Hi there, can anyone tell me if I need a Spanish bank account or can I use my euro account purchase a Spanish Property.
You can transfer EUR to your lawyer to complete from any bank anywhere. The lawyers have a duty to validate source of funds to comply with international financial crime regs. Many don’t bother
It’s always advisable to have an ES IBAN account of some description (traditional or neo bank) because some merchants’ systems still haven’t caught up with EU Regs - under which payments should be accepted from any EU member state’s IBAN
Posted: Tue Jan 25, 2022 10:20pm
Very helpful member
Wise best & cheap way to transfer money https://wise.com/us/send-money/
With a Spanish address you can open a Euro account with cheap charges https://n26.com/en-eu/open-bank-account-in-spain
Spanish Banks have high charges
Posted: Wed Jan 26, 2022 8:50am
Helpful member
Spanish banks do indeed have high charges, however the criteria for N26 is residence, not address.
The first question on the application is what is Country of Residence - Input UK & you get:
"Waiting List
We’re not in your region yet, but you can sign up for our waiting list and we’ll let you know when we’re available there"
Posted: Wed Jan 26, 2022 9:27am
Thank you for your reply, your advice is appreciated.
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Posted: Wed Jan 26, 2022 9:29am
Thank you, your advice about money transfers is very helpful.
Posted: Wed Jan 26, 2022 12:14pm
You can pay for a property from any account but you must have a Spanish bank account to pay for the property services. So the solicitor will need a Spanish account during the purchase process.
Posted: Wed Jan 26, 2022 2:00pm
Very helpful member
Andrew14 wrote on Wed Jan 26, 2022 8:50am:
Spanish banks do indeed have high charges, however the criteria for N26 is residence, not address.
The first question on the application is what is Country of Residence - Input UK & you get:
Read more...
"Waiting List
We’re not in your region yet, but you can sign up for our waiting list and we’ll let you know when we’re available there"
N26 is an online European bank, 'now operating in Spain'. There are no branches; all operations and transactions are implemented from the N26 app (therefore you need a smartphone to open and use an account). A NIE is a requirement to open an account with N26 in Spain.
https://www.movingtobarcelona.com/money-and-banking-in-spain/
I never had a problem opening one with an NIE number and address to issue card my address in Spain, but correct you cannot open one as a sole UK resident they have stopped operating in the UK.. Great service and if people can get one.
.
Posted: Wed Jan 26, 2022 2:08pm
Holaitsdavid wrote on Wed Jan 26, 2022 2:00pm:
N26 is an online European bank, 'now operating in Spain'. There are no branches; all operations and transactions are implemented from the N26 app (therefore you need a smartphone to open and use an account). A NIE is a requirement to open an account with N26 in Spain.
https://www.movingtobarcelona.com/money-and-banking-in-spain/
...Read more...
...
I never had a problem opening one with an NIE number and address to issue card my address in Spain, but correct you cannot open one as a sole UK resident they have stopped operating in the UK.. Great service and if people can get one.
.
Hi Thank you for the info about N26 bank. I will certainly look at this option once I have an NIE number.
DavidL wrote on Wed Jan 26, 2022 12:14pm:
You can pay for a property from any account but you must have a Spanish bank account to pay for the property services. So the solicitor will need a Spanish account during the purchase process.
I've being paying for my property services without an ES bank for 4 years. No problems, just pay online with a Wise card(BE IBAN account).
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