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Free Spanish Bank Account for Non Residents

Posted: Sat Mar 28, 2020 9:37pm
28 replies638 views7 members subscribed
paulsav

paulsav

Helpful member

Posts: 315

236 helpful points

Location: Yecla

Joined: 4 Dec 2015

Hi, I have posted many replies to posts asking for any info on a Spanish bank account for non residents without fees. I am also constantly receiving private messages asking questions that I keep answerring with the same info, so I,m writing this as our experience of opening a account with Cajamar. At this moment there are now many postings regarding resident accounts that used to be free now requiring extra conditions to keep their accounts free of charges too.

In March 2019, after 10+yrs of paying Sabadell over 2000€ in fees, I researched every Spanish bank and some internet only non Spanish banks for a fee free account with no conditions for a non resident. This took weeks of research and finally We opened a online account with Cajamar bank and closed our Sabadell account. We had to open in branch as the white paper NIE is not recognised by online applications. Residents can open online. The account is called "weferrent". Thankfully Cajamar have a dedicated english helpline that told me to go into branch to apply.

Before we went I translated all the questions I could think of in google translate as there is no guarantee of an english speaking person in branch, such as Sabadell offer. I also took all our direct debit infos with reference no,s to enable a switch service (however I wasnt convinced it would happen as smooth as Uk switch and as we had closed our old account on same day, I telephoned or emailed all our debit Co,s to confirm to ensure a smooth changeover). If your spanish is poor for phone use, write in google translate and send email in spanish. It did go smooth too as I changed the accounts on a date as far away as the next one was due.

We took our passports, NIE,s, copy of deeds for ID and last statement from Sabadell. We were not asked for any proof of income and although we were opening with a sizeable deposit (balance from Sabadell) we were given loads of info on a interest paying account called 360 but we declined this.

The bank "gestor" who dealt with us had no english nor did anyone else, but using my phone and google translate we managed successfully to open our account. It is an online account but if you want to do an "in branch" transaction there is for that month only a 7€ fee. That month no other fees even if you go in every day.

In 50yrs of banking in Uk I rarely go into our bank and havent even had a branch in my town for past 6years as they closed it. As said there is an english phone helpline.

The cards are free but take 2 wks to collect (so keep some cash to last for 2wks). On opening it appears "transfers" are not part of normal banking?? So a visit a few wks later and we had that service added to account. Needed tranfers to pay our accountant for doing our non resident tax and if we need to pay a builder/workman perhaps. Anyway ask for "transferias" when you open to save returning.

The atm use is free and you can deposit cash in the machine. We have not paid a cent in fees yet (1 year now) but I believe we will shortly for the non resident tax certificate which Sabadell charged 35€ ea and Cajamar is 25€ ea.

The website is in very good english and although the app wasnt available in english when we opened it they now have it available in english so we have found it perfect. 

I hope those that need this info will find it helpful and have the confidence to leave their present greedy banks as I know its not just Sabadell but most of them are now exploiting even more. I am also sure others will offer their experiences with their choice of banks but this suited us. I believe N26 have recently changed their rules too, so many people are now looking for an alternative.

Regards

Pauline.

Southend steve

Posted: Sat Mar 28, 2020 10:38pm

Posts: 66

9 helpful points

Location: Roda

Joined: 4 Dec 2017

Posted: Sat Mar 28, 2020 10:38pm

Pauline excellently explained thank you steve

eraser

Posted: Sun Mar 29, 2020 10:40am

eraser

Helpful member

Posts: 258

186 helpful points

Location: Mar De Cristal

Joined: 8 May 2018

Posted: Sun Mar 29, 2020 10:40am

I can 100% confirm what Pauline has said! 

Thank you Pauline for this.

Anni20

Posted: Fri Sep 18, 2020 3:55pm

Anni20

Helpful member

Posts: 163

121 helpful points

Joined: 26 Dec 2019

Posted: Fri Sep 18, 2020 3:55pm

Based on the advice and information provided by Pauline I successfully opened a cajamar account. I visited the bank with my Passport, an electronic copy of my NIE, also an electronic copy of my house deeds which the banking officer did not look at. I was asked to come back the following day with proof of my Irish bank account going back some 20 months and my income, I took photo-shots of my bank account which showed regular wage deposits which they accepted.

