GBP accounts in Spain: Best options

Settling in Spain doesn’t mean leaving sterling behind. Many expats still need to pay bills back in the UK, keep up with savings, or receive income in pounds. That’s where a GBP account comes in handy, allowing you to hold and manage pounds directly, without the hassle of constant conversions into euros. Digital providers like Wise go one step further by letting you keep pounds alongside 40+ other currencies, so you can swap between GBP and EUR whenever you need, and spend globally with a linked debit card.

This article covers:

What is a GBP currency account?

A GBP currency account is a bank or online account that lets you hold money in British pounds, even while you’re living in Spain – or anywhere else for that matter. Think of it as a simple way to separate your sterling from your euros, so you don’t need to convert every time you want to spend or make a transfer. Some accounts focus only on pounds, while others are multi-currency, giving you the flexibility to hold, send and exchange several currencies in one place.

What can you do with a GBP account in Spain?

Having a GBP account in Spain can make day-to-day financial management easier for anyone with ties to both the UK and Spain. From receiving income to planning conversions, the account gives you flexibility in how you manage your money.

• Receive income in GBP: If you earn a UK salary or pension, you can have it paid directly into your account. Wise even provides local account details for receiving pounds, with small fees applied only to certain types of incoming transfers.
• Save funds in pounds: Hold your balance in GBP and wait for a favourable exchange rate before converting into euros.
• Send money abroad: Move money back to the UK or to other countries. Providers like Wise often keep transfer costs lower by using the mid-market rate plus a transparent fee, rather than adding a hidden markup to the exchange rate.
• Spend while in the UK: Use a debit card linked to your GBP account when travelling back home to avoid unnecessary conversion fees.
• Exchange currencies when needed: Switch between pounds, euros and other currencies whenever it suits you with a multi-currency account.

Types of GBP accounts

You’re likely to come across the following two most common types of accounts while on the hunt for a GBP currency account in Spain:  

Multi currency accounts: Designed for people who frequently move between different currencies, multi-currency accounts keep USD alongside euros and other major currencies in one place, letting you exchange between them whenever you need to. Most also come with a linked card for everyday spending, making them a good choice if you’re paid in dollars but live day-to-day in euros.

• Wise: Hold GBP and 40+ other currencies, switch between them at the mid-market rate and spend worldwide with the Wise debit card.
• Revolut: Manage GBP, EUR and other major currencies with tiered plans that also include budgeting tools and some travel benefits.

Foreign currency accounts: A foreign currency account is usually tied to a single currency like GBP. Banks in Spain offer these accounts for people who want to save in pounds, invest, or cover regular payments abroad without converting into euros first.

• Santander Foreign Currency Account: Open a GBP account in Spain to make and receive payments. The account is available fully online, with no commission for keeping a GBP balance and no exchange fees when withdrawing GBP bank notes.
• Banco Sabadell Higher Sterling Account: A dedicated GBP account with no maintenance fees, plus interest earned on balances above a set threshold.
• Bankinter Foreign Currency Account: Provides GBP and other major currency options, with no minimum balance, but it does charge a €45 annual account fee.

Best GBP currency accounts in Spain

Even though you’ve made Spain your home for now, you may still need to manage money in more than just euros. Many expats still earn, save and spend in GBP, so having the right account is essential if you want to make everyday life easier. Luckily you have some options – you can choose a traditional foreign-currency account from a Spanish bank, or opt for a digital provider like Wise or Revolut if you want flexibility and simple tools for managing multiple currencies.

Banks tend to suit those who want stability and options for savings alongside large transfers, while online providers often work better for everyday use, low-cost conversions and travel spending. We’ve selected a mix of both, looking at fees, ease of use, supported currencies and accessibility for residents and non-residents alike. Below you’ll find a quick snapshot of each option, followed by more detail to help you decide which account works best for you.

GBP accounts	💡 At a glance
Wise Account	Hold and exchange GBP and 40+ other currencies, spend with the Wise debit card in 150+ countries and receive payments globally with local GBP account details.
Revolut Account	Choose from flexible account plans that all come with a debit card. Hold and exchange GBP, EUR and other major currencies, with extra perks like budgeting tools and travel benefits for higher tiers.
Santander Foreign Currency Account	Open a GBP account with Santander Spain in just a few clicks. Make and receive payments directly in pounds, trade between currencies and withdraw GBP banknotes without paying exchange fees.
Banco Sabadell Higher Sterling Account	A dedicated GBP account for expats in Spain, offering interest on balances and no maintenance fees.
Bankinter Foreign Currency Account	A foreign currency account that supports GBP and other major currencies with simple management online or in-branch. An annual fee applies, but there’s no minimum balance requirement.

