Starling Bank euro account

Posted: Wed Jul 8, 2020 3:58pm

7 replies140 views4 members subscribed

Posts: 17

Joined: 5 May 2019

Hi, I am in the process of purchasing a new build property, completion hopefully end of August. This will be a holiday home so I will be non-resident. Do you have to open a Spanish bank account to set up direct debits, etc, for water, utilities, insurance, etc? I am aware of the different bank accounts on offer and the charges. Does anyone have a Starling Euro bank account and if so can they use this to set up their dd's and so's? I am sure its not as straightforward as it sounds or is it? I have been told by a few people that I will have to open an account with a Spanish bank. Final payment for the property will be done through a currency exchange so not sure why I would need a Spanish bank account unless its an absolute requirement with the Spanish utilities, etc. Any advice would be appreciated.

Reply
View 7 replies

Posted: Thu Jul 9, 2020 7:15am

Kenbo

Very helpful member

Posts: 1018

810 helpful points

Location: La Florida

Joined: 6 Dec 2017

Posted: Thu Jul 9, 2020 7:15am

Joanne

There are lots of posts on here covering your question.

Many non residents have closed their Spanish bank accounts and turned to the newer providers.

Personally I have both a Starling and a Transferwise account but opted to use Transferwise for my direct debits.

My research told me that the prefix of the Starling IBAN number GB could be a little problematical hence my decision to go with Transferwise which works well for the regular direct debits.

However, others have said that they use their Starling account, the above is just my personal experience.

Also I believe some have used N26 account but you would need to use your Spanish address to set this up, again, more info on N26 in other posts, do a few searches on this site using key words and you will find a glut of information.

Paulsav on this site recommends a free account from Cajamar but this wouldn't work for me personally as the nearest branch is too far away, we all have our personal preferences but you are in the right place for info.

I just find Transferwise borderless account convenient as I have had an account with them since their start up and use this to transfer funds to trades people in Spain, it also comes with a debit card which can be used in the usual way for purchases whilst in Spain,

Ken.

Posted: Thu Jul 9, 2020 10:43am

paulsav

Super helpful member

Posts: 1376

1011 helpful points

Location: Villena

Joined: 4 Dec 2015

Posted: Thu Jul 9, 2020 10:43am

Kenbo wrote on Thu Jul 9, 2020 7:15am:
Joanne
There are lots of posts on here covering your question.

Read more...

Many non residents have closed their Spanish bank accounts and turned to the newer providers.
Personally I have both a Starling and a Transferwise account but opted to use Transferwise for my direct debits.
My research told me that the prefix of the Starling IBAN number GB could be a little problematical hence my decision to go with Transferwise which works well for the regular direct debits.
However, others have said that they use their Starling account, the above is just my personal experience.
Also I believe some have used N26 account but you would need to use your Spanish address to set this up, again, more info on N26 in other posts, do a few searches on this site using key words and you will find a glut of information.
Paulsav on this site recommends a free account from Cajamar but this wouldn't work for me personally as the nearest branch is too far away, we all have our personal preferences but you are in the right place for info.
I just find Transferwise borderless account convenient as I have had an account with them since their start up and use this to transfer funds to trades people in Spain, it also comes with a debit card which can be used in the usual way for purchases whilst in Spain,
Ken.

Hi Ken, I definitely do recommend Cajamar, but can I ask, do you pay any fees with your Transferwise account? I use them to send funds to my spanish account with a fee, but you mention paying tradesmen does that also come with a fee. I do transfers free from my Cajamar account to anyone else so interrested if you get these transfers free as they charge to transfer and exchange to my spanish bank.

Regards

Pauline.

