Bank account with Wise

You don't move your Spanish bank account to Wise.

You open a Wise euro account & set up your DD from that account.

Then close your Spanish bank account.

There is no DD switching service as in the UK.

But what about things like debit cards? Do Wise provide customers with these 

We have a holiday home on Camposol and so are not residents and now after Brexit will not be in a financial position to retire to Spain.

We are with Sabadell and their bank charges just get more and more each year.

Does Wise operate like a usual Bank or is it just a facility to transfer money and pay Direct Debits?

Any advice greatly appreciated 

Fl

Wise operate like a normal bank account.

They provide a debit card.

Thank you Roland. This definitely seems to make more sense for us than paying nearly €400.00 per year. Do you have any advice on how easy it is to set up DD’s with Wise and more importantly how to cancel them from Sabadell and close our account?

Regards 

Flo

We are just buying in Condado and I am looking at this option rather than a Spanish bank account to save monthly costs. 

Looking at the currency transfer rate today they are actually better than the currency companies on their rate so looks to be no downside. 

I guess the only thing I need to be sure on is that the Electricity, Water and Community fees can be paid monthly from this account (DD?). 

In regards to the annual foreign / local Tax payments can these been made by Wise too?

Any help would be appreciated. 

I use Wise and N26 to pay for everything, from utilities, cash and rent etc

Thanks Clare that is really helpful as looks like it will save quite a bit on bank fees. 

Thanks

Barry

We have accounts with Wise, Starling Bank and a Halifax Clarity Credit Card. Everything can be done without a Spanish bank account with next to zero fees. Wise for money transfers and direct debits, Starling for a euro/gbp debit card/cashpoint card and Halifax Clarity Card for a credit card. We are non resident and have never opened a Spanish bank account. Hope this helps. 

Hi

I was looking at the N26 card and guess you need to setup as your address in Spain as looks like you cannot have it delivered to the U.K.?

Thanks