Bank accounts ??
Jul 7th 2012, 8:47 pm
#1
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Joined: Jun 2011
Location: Blackburn, Lancashire
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Bank accounts ??
Hi all not been on here for a while... Can anyone give me some advice on how to go about opening an account as a non spanish resident ?? I travel to Beidorm/Altea quite often in the year.
Thankyou x
Thankyou x
Jul 7th 2012, 10:01 pm
#2
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Joined: Sep 2010
Location: Near Alora....but not too near. :)
Posts: 1,646
Re: Bank accounts ??
Best thing to do is to set up a euro account through your UK bank, it's quite easy to do!
Jul 8th 2012, 1:02 am
#3
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Posts: 469
Re: Bank accounts ??
I hate banks.
But, we all need them. Sort of.
Santander currently offer a genuinely free banking service if you stay in credit. Mastercard debit card and stuff. No charges whatsoever (read the small print), if you stay in credit. You just need a UK passport to open an account with an address for correspondence.
It's OK IME.
But, we all need them. Sort of.
Santander currently offer a genuinely free banking service if you stay in credit. Mastercard debit card and stuff. No charges whatsoever (read the small print), if you stay in credit. You just need a UK passport to open an account with an address for correspondence.
It's OK IME.
Jul 9th 2012, 11:02 am
#4
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Location: Valencia, Spain.
Posts: 16
Re: Bank accounts ??
We recently set up a non-resident account with LaCaixa, didn't need a work contract (something every other bank we went to asked for) or NIE. Simply needed our passports. They seemed to have a good rate and were very helpful. Plus they spoke English as well, something that was also difficult to find in our area.
Hope this helps.
Hope this helps.
Jul 9th 2012, 11:06 am
#5
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Joined: Feb 2007
Location: Land of no recession
Posts: 10,717
Re: Bank accounts ??
We recently set up a non-resident account with LaCaixa, didn't need a work contract (something every other bank we went to asked for) or NIE. Simply needed our passports. They seemed to have a good rate and were very helpful. Plus they spoke English as well, something that was also difficult to find in our area.
Hope this helps.
Hope this helps.
That's very unusual in Manchester
Jul 9th 2012, 11:10 am
#7
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Location: Mallorca
Posts: 19,367
Re: Bank accounts ??
We recently set up a non-resident account with LaCaixa, didn't need a work contract (something every other bank we went to asked for) or NIE. Simply needed our passports. They seemed to have a good rate and were very helpful. Plus they spoke English as well, something that was also difficult to find in our area.
Hope this helps.
Hope this helps.
Anyone suggesting setting up a Euro account is perhaps not aware that the Euro has some very serious problems and continues to fall in value.
Santander accounts in the UK enable you to use your debit card in any Santander ATM in Spain (at least one in every town) without charges, and they give you a great exchange rate. If you can keep your money in Sterling, it's a lot safer for now. This is one way to do it.
Jul 9th 2012, 1:12 pm
#8
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Joined: Jul 2012
Posts: 2,041
Re: Bank accounts ??
LaCaixa is great - and there's at least one branch in nearly every village or town.
Anyone suggesting setting up a Euro account is perhaps not aware that the Euro has some very serious problems and continues to fall in value.
Santander accounts in the UK enable you to use your debit card in any Santander ATM in Spain (at least one in every town) without charges, and they give you a great exchange rate. If you can keep your money in Sterling, it's a lot safer for now. This is one way to do it.
Anyone suggesting setting up a Euro account is perhaps not aware that the Euro has some very serious problems and continues to fall in value.
Santander accounts in the UK enable you to use your debit card in any Santander ATM in Spain (at least one in every town) without charges, and they give you a great exchange rate. If you can keep your money in Sterling, it's a lot safer for now. This is one way to do it.
I don't see there's any danger opening an account with a Spanish bank and keeping a small supply of euros for day to day use. The EU has promised to bail out any banks that go under, and your money is guaranteed by the government just like it is in Britain.
Jul 9th 2012, 1:23 pm
#9
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Bank accounts ??
