Posted: 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 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