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Which bank account can I use for business transactions?

Última actualización: March 26, 2024

You need a bank account to accept customer payments, pay for business-related expenses, and pay taxes. You are allowed to use a personal bank account for business purposes. We recommend using the bank account for business-related transactions only and not mixing business with your personal transactions.

Since taxes are paid via direct debit from your bank account to the Spanish authorities, the bank account you use for business transactions must be a Spanish bank account. Xolo’s solution works best if your bank account is in one of the following Spanish banks: BBVA, Caixabank, Sabadell, or ING.

Remember that for Social Security payments and also for quaterly tax payments, your bank account must be a collaborating bank with the administrations and accept direct debits.Remember also that the bank account must be opened with your DNI or NIE.

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