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Banking Advice

Posted: Thu Aug 26, 2021 10:51am
4 replies97 views1 member subscribed
ZB81

Posts: 82

22 helpful points

Location: Lo Pagan

Joined: 10 Jun 2018

Hi

We currently bank with Caixa and are charged quarterly fees and commission rates on any transfers / direct debits etc. Cajamar offer a free bank account providing you deposit 1057 Euros. However, they do not arrange for your direct debits to be moved across anymore (I believe this has changed recently). Has anyone experienced this and is it easy to do? We only have the water, electricity, wifi, insurance and house alarm so not many. Do we get a list from our current bank? I'm concerned if we have to contact the providers ourselves as we don't speak Spanish!

Thanks in advance

Roland

Posted: Thu Aug 26, 2021 12:24pm

Roland

Legendary helpful member

Posts: 3535

2596 helpful points

Location: Camposol

Joined: 23 Feb 2018

Posted: Thu Aug 26, 2021 12:24pm

Why not just open a Wise.com euro account & pay all your DD from there ??

You don't actually need a Spanish bank account nowadays.

If you are concerned about moving your DD ask your solicitor to do it for you.

ZB81

Posted: Fri Aug 27, 2021 10:06pm

ZB81

Original Poster

Posts: 82

22 helpful points

Location: Lo Pagan

Joined: 10 Jun 2018

Posted: Fri Aug 27, 2021 10:06pm

Roland wrote on Thu Aug 26, 2021 12:24pm:

Why not just open a Wise.com euro account & pay all your DD from there ??

You don't actually need a Spanish bank account nowadays.

If you are concerned about moving your DD ask your solicitor to do it for you.

Thanks Roland. We were always under the impression that non-residents needed a bank account. Good news if not! Didn’t know that we could ask a solicitor to move the dd either.

ZB81

Posted: Sat Aug 28, 2021 11:18am

ZB81

Original Poster

Posts: 82

22 helpful points

Location: Lo Pagan

Joined: 10 Jun 2018

Posted: Sat Aug 28, 2021 11:18am

ZB81 wrote on Fri Aug 27, 2021 10:06pm:

Thanks Roland. We were always under the impression that non-residents needed a bank account. Good news if not! Didn’t know that we could ask a solicitor to move the dd either.

Do you have any further information on Wise? We have used it before but only to transfer money to our Spanish bank account. Can you’d eat up your dd yourself? I think our solicitor has a charge for this so may just use them so it’s right. I thought some places would only accept payments from a Spanish account.

Roland

Posted: Sat Aug 28, 2021 12:57pm

Roland

Legendary helpful member

Posts: 3535

2596 helpful points

Location: Camposol

Joined: 23 Feb 2018

Posted: Sat Aug 28, 2021 12:57pm

You can change your bank details on a direct debit yourself.

Some companies you can do it online.

Some Spanish companies will tell you that they will only accept a direct debit from a Spanish bank.

That is not true.

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