Charges are they correct?

Hi Paulab,

Are you resident, or non-resident in Spain?  Spanish bank charges are high for non-residents (as a Spanish resident, I pay €60 per year with Sabadell), but €400 sounds too much, even for a non-resident.  Unless you're planning to apply for residency, you'd be better off ditching the Spanish bank; instead, open an account with an online bank that has an EU IBAN and pay your regular bills/direct debits from that.  Lots of members having been doing this since Brexit has seen a hike in fees, often using Wise (formerly Transferwise) as the currency exchange method.  I´m sure other non-resident members can offer recommendations.

Kind regards,

Kim

Kim thankyou so much. 

I will look into that truly appreciated. We ate non residents 

Hi Paulab yes €400 seems steep most Banks are charging extortionate rates I agree with Kimmy11 have a look at online banks like Wise and Starling Bank both very good we use these to pay our Direct Debits which both have IBAN numbers if you are paying for your property you could use Wise to pay your solicitors direct  to save Bank charges and you get a good exchange rate ,one last thing which I’m sure someone else can help with depending on your property price do not transfer in one go to save charges all the best Marcus

Thankyou. I will google and look i to this. It is all new to  us so truly appreciate it 

We all learn something new everyday but in a few weeks you will look back and smile and say it was all worth while Enjoy your new home in Spain Marcus

Hi Paulab

I think the 400€ maybe the cheque for the house purchase as this is needed at the notary, ours was 450€ although they will offset the house insurance against this make sure you ask.

You will have 45€ a quarter charges, we have just closed our account as we use Wise now and house insurance with Liberty.

Regards Andrew

Thankyou many people are saying use wise so I think that may be the way yo go. Just checked the paperwork again it says acc fees 400 euro? Do you get a card with wise?

Yes you do, not sure about drawing cash from a cash point as I haven't came across that yet to see what the charges are but we use the card alot so doubt it would be a major issue.

There is deffo something not right is it a Key account as thats what we had charges were as I said 45€ a quarter.

Hi,

Have a look at the link below:

https://wise.com/es/

You can get a card but I think there is a €200 per month limit.

Steve