Non residents Bank Account - any advice on cheapest options?

Hi

I'm sure someone will have posted on this previously - but I'm looking for any specific advice for options on Non-resident Spanish Bank account with minimal admin, charges.

I have an account with Lloyds (now Sabadell), originally Halifax.   I don't do anything fancy with it at all - simply maintain a balance of a couple of hundred Euros to pay Debit Directs.  I avoid landing charges on transfers from UK by simply topping up the balance in cash as and when we are out in CDA, using the local branch in Mazaron.

Sabadell have announced that they are increasing the admin charges on the account to somwhere around 25 euros a quarter, and I wanted to know if anyone has any advice on other banks (ideally with branch close to CDA) which are cheaper options.  I don't need internet banking, credit card etc - just the bog standard current account for a few DD's.

I know that most Spanish banks will charge an admin fee, but I'm starting to resent paying 100-odd euros a year for an account with 3 direct debits on it... in fact the bank costs are in danger of becoming our 2nd largest outlay (after the community fees)!

I've tried Santader UK (as I have accounts here) - and they can't seem to help, but I've read somewhere that Santander Spain offer an account with a "low" admin rate... which would be a preference given the branch in Campasol and others in Mazaron town & port.   Bank Inter also seem to offer something similar, but their website is next to useless and I can't see any fees listed.

Anyone got any advice that they can share.. and ideally any info on the different costs for other banks?

Thanks

Russ

J2

I would be interested in knowing this as well. I am with CatalunyaCaxia just now and its getting expensive to have the account with them (costs over 100 euro pa at the moment)

I am over at Easter so was going to sort it out then if I could not change from the UK or online.

Thanks

Scott

Cam Bank, now part of Sabbadell charges

25e for each debit card p/a, 43e for each credit card p/a and 50e (12.50 p/q) account admin charge.

However if you have a need to fund an account to 700e a month (presumably only if you use the apartment regularly or have a mortgage) then they do an account that is fee free ...... which i'll be changing to this year along with a few other people by the sounds of it.

Spanish Banks do not 'loss lead' on accounts unlike UK Banks, there is no such thing as a 'free' bank account, that just means someone else is paying for it by being charged more for something. 

Sounds like they're all becoming very similar in their charging arrangements.

Hi, Ive been looking at solutions to this too.

I'm considering a Gibratar account as you get the free British accounts, plus they are not too far should you really actually need to go in to your branch, but I never really do. Do you? what for if I may ask? I dont see any reason to have to. I can do everyting by post or online.

There is also the online bank Cahoot, which is free and British based but owned by Santander, so you can use the Santander branches should you need to go in

I opened an account here a few years back with 150 Euros i think it was. Then had to go back to the UK. when i returned to Spain a year or so later I was stunned to see they had taken all the money and closed the account! amazing! I never even used it apart from that one deposit!

Bandits!

I am with Sabadell too and the fees are driving me insane.  I have looked into banking with Santander in Spain as I do in UK but no help from UK on this, and Santander International Client website is useless.

I think we have to accept that we will have to pay account charges in Spain as this is policy.

In my search to reduce fees I did find this (see link) which I think I am going to apply for.  Standard fees would stay the same, however, cash withdrawals are free and translation service would be a help.  Plus no fees/commission for bank transfers.  €24 per quarter flat fee.

https://www.bancsabadell.com/cs/Satellite/SabAtl/Prestige-Care-Account/1191359536844/en/

Anyone applied/signed up to this account?

Hi,

I am with Barclays. They had a branch in the Port but unfortunately that closed down and I was transferred to Cartegana.

I am getting free banking, no band charges, and am getting 3% back on my maintenance, water and electric bills. Not sure

if a person opening a new account would get the same or not. It is worth about 150 euro a year to me, although from January

2013 the tax man took 1% of that.

We treat it as a day out when we go to the bank and you really do not have to go their that often.

Fred

Are there any credit unions or building societies or anything like that in Spain does anyone know?

Does anyone use La Caixa? - they have a branch at Camposol so handy enough.  I wonder what their fees are like?????

Hi

We are looking to buy a property in Spain and when we went to set up a bank account the manager did say it wasn't necessary as we could pay the bills from one bank account to another as they all have IBAN numbers.  When I spoke to my Spanish solicitor about this she said we would be better getting a Spanish bank account, but I would rather not if it is not necessary.  Has any body else managed without setting up a new account?

Thanks

Tracey

We have an account in La Caixa on Camposol and purchased a home 2 years ago and its proved opf great value . The manager and staff are always helpfull . Having this account has proved very useful as it serves by DD all the bills such as  Council Tax, Non res tax, Water , Electric etc . We have La Caixa account cards and can use them anywhere in ATM`s wordwide . This is always handy in emergancies so my advise would be dont cut corners and have the back up of a Spanish Account. Yes they do charge some fees but thats better than paying the charges which UK banks will bill you for i.e Pounds to Euros on every item.

We can look at payments/statements on line  24 / 7. from the UK