Openbank. N26 says every account opened since 17 April 2019 has a Spanish IBAN that works for salary and direct debits; Revolut says you can… Travel Himalaya Nepal · News Read the full story

What a neobank cannot replace

A neobank covers everyday spending, salary and bills, but it is a poor fit for anything that needs a counter, a local relationship or large sums. None of the app-only providers here has branches where you can pay in cash across a desk, so a business taking… Travel Himalaya Nepal · News Read the full story

Our verdict

Visiting Spain: use a no-foreign-fee card or Revolut's free plan. Moving to Spain: open N26 or Revolut for a Spanish IBAN and backstop it with Openbank if you want Spain's own guarantee fund. Paid in several currencies: add Wise for exchange, but not for… Travel Himalaya Nepal · News Read the full story

Keep reading

The four decisions that choose a card, with every comparison in one place. What a nomad base in Nepal really looks like. The four charges on a trip abroad, and how to dodge them. The card-machine question that costs travellers most. When each one wins, and… Travel Himalaya Nepal · News Read the full story

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