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Spanish Bank account

Posted: Thu Jan 18, 2024 6:52pm
6 replies5 members subscribed
Bruno789

Posts: 28

7 helpful points

Location: Vera Playa

Joined: 1 Jul 2023

Arriving at Vera Playa in Mid Feb, will need to set up a Spanish bank account..  have been recommended BBVA or CaixaBank but any further suggestion would be welcome.   thanks

DarioMartin

Posted: Thu Jan 18, 2024 7:30pm

DarioMartin

Legendary helpful member

Posts: 5306

6253 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Thu Jan 18, 2024 7:30pm

That’s a wide ranging question, and you won’t get many objective answers - including mine.

I’m with Sabadell and have been for 10 years now.  In all that time I have not paid one centimo in bank fees; it requires taking one of their “products” (very small investment account with a paltry 1.000€ in it) and having 700€ a month coming into the account.

I manage this by sending 700€ to Wise, then from Wise back to my Sabadell account which it sees as an external transfer and so meets the criteria.

I’m sure you are going to get a lot of people advising for / against banks.

As an aside if you are a Spanish Resident, Revolut now give a Spanish IBAN which gives you the convenience of a Spanish Bank along with the benefits of a multi-currency account and ability to easily transfer to different bank accounts in different countries (i.e. you’ll have a Spanish IBAN as well as a GB IBAN / Account/sort-code)

roland

Posted: Tue Jan 23, 2024 12:56pm

Posts: 27

14 helpful points

Location: Almería

Joined: 9 Jan 2024

Posted: Tue Jan 23, 2024 12:56pm

DarioMartin wrote on Thu Jan 18, 2024 7:30pm:

That’s a wide ranging question, and you won’t get many objective answers - including mine.

I’m with Sabadell and have been for 10 years now.  In all that time I have not paid one centimo in bank fees; it requires taking one of their “products” (very small investment account with a paltry 1.000€ in it) and having 700€ a month coming into the account....

...

I manage this by sending 700€ to Wise, then from Wise back to my Sabadell account which it sees as an external transfer and so meets the criteria.

I’m sure you are going to get a lot of people advising for / against banks.

As an aside if you are a Spanish Resident, Revolut now give a Spanish IBAN which gives you the convenience of a Spanish Bank along with the benefits of a multi-currency account and ability to easily transfer to different bank accounts in different countries (i.e. you’ll have a Spanish IBAN as well as a GB IBAN / Account/sort-code)

We have used BBVA for many years mainly because my wife's cousin worked all his life in the Paseo branch in Almeria. They are (or were) reasonably good but since staff have been axed and branches closed down I can no longer recommend them. My daughter uses Santander and says they are reasonably good. We have in the past also had accounts with what became Unicaja (Monte de Piedad y Caja de Ahorros) and Cajamar, but closed our accounts with them for excessive and unreasonable account charges.

Deishu

Posted: Mon Jan 29, 2024 6:56am

Posts: 60

22 helpful points

Location: Mojacar

Joined: 22 May 2019

Posted: Mon Jan 29, 2024 6:56am

DarioMartin wrote on Thu Jan 18, 2024 7:30pm:

That’s a wide ranging question, and you won’t get many objective answers - including mine.

I’m with Sabadell and have been for 10 years now.  In all that time I have not paid one centimo in bank fees; it requires taking one of their “products” (very small investment account with a paltry 1.000€ in it) and having 700€ a month coming into the account....

...

I manage this by sending 700€ to Wise, then from Wise back to my Sabadell account which it sees as an external transfer and so meets the criteria.

I’m sure you are going to get a lot of people advising for / against banks.

As an aside if you are a Spanish Resident, Revolut now give a Spanish IBAN which gives you the convenience of a Spanish Bank along with the benefits of a multi-currency account and ability to easily transfer to different bank accounts in different countries (i.e. you’ll have a Spanish IBAN as well as a GB IBAN / Account/sort-code)

Hi, what is the investment called with Sabadell? Can you sign up for the investment on line? I am still paying 20€ a quarter for having an account with them.

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DarioMartin

Posted: Mon Jan 29, 2024 7:18am

DarioMartin

Legendary helpful member

Posts: 5306

6253 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Mon Jan 29, 2024 7:18am

Deishu wrote on Mon Jan 29, 2024 6:56am:

Hi, what is the investment called with Sabadell? Can you sign up for the investment on line? I am still paying 20€ a quarter for having an account with them.

They used to have an account called “Expansion” which they’ve now rolled into a normal account, but becomes fee-free on taking an investment account etc.  

I’ve taken the Sabadell Garantía Fija 18

Deishu

Posted: Mon Jan 29, 2024 7:36am

Posts: 60

22 helpful points

Location: Mojacar

Joined: 22 May 2019

Posted: Mon Jan 29, 2024 7:36am

DarioMartin wrote on Mon Jan 29, 2024 7:18am:

They used to have an account called “Expansion” which they’ve now rolled into a normal account, but becomes fee-free on taking an investment account etc.  

I’ve taken the Sabadell Garantía Fija 18

Thanks for your reply. I was tempted to move my account from Sabadell now that the Mojacar branch is closed but their app works well and I don't need the hassle. 

DarioMartin

Posted: Mon Jan 29, 2024 8:52am

DarioMartin

Legendary helpful member

Posts: 5306

6253 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Mon Jan 29, 2024 8:52am

Deishu wrote on Mon Jan 29, 2024 7:36am:

Thanks for your reply. I was tempted to move my account from Sabadell now that the Mojacar branch is closed but their app works well and I don't need the hassle. 

The app *is* good is t it?  I very very very rarely visit the branch - everything I need to do I can do by app / website

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