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Do I Need a Spanish Bank Acount ?

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Posted: Wed Dec 13, 2017 6:58pm
4 replies86 views3 members subscribed
TC

TC

Posts: 2

Location: La Marina

I am in the process of buying a place in La Marina and would be grateful for some advice on banking. I already have a euro denominated bank account in The Netherlands and if possible would like to use this account for transactions in Spain, rather than set-up a Spanish bank account. Theoretically, I think this should be possible as both Spain and The Netherlands are part of the Single European Payment Area, but does anyone have experience of banking in Spain using only an overseas euro account ? Any issues with utilities, local authorities etc accepting direct debits or payments from foreign accounts ? Thanks.

Scott

Thu Dec 14, 2017 9:56am

Posts: 68

Location: Relleu

30 helpful posts

Posted: Thu Dec 14, 2017 9:56am

Hi we looked into this and found that many companies wouldn’t accept or would levy a charge as it is still classed as an international transfer due to the bank account numbers and sort codes being defined as overseas account. For ease in the end we opened a sabadell account cost €30 every three months but working out the surcharge for international payment/transfers we felt this was easier and cheaper.

Our other account wasn’t in the Netherlands but was in the EU? I would presume the same issues would be pertinent. Hope it’s helpful.

Scott

Gilly09

Thu Dec 14, 2017 12:43pm

Posts: 71

Location: Las Filipinas

50 helpful posts

Posted: Thu Dec 14, 2017 12:43pm

TC wrote:

I am in the process of buying a place in La Marina and would be grateful for some advice on banking. I already have a euro denominated bank account in The Netherlands and if possible would like to use this account for transactions in Spain, rather than set-up a Spanish bank account. Theoretically, I think this should be possible as both Spain and The Netherlands are part of the Single European Payment Area, but does anyone have experience of banking in Spain using only an overseas euro account ? Any issues with utilities, local authorities etc accepting direct debits or payments from foreign accounts ? Thanks.

I would get costs for each bank as non residents pay more. €12 every quarter at La Caixa Bank with €24 per annum charge. Still cheaper than transfers. Then speak to currencies direct or some other company for transferring sterling to euros to get best rate. Most banks only allow €20 min to be taken from cash points and if not your bank you can pay up to 1.80 to get money out.

Gilly

Scott

Thu Dec 14, 2017 1:15pm

Posts: 68

Location: Relleu

30 helpful posts

Posted: Thu Dec 14, 2017 1:15pm

Hi Gilly, I think the original poster has the euro has his home currency. I got a rather good offer via Moneycorp recently when I referred a friend they got £75 and I did, I simply referred my partner for a good rate on the transfer of over €2500 (we are looking to buy a car) and we then got £150 back result!

TC

TC

Original Poster

Mon Dec 18, 2017 11:49am

Posts: 2

Location: La Marina

Posted: Mon Dec 18, 2017 11:49am

Thanks Scott and Gilly. Yes, I do have an overseas euro account and was wondering if there is any problem just using this for direct debits etc rather than have to get a Spanish bank account. Tony

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