Banks

How to open a bank account
In most cases, you will need a residency card to open a bank account.  However, Bankinter offers an excellent  on-line bank account which can be viewed in English and which you can open with your passport number.  See www.ebankinter.com for more information.
To open a current account (cuenta corriente), take your passport or Spanish residency card to the bank, and provide your name, address and telephone number.  If you are a non-resident without a work permit, you will need a certificate of non-residency, which is important for tax reasons.  Pick this up at Brigada Provincial de Extranjeria y Documentacion , currently located at calle Moratin, 43, near Metro Anton Martin.

Bancos y cajas
A caja de ahorros is a savings bank, a banco is a privately owned bank.  Both offer similar services, but a caja uses its profit for social projects.  Most banks only open during the morning, and are closed on Sundays and holidays.

Cheques
Cheques are rarely used in Spain.  Most daily transactions are done with cash (efectivo or metalico) or by card.  To cash a cheque (talon), take it to the bank it was issued from - exactly the same branch (sucursal), not any office in the chain - to get the cash on the spot.  Or take it to your bank and deposit it in your account.

Foreign-currency exchange
Banks and money-transfer companies all charge fees for international transfers, and the cheapest, most convenient way depends on your circumstances; although for transfers within the EU, your best option is your own bank.  To change foreign paper money into euros, your bank will also offer you the best rates.