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Always Baking wrote on Fri Jun 19, 2020 12:37pm:
Do you have to pay in a set amount each month from uk ? l am 62 female. , so not pensiin age yet Thanks
Before having Residencia we had to pay in 700€ a month to get free banking, however, I think that has now changed, others will be able to advise on current situation, after Residencia no amount stated just the regular monthly pensions going in.
Posted: Fri Jun 19, 2020 6:42pm
Legendary helpful member
Hi Always Baking (that made me laugh, my husband's the same - always hot, that is!),
We're with Sabadell, who introduced charges for Residents accounts, as well as Non-residents, earlier this year. The fee is Eu 15 per quarter, but a Resident can negate this by having a pension paid direct to their Spanish account, plus buying another product, such as an insurance or savings account. Bank insurances are generally more expensive than other providers, such as Liberty Seguros.
I wish I'd seen this sooner, as it may be too late, but as Bankinter are offering to refund the commission charged if you buy another product, I'd buy their Buildings/Contents cover (not Health insurance, it will be expensive) and then cancel it at renewal (you need to give a month's notice in writing to do this in Spain) and get it cheaper elsewhere. Even though the insurance is likely to be Eu 50 - 100 more expensive than comparable cover, it sounds like it will be worth it to get the commission back.Hi Always Baking
I bank with Sabadell in Moraira. As others here have said, there are always charges. That said, I’ve found them brilliant. Website is great and if I’ve needed to phone from the U.K., they’ve been just as helpful. On site, they seem to have staff that speak a number of languages. Well worth the charges in my opinion 🤪🥂
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