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Spanish Bank Account

Posted: Wed Jul 1, 2020 10:00am
8 replies154 views4 members subscribed
jar53

Posts: 17

Location: Almoradí

Joined: 20 Jun 2020

Although I live and work in England I have an apartment in Almoradi where I go for 2 or 3 weeks a year. I don't rent it out so no income from that. I keep a Spanish Bank Account open to pay the standing charge for water and electricity and to pay SUMA. Every 3 months the bank charge me 40+ euro but I don't know why. Does anyone know why this is please?

Herefordjack

Posted: Wed Jul 1, 2020 10:14am

Herefordjack

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Posts: 876

1090 helpful points

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Joined: 18 Dec 2017

Posted: Wed Jul 1, 2020 10:14am

Most Spanish banks have now imposed bank charges for resident and non resident accounts alike. This is of course in response to the tougher business environment they are all experiencing.

I am a resident who has an account with Sabadell, previously free but from January they imposed a 15 euros a quarter bank charge.

On this forum you'll find many recent threads on bank charges if you do a search. I think there may be one or two internet only bank options which still have no charges.

Good luck.

jar53

Posted: Wed Jul 1, 2020 10:36am

jar53

Original Poster

Posts: 17

Location: Almoradí

Joined: 20 Jun 2020

Posted: Wed Jul 1, 2020 10:36am

Herefordjack wrote on Wed Jul 1, 2020 10:14am:

Most Spanish banks have now imposed bank charges for resident and non resident accounts alike. This is of course in response to the tougher business environment they are all experiencing.

I am a resident who has an account with Sabadell, previously free but from January they imposed a 15 euros a quarter bank charge....

...

On this forum you'll find many recent threads on bank charges if you do a search. I think there may be one or two internet only bank options which still have no charges.

Good luck.

Thanks most helpful

Kimmy11

Posted: Wed Jul 1, 2020 1:27pm

Kimmy11

Legendary helpful member

Posts: 6869

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Joined: 8 Aug 2017

Posted: Wed Jul 1, 2020 1:27pm

Hi jar53,

As a non-resident, you would be better to open an account with one of the mobile banking companies that offer an IBAN (International Bank Account Number), such as Starling or N26; or if you already have a Transferwise account for currency exchange, you could also use their Borderless Account.

Kind regards,

Kim

jar53

Posted: Wed Jul 1, 2020 3:58pm

jar53

Original Poster

Posts: 17

Location: Almoradí

Joined: 20 Jun 2020

Posted: Wed Jul 1, 2020 3:58pm

Kimmy11 wrote on Wed Jul 1, 2020 1:27pm:

Hi jar53,

As a non-resident, you would be better to open an account with one of the mobile banking companies that offer an IBAN (International Bank Account Number), such as Starling or N26; or if you already have a Transferwise account for currency exchange, you could also use their Borderless Account....

...

Kind regards,

Kim

Thanks, I will look into that as I do have a Transferwise account. Thanks again.

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Kenbo

Posted: Thu Jul 2, 2020 8:27am

Kenbo

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Joined: 6 Dec 2017

Posted: Thu Jul 2, 2020 8:27am

jar53 wrote on Wed Jul 1, 2020 3:58pm:

Thanks, I will look into that as I do have a Transferwise account. Thanks again.

Recently Transferwise started to support direct debits,   I have moved mine from Bankia, working perfectly.

jar53

Posted: Thu Jul 2, 2020 9:34am

jar53

Original Poster

Posts: 17

Location: Almoradí

Joined: 20 Jun 2020

Posted: Thu Jul 2, 2020 9:34am

Thanks for all of the replies.

I was with Sabadell and had my insurance with them too. Then when Almoradi was hit with the storms last year they refused to pay out. The reason they gave was that the roof was not covered by the policy. So they have now lost at least one disgruntled customer.

Kimmy11

Posted: Thu Jul 2, 2020 9:57am

Kimmy11

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Posts: 6869

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Posted: Thu Jul 2, 2020 9:57am

Sorry to hear that jar53, but I'm not surprised.  We're also with Sabadell, but have our insurance with Liberty Seguros, who we've found very responsive.  Neighbours of ours, also with Sabadell, had switched their insurance from the bank to Liberty Seguros only one month before the floods and were paid out for "water ingress" damage, although they were not flooded.  

Apparently, the difference is flooding - water rising up - as opposed to ingress - water coming down - and you're not the first to say that their insurer has used "roof maintenance" as an excuse not to pay out.

Kind regards, 

Kim

jar53

Posted: Thu Jul 2, 2020 10:19am

jar53

Original Poster

Posts: 17

Location: Almoradí

Joined: 20 Jun 2020

Posted: Thu Jul 2, 2020 10:19am

Kimmy11 wrote on Thu Jul 2, 2020 9:57am:

Sorry to hear that jar53, but I'm not surprised.  We're also with Sabadell, but have our insurance with Liberty Seguros, who we've found very responsive.  Neighbours of ours, also with Sabadell, had switched their insurance from the bank to Liberty Seguros only one month before the floo...

...ds and were paid out for "water ingress" damage, although they were not flooded.  

Apparently, the difference is flooding - water rising up - as opposed to ingress - water coming down - and you're not the first to say that their insurer has used "roof maintenance" as an excuse not to pay out.

Kind regards, 

Kim

Thanks for your reply Kimmy 11. The rooftop is a communal area and I get that the community should have a policy in place. There are only 3 apartments in the building mine on the top floor plus 2 others. They are rented out so the tenants aren't bothered about building insurance. I thought I would have at least been covered for furniture etc. But no. So I've been paying insurance for nothing since 2012. We live and learn.

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