First things first. You need a Spanish bank account immediately. Like, within your first three days in Spain. No excuses. You have two solid options for opening a bank account in Spain. You can open an account with N26 during the summer once you have your NIE number, which is the easiest route if you want things set up before life gets busy. Or, you can wait and open an account with a local Spanish bank once you arrive. And yes, despite the rumors, you can open a Spanish bank account using just your passport when you first get here.
Your landlord is not trying to hear about your U.S. checking account. They want euros.
When to actually transfer the money (this part matters)
Do not send a single euro until:
- You’ve agreed on the apartment
- The contract is signed by both you and the landlord
Once it’s confirmed and in writing, then you transfer. Not before. Ever. Again, before you sign anything, make absolutely sure you understand how much money is due upfront. Every landlord in Spain does things differently. Some only ask for a security deposit plus the first month’s rent, while others may require several months of rent paid in advance. This is normal, but it needs to be spelled out clearly.
Ask for a full breakdown in writing before you sign. That includes:
- Security deposit
- First month’s rent
- Any additional months paid upfront
- Agency fees, if applicable
The goal is simple: no surprises, no “oh by the way” charges after the contract is signed. If something feels vague or rushed, pause. A legit landlord will have no problem explaining exactly what you owe and why.
Clarity now saves stress later. Always.
How I personally transfer my money
I use Wise for everything. USD to euros. Euros to USD. Rent, savings, life.
Why?
- Better exchange rates
- Lower fees
- Fast transfers
- No sketchy “international wire” drama
If you use my link, you’ll get a fee-free transfer up to $600, which is perfect when you’re moving larger amounts for rent and deposits: Lofton’s Link!
Once the lease is signed, I transfer the money through Wise straight into my Spanish account. Clean. Simple. Done.
Personally, I don’t keep money sitting in my Wise account. I use Wise strictly as a transfer tool, not a place to store funds. I keep my money in my U.S. bank account and only move it through Wise when I actually need it. That way, my money stays where it’s protected.
This matters because Wise is not protected by the FDIC. That means if something goes wrong, your money isn’t insured the way it is in an American bank. Wise is great for moving money efficiently, but it’s not meant to replace a traditional bank.
Think of Wise like a bridge, not a home. Transfer what you need, when you need it, and keep the rest somewhere secure. Please read this guide if you need help transferring money from Wise to your bank account. It walks you through the process step-by-step and shows you how to use Wise without the headache.
Love always + good luck,
American Girl Meets World
