Would like to close my Spanish bank account and pay all direct debits for services in Spain with my UK bank account. Can this be done? - Banking and finances in Villamartin - Villamartin forum - Costa Blanca forum in the Alicante province of Spain
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Would like to close my Spanish bank account and pay all direct debits for services in Spain with my UK bank account. Can this be done?

Posted: Thu Mar 28, 2024 9:27am
12 replies4 members subscribed
Trevor34

Posts: 4

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Joined: 27 Mar 2024

Would like to close my Spanish bank account and pay all direct debits with my UK bank account.Can this be done

GrahamLynn

Posted: Thu Mar 28, 2024 9:36am

GrahamLynn

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Posted: Thu Mar 28, 2024 9:36am

Not a definitive answer, but I very much doubt it and it would cost you a small fortune in banking charges on your UK account in currency exchange /conversion fees.

Why not open a Wise account  which will give you the IBAN number you require. 

Lynn

Sligogent

Posted: Thu Mar 28, 2024 9:37am

Sligogent

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Posted: Thu Mar 28, 2024 9:37am

Set  up  a Wise  bank account for  yourself, online  banking,  Good exchange  rates, Money  transfer  almost immediately, 

A  lot  of UK  ex pat use  this Bank, 

 Best  of luck 👍 

Trevor34

Posted: Thu Mar 28, 2024 9:49am

Trevor34

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Location: Villamartin

Joined: 27 Mar 2024

Posted: Thu Mar 28, 2024 9:49am

GrahamLynn wrote on Thu Mar 28, 2024 9:36am:

Not a definitive answer, but I very much doubt it and it would cost you a small fortune in banking charges on your UK account in currency exchange /conversion fees.

Why not open a Wise account  which will give you the IBAN number you require. 

Lynn

Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account

marcliff

Posted: Thu Mar 28, 2024 9:50am

marcliff

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Posted: Thu Mar 28, 2024 9:50am

As alluded to, most of your direct debits can't be made with a non EU IBAN so you would need to open an account with one of the many online bank accounts such as Wise but there are others. Make sure you select one with a EU IBAN and Wise fits the bill. 

The only problems some people seem to have is paying taxes with the online accounts. 

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GrahamLynn

Posted: Thu Mar 28, 2024 10:00am

GrahamLynn

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Posted: Thu Mar 28, 2024 10:00am

Trevor34 wrote on Thu Mar 28, 2024 9:49am:

Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account

I thought you were asking about a traditional UK bank account. 

Revolut is similar to the Wise account, so as long as your Direct Debits are set up with the EU IBAN, then you are doing what the vast majority of non residents are already doing 

Lynn

Trevor34

Posted: Thu Mar 28, 2024 12:06pm

Trevor34

Original Poster

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Joined: 27 Mar 2024

Posted: Thu Mar 28, 2024 12:06pm

Thanks Lynn very much appreciated

Aspen1992

Posted: Fri Mar 29, 2024 9:55pm

Aspen1992

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Posted: Fri Mar 29, 2024 9:55pm

Trevor34 wrote on Thu Mar 28, 2024 9:49am:

Won't cost me with Revolut account but Spanish bank account charge me 160 euros a year for the account

Hi Trevor34

Revolut uses a GB Iban so no good for DD's I am afraid, as others have said open a Wise account myself included has one to pay all the bills.

I use my Revolut to exchange money and spending with while in Spain, I also have a Starling Euro account which is very usefull.

Regards

Andrew

Trevor34

Posted: Fri Mar 29, 2024 11:19pm

Trevor34

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Posts: 4

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Location: Villamartin

Joined: 27 Mar 2024

Posted: Fri Mar 29, 2024 11:19pm

Aspen1992 wrote on Fri Mar 29, 2024 9:55pm:

Hi Trevor34

Revolut uses a GB Iban so no good for DD's I am afraid, as others have said open a Wise account myself included has one to pay all the bills.

I use my Revolut to exchange money and spending with while in Spain, I also have a Starling Euro account which is very usefull.

Regards

Andrew

Thanks Andrew

George55

Posted: Sat Mar 30, 2024 10:52am

George55

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Posted: Sat Mar 30, 2024 10:52am

Yes, the key point is that companies can't refuse to accept an IBAN from another EU/EEA country

IBAN discrimination: What to do if a company doesn’t accept your IBAN - Wise

I'd be minded to say they should still be able to take DDs from a GB IBAN but the hassle of trying to get them to do this is probably so extreme so as to not to bother - especially when there is a relatively ready made solution with Wise - who provide you with a BE IBAN. 

(Note as always - not a bank, so no FSCS protections so don't keep your life savings in there!)

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