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Opening a bank account

Posted: Tue Dec 4, 2018 6:15am
6 replies95 views6 members subscribed
Claire27

Posts: 4

Location: Daya Vieja

Hi, we are now in the process of purchasing a property in Daya Vieja and need to open a Spanish bank account. Any recommendations would be great as we don't want to be paying excessive charges for this service and it needs to be English conversant. Thank you

RayD

RayD

Legendary helpful member

Tue Dec 4, 2018 9:53am

Posts: 3339

Location: Catral

2308 helpful posts

Posted: Tue Dec 4, 2018 9:53am

Most, if not all, Spanish banks charge comisiones for non-resident accounts and if you don't have a regular amount of money paid in. They charge about 35 € a quarter.

It depends on what your long term plans are. If you intend staying in Spain more than 90 days, you have to become resident. You don't have a choice. So, in that case a non-resident account now can become a resident one later on. If you are staying more than 183 days in any one year in Spain, you automatically become a tax resident in Spain and it makes sense to have your pension/salary paid into you Spanish bank.

I personally use Bankia and am very happy with them. Others here will recommend their own banks, so it's a wide field.

Most banks will have someone who speaks a bit of English, but don't depend on it. It is Spain and the onus is upon us to learn the language and not the other way round. Not many banks in Milton Keynes speak Spanish!

Kimmy11

Kimmy11

Super helpful member

Tue Dec 4, 2018 1:04pm

Posts: 1606

1887 helpful posts

Posted: Tue Dec 4, 2018 1:04pm

If English speaking is important, open an account at Sabadell in Benijofar.  Sabadell has a very good online service and probably the largest branch network of all the Spanish banks.  I think there's a Sabadell branch in Daya Vieja: they probably don't speak English, but you'll be able to use the ATM there.  When you need to go into the branch, Benijofar is only a 5 minute drive away.

Wendy99

Wed Dec 5, 2018 8:21am

Posts: 81

Location: Benijofar

33 helpful posts

Posted: Wed Dec 5, 2018 8:21am

Hi we live in daya vieja and there are no banks at all. The nearest Sabadel is in San fulgencio. It takes 30 minutes to walk and if you get there at 8.30 am nobody is there. Their quarterly charge is E38 at the moment without any cards.

Wendy 

RayD

RayD

Legendary helpful member

Wed Dec 5, 2018 9:34am

Posts: 3339

Location: Catral

2308 helpful posts

Posted: Wed Dec 5, 2018 9:34am

Isn't there a Sabadell or BBVA in Daya Nueva near the village shop on the main street? It's nearer than San Fulgencio.

Kimmy11

Kimmy11

Super helpful member

Wed Dec 5, 2018 9:40am

Posts: 1606

1887 helpful posts

Posted: Wed Dec 5, 2018 9:40am

You're correct Wendy, the Sabadell branch is in Daya Nueva, not Daya Vieja, but depending on which end of the village you live, I'd have thought that's quicker than getting to San Fulgencio? 

They do seem to make up the quarterly charges as they go along - just this week, I've seen forum members quote €34, €35, €36 and now €38 per quarter for non resident accounts.  Also, non residents have to pay for the certificate required every 2 years, which banks collect on behalf of the State - when we had to pay this before becoming residents, it was €37 each, in addition to the quarterly account charge levied by the bank.  Of course, if you're resident and pay €700 per month into your account, you wouldn't pay these charges.

We have a Sabadell branch in Formentera del Segura, but as with so many of these small, village branches, you need to speak Spanish. Benijofar is only a 5-10 minute drive from Daya Vieja and the branch there, including the manager, has English speakers.

Banking for non residents in Spain is expensive compared to the UK, where we've been used to free banking for years.  The reasons I chose Sabadell is because of the largest branch network (many non resident accounts charge for using other banks' ATMs) and their online service.

Honest Mike

Honest Mike

Helpful member

Wed Dec 5, 2018 1:12pm

Posts: 78

Location: Daya Vieja

60 helpful posts

Posted: Wed Dec 5, 2018 1:12pm

Has the Sabadel in Daya Nueva not closed?  There is a cashpoint there.

I am a Sabadel customer in Benijofar and no complaints.  When there go in and they are very helpful.  When not there I can e mail them.

But also look at BBVA (Rojales).  They have a fee free account.  I would have one but cant open it without a Spanish phone number as its all done on line.  When I get over I will get a spanish sim, open the account and then change the phone number afterwards.  Thats 140 euros saved per year.

Claire enjoy Daya Vieja.  We love it, great people,great surroundings, could not be better.  Wise choice.

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