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Cheapest bank charges
Posted: Thu Nov 16, 2023 1:17pm
Hi we arein process of selling a property and would like to lodge some proceeds into spsnish bank. Which bank has the lowest fees and best deposit interest ... .if any. Thanks
Posted: Thu Nov 16, 2023 2:10pm
Super helpful member
Forget accounts paying interest in Spain, they simply don't exist in the same way they do in the UK, or if they do, they pay risible rates of interest, maybe enough to buy you a bottle of wine or two with the proceeds at the end of the year.
Posted: Thu Nov 16, 2023 2:17pm
Herefordjack wrote on Thu Nov 16, 2023 2:10pm:
Forget accounts paying interest in Spain, they simply don't exist in the same way they do in the UK, or if they do, they pay risible rates of interest, maybe enough to buy you a bottle of wine or two with the proceeds at the end of the year.
I know. Its the same everywhere. Its more about fees for having a current account and deposit account
Posted: Thu Nov 16, 2023 2:45pm
Very helpful member
Akelly1962 wrote on Thu Nov 16, 2023 2:17pm:
I know. Its the same everywhere. Its more about fees for having a current account and deposit account
Have not any Irish Bank account. If so best of a bad bunch. How are settling into life in Spain 🇪🇸
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Posted: Thu Nov 16, 2023 2:59pm
Sligogent wrote on Thu Nov 16, 2023 2:45pm:
Have not any Irish Bank account. If so best of a bad bunch. How are settling into life in Spain 🇪🇸
Hi ye we do but don't want to put all eggs in one basket. Were settling in fine thanks.
Posted: Fri Nov 17, 2023 10:33am
Super helpful member
Hi
For low fees and a better interest rate I suggest Wise.com. it's easy and quick to create your account online and then discover how it works.
The drawback is that it's not a bank and so your money is not guaranteed safe up to €100k by the ECB/whoever.
btw - if you hold your money as GBP in Wise you'll get a better interest rate (currently).
Cheers
Steve
Posted: Fri Nov 17, 2023 11:01am
Stevec2x wrote on Fri Nov 17, 2023 10:33am:
Hi
For low fees and a better interest rate I suggest Wise.com. it's easy and quick to create your account online and then discover how it works.
Read more...
The drawback is that it's not a bank and so your money is not guaranteed safe up to €100k by the ECB/whoever.
btw - if you hold your money as GBP in Wise you'll get a better interest rate (currently).
Cheers
Steve
Hi Steve
No we use euros. Would only use wise for small transactions. I need money guaranteed hence need bank. Thanks
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