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Setting up a bank account

Posted: Sun Jul 21, 2019 7:45pm
13 replies231 views5 members subscribed
Joyce68

Posts: 43

Location: Mar Menor

Joined: 5 Oct 2018

H myself and my husband are currently looking for a new holiday home in spain . Can we open a bank account before we have an address? Can we set up our nie numbers before we travel over .

KateCB

Posted: Mon Jul 22, 2019 8:24am

Posts: 94

35 helpful points

Joined: 26 Nov 2017

Posted: Mon Jul 22, 2019 8:24am

We set up out nie numbers before our purchase, so yes I believe that is possible, however it was done through our solicitor here in Spain, so the new Spanish property address would have been known; the bank account was also set up using our Spanish property address but again prior to completion.

You can set up a spanish bank account from the UK, but it is difficult as they expect you to have nie/mobile and physical addresses here in Spain.

Our bank is Bankinter, and we pay very low fees. 

Hope that helps!

crissywissy

Posted: Mon Jul 22, 2019 10:02am

crissywissy

Super helpful member

Posts: 2450

1622 helpful points

Location: Mar Menor

Joined: 26 Sep 2015

Posted: Mon Jul 22, 2019 10:02am

you can apply for NIE through the Spanish consulate in London. Open a bank account with Sabadell and give them all you details in person when you arrive.

crissywissy

Posted: Mon Jul 22, 2019 10:02am

crissywissy

Super helpful member

Posts: 2450

1622 helpful points

Location: Mar Menor

Joined: 26 Sep 2015

Posted: Mon Jul 22, 2019 10:02am

you can apply for NIE through the Spanish consulate in London. Open a bank account with Sabadell and give them all you details in person when you arrive.

Joyce68

Posted: Mon Jul 22, 2019 12:57pm

Joyce68

Original Poster

Posts: 43

Location: Mar Menor

Joined: 5 Oct 2018

Posted: Mon Jul 22, 2019 12:57pm

Thank you very much. That is very helpful 

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Joyce68

Posted: Mon Jul 22, 2019 12:59pm

Joyce68

Original Poster

Posts: 43

Location: Mar Menor

Joined: 5 Oct 2018

Posted: Mon Jul 22, 2019 12:59pm

Thank you very much 

Si Compare

Posted: Thu Jul 25, 2019 11:10am

Posts: 7

2 helpful points

Location: Camposol

Joined: 19 Jul 2019

Posted: Thu Jul 25, 2019 11:10am

I would personally suggest that you not open an account until you have purchased.

Instead I would use an online euro bank that are easily available online. In this way not only will you get better exchange rate when you transfer funds to Spain, but it saves a lot of hassle trying to sort out banking from the UK.

Online banks give you a card and iban number....its all you need to provide for bills etc.

Once you have your home, look around for the best option in banking, bank charges in spain a not the same as the UK so dont just pick any bank, be sure to get the one with the lowest fees.

To be honest if you only need an account for paying bills you could getaway with just using the online euro account bank. 

KateCB

Posted: Thu Jul 25, 2019 1:39pm

Posts: 94

35 helpful points

Joined: 26 Nov 2017

Posted: Thu Jul 25, 2019 1:39pm

This sounds good,; can you give an example of an online euro account? We tried before setting up a spanish bank account, but could not get accepted as we did not have an nie number or a spanish telephone number.!

Joyce68

Posted: Thu Jul 25, 2019 4:14pm

Joyce68

Original Poster

Posts: 43

Location: Mar Menor

Joined: 5 Oct 2018

Posted: Thu Jul 25, 2019 4:14pm

Thank you very much for that . We will look into an online account 

JackieG

Posted: Sun Jul 28, 2019 8:14pm

Posts: 14

1 helpful points

Location: Los Alcázares

Joined: 15 Mar 2019

Posted: Sun Jul 28, 2019 8:14pm

Look at setting up Transferwise.  You can open a Euro account without an NIE.  We obtained our NIE numbers through the Spanish Consulate in London.  Are planning to open a Euro bank account on our next visit to Spsin

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