Would like to close my Spanish bank account and pay all direct debits for services in Spain with my UK bank account. Can this be done?
Would like to close my Spanish bank account and pay all direct debits with my UK bank account.Can this be done
Would like to close my Spanish bank account and pay all direct debits with my UK bank account.Can this be done
Posted: Thu Mar 28, 2024 9:36am
Legendary helpful member
Not a definitive answer, but I very much doubt it and it would cost you a small fortune in banking charges on your UK account in currency exchange /conversion fees.
Why not open a Wise account which will give you the IBAN number you require.
Lynn
Posted: Thu Mar 28, 2024 9:37am
Very helpful member
Set up a Wise bank account for yourself, online banking, Good exchange rates, Money transfer almost immediately,
A lot of UK ex pat use this Bank,
Best of luck 👍
Posted: Thu Mar 28, 2024 9:49am
GrahamLynn wrote on Thu Mar 28, 2024 9:36am:
Not a definitive answer, but I very much doubt it and it would cost you a small fortune in banking charges on your UK account in currency exchange /conversion fees.
Why not open a Wise account which will give you the IBAN number you require.
Read more...
Lynn
Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account
As alluded to, most of your direct debits can't be made with a non EU IBAN so you would need to open an account with one of the many online bank accounts such as Wise but there are others. Make sure you select one with a EU IBAN and Wise fits the bill.
The only problems some people seem to have is paying taxes with the online accounts.
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Posted: Thu Mar 28, 2024 10:00am
Legendary helpful member
Trevor34 wrote on Thu Mar 28, 2024 9:49am:
Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account
I thought you were asking about a traditional UK bank account.
Revolut is similar to the Wise account, so as long as your Direct Debits are set up with the EU IBAN, then you are doing what the vast majority of non residents are already doing
Lynn
Posted: Thu Mar 28, 2024 12:06pm
Thanks Lynn very much appreciated
Posted: Fri Mar 29, 2024 9:55pm
Helpful member
Trevor34 wrote on Thu Mar 28, 2024 9:49am:
Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account
Hi Trevor34
Revolut uses a GB Iban so no good for DD's I am afraid, as others have said open a Wise account myself included has one to pay all the bills.
I use my Revolut to exchange money and spending with while in Spain, I also have a Starling Euro account which is very usefull.
Regards
Andrew
Posted: Fri Mar 29, 2024 11:19pm
Aspen1992 wrote on Fri Mar 29, 2024 9:55pm:
Hi Trevor34
Revolut uses a GB Iban so no good for DD's I am afraid, as others have said open a Wise account myself included has one to pay all the bills.
Read more...
I use my Revolut to exchange money and spending with while in Spain, I also have a Starling Euro account which is very usefull.
Regards
Andrew
Thanks Andrew
Posted: Sat Mar 30, 2024 10:52am
Helpful member
Yes, the key point is that companies can't refuse to accept an IBAN from another EU/EEA country
IBAN discrimination: What to do if a company doesn’t accept your IBAN - Wise
I'd be minded to say they should still be able to take DDs from a GB IBAN but the hassle of trying to get them to do this is probably so extreme so as to not to bother - especially when there is a relatively ready made solution with Wise - who provide you with a BE IBAN.
(Note as always - not a bank, so no FSCS protections so don't keep your life savings in there!)
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