Wise account

Wise offers a multi-currency account built for flexibility. You can hold GBP alongside 40+ other currencies in one place, and switch between them whenever you need using the mid-market exchange rate with a small, transparent fee starting from 0.47%.

Local GBP account details are included, which makes receiving pounds from the UK straightforward. You can also order a Wise debit card to spend directly in 150+ countries or withdraw cash from ATMs abroad. Accounts are free to open and easy to set up and manage entirely online.

• Hold and exchange GBP with 40+ other currencies
• Receive local account details to receive GBP without extra fees
• Spend or withdraw abroad with the Wise debit card

Account opening fee: None for personal customers. Business customers need to pay €50 to unlock full account features.
Eligibility criteria: Available to residents of Spain and many other countries worldwide.
Supported currencies: GBP, EUR, USD and 40+ others.
Monthly fees: None.
Exchange rates: The mid-market rate.

Revolut account

Revolut provides an app-based account where you can manage GBP, EUR and 30+ other currencies from your phone. All plans include a debit card, instant spending notifications and budgeting tools. The Standard plan has no monthly fee and covers everyday needs, while Plus, Premium, Metal and Ultra tiers add higher allowances and perks like airport lounge access and higher fee-free ATM withdrawals. Currency exchange is free within your plan’s limits, but there are small fees once you go beyond. 

• A debit card included on every plan
• Hold and exchange GBP, EUR, and 30+ currencies
• Extra travel perks and higher allowances on premium plans

Account opening fee: None.
Eligibility criteria: Available to residents of Spain and other supported countries.
Supported currencies: GBP, EUR, USD and 30+ others.
Monthly fees: Free on Standard plans; Higher tiers range from €3.99–€45 per month.
Exchange rates: Interbank rate during market hours up to plan allowances; 0.5% fee above; 1% surcharge at weekends.

Santander Foreign Currency Account

Santander Spain’s Foreign Currency Account (Cuenta en divisa) is for anyone who wants to make and receive payments or invest in USD while living in Spain. The account can be opened in GBP or another supported currency, with over 20 in total, and is managed entirely through Santander Online Banking or the mobile app. Unlike many bank accounts, it has no ongoing commissions or minimum balance requirements, making it simple and cost-effective to maintain.

Customers can also withdraw GBP banknotes from their account without exchange fees, which is helpful if you travel frequently or want to keep pounds on hand.

• GBP account available in Spain, alongside 20+ other currencies
• Fully digital setup via online banking or the Santander app
• Withdraw GBP banknotes directly with no exchange fees

Account opening fee: None.
Eligibility criteria: Available to residents and non-residents.
Supported currencies: GBP, USD, EUR and 20+ other major currencies.
Monthly fees: None.
Exchange rates: Santander’s exchange rates for conversions, which typically inlcude a markup; no fees on GBP cash withdrawals from the account.

Banco Sabadell Higher Sterling Account

Banco Sabadell has created a GBP account tailored to expats who want to hold money in pounds while living in Spain with no minimum or maximum limits on transactions. The Higher Sterling Account doesn’t charge maintenance fees and pays up to 0.20% APR once balances pass a set threshold. With support available in-branch and online, those who are interested in opening an account need to first make a request and meet with a Banco Sabadell account manager.

• GBP account with no maintenance fee
• Earn interest on balances above a threshold
• Bilingual support for expats living in Spain

Account opening fee: None.
Eligibility criteria: Likely to include proof of ID and address. Contact Banco Sabadell for more details.
Supported currencies: GBP, with linked euro accounts for local use
Monthly fees: None.
Exchange rates: Likely to include a markup on the exchange rate for transfers between GBP and EUR.

Bankinter Foreign Currency Account

Bankinter offers a foreign currency account that supports GBP, as well as other major currencies. Designed for customers who need to hold or move money internationally, the account makes it easier to handle payments abroad without having to convert into euros each time. There’s no minimum balance requirement, though an annual account fee applies, and non-Spanish residents can also apply. You can open the account fully online without any paperwork and, while you won’t get a linked debit card, the account does come with a cheque book and the option to withdraw cash at Bankinter branches. 

• GBP and other major currencies available alongside EUR
• No minimum balance required, with full liquidity at all times
• Managed online, with cheque book and branch withdrawals instead of a card

Account opening fee: None.
Eligibility criteria: Individuals over 18 years old and living in Spain.
Supported currencies: GBP and other majors alongside EUR.
Monthly fees: €45 annual maintenance fee (€22.50 charged half-yearly).
Exchange rates: Bankinter’s own exchange rates, usually with a margin applied.

