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Best Spanish bank

Posted: Mon Jan 10, 2022 3:25pm
6 replies81 views3 members subscribed
Gav55

Posts: 7

Location: Mijas Costa

Joined: 4 Sep 2021

In the process of buying in Mijas. We are at the stage of opening a Spanish bank account. Lawyer taking us to Santander to assist with this.  My question is 

What is best bank account  for non residents who transfer funds from uk to pay bills etc Don’t want to pay huge charges

Thank you in advance of any ad

Andrew14

Posted: Tue Jan 11, 2022 9:14am

Posts: 116

44 helpful points

Location: Vélez-Málaga

Joined: 26 Mar 2019

Posted: Tue Jan 11, 2022 9:14am

Gav, we used a money transfer company "Currencies Direct" to transfer our house purchase & other funds, for nil charges & good exchange rate - There are other money transfer companies to check out, as rates change over time.

The attraction was that Currencies have a UK bank account, so no foreign transfer charges from my UK bank. Currencies then transfer to your Spain bank without charges

As far as "the best Spanish bank" is concerned, we are still with the high street bank we joined when we bought our house. Service has been great, but they make quarterly charges which do add up.

I've look at the nil charges "internet" banks such as Wise but there's a doubt as to whether your utilities suppliers will accept Direct Debit from these banks. Hopefully if someone is aware of a low cost bank from which utilities will accept DD's, they will shout up

Gav55

Posted: Tue Jan 11, 2022 3:52pm

Gav55

Original Poster

Posts: 7

Location: Mijas Costa

Joined: 4 Sep 2021

Posted: Tue Jan 11, 2022 3:52pm

Thanks Andrew

Bryan61

Posted: Mon Jan 17, 2022 11:58am

Posts: 19

5 helpful points

Location: Mijas Golf

Joined: 25 Apr 2021

Posted: Mon Jan 17, 2022 11:58am

Our lawyer and many other people told us that Santander is very poor. We have used Banco Sabadell who have been pretty good but most banks in Spain are pretty useless to be honest.

Best thing to do for everyday expenses is get a Revolut card and load it up with £ and you will then get the best exchange rates and don't have to put your cash in a bank. However, you will need the bank account to pay your utility bills.

Gav55

Posted: Wed Jan 19, 2022 8:38am

Gav55

Original Poster

Posts: 7

Location: Mijas Costa

Joined: 4 Sep 2021

Posted: Wed Jan 19, 2022 8:38am

Santander take 16 euro per month for maintaining your account. Can any one tell me if the other banks are cheaper. Thanks Gav

Bryan61

Posted: Wed Jan 19, 2022 11:30am

Posts: 19

5 helpful points

Location: Mijas Golf

Joined: 25 Apr 2021

Posted: Wed Jan 19, 2022 11:30am

Banco Sabadell take 40 euros a quarter for non residents. For residents it is 18 euros a quarter.

Gav55

Posted: Wed Jan 19, 2022 12:35pm

Gav55

Original Poster

Posts: 7

Location: Mijas Costa

Joined: 4 Sep 2021

Posted: Wed Jan 19, 2022 12:35pm

Bryan61 wrote on Wed Jan 19, 2022 11:30am:

Banco Sabadell take 40 euros a quarter for non residents. For residents it is 18 euros a quarter.

Thanks for your quick reply.

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