Best free bank 2026: no-fee accounts that hold up

Best free bank 2026: no-fee accounts that hold up

Finding a no-fee bank in Spain in 2026 is an odyssey that most banks would rather you didn't undertake. A customer who has been with BBVA for years discovers that even a certificate costs €25, and he's not the only one. Traditional banks have been cutting back on their free offerings, but there are still options for those who don't want to set up direct deposit or use a card.

Openbank, the favorite of those fleeing fees

Openbank gets the most repeated recommendation. No conditions, no fees, free debit card and access to the Santander and Euro Automatic Cash ATM networks. It also has Santander behind it, which adds an extra layer of security. Those who have used it for 20 years say it meets everything the average user asks for: free standard banking, no minimum income or direct deposits.

Alternatives: IMAGIN, MyInvestor, Trade Republic and Revolut

IMAGIN Bank also appears as a solid option, MyInvestor for investments and Trade Republic for earning interest on cash. Revolut scores points for travel thanks to its lack of ATM and currency exchange fees. The recurring advice is not to commit to a single bank: use one for everyday banking (Openbank) and another for investing (MyInvestor). Some even combine up to five institutions depending on the function.

The fine print of free banking

Although not always advertised, several accounts have invisible requirements. The Openbank account they mention is the "Cuenta Corriente Open", with no strings attached. But other offers, such as BBVA's for salary deposits, require gross income of €720. The user looking for total freedom - no salary deposit, no card usage - finds the most flexible options in Openbank and Revolut.

The lure of promotions

Until June 30, 2026, opening an Openbank account with an invitation code earns €50 for the new customer and an additional €20 for bringing Bizum. A strategy to attract users that, incidentally, shows that free banking is not philanthropy: banks still need critical mass.

In the medium term, the trend is for no-conditions accounts to become scarcer. Anyone who finds one now would do well to keep it while they can. Meanwhile, the general recommendation points to a combination of accounts: one for everyday use and another for investing. Who knows how long this truce on free banking will last.

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