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Banking

Posted: Wed Jul 28, 2021 7:15am
4 replies101 views3 members subscribed
Graham10

Posts: 17

3 helpful points

Location: Camposol

Joined: 6 Dec 2020

Moving to camposol soon but need to open a bank account

Roland

Posted: Wed Jul 28, 2021 9:36am

Roland

Super helpful member

Posts: 2532

1830 helpful points

Location: Camposol

Joined: 23 Feb 2018

Posted: Wed Jul 28, 2021 9:36am

Do plenty of research before opening a Spanish bank account.

Once you have opened one it is difficult to close it.

Bank charges are horrendous in Spain even if you do not use the account !!

Use the search facility at the top of this page & search 'Banking' & Free Banking'.

There is lots of good information there.

You don't actually need a Spanish Bank account these days despite what the Spanish will tell you.

My advice would be to open a Wise.com euro account & use that for all your Spanish Direct Debits.

Excellent rates very very quick transfers & you get a debit card.

eduardo3332

Posted: Wed Jul 28, 2021 3:02pm

eduardo3332

Very helpful member

Posts: 804

575 helpful points

Joined: 21 Jan 2016

Posted: Wed Jul 28, 2021 3:02pm

Roland wrote on Wed Jul 28, 2021 9:36am:

Do plenty of research before opening a Spanish bank account.

Once you have opened one it is difficult to close it.

Bank charges are horrendous in Spain even if you do not use the account !!

Use the search facility at the top of this page & search 'Banking' & Free Banking'.

There is lots of good information there.

You don't actually need a Spanish Bank account these days despite what the Spanish will tell you.

My advice would be to open a Wise.com euro account & use that for all your Spanish Direct Debits.

Excellent rates very very quick transfers & you get a debit card.

Yes good for direct debits etc but if you don't want to keep much cash in your pocket or at home you will be charged a fee every time you want to withdraw from am ATM

I have had a wise account for many years and a good exchange rate, but I pay into my Spanish bank where I pay no fees anyway as this was negotiated upon opening the account

ClareMc

Posted: Wed Jul 28, 2021 3:11pm

Posts: 16

4 helpful points

Location: Lorca

Joined: 28 Jul 2021

Posted: Wed Jul 28, 2021 3:11pm

Graham10 wrote on Wed Jul 28, 2021 7:15am:

Moving to camposol soon but need to open a bank account

I use Caxia (as long as 1k a month going in there its grand), then I just throw everything out between the Wise and N26 accounts and they are my day to day.

Never pay bills with a Spanish account if you can help it. If anything goes wrong (like a row with an electric company, or a joint account where a death has happened) its a complete nightmare and the Spanish can block your account.

Back ups within backups I say.

eduardo3332

Posted: Wed Jul 28, 2021 8:45pm

eduardo3332

Very helpful member

Posts: 804

575 helpful points

Joined: 21 Jan 2016

Posted: Wed Jul 28, 2021 8:45pm

Well said and welcome to the forum 

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