Moving over for 6 months, should i set up a bank account for daily expenses or use debit card in atm machines

Posted: Wed May 9, 2018 6:10pm

23 replies543 views10 members subscribed

Page 1 of 3:
1
2
3
Next

Posts: 9

Joined: 22 Mar 2018

We are renting for 6 months in the winter, all housing bills will be paid for before we move out so we only have day to day expenses to pay for. I am looking for advice on best ways to handle money. Should we get a bank account for non residency? Can i set one up from uk? Should we just bring credit and debit cards and access money from atm machines? Should I bring travellers cheques? Any and all help very much appreciated.

Reply
View 23 replies

Posted: Thu May 10, 2018 4:30pm

Josephine123

Helpful member

Posts: 327

167 helpful points

Location: Punta Prima

Joined: 2 Dec 2016

Posted: Thu May 10, 2018 4:30pm

I wouldn’t advise to set up a bank account in Spain unless you plan many more trips in the future. You would have to pay bank charges. I use my Santander credit card for larger purchases and my Santander 123 debit card to get cash from the ATM. There is no fee as long as you use a Santander ATM in Spain and the exchange rate is very good.

Reply

Posted: Thu May 10, 2018 5:53pm

Nicola68

Original Poster

Posts: 9

Location: Torrevieja

Joined: 22 Mar 2018

Posted: Thu May 10, 2018 5:53pm

Hi, and thank you for your reply. I am seeing Santander next week to set up a credit card so will be following your advice. Thanks again.

Reply

Posted: Fri May 11, 2018 7:14am

Jan06

Helpful member

Posts: 172

152 helpful points

Location: Guardamar del Segura

Joined: 4 Mar 2018

Posted: Fri May 11, 2018 7:14am

Look at Halifax Clarity Card recommended by Martin Lewis no fees https://www.moneysavingexpert.com/credit-cards/travel-credit-cards#halifax

Posted: Fri May 11, 2018 7:51am

Ada

Helpful member

Posts: 421

234 helpful points

Location: Rojales

Joined: 4 Nov 2016

Posted: Fri May 11, 2018 7:51am

Good advice you could also look at the Transferwise Borderless account, you can just pay money in anytime you like.

Posted: Fri May 11, 2018 5:25pm

Jarl

Posts: 10

4 helpful points

Location: Benidorm

Joined: 4 Feb 2018

Posted: Fri May 11, 2018 5:25pm

Josephine123 wrote on Thu May 10, 2018 4:30pm:
I wouldn’t advise to set up a bank account in Spain unless you plan many more trips in the future. You would have to pay bank charges. I use my Santander credit card for larger purchases and my Santander 123 debit card to get cash from the ATM. There is no fee as long as you u...

Read more...

...se a Santander ATM in Spain and the exchange rate is very good.

Here is some information about spanish bank accounts.

https://thecostablancaguide.com/municipal-information/opening-a-bank-account/

Remember that you need a NIE number in order to get it - info in the following link

https://thecostablancaguide.com/municipal-information/nie-application/

Posted: Fri May 11, 2018 5:55pm

Nicola68

Original Poster

Posts: 9

Location: Torrevieja

Joined: 22 Mar 2018

Posted: Fri May 11, 2018 5:55pm

Jan06 wrote on Fri May 11, 2018 7:14am:
Look at Halifax Clarity Card recommended by Martin Lewis no fees https://www.moneysavingexpert.com/credit-cards/travel-credit-cards#halifax

Thank you, I will look into this.

Reply

Posted: Fri May 11, 2018 6:38pm

Nicola68

Original Poster

Posts: 9

Location: Torrevieja

Joined: 22 Mar 2018

Posted: Fri May 11, 2018 6:38pm

Jarl wrote on Fri May 11, 2018 5:25pm:
Here is some information about spanish bank accounts.
https://thecostablancaguide.com/municipal-information/opening-a-bank-account/

Read more...

Remember that you need a NIE number in order to get it - info in the following link
https://thecostablancaguide.com/municipal-information/nie-application/

Will read up on this, looking at winter breaks for next few years. So this could be the future plan for banking. Thank you for your reply.

Reply

Posted: Fri May 11, 2018 6:40pm

Nicola68

Original Poster

Posts: 9

Location: Torrevieja

Joined: 22 Mar 2018

Posted: Fri May 11, 2018 6:40pm

Ada wrote on Fri May 11, 2018 7:51am:
Good advice you could also look at the Transferwise Borderless account, you can just pay money in anytime you like.

Thanks for quick reply. Will look into these.