Bueno is focusing on those who own a property in Spain, long term renters and people in the process of buying in Spain. Where others are focusing on your personal finances we instead focus on your property.
People often have the same questions. We have listed these frequently asked questions (FAQ’s) with answers which we recommend as your first step to get help, as it may save you time. On our support website, you will find a more extensive list of questions and answers that are updated weekly with new questions and answers.
What is required to open an account?
To open an account with Bueno you need:
1. A Spanish address (or be in the process to buy)
2. A NIE/DNI (Spanish tax ID)
3. Valid ID such as a passport or EU/EEA ID card
How long does it take to open the account?
The account application takes 5-10 minutes to fill out online. The approval process in manual and will take from a few working hours (Spanish time). Applications on Fridays after Spanish working hours or on Spanish public holidays may be delayed until Monday / next working day. This only relates to new account applications.
Who can open an account with Bueno?
We can offer accounts to residents from the EU/EEA, this include non-EU persons who have relocated to Spain and become a Spanish resident. Unfortunately, US passport holders cannot open an account with Bueno.
Which documents are required to open the account?
The level of documentation vary based on the volume/usage of the account and risk profile of the customer. Our initial limit is €20 000 in payments per year which for most customers require only an ID document to open the account. Contact us for more information.
Do I have to visit a branch or office to open my account?
No, you never have to queue at a branch again! Your account opening process is managed 100% online. There is no need to travel or to leave your home to become a Bueno customer.
I am buying a property, can I use Bueno for the payment?
Your Bueno account can be used for property transactions but some additional documents will be required as part of our anti money laundry checks that are required by law. The process is simple and your real estate agent will often share this with you, if not, contact us and we will assist you. Note that we don’t have support for Cashier's Checks which are often still used in Spain, adding extra time and significant cost. If the seller accepts an electronic transfer this is much better for both parties. If the seller also opens an account with Bueno the transfer will be instant. We will shortly offer a special buyer/seller package.
What type of transfers does Bueno support?
Our accounts can only accept and send SEPA transfers in Euro. The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. EEA countries such as the UK accept SEPA payments and Bueno has a partnership with Currencies Direct offering bank beating exchange rates for non-euro payments.
Before SEPA there was only SWIFT, the old international banking network. This is still being used and, outside Europe, it is often the only option. Bueno cannot accept SWIFT payments. These include urgent transfers within Europe that are sent on the SWIFT network. SEPA Instant is an alternative urgent transfer option. Bueno hopes to support this during 2023. For now, please ensure you send normal bank transfers in Euro and your account will work very well.
Are there any additional banking costs?
All your transfers are included in your Bueno plan within reasonable (normal) usage. This is typically more than sufficient for most people.
Rejected direct debits can incur extra cost, and if you need manual statements and receipts, we may have to charge for this.
How can I order the Bueno card?
Our card has not yet launched. When it’s ready you can order your Bueno card within our app. You can choose between a physical card and virtual cards which offer better security for online usage.
Is card usage included in the Bueno plan?
You can use your card without any cost in shops and online in Europe (Euro). For other currencies there will be an exchange rate added by the card issuer. ATM (cash) withdrawals are free up to €800 per month. Please see our price list for detailed information.