9 Practical Banking Tips for International Students in Spain

Student Guide to Banking in Spain e1644992547284

Banking is an integral part of your student journey in Spain. You’ll use banking services to manage your funds for school and living expenses.

Upon choosing the bank that’s right for you, it’s best to keep some key things in mind. Banking is convenient and reliable in Spain so the experience won’t let you down.

To make the most of your banking experience, you can try practical tips to make it better. This can range from safety to mobile banking tools and budget management.

Here are nine practical banking tips to get you started:

Get Into Mobile Banking

Traditional banks allow international students to open a bank account. But it may be more convenient for you if you’re also into mobile banking.Ā Ā 

If it suits your lifestyle, you can have both types of accounts for your convenience. You can use the traditional bank account for savings and the mobile bank for online payments.

Take Advantage of Digital Banking Features

Many mobile banking apps offer features that enhance your banking experience. For example, you can get an expense manager with the N26 app. Use it to your advantage and track all your expenses.

Be Aware of Exchange Rates

Sending money internationally comes with certain exchange rates. With better exchange rates, worldwide transfers become cheaper. Look into this even before you open your first bank account.

Monitor Your ATM Withdrawals

Most banks charge fees for ATM withdrawals. Note that many banks waive withdrawal fees under certain conditions. Still, it’s best to monitor your ATM withdrawals to avoid racking up fees.

Save as Much as You Can

Use your bank account to save as much money as possible. Spain is a relatively affordable place to study and live in. But you’ll never really know when you’ll need extra cash during your stay.

Never Share Your Banking Information

Only you should know about all your banking details. Never share your banking information with anyone, even the people you trust. Banking scams are common today, so it’s best to stay safe with all your transactions.

Use Your Bank Account Perks

You may get special perks once you open a bank account in Spain. For example, it’s common to receive a debit or credit card once you complete your application. Use these perks to your advantage so you can enjoy a great banking experience.

Stay Vigilant Against Banking Scams

As we said, banking scams are very common today. And scammers are becoming wiser when it comes to scamming people. Make sure that you don’t entertain any messages or emails asking for your information.

Never Withdraw More Than You Need

When withdrawing money, take only the amount you need. Having extra cash on hand may tempt you to recklessly spend your money. Though it’s still great to shop and enjoy sometimes, make sure you’re still within your budget.Ā 

Many practical banking tips can help you exhaust the best advantages you can get with your bank. See our other articles on banking in Spain here at MSM Unify to learn more about these matters.


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