The bank provided me with a bank certified (bank stamp) sheet of paper with all of my new banking details which I used to update my direct debit details with Energia Nordic and Avatel....I am in the process of updating my details with HiDROGEA...

Thanks to Pauline for all her time in finding out and sharing this information..

paulsav

Posted: Fri Sep 18, 2020 4:32pm

paulsav

Original Poster

Helpful member

Posts: 315

236 helpful points

Location: Yecla

Joined: 4 Dec 2015

Posted: Fri Sep 18, 2020 4:32pm

Anni20 wrote on Fri Sep 18, 2020 3:55pm:

Based on the advice and information provided by Pauline I successfully opened a cajamar account. I visited the bank with my Passport, an electronic copy of my NIE, also an electronic copy of my house deeds which the banking officer did not look at. I was asked to come back the following day with ...

...proof of my Irish bank account going back some 20 months and my income, I took photo-shots of my bank account which showed regular wage deposits which they accepted.

The bank provided me with a bank certified (bank stamp) sheet of paper with all of my new banking details which I used to update my direct debit details with Energia Nordic and Avatel....I am in the process of updating my details with HiDROGEA...

Thanks to Pauline for all her time in finding out and sharing this information..

Thanks Anni

I'm always pleased when someone acts upon my recommendation as its time we show Spanish banks they don't have the right to extort us non residents and now even blackmail residents to take extra services to keep their accounts free. Between us we may just bring Spanish banking closer to our UK standards. Hope you were shown how to use the app and get it in english too. You won't regret the move.

Regards 

Pauline 

Anni20

Posted: Wed Sep 23, 2020 12:09pm

Anni20

Helpful member

Posts: 163

121 helpful points

Joined: 26 Dec 2019

Posted: Wed Sep 23, 2020 12:09pm

In an update to my last post I want to share my experience of closing my Sabadell bank account.

I visited the bank with whom I opened my account last Thursday hoping to close my account. This however wasn’t possible as I had made a purchase on my credit card (error on my behalf) therefore the bank officer was unable to assist me there and then. She advised that once I had cleared my credit card I would be able to close my account online. I was a little dubious about this as I had read the account has to be closed in person in the branch where it was opened. On Saturday I was able to clear my c/c, once I did that I transferred the balance to my new cajamar account. I then called Sabadell customer services and asked them to close my account which happened after answering some security questions, and I’m delighted to say that on Monday 21st I received an email from Sabadell confirming closure of my account.

Hope this helps.

paulsav

Posted: Wed Sep 23, 2020 12:27pm

paulsav

Original Poster

Helpful member

Posts: 315

236 helpful points

Location: Yecla

Joined: 4 Dec 2015

Posted: Wed Sep 23, 2020 12:27pm

Anni20 wrote on Wed Sep 23, 2020 12:09pm:

In an update to my last post I want to share my experience of closing my Sabadell bank account.

I visited the bank with whom I opened my account last Thursday hoping to close my account. This however wasn’t possible as I had made a purchase on my credit card (error on my behalf) therefore the bank officer was unable to assist me there and then. She advised that once I had cleared my credi...

...t card I would be able to close my account online. I was a little dubious about this as I had read the account has to be closed in person in the branch where it was opened. On Saturday I was able to clear my c/c, once I did that I transferred the balance to my new cajamar account. I then called Sabadell customer services and asked them to close my account which happened after answering some security questions, and I’m delighted to say that on Monday 21st I received an email from Sabadell confirming closure of my account.

Hope this helps.

Good to know Anni for others contemplating changing, but very surprised they closed on telephone call. I, m not the only one who has been told must do in branch. Maybe as you had visited and re warned you were doing it they put notes on your account to allow phone closure. 

I, m sure you won't regret it, rather you, ll wish you,d done it years ago and saved the fees

Regards 

Pauline 

billfay

Posted: Sat Oct 3, 2020 2:27pm

Posts: 21

1 helpful points

Joined: 9 Dec 2016

Posted: Sat Oct 3, 2020 2:27pm

paulsav wrote on Sat Mar 28, 2020 9:37pm:

Hi, I have posted many replies to posts asking for any info on a Spanish bank account for non residents without fees. I am also constantly receiving private messages asking questions that I keep answerring with the same info, so I,m writing this as our experience of opening a account with Cajamar...