Reply

Posted: Thu Jul 9, 2020 10:51am

Kenbo

Very helpful member

Posts: 1018

810 helpful points

Location: La Florida

Joined: 6 Dec 2017

Posted: Thu Jul 9, 2020 10:51am

paulsav wrote on Thu Jul 9, 2020 10:43am:
Hi Ken, I definitely do recommend Cajamar, but can I ask, do you pay any fees with your Transferwise account? I use them to send funds to my spanish account with a fee, but you mention paying tradesmen does that also come with a fee. I do transfers free from my Cajamar account to anyone else so i...

Read more...

...nterrested if you get these transfers free as they charge to transfer and exchange to my spanish bank.
Regards
Pauline.

Hi Pauline

Usually a very small fee but no charges to run the account.

Reply

Posted: Thu Jul 9, 2020 11:08am

paulsav

Super helpful member

Posts: 1376

1011 helpful points

Location: Villena

Joined: 4 Dec 2015

Posted: Thu Jul 9, 2020 11:08am

Kenbo wrote on Thu Jul 9, 2020 10:51am:
Hi Pauline
Usually a very small fee but no charges to run the account.

Thanks Ken, and direct debits and atm use all free? Upto now only fee I pay for all my banking is the fee from Transferwise to exchange and transfer(£3.95 per £1k). Do they send your Non Resident Certificate to Hacienda, (with a fee of course) or do you have to do that yourself.

Regards

Pauline.

Reply

Posted: Thu Jul 9, 2020 11:15am

Kenbo

Very helpful member

Posts: 1018

810 helpful points

Location: La Florida

Joined: 6 Dec 2017

Posted: Thu Jul 9, 2020 11:15am

paulsav wrote on Thu Jul 9, 2020 11:08am:
Thanks Ken, and direct debits and atm use all free? Upto now only fee I pay for all my banking is the fee from Transferwise to exchange and transfer(£3.95 per £1k). Do they send your Non Resident Certificate to Hacienda, (with a fee of course) or do you have to do that yourself.
Regards

Read more...

Pauline.

Direct debits all free but for cash withdrawals at atm I use my Santander card.

As for non res cert, I have only moved my dd in Jan and haven't dealt with that yet but fairly sure Transferwise wouldn't do this.

Reply

Posted: Thu Jul 9, 2020 12:14pm

joanne46

Original Poster

Posts: 17

Location: El Raso

Joined: 5 May 2019

Posted: Thu Jul 9, 2020 12:14pm

Kenbo wrote on Thu Jul 9, 2020 7:15am:
Joanne
There are lots of posts on here covering your question.

Read more...

Many non residents have closed their Spanish bank accounts and turned to the newer providers.
Personally I have both a Starling and a Transferwise account but opted to use Transferwise for my direct debits.
My research told me that the prefix of the Starling IBAN number GB could be a little problematical hence my decision to go with Transferwise which works well for the regular direct debits.
However, others have said that they use their Starling account, the above is just my personal experience.
Also I believe some have used N26 account but you would need to use your Spanish address to set this up, again, more info on N26 in other posts, do a few searches on this site using key words and you will find a glut of information.
Paulsav on this site recommends a free account from Cajamar but this wouldn't work for me personally as the nearest branch is too far away, we all have our personal preferences but you are in the right place for info.
I just find Transferwise borderless account convenient as I have had an account with them since their start up and use this to transfer funds to trades people in Spain, it also comes with a debit card which can be used in the usual way for purchases whilst in Spain,
Ken.

Thanks very much for your help.

Reply

Posted: Thu Jul 9, 2020 1:31pm

Kimmy11

Legendary helpful member

Posts: 6870

12563 helpful points

Location: Formentera Del Segura

Joined: 8 Aug 2017

Posted: Thu Jul 9, 2020 1:31pm

Hi Joanne,

"I have been told by a few people that I will have to open an account with a Spanish bank." This would be necessary if you were planning to become resident, because the Spanish authorities mandate payment of a regular sum, or a lump sum, into a Spanish bank account for a minimum of 3 months, but as you say you're not planning to become resident, this shouldn't be necessary.

Kind regards,

Kim