Alternative options for Spanish Bank Account?

A Wise online account is a popular option for paying direct debits, money transfers etc.

Unlike the UK all Spanish banks generally charge fees to run your account if you are a resident, if you are a non resident you will usually pay more. As a resident my account has been free of charges until recently when the conditions changed and they informed me I would now need to have several products with them to be fee free.

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Hi Paolo, like yourself I have been benefiting from a free banking service from Sabadell, I have not heard anything from them to indicate that things have changed or that things are potentially changing ? What are the conditions  you refer to that have changed. No doubt I will likely find out ! but just looking for a heads up.

I'm in the same position as you Hew. I've not heard anything and hope not to!!

Steve 

After 5 years of free banking I started being charged last year, I have money in my account and pensions paid in monthly they now say that I would need insurances and/or other types of accounts (ie mutual funds) as well to qualify for free banking.

The new system is a tiered one dependent on your account balance and other products you hold with them starting with free banking then from €10 up to as much as 80€ per quarter for a non resident account.

Hi 

I also recommend Wise.com - I use mine for everything!

Cheers 

Steve 

Thanks for the info, appreciated.

Simj68 you have said in your post that you had to have a Spanish bank account while purchasing your Spanish property. If this was because you were borrowing money for the sale then your problem gets bigger. You could transfer all DD’s to an online account and be provided with a debit card (at a cost). This would also give you access to a limited amount of cash without charge, transfer of another currency into euros without charge however I don’t believe they provide mortgages. This would mean that the Spanish account you have you may have to keep, and still pay the quarterly charges, or pay off your loan and close the account. Hope this helps.

Wise are great, however they only do joint accounts for business and you have a very low limit at cashpoints

I use Wise and Bankinter, both free.

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Syd I used a Wize card at bankinter on Friday to withdraw money and was charged for the privilage.