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Every day bank

Posted: Wed Sep 21, 2022 6:59pm
14 replies330 views5 members subscribed
TimB

Posts: 26

2 helpful points

Location: Almería

Joined: 26 May 2022

Hi,

NLVs ready and we are on our way. We have HABC Euro accounts and Wyse accounts and cards. But do we need a separate Spanish account for everyday use? And what do people recommend?

Many thanks in advance. 

DarioMartin

Posted: Wed Sep 21, 2022 9:27pm

DarioMartin

Legendary helpful member

Posts: 4372

5006 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Wed Sep 21, 2022 9:27pm

Yes, you’ll need a Spanish account because certain direct debits can only be taken from a Spanish account.

You’ll get a whole host of differing opinions on banks all dependent on people’s own experience.  If all you need is a Spanish account to pay bills etc, then the Wefferent online only account offers all that for no fees, however should you need to visit a branch, you may incur charges for that.

Sabadell offer a fee-free account; used to be called Expansión, but now it’s just a Cuenta Sabadell following a re-branding.  As long as you take one of their “products” (i.e. investment account with minimum 1.000€ in it) and have 700€ a month going into the account, it is 100% fee-free, including no charges for cards 

TimB

Posted: Wed Sep 21, 2022 10:31pm

TimB

Original Poster

Posts: 26

2 helpful points

Location: Almería

Joined: 26 May 2022

Posted: Wed Sep 21, 2022 10:31pm

DarioMartin wrote on Wed Sep 21, 2022 9:27pm:

Yes, you’ll need a Spanish account because certain direct debits can only be taken from a Spanish account.

You’ll get a whole host of differing opinions on banks all dependent on people’s own experience.  If all you need is a Spanish account to pay bills etc, then the Wefferent online only account offers all that for no fees, however should you need to visit a branch, you may incur charges fo...

...r that.

Sabadell offer a fee-free account; used to be called Expansión, but now it’s just a Cuenta Sabadell following a re-branding.  As long as you take one of their “products” (i.e. investment account with minimum 1.000€ in it) and have 700€ a month going into the account, it is 100% fee-free, including no charges for cards 

Many thanks.  Helpful advice. 

Tim

Juliet Diaz

Posted: Thu Sep 22, 2022 7:53am

Juliet Diaz

Helpful member

Posts: 215

255 helpful points

Location: Vera Playa

Joined: 23 Aug 2019

Posted: Thu Sep 22, 2022 7:53am

Having a Spanish account will make life a little easier as a Spanish IBAN allows you to set up direct debits and payments for everything - non Spanish IBANs can't be used for official payments like taxes. Fees can be high but if you don't mind online banking Wefferent account from Cajamar and BBVA online are both free. I use N26 which is German but has Spanish IBAN. Great account but I've heard there's now a waiting list! 

TimB

Posted: Thu Sep 22, 2022 9:09am

TimB

Original Poster

Posts: 26

2 helpful points

Location: Almería

Joined: 26 May 2022

Posted: Thu Sep 22, 2022 9:09am

That is useful. Wise has a Spanish IBAN but I don’t know if it works for Spanish Direct Debits.  Thanks again. 

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MaggieB

Posted: Thu Sep 22, 2022 9:36am

MaggieB

Helpful member

Posts: 175

103 helpful points

Joined: 10 May 2020

Posted: Thu Sep 22, 2022 9:36am

Cajamar Wefferant account is free.  We set ours up in the bank.  Easy to use.

TimB

Posted: Thu Sep 22, 2022 9:42am

TimB

Original Poster

Posts: 26

2 helpful points

Location: Almería

Joined: 26 May 2022

Posted: Thu Sep 22, 2022 9:42am

That’s good. Many thanks. Did you need your Padrón first or can you set it up and then get Padrón ?

DarioMartin

Posted: Thu Sep 22, 2022 5:03pm

DarioMartin

Legendary helpful member

Posts: 4372

5006 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Thu Sep 22, 2022 5:03pm

TimB wrote on Thu Sep 22, 2022 9:09am:

That is useful. Wise has a Spanish IBAN but I don’t know if it works for Spanish Direct Debits.  Thanks again. 

Just on this, the Wise Euro balance is actually a Belgian IBAN.  It can be used for a variety of direct debits i.e. electricity, mobile phone (I know this for a fact as that is how I’m set up) but can’t be used for taxes or other official payments like yearly car tax to the Ayuntamiento

TimB

Posted: Thu Sep 22, 2022 5:16pm

TimB

Original Poster

Posts: 26

2 helpful points

Location: Almería

Joined: 26 May 2022

Posted: Thu Sep 22, 2022 5:16pm

That’s exactly what I wanted to know. Many thanks.  Tim 

Deishu

Posted: Mon Sep 26, 2022 9:29am

Posts: 35

12 helpful points

Location: Mojacar

Joined: 22 May 2019

Posted: Mon Sep 26, 2022 9:29am

DarioMartin wrote on Wed Sep 21, 2022 9:27pm:

Yes, you’ll need a Spanish account because certain direct debits can only be taken from a Spanish account.

You’ll get a whole host of differing opinions on banks all dependent on people’s own experience.  If all you need is a Spanish account to pay bills etc, then the Wefferent online only account offers all that for no fees, however should you need to visit a branch, you may incur charges fo...

...r that.

Sabadell offer a fee-free account; used to be called Expansión, but now it’s just a Cuenta Sabadell following a re-branding.  As long as you take one of their “products” (i.e. investment account with minimum 1.000€ in it) and have 700€ a month going into the account, it is 100% fee-free, including no charges for cards 

I too have a Sabadell bank called a Curenta Sabadell. This account is for Spanish residents and I was initially told there would be a nominal charge of €15 a quarter provided I pay €700 a month in. What annoys me about Spanish banks is they increase their charges as they think fit without informing you. It has suddenly gone to €18 a quarter and there was an additional charge of €20 for interest/commission on top. No explanation given!  I have never been told to keep a minimum of €1000 in my account so tread carefully.. 

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