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How can I manage my finances in the uk from Spain?

Posted: Mon Dec 11, 2017 6:09pm
5 replies101 views3 members subscribed
Dianne 08

Posts: 10

8 helpful points

Location: Roquetas de Mar

Joined: 11 Dec 2017

My husband and I are retiring to Roquetas e Mar early next year. Can we keep our bank account in the U.K to pay our mortgage as we shall be renting our house .

We have other rented properties in the UK and so we need to be able to receive payments from them and also to pay expenses occurred from the properties.

Any advice please? 

Dianne 08

Rascalmate

Posted: Mon Dec 11, 2017 7:06pm

Rascalmate

Helpful member

Posts: 220

290 helpful points

Location: Garrucha

Joined: 28 Nov 2016

Posted: Mon Dec 11, 2017 7:06pm

No problem with keeping a UK bank account, but ensure you have internet account facilities which allow transfers from your account in  a Spanish bank account. Don't assume - ask the question.

UK National State Pensions will have to be transferred direct to a Spanish account, if you take up residency. The benefit is the transfer is free and no commission deduction. Contact the Pensions Agency if you receive or will soon be receiving State Pensions.

Private pensions can be made to UK or Spanish accounts, you will need to make the appropriate arrangements.

Hope this helps, regards Al 

Dianne 08

Posted: Mon Dec 11, 2017 8:34pm

Dianne 08

Original Poster

Posts: 10

8 helpful points

Location: Roquetas de Mar

Joined: 11 Dec 2017

Posted: Mon Dec 11, 2017 8:34pm

Thanks for the info. Things are now a little clearer.

Thanks again

Dianne 

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Rascalmate

Posted: Mon Dec 11, 2017 9:17pm

Rascalmate

Helpful member

Posts: 220

290 helpful points

Location: Garrucha

Joined: 28 Nov 2016

Posted: Mon Dec 11, 2017 9:17pm

Your welcome, regards Al

Maureen73

Posted: Tue Dec 12, 2017 12:45pm

Posts: 88

40 helpful points

Location: Roquetas de Mar

Joined: 31 Jan 2017

Posted: Tue Dec 12, 2017 12:45pm

Dianne 08 wrote on Mon Dec 11, 2017 6:09pm:

My husband and I are retiring to Roquetas e Mar early next year. Can we keep our bank account in the U.K to pay our mortgage as we shall be renting our house .

We have other rented properties in the UK and so we need to be able to receive payments from them and also to pay expenses occurred from the properties....

...

Any advice please? 

Dianne 08

Hi Dianne, I have also got an account which I have had for many years, and I came to roquetas for good in 2000. I do not have much trouble with it and just ask for internet banking and use that for moving your money around..You will find it better to also open  a bank account in Roquetas for every day use and can also get internet banking with them. I use the sabadell as they usually have english speaking persons on their counters, Been with them since 2000.

Just understand the Spanish ways are not always prompt. And Manana doesn't always mean things happen the next day.

Patience is a virtue  as they say.

Wishing you all the best in your new adventure.

Maureen73

Dianne 08

Posted: Tue Dec 12, 2017 4:16pm

Dianne 08

Original Poster

Posts: 10

8 helpful points

Location: Roquetas de Mar

Joined: 11 Dec 2017

Posted: Tue Dec 12, 2017 4:16pm

thank you Maureen this is most helpful.

Dianne

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