Opening a bank account in Tenerife is relatively straightforward
nowadays and shouldn't take more than 10 minutes.
You may want to consider what your account is for before heading
off into the first bank you see. The mortgage rate and hence the savings
rates are quite low on the island and so you may need to consider
alternative options if you are looking for high interest accounts.
Another obvious consideration may be the fact that you may need to
open an account in a branch where you know they can speak English
if you haven't yet mastered the Spanish language - so shop around
until you can find the right branch. Other considerations may include
internet banking if you want to manage your account via the internet
perhaps if you return to the UK/Europe regularly.
The actual opening process is very quick. You will need to take with
you your passport and NIE number if you have one. You can still open
an account without your NIE but you won't be able to apply for a mortgage
without one or at least without having put the application in process.
Thats it!
If you intend to open a business account - you will also need to
take with you the CIF number, the actual original document and a copy
of the Company Simple (company formation contract) if you have a limited
company.
