Spanish Bank account
Posted: Thu Jan 18, 2024 6:52pm
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
Posted: Thu Jan 18, 2024 7:30pm
Legendary helpful member
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)
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....
Read more...
...
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.
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....
Read more...
...
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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Posted: Mon Jan 29, 2024 7:18am
Legendary helpful member
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
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.
Posted: Mon Jan 29, 2024 8:52am
Legendary helpful member
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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