LaCaixa is great - and there's at least one branch in nearly every village or town.
Anyone suggesting setting up a Euro account is perhaps not aware that the Euro has some very serious problems and continues to fall in value.
Santander accounts in the UK enable you to use your debit card in any Santander ATM in Spain (at least one in every town) without charges, and they give you a great exchange rate. If you can keep your money in Sterling, it's a lot safer for now. This is one way to do it.
Anyone suggesting setting up a Euro account is perhaps not aware that the Euro has some very serious problems and continues to fall in value.
Santander accounts in the UK enable you to use your debit card in any Santander ATM in Spain (at least one in every town) without charges, and they give you a great exchange rate. If you can keep your money in Sterling, it's a lot safer for now. This is one way to do it.
I asked local BBVA for an acct and they told me No, you must go to other towns nearby (shame the manager had legs to her armpits) but the local La Caixa were only too happy to do everything for me, local account, online, the works and all in English. As with their website, even their ATM's are in about 17 different languages.
small charge of €2.25 per month for the account which will drop to zero when I reach 65.
Jul 9th 2012, 2:18 pm
#10
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Joined: Feb 2011
Location: Mallorca
Posts: 19,367
Re: Bank accounts ??
But if you own property you are much better off having a euro account for the direct debits, otherwise you will get stung each time you have to pay a bill!
I don't see there's any danger opening an account with a Spanish bank and keeping a small supply of euros for day to day use. The EU has promised to bail out any banks that go under, and your money is guaranteed by the government just like it is in Britain.
I don't see there's any danger opening an account with a Spanish bank and keeping a small supply of euros for day to day use. The EU has promised to bail out any banks that go under, and your money is guaranteed by the government just like it is in Britain.
But I think you missed the point about keeping money in Sterling.
The Euro is slowly falling in value against most major currencies, and will likely continue to do so.
Let's say you have 10000 Euros now. Keeping it in Euros will could make it worth 9000 or even 8000 compared to other currencies in a few years.
Better to keep it in another currency. We now keep our savings in dollars, and that's been good for us so far this year, and most seem to believe that the dollar will continue to gain in value against the Euro (and Sterling as well) That means my 10000 Euros worth of dollars could well be worth 12000 euros next year.
In fact, I bought a lot of Dollars when the Euro was at $1.44... So far, a very good move, and just as profitable I project above...
Last edited by amideislas; Jul 9th 2012 at 2:21 pm.
Jul 9th 2012, 4:48 pm
#11
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Joined: Jul 2012
Posts: 2,041
Re: Bank accounts ??
I agree, you need some Euros to get by.
But I think you missed the point about keeping money in Sterling.
The Euro is slowly falling in value against most major currencies, and will likely continue to do so.
Let's say you have 10000 Euros now. Keeping it in Euros will could make it worth 9000 or even 8000 compared to other currencies in a few years.
Better to keep it in another currency. We now keep our savings in dollars, and that's been good for us so far this year, and most seem to believe that the dollar will continue to gain in value against the Euro (and Sterling as well) That means my 10000 Euros worth of dollars could well be worth 12000 euros next year.
In fact, I bought a lot of Dollars when the Euro was at $1.44... So far, a very good move, and just as profitable I project above...
But I think you missed the point about keeping money in Sterling.
The Euro is slowly falling in value against most major currencies, and will likely continue to do so.
Let's say you have 10000 Euros now. Keeping it in Euros will could make it worth 9000 or even 8000 compared to other currencies in a few years.
Better to keep it in another currency. We now keep our savings in dollars, and that's been good for us so far this year, and most seem to believe that the dollar will continue to gain in value against the Euro (and Sterling as well) That means my 10000 Euros worth of dollars could well be worth 12000 euros next year.
In fact, I bought a lot of Dollars when the Euro was at $1.44... So far, a very good move, and just as profitable I project above...
I haven't got any money to worry about, but I quite agree with you it would be mad to convert large amounts of dollars or pounds to €€ at the moment.
