Banking enquiry - Banking and finances in Pinar De Campoverde - Pinar De Campoverde forum - Costa Blanca forum in the Alicante province of Spain
Thy Will Be Done
Car Key Solutions
Gran Alacant Insurances
Gentlevan Removals
Expat Services
ASSSA Insurance
interior building work
AA Free English TV
Blacktower Financial Management
Costa Blanca Building Specialists
Airport Service Taxi Mil Palmeras  Torre de la Horadada
James Spanish School
Espana Dream Properties
Jennifer Cunningham Insurances SL

Join the Pinar De Campoverde forum

Join the Pinar De Campoverde forumMy name's Alex and this is my website all about Pinar De Campoverde in Spain. Register now for free to talk about Banking and finances in Pinar De Campoverde and much more!

Banking enquiry

Posted: Sun Nov 22, 2020 10:09pm
7 replies154 views2 members subscribed
ASIS

Posts: 15

1 helpful points

Joined: 5 Aug 2019

Hi all, we are currently trying to open a bank account for residencia purposes and are wondering about the charges. There is apparently a 160€ annual charge for maintenance, is this correct, or because it’s at the moment an overseas account? Thanks in advance. 

tebo53

Posted: Sun Nov 22, 2020 11:26pm

tebo53

Legendary helpful member

Posts: 4776

4960 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Sun Nov 22, 2020 11:26pm

ASIS wrote on Sun Nov 22, 2020 10:09pm:

Hi all, we are currently trying to open a bank account for residencia purposes and are wondering about the charges. There is apparently a 160€ annual charge for maintenance, is this correct, or because it’s at the moment an overseas account? Thanks in advance. 

Yes that sounds about right for annual charges for a non residents account. There are several internet based banking services that are free. 

Steve 

ASIS

Posted: Sun Nov 22, 2020 11:45pm

ASIS

Original Poster

Posts: 15

1 helpful points

Joined: 5 Aug 2019

Posted: Sun Nov 22, 2020 11:45pm

tebo53 wrote on Sun Nov 22, 2020 11:26pm:

Yes that sounds about right for annual charges for a non residents account. There are several internet based banking services that are free. 

Steve 

Thank you Steve for your reply, so if we achieve resedencia will banking charges cease or be reduced? Appreciate your assistance. 

Kimmy11

Posted: Mon Nov 23, 2020 8:44am

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Mon Nov 23, 2020 8:44am

ASIS wrote on Sun Nov 22, 2020 11:45pm:

Thank you Steve for your reply, so if we achieve resedencia will banking charges cease or be reduced? Appreciate your assistance. 

Hi ASIS,

It depends on the bank, but the fees should reduce once you become resident.  For example, when we were non-resident, Sabadell used to charge €36 per quarter, then it was free when we became resident.  However, all the major banks introduced charges on their resident accounts this year; Sabadell now charge residents €15 per quarter.  It is still possible to get free banking: with Sabadell, you have to have a pension credited direct to your account in Spain and buy one other product, such as an insurance or investment.

The only 'no strings attached' free account I've heard of os Cajamar's Wefferente account, but that was at the beginning of the year, so you'd need to double-check that it's still free.

Kind regards,

Kim

Advertisement - posts continue below

ASIS

Posted: Mon Nov 23, 2020 9:59am

ASIS

Original Poster

Posts: 15

1 helpful points

Joined: 5 Aug 2019

Posted: Mon Nov 23, 2020 9:59am

Kimmy11 wrote on Mon Nov 23, 2020 8:44am:

Hi ASIS,

It depends on the bank, but the fees should reduce once you become resident.  For example, when we were non-resident, Sabadell used to charge €36 per quarter, then it was free when we became resident.  However, all the major banks introduced charges on their resident accounts this yea...

...r; Sabadell now charge residents €15 per quarter.  It is still possible to get free banking: with Sabadell, you have to have a pension credited direct to your account in Spain and buy one other product, such as an insurance or investment.

The only 'no strings attached' free account I've heard of os Cajamar's Wefferente account, but that was at the beginning of the year, so you'd need to double-check that it's still free.

Kind regards,

Kim

Thanks Kim, that’s very helpful. We hope to be in Campoverde by Christmas depending on the UK lockdown. 

tebo53

Posted: Mon Nov 23, 2020 10:26am

tebo53

Legendary helpful member

Posts: 4776

4960 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Mon Nov 23, 2020 10:26am

ASIS wrote on Mon Nov 23, 2020 9:59am:

Thanks Kim, that’s very helpful. We hope to be in Campoverde by Christmas depending on the UK lockdown. 

Kimmy has beaten me to the reply, and I fully agree with her. I am with Sabadell and get free banking as I've got another product with them.

There are (apparently) some "free" internet banks but I personally can't recommend any

Steve 

ASIS

Posted: Mon Nov 23, 2020 10:38am

ASIS

Original Poster

Posts: 15

1 helpful points

Joined: 5 Aug 2019

Posted: Mon Nov 23, 2020 10:38am

tebo53 wrote on Mon Nov 23, 2020 10:26am:

Kimmy has beaten me to the reply, and I fully agree with her. I am with Sabadell and get free banking as I've got another product with them.

There are (apparently) some "free" internet banks but I personally can't recommend any

Steve 

Thanks Steve, this is all reassuring. This is a great forum and we appreciate all your help. Many thanks. 

Pix Elated

Posted: Mon Nov 23, 2020 1:48pm

Pix Elated

Super helpful member

Posts: 1221

1067 helpful points

Location: Villamartin

Joined: 13 Apr 2018

Posted: Mon Nov 23, 2020 1:48pm

ASIS wrote on Sun Nov 22, 2020 10:09pm:

Hi all, we are currently trying to open a bank account for residencia purposes and are wondering about the charges. There is apparently a 160€ annual charge for maintenance, is this correct, or because it’s at the moment an overseas account? Thanks in advance. 

One thing we found out the hard way when a transfer of money from a UK account to our account here in Spain was "returned"  the IBAN number is likely to change when your account changes from a non-resident to residents account, ours did unfortunately no one explained that to us!

Our advice would be to check this just to be on the safe side.

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Find more Banking and finances topics from a particular area:


Register for free!

Login to your account

Thy Will Be Done
Car Key Solutions
Gran Alacant Insurances
Gentlevan Removals
Expat Services
ASSSA Insurance
interior building work
AA Free English TV
Blacktower Financial Management
Costa Blanca Building Specialists
Airport Service Taxi Mil Palmeras  Torre de la Horadada
James Spanish School
Espana Dream Properties
Jennifer Cunningham Insurances SL
Advertise your business here
Advertise your property
Help with my computer