Fees for GBP accounts in Spain

Costs can look very different depending on the provider you choose. Some accounts are easy to manage with no fixed charges, while others include ongoing fees or hidden extras. Here are the main ones to watch out for:

• Account opening fee: Most Spanish banks, such as Santander or Banco Sabadell, don’t charge an upfront fee to open a GBP account, although they may ask for a minimum deposit. 
• Monthly maintenance fee: Many digital providers, including Wise and Revolut, don’t apply monthly charges. Sabadell’s Higher Sterling Account is also free from maintenance fees, which makes it practical if you want to keep pounds on hand until you need to convert or transfer them.
• Annual fee: Some banks apply a yearly fee instead of a monthly one. Bankinter, for example, charges €45 annually for its foreign currency account, billed in two instalments.
• Currency conversion fees: Converting pounds to euros or another currency often comes with a margin added by the bank, which increases the cost of transfers and payments. Some digital services, such as Wise, use the mid-market exchange rate and add only a small transparent fee, which can work out cheaper.
• Receiving GBP payments: Spanish banks may charge when you receive money from the UK or other countries, especially if the payment comes via SWIFT. Wise provides local GBP account details for free incoming transfers, with only a small charge on international wire payments.
• ATM withdrawal fees: Banks in Spain generally allow free euro withdrawals from their own ATMs, but fees can apply when withdrawing in GBP or using another bank’s machine. Providers like Wise and Revolut include a monthly allowance of free ATM withdrawals before small charges kick in.

How to open a GBP account in Spain

While the exact steps for opening a GBP account in Spain can vary between banks and online providers, you’ll almost always need to show proof of your identity and where you live. In some cases, you’ll also need to confirm your residency status or income. 

With banks in Spain: If you choose a bank in Spain, you may need to start your application online but complete it in a branch. Banks often require your passport, proof of address (in Spain or abroad) and your NIE (foreigner ID number) if you’re a resident. 

Non-residents may also need to present a Certificate of Non-Residency. After these checks, the bank can open your GBP account, but processing times and exact requirements depend on the bank you choose.

With online providers: Opening a GBP balance with an online provider, such as Wise or Revolut, is often faster and more convenient. Everything can be done digitally: you sign up using your email or an Apple or Google account, upload a photo of your passport, driver’s license, or ID card and confirm your identity with a quick selfie or video. Once verified, you can hold GBP, receive payments with local account details, send money abroad and order a Wise card to spend in multiple countries.

How to use your GBP account in Spain

Managing two currencies can feel complicated at first, but a GBP account in Spain makes it far easier to keep control of your money on both sides of the Channel. Multi-currency accounts are useful for expats, as they merge tools and services for sending, receiving, holding and spending in pounds and euros without the constant expense and need for conversions.

Here are some of the most useful ways you can use a GBP account in Spain:

• Send and receive international payments: Move money between Spain and the UK, or receive transfers from friends, family, or clients abroad. 
• Hold pounds securely: Keep your savings in GBP and only convert to euros when rates are in your favour to get more value out of your money.
• Currency exchange on your terms: Convert between GBP, EUR and other currencies at competitive rates. Wise uses the mid-market rate with a small, transparent fee, giving you clarity and control.
• Spend abroad with a card: Use a linked debit card for everyday shopping and travel purchases. Providers like Wise and Revolut make it easy to spend directly from your GBP balance or switch to euros when needed.
• ATM withdrawals in Spain and beyond: Access your pounds as cash at ATMs. Digital providers often include a fee-free allowance, while banks may apply a set charge per withdrawal.
• Cover recurring payments: Pay UK bills, mortgages, or subscriptions straight from your GBP account without unnecessary conversion fees.

Conclusion

Opening a GBP account in Spain can take a lot of the stress out of managing money between two countries. If you’re looking for a safe place to hold pounds, an easy way to pay UK bills, or the flexibility to spend in both currencies, the right account will depend on your needs and residency status.

Established banks may appeal if you prefer in-branch support or want to save money pounds. Digital providers such as Wise, on the other hand, are often more practical for everyday use, giving you the freedom to hold GBP alongside 40+ other currencies, spend abroad with a debit card and move money internationally at the mid-market exchange rate.

If you’re looking for flexibility and transparent pricing for global features, opening a Wise account is a simple way to make sure your pounds work wherever you are in the world.

Useful resources

• Wise – Hold and exchange GBP and 40+ other currencies, with local account details and a debit card for global use (checked September 2025).
• Revolut Spain – Multi-currency digital account with debit card, budgeting tools, and travel perks (checked September 2025).
• Banco Santander – Spain’s largest bank, offering accounts that support foreign currency transactions (checked September 2025).
• Banco Sabadell – Sterling account for residents and expats, including options for managing GBP balances (checked September 2025).
• Bank Inter – Foreign currency accounts options in GBP, USD and other majors currencies (checked September 2025).

Comparisons are based on publicly available information from provider websites as of September 2025. Features and fees may change – always check the latest details before opening an account.