Opening bank accounts - Advice on best options please?

Hi I have the Sabadell Key Account. The fee I pay for this account is €30 quarterly. I have found it to be the most cost effective account for me as a Non Resident, as the Bank Card annual fee is included, as is the use of the card in shops. I have been with them since 2006 and to be honest everything is running smoothly so I’m loathe to ‘shop’ around. I have their banking app on my phone and it works well for checking my account, especially when I’m back in the U.K.

Please be aware if you are not already, that as a Non Resident you will be subject to fees every 2 years with Sabadell ( All Banks take these fees but not sure if all banks do it every 2 years) the fee is Petición Certificado No Residencia which I believe is paid to Government/Police to confirm your Non Resident status. I’m sure there are others on here who will correct me if I am wrong 😊 You can pay this fee and fill in the required documentation yourself if you so wish and it will be cheaper than the bank doing it, details can be found on Agencia Tributaria website.

I can’t comment on the bank transfer, however when we purchased our apartment (2006) we weren’t given the option and took a Bank Draft to the Notary on signing day. It was a while ago, so maybe things have changed and I’m sure Sabadell will be able to tell you.

If you prefer to do your banking on the internet check out https://www.bbva.es/eng/productos/ficha/cuenta-online-bbva-sin-comisiones/0CA0000245

Enjoy your scouting trip! 

Thanks for the info, very useful.

I use Sabadell and your first card is free of fees but be aware if you have a second card you will pay an annual fee of €18.

We used Moneycorp to transfer money for our house purchase in Spain, we did it in several transfers keeping them below €50000 to save a bit on fees.

There are other charges that will be debited depending on the type of transactions you do once here but that is how it works here.

Overall Sabadell seems to be a good bank to use in Spain.

Hope this helps.

Thanks Paolo. It grates a bit to have to pay fees for the bank to do things which are all free over here!

I agree but that’s the way it is here.

Moneycorp offer good exchange rates and were prompt with the transfers and I still use them for currency transfers to our Sabadell account.

We found it easy to buy as the lawyers did the registration at the Notary and set up direct debits for utilities.

I also have an Account with Sabadell and pay 30 e 3-4 times per annum  - they pay my Water and Electricity bills, community and annual tax and have even couriered monies to various venues in my behalf - they appoint a dedicated assistant when you open an Account and this person    is responsible for assisting you

If you are "scouting" it is easy to grab the first recommendation in terms of service and facilities.

I have lived here for ten years and can offer some advice.

BANKING - Look at the options.   In the past I have had accounts with three banks but settled on Bankia about seven years ago.

I pay no fees.

They are responsive and despite my intention to communicate in Spanish they insist on talking to me in English.

So they get my personal recommendation.  However there will be countless others who will dispute this and will want to offer reasons why their own personal choice is the best option.   So have a chat with a few of them and go with whichever makes you feel comfortable.

MONEY TRANSFERS - for small amounts up to a few hundred pounds there are lots of online services which are adequate and if they are less secure then the risk is not great.   However if you are intending to transfer thousands rather than hundreds I would always want a human person to be on the end of the phone or even better to be in a local office.    The longest establish company with offices in this area is CURRENCIES DIRECT.  I have used their Javea office but they also have a Moraira branch.  You will also find that the end result (ie cash in your account) is better than event the insecure online services.

I hope your scouting is successful - and have a look at La Sella.

Cheers 

Thanks Woolly, that's an interesting post. I've just had a look at Bankia's website. Do you have a Cuenta ON account?  That would probably suit me as I am used to doing all my banking online anyway. Any disadvantages? The main things I would be doing, at least until I reach pension age, is to be transferring regular funds from the UK to my Spanish account, withdrawing cash via ATMs, paying regular bills via direct debit, and using a credit card for everyday purchases.

I guess you must go into branch or telephone them sometimes if they insist on dealing with you in English!

I intend to look at La Sella, in fact I've listed two or three houses on the golf course complex, although I'm rather put off by their communal fees, which are a bit steep for what amounts to use of a pool and the keeping tidy of communal areas.

Banking - I do everything on line with Bankia and occasionally I call into the branch to sign any officially papers.  

I have a number of accounts with them and they tend to move my funds around to gain the best rates although these days it isn't a great deal.

I think that the banking industry had a bad time a few years ago and some of them went to the wall.  So these days I get the feeling that they are trying harder to hold onto their clients.

Transfers - Many of my neighbours use Currency Direct for regular pensions transfers etc. . .

La Sella - The service charges on La Sella are high but you get what you pay for.   We have weekly street cleaning.  On site security patrols.  General maintenance.  If you are planning on having some time away from here you will be encouraged to learn that in the last twelve months we have had no break-ins.   The previous year the only burglary was that in a villa that was occupied by holiday makers who thought it was safe to leave all windows and doors open.  Just a few months ago La Sella was adopted by the Pedreguer community and so it is likely that our fees will be reduced.

If you are a golfer then the convenience of the La Sella course is a big benefit.   There are three 9 holes of varying toughness.

Anyway - good luck with your scouting.