What you need to know about Spanish IBAN's.

Why didn’t N26 offer a Spanish IBAN from the beginning?

Theoretically, having a German IBAN in Spain shouldn’t be an issue under EU law which states that all EU IBANs should be accepted, regardless if it’s from a different country than your country of residence. However, we’ve been listening to our customers and know that this isn’t always the case. To make things easier, we’ve now decided to offer our Spanish customers their own local Spanish IBAN.

What is an IBAN?

It stands for International Bank Account Number, and it's the identification number for EU bank accounts.

Why do we now offer a Spanish IBAN?

Some employers and service providers don’t accept foreign IBANs as a means of paying out salary or setting up direct debits, even though (as we mentioned before) the law says they are supposed to accept any EU IBAN. In order to provide you with the best banking experience, we’ve adapted to the local needs of the Spanish market by offering you a local IBAN.

When is the Spanish IBAN available?

From now on, new customers signing up from Spain will automatically receive a Spanish IBAN, while existing customers will be contacted later this year with instructions on the necessary steps to change their German IBAN to a Spanish IBAN, if they wish to do so.

Why wasn’t a Spanish IBAN always available?

We’re committed to doing things right. This means working with Spanish local regulators and institutions to ensure that the transition is smooth and meets all your expectations, with minimal impact or effort.

Will you do this in other countries as well?

Yes, we are constantly listening to the feedback we get from you and plan to introduce this in other markets where we see a high number of requests. It’s not a big issue everywhere, so we’ll review the need on a case-by-case basis.

What if I want a German IBAN?

If you opened your account before April 17th 2019, you will be able to decide whether if you want to maintain your current IBAN or if you want to change it for a Spanish one. We will contact you this summer to guide you through the steps.

If you opened your account after April 17th 2019, your IBAN is automatically Spanish.

Do I have to close my account to get my Spanish IBAN?

No, you don’t need to close your account. We will contact you with the steps, in case you would like to switch to a Spanish IBAN. Keep in mind, if you close your account now, you will then lose your transaction history.