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Bank recommendations ..

Posted: Sat Jan 7, 2023 11:58am
23 replies678 views6 members subscribed
Bigronnie

Posts: 18

2 helpful points

Location: Javea / Xàbia

Joined: 1 Nov 2021

Can anyone recommend a good bank with low charges. Caixa seem slow to respond to anything and also have quite hefty charges .. thanks 

Kimmy11

Posted: Sat Jan 7, 2023 2:59pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Sat Jan 7, 2023 2:59pm

Hi Bigronnie,

It depends whether you're resident or not.  If non-resident, you will find it much cheaper to have an online Euro account, such as the multi-currency account from www.Wise.com, but beware of limitations on the amount and number of cash withdrawals you can make each month.  

If you're resident, the only free bank account I've heard about is Cajamar's Wefferent account - there appears to be a branch of Cajamar's Caja Rural at Av. Avinguda del Port, 24, 03730 Javea:

https://www.cajamar.es/en/particulares/productos-y-servicios/banca-a-distancia/busqueda-oficinas-cajeros/

Kind regards,

Kim

Marcbernard

Posted: Sat Jan 7, 2023 6:18pm

Marcbernard

Helpful member

Posts: 108

55 helpful points

Location: Benitachell

Joined: 29 Aug 2020

Posted: Sat Jan 7, 2023 6:18pm

Kimmy11 wrote on Sat Jan 7, 2023 2:59pm:

Hi Bigronnie,

It depends whether you're resident or not.  If non-resident, you will find it much cheaper to have an online Euro account, such as the multi-currency account from www.Wise.com, but beware of limitations on the amount and n...

...umber of cash withdrawals you can make each month.  

If you're resident, the only free bank account I've heard about is Cajamar's Wefferent account - there appears to be a branch of Cajamar's Caja Rural at Av. Avinguda del Port, 24, 03730 Javea:

https://www.cajamar.es/en/particulares/productos-y-servicios/banca-a-distancia/busqueda-oficinas-cajeros/

Kind regards,

Kim

Kimmy11

Apart from forgetting that Wise works equally with both residents and non residents, those seeking a bank account without charges  should look also at BBVA  on line account.

Kimmy11

Posted: Sat Jan 7, 2023 6:32pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Sat Jan 7, 2023 6:32pm

Marcbernard wrote on Sat Jan 7, 2023 6:18pm:

Kimmy11

Apart from forgetting that Wise works equally with both residents and non residents, those seeking a bank account without charges  should look also at BBVA  on line account.

Of course, technologically, Wise works irrespective of residency status, but as a Spanish resident, I personally find the limitations on amount and frequency of cash withdrawals doesn't work for me, although they may be sufficient for people coming over on holidays.  I was merely drawing attention to the fact that there are limitations which may not suit everybody.

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Marcbernard

Posted: Sat Jan 7, 2023 6:44pm

Marcbernard

Helpful member

Posts: 108

55 helpful points

Location: Benitachell

Joined: 29 Aug 2020

Posted: Sat Jan 7, 2023 6:44pm

Kimmy11 wrote on Sat Jan 7, 2023 6:32pm:

Of course, technologically, Wise works irrespective of residency status, but as a Spanish resident, I personally find the limitations on amount and frequency of cash withdrawals doesn't work for me, although they may be sufficient for people coming over on holidays.  I was merely drawin...

...g attention to the fact that there are limitations which may not suit everybody.

I wouldn't disagree with your point re limitations, but it is better to have more than one bank, surely! It should also be remembered that Wise is not (yet) a fully fledged bank, so use it for its main purposes but hold major funds in, say, BBVA

Bigronnie

Posted: Sat Jan 7, 2023 6:54pm

Bigronnie

Original Poster

Posts: 18

2 helpful points

Location: Javea / Xàbia

Joined: 1 Nov 2021

Posted: Sat Jan 7, 2023 6:54pm

Kimmy11 wrote on Sat Jan 7, 2023 2:59pm:

Hi Bigronnie,

It depends whether you're resident or not.  If non-resident, you will find it much cheaper to have an online Euro account, such as the multi-currency account from www.Wise.com, but beware of limitations on the amount and n...

...umber of cash withdrawals you can make each month.  

If you're resident, the only free bank account I've heard about is Cajamar's Wefferent account - there appears to be a branch of Cajamar's Caja Rural at Av. Avinguda del Port, 24, 03730 Javea:

https://www.cajamar.es/en/particulares/productos-y-servicios/banca-a-distancia/busqueda-oficinas-cajeros/

Kind regards,

Kim

Hi there. I’m not a resident but need a bank to pay for elec and water etc so was looking for a bank that doesn’t charge me for my debit card or impose quarterly charges 


thanks 

Kimmy11

Posted: Sat Jan 7, 2023 7:04pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Sat Jan 7, 2023 7:04pm

Marcbernard wrote on Sat Jan 7, 2023 6:44pm:

I wouldn't disagree with your point re limitations, but it is better to have more than one bank, surely! It should also be remembered that Wise is not (yet) a fully fledged bank, so use it for its main purposes but hold major funds in, say, BBVA

I didn't say that someone should only have one account and I wouldn't do so - not least because, personally, I have three! 😄

Kimmy11

Posted: Sat Jan 7, 2023 7:22pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Sat Jan 7, 2023 7:22pm

Bigronnie wrote on Sat Jan 7, 2023 6:54pm:

Hi there. I’m not a resident but need a bank to pay for elec and water etc so was looking for a bank that doesn’t charge me for my debit card or impose quarterly charges 


thanks 

If you don't need a physical bank in Spain, then Wise could be a good option for you, because you can pay your direct debits from your Wise account.  Many other non-resident forum members have ditched their expensive Spanish bank accounts for these much cheaper alternatives, such as Wise and N26.  You pay Sterling from your UK bank into your Wise account (paying an extremely competitive currency conversion fee), then pay your Spanish DDs from your Wise account, which will have a Euro IBAN, accepted by the Spanish utility companies.  As I said previously, just be sure that you can manage with the limitations on cash withdrawals before closing your Spanish account.

From the feedback of other members, I think you can set up the DDs online, but there was a niggle setting up a DD with the water supplier, Hidraqua, so you may have to do that one during your next visit to Spain.  I'd recommend opening a Wise account first, switch your DDs and make sure they're all working before you close your Spanish account.

Kind regards, 

Kim

killjoy

Posted: Sat Jan 7, 2023 7:57pm

killjoy

Super helpful member

Posts: 3232

1849 helpful points

Location: Orihuela Costa

Joined: 4 Nov 2017

Posted: Sat Jan 7, 2023 7:57pm

Banks live from taking your money - white collar crooks!

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