Are there any Banks that charge less fees than Sabadell.
Posted: Fri Jul 16, 2021 2:05pm
Legendary helpful member
Hi Doreen,
Yes, but recommendations will vary, depending on whether you're a Spanish resident or non-resident.
Kind regards,
Kim
Posted: Fri Jul 16, 2021 5:22pm
Kimmy11 wrote on Fri Jul 16, 2021 2:05pm:
Hi Doreen,
Yes, but recommendations will vary, depending on whether you're a Spanish resident or non-resident.
Read more...
Kind regards,
Kim
Hi Kim, thanks for responding. No, I am a UK resident. So guess I’ll have to pay it. The old pension doesn’t go very far anymore. Doreen
Posted: Fri Jul 16, 2021 6:01pm
Legendary helpful member
Doreen3 wrote on Fri Jul 16, 2021 5:22pm:
Hi Kim, thanks for responding. No, I am a UK resident. So guess I’ll have to pay it. The old pension doesn’t go very far anymore. Doreen
Hi Doreen,
Non-resident is good if you want to get rid of Spanish bank fees! 😄 There are online banks, with an EU IBAN, that enable you to pay your direct debits in Spain without the need for a physical bank here. (I can't tell you the best options, because I'm a resident stuck with Spanish bank fees!) I know there are many canny members here who have switched to online banks, such as N26 and Revolut, and the currency exchange company, Wise, from which you can also pay direct debits.
The only Spanish bank I know that charges no fees is Cajamar's Wefferente account - our member, Paulsav, knows all about it.
Kind regards,
Kim
Posted: Fri Jul 16, 2021 6:55pm
Kimmy11 wrote on Fri Jul 16, 2021 6:01pm:
Hi Doreen,
Non-resident is good if you want to get rid of Spanish bank fees! 😄 There are online banks, with an EU IBAN, that enable you to pay your direct debits in Spain without the need for a physical bank here. (I can't tell you the best options, because I'm a resident stuck with Spanish b...
Read more...
...ank fees!) I know there are many canny members here who have switched to online banks, such as N26 and Revolut, and the currency exchange company, Wise, from which you can also pay direct debits.
The only Spanish bank I know that charges no fees is Cajamar's Wefferente account - our member, Paulsav, knows all about it.
Kind regards,
Kim
Thanks Kim, Thank goodness we have good people like yourself to help us oldies…Doreen
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Doreen3 wrote on Fri Jul 16, 2021 6:55pm:
Thanks Kim, Thank goodness we have good people like yourself to help us oldies…Doreen
I can recommend Wise (formally Transferwise) for an online account. Wise will set you up with an EU account number and then you can transfer money from your UK account to your Wise Global accounts and pay any direct debit through them. You can also apply for a debit card.
Check out their site:
Steve
Posted: Sat Jul 17, 2021 12:14pm
Super helpful member
Kimmy11 wrote on Fri Jul 16, 2021 6:01pm:
Hi Doreen,
Non-resident is good if you want to get rid of Spanish bank fees! 😄 There are online banks, with an EU IBAN, that enable you to pay your direct debits in Spain without the need for a physical bank here. (I can't tell you the best options, because I'm a resident stuck with Spanish b...
Read more...
...ank fees!) I know there are many canny members here who have switched to online banks, such as N26 and Revolut, and the currency exchange company, Wise, from which you can also pay direct debits.
The only Spanish bank I know that charges no fees is Cajamar's Wefferente account - our member, Paulsav, knows all about it.
Kind regards,
Kim
Hi Kim
You've touched on a subject that has confused me for quite some time. Is there some sort of legal requirement for residents to have a bank account with a Spanish owned bank?
Cheers
Steve
Posted: Sat Jul 17, 2021 12:42pm
tebo53 wrote on Fri Jul 16, 2021 7:06pm:
I can recommend Wise (formally Transferwise) for an online account. Wise will set you up with an EU account number and then you can transfer money from your UK account to your Wise Global accounts and pay any direct debit through them. You can also apply for a debit card.
Check out their site:...
Read more...
Thanks Steve, going to look at N26 too. I only use the bank for direct debits. Sounds lik just the bank I need…Doreen
Posted: Sat Jul 17, 2021 12:57pm
Legendary helpful member
Stevec2x wrote on Sat Jul 17, 2021 12:14pm:
Hi Kim
You've touched on a subject that has confused me for quite some time. Is there some sort of legal requirement for residents to have a bank account with a Spanish owned bank?
Read more...
Cheers
Steve
Hi Steve,
No, not that I'm aware of, but it's more convenient, especially when it comes to cash withdrawals. We pay €15 per quarter with Sabadell, so not horrendous charges for a resident. When I'm old enough to draw my state pension, I'm hoping they'll still be offering free banking - only 7 years to wait! 🙄😄
Kind regards,
Kim
Posted: Sat Jul 17, 2021 6:20pm
Super helpful member
Kimmy11 wrote on Sat Jul 17, 2021 12:57pm:
Hi Steve,
No, not that I'm aware of, but it's more convenient, especially when it comes to cash withdrawals. We pay €15 per quarter with Sabadell, so not horrendous charges for a resident. When I'm old enough to draw my state pension, I'm hoping they'll still be offering free banking - only 7...
Read more...
... years to wait! 🙄😄
Kind regards,
Kim
Hi Kim
Personally, I'm like the queen these days😂 particularly since covid. I use my Wise card for almost everything. I can use Deutsche Bank for free cash withdrawals, I only use cash for those busy communal moments in a bar, and for tips.
I've heard, so many times, that you need a Spanish bank account, but I'm of the opinion that it's just Spanish inertia, especially when buying a house! I bought a car about 3 years ago, paid with wise.com, no problem.
Cheers
Steve
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