.... At this moment there are now many postings regarding resident accounts that used to be free now requiring extra conditions to keep their accounts free of charges too.

In March 2019, after 10+yrs of paying Sabadell over 2000€ in fees, I researched every Spanish bank and some internet only non Spanish banks for a fee free account with no conditions for a non resident. This took weeks of research and finally We opened a online account with Cajamar bank and closed our Sabadell account. We had to open in branch as the white paper NIE is not recognised by online applications. Residents can open online. The account is called "weferrent". Thankfully Cajamar have a dedicated english helpline that told me to go into branch to apply.

Before we went I translated all the questions I could think of in google translate as there is no guarantee of an english speaking person in branch, such as Sabadell offer. I also took all our direct debit infos with reference no,s to enable a switch service (however I wasnt convinced it would happen as smooth as Uk switch and as we had closed our old account on same day, I telephoned or emailed all our debit Co,s to confirm to ensure a smooth changeover). If your spanish is poor for phone use, write in google translate and send email in spanish. It did go smooth too as I changed the accounts on a date as far away as the next one was due.

We took our passports, NIE,s, copy of deeds for ID and last statement from Sabadell. We were not asked for any proof of income and although we were opening with a sizeable deposit (balance from Sabadell) we were given loads of info on a interest paying account called 360 but we declined this.

The bank "gestor" who dealt with us had no english nor did anyone else, but using my phone and google translate we managed successfully to open our account. It is an online account but if you want to do an "in branch" transaction there is for that month only a 7€ fee. That month no other fees even if you go in every day.

In 50yrs of banking in Uk I rarely go into our bank and havent even had a branch in my town for past 6years as they closed it. As said there is an english phone helpline.

The cards are free but take 2 wks to collect (so keep some cash to last for 2wks). On opening it appears "transfers" are not part of normal banking?? So a visit a few wks later and we had that service added to account. Needed tranfers to pay our accountant for doing our non resident tax and if we need to pay a builder/workman perhaps. Anyway ask for "transferias" when you open to save returning.

The atm use is free and you can deposit cash in the machine. We have not paid a cent in fees yet (1 year now) but I believe we will shortly for the non resident tax certificate which Sabadell charged 35€ ea and Cajamar is 25€ ea.

The website is in very good english and although the app wasnt available in english when we opened it they now have it available in english so we have found it perfect. 

I hope those that need this info will find it helpful and have the confidence to leave their present greedy banks as I know its not just Sabadell but most of them are now exploiting even more. I am also sure others will offer their experiences with their choice of banks but this suited us. I believe N26 have recently changed their rules too, so many people are now looking for an alternative.

Regards

Pauline.

Hi Paulsav,

Thank you for your brilliant response.That must have taken a great deal of groundwork.

I will be back in Ribera next thursday and will act on it then.

Best regards Bill Fay.

MartynF

Posted: Thu Oct 15, 2020 7:11am

Posts: 5

1 helpful points

Location: Camposol

Joined: 14 Oct 2020

Posted: Thu Oct 15, 2020 7:11am

Thank you for this Pauline - extremely useful. I notice you are using an accountant for your Non-Resident tax. 

I use this person: [email protected]   For £34.95 he does an excellent job using information provided on your IBI. You then print off the forms and make the tax payment at your bank or for an extra charge he can do it for you.

Anni20

Posted: Thu Oct 15, 2020 7:56am

Anni20

Helpful member

Posts: 163

121 helpful points

Joined: 26 Dec 2019

Posted: Thu Oct 15, 2020 7:56am

MartynF wrote on Thu Oct 15, 2020 7:11am:

Thank you for this Pauline - extremely useful. I notice you are using an accountant for your Non-Resident tax. 

I use this person: [email protected]   For £34.95 he does an excellent job using information provided on your IBI. You then print off the forms and make the tax payment at your bank or for an extra charge he can do it for you....

...

Hi Martyn

Thanks for the info re non-resident tax.....can you please clarify if you make your tax payment at your English or Spanish bank?

Thanks...

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