If you’re going to be studying in Madrid full-time for the entirety of your program, you´ll need to have a local bank account. Our financial partner, Caja (pronounced: cah-hah) Madrid provides access to bank accounts for IE students who are studying in Madrid.
Blended Format and/or Part-Time Programs
Unless you have Spanish residency, we are not currently able to offer you a Caja Madrid bank account because Spanish Law (Real Decreto 1816/1991) requires a NIE or other residency document (eg. Spanish passport) to open an account at a Spanish financial institution. Given the nature of blended format (mixed presential and online) or part-time programs, generally a tourist visa or no documentation (please check with your local Spanish Embassy for more information) is required to travel to Madrid for short-term stays. As such, we are curently not able to obtain a bank account on you behalf.
See: Opening An Account | Abrir una cuenta for more information on how to open an account.