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Banco Santander review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banco Santander, S.A. is a Spanish bank whose easy-access current account carries a monthly fee of €0 and pays nothing on balances, with a headline rate of 0%. It suits people resident in Spain who want everyday banking without a maintenance charge or lock-in.

Key facts

Best for
Anyone in Spain who wants everyday banking with a monthly fee of €0 and no conditions attached.
Monthly fee
€0↗
Deposit protection
EU DGS up to EUR 100,000↗
Transfer fee
0 EUR↗
Legal entity
Banco Santander, S.A.↗
Headquarters
Spain↗
Founded
1857↗
Support channels
Phone, Email, Help-centre↗
Pricing model
No monthly fee
Official website
bancosantander.es

Savings

Headline rate
0%↗
Rate type
Variable↗
Access terms
Non-remunerated current account, no maintenance fee and no conditions, no lock-in or penalisation↗
Account kind
Easy access↗

Money transfer

Delivery time
1-5 days (SWIFT); under 10 seconds (SEPA instant)↗
Payout methods
Bank, Wallet↗
Fee to send 1,000
€0↗

Facts checked September 26, 2026, 10 sources

Apps and profiles

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Elsewhere
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Pros and cons

Pros

  • Monthly fee of €0 on the online current account, with no minimum balance and no lock-in or penalisation for leaving
  • Deposits are covered by the EU DGS scheme, with protection of EU DGS up to EUR 100,000
  • Support runs through phone, email and help centre, so help is available by phone, email and a help centre
  • International transfers carry a transfer fee of 0 EUR

Cons

  • The account pays a headline rate of 0%, so balances earn nothing while sitting on it
  • Transfer times run 1-5 days (SWIFT); under 10 seconds (SEPA instant), so urgent cross-border payments need planning
  • Support is limited to phone, email and help centre, with no live chat listed
Banco Santander

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Scored 9.5 / 10 by VaultCue.

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Who it suits

  • People living in Spain who want a current account with a monthly fee of €0 and no conditions
  • Anyone who needs a help centre and phone support, available through phone, email and help centre
  • Customers who mainly move money in euros and want a transfer fee of 0 EUR

Who should look elsewhere

  • Anyone wanting to earn interest on everyday balances, since the headline rate is 0%
  • People who need instant international payments, because delivery runs 1-5 days (SWIFT); under 10 seconds (SEPA instant)
  • Anyone who relies on live chat, as support covers only phone, email and help centre

How Banco Santander compares

Where Banco Santander is available

Available
Spain

Countries from the brand (Source, checked September 29, 2026)

Frequently asked questions

How much does the Banco Santander current account cost each month?+

The online current account has a monthly fee of €0. There is no maintenance charge and no conditions, so no minimum balance or turnover is needed to keep the account open. The account also has no lock-in or penalisation if you decide to close it.

Is my money protected at Banco Santander?+

Deposits are covered by the EU DGS scheme, with protection of EU DGS up to EUR 100,000. That is the deposit guarantee limit per depositor, and it applies to the balance held with Banco Santander, S.A. as a Spanish bank.

Does the Banco Santander account pay any interest?+

The account is a non-remunerated current account, with a headline rate of 0% on the balance. The rate type is variable, so any future change to the rate can move the figure. Money held in it is for spending rather than saving.

How long do Banco Santander transfers take?+

Delivery times run 1-5 days (SWIFT); under 10 seconds (SEPA instant). SEPA instant transfers land in seconds, while SWIFT transfers take a longer window. Plan international payments ahead if the recipient needs the money quickly.

What does it cost to send money abroad from Banco Santander?+

International transfers carry a transfer fee of 0 EUR, so there is no separate charge for sending money abroad through online banking. Payouts can go to a bank account or a wallet, in line with bank and wallet.

How can I get help from Banco Santander?+

Support runs on phone, email and help centre, covering phone, email and a help centre. There is no live chat listed among the channels, so a written question through email or the help centre is the fallback. A call is the fastest listed route for urgent money questions.

What kind of account is this?+

It is an easy access account, which means money can be reached on demand rather than tied up. The model is no monthly fee, matching accounts that carry no monthly fee. The legal entity behind it is Banco Santander, S.A., headquartered in Spain.

How long has Banco Santander been running?+

Banco Santander was founded in 1857, making it one of the older banking names in Spain. The bank trades as Banco Santander, S.A. from ES, and holds a banking licence rather than an e-money licence.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Currency conversion fee, Currencies.

Related by the facts

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