Where best to bank for DDs. - Page 2

Thanks.

I’m leaning towards Wise though they say they are not a Bank and there is a maximum of around £15k that can be held there. Perhaps that is why Spanish banks refuse setting up a direct debit with Wise … although “ Merchants are required by EU law to accept IBANs from other members of the European Economic Area (EEA)” 

Being a Spanish resident I opened an N26 account but at the moment still need a Spanish based bank to pay my Spanish income tax, N26 is not acceptable as they are Germany based, not sure about Wise but if they are based in Belgium I suspect they too will not be acceptable. Until the recent change to Caixa I was with Bankia and had not paid any charges for over 5 years provided I had a minimum of €500 transferred from the UK every month together with 2 credit card transactions. DD was never a requirement, waiting now to see if there are any changes now it is Caixa.

Thanks.

I will remain a visitor with a property - for now - and won’t be making any regular deposits. I over-transferred money to my lawyer and has to use that surplus by paying off DDs for some time to come!

I use Cajamar since 2008 and never had a problem. They speak several languages and especially are very courteous. Good luck with your new property.

In Fuengirola? And do you have incoming and outgoing funds on a regular basis? Are you a resident? The message I’m getting is that as long as there is regular income into a bank of over anout €1000 per month, the charges are either small or there are none. 

I am not resident. I live in Ireland and can operate my account online same as any Irish bank. Just ask them to have your account in English as soon as you sign in. Of late their App only has Spanish which is not best as my Spanish is not fluent.

I use Cajasur Banco I  San Luis de Sabinillas.  Have had it for 10 years.  Advisable to get the app.  No dramatic charges.  Lovely Bank Manager who speaks a modicum. Of English.  I can email her and she replies by next morning.  Just don't get a credit card they are expensive.  We used to transfer about 8k per year in four stages and weren't charged anything.  Direct debits no problems.

I lived in Fuengirola for years, tried many banks for various things, everyone of them simply took money when they felt like it, if I asked what for?.... always a smile back as they replied... "commision".. "ad min charge".... etc, none of this is ever mentioned when opening the account, finally, having many friends and contacts, over many, many years I never heard any one person who did not experience the same..... !

Caixa is now the largest and it is a good bank. They do charge quarterly fees of about €25 but it's worth it as there are no other charges except when you pay a local one-off invoice or bill

Thanks to all. I have sorted it all by having Wise as one of my banks and using N26 for my Direct Debits. N26 has a Spanish IBAN and so was more readily accepted by the Services suppliers. For an N26, a Spanish domestic address is required.