Non resident bank account
#1
Forum Regular
Thread Starter
Joined: Nov 2013
Posts: 285
Non resident bank account
Hi again,
We’re looking to open a non resident Spanish bank account to transfer money to in order to buy a property. I’ve tried to open an online account with BBVA but fell at the first hurdle when asked for an ID number.....No matter what number I tried I got a “document in wrong format” message.
My abogado says that I will need to present a bank draft in the name of the vendor for the final payment in front of the notary, so I’ll probably need a branch account anyway.
Could anyone who has recently purchased a property, as a non resident, offer any advice or recommendation? I’m looking to use a currency transfer company such as moneycorp to transfer funds from my UK bank (Santander).
Apologies for not doing an extensive search of the forum but I only have internet access when at a local bar.
Many thanks for any replies.
We’re looking to open a non resident Spanish bank account to transfer money to in order to buy a property. I’ve tried to open an online account with BBVA but fell at the first hurdle when asked for an ID number.....No matter what number I tried I got a “document in wrong format” message.
My abogado says that I will need to present a bank draft in the name of the vendor for the final payment in front of the notary, so I’ll probably need a branch account anyway.
Could anyone who has recently purchased a property, as a non resident, offer any advice or recommendation? I’m looking to use a currency transfer company such as moneycorp to transfer funds from my UK bank (Santander).
Apologies for not doing an extensive search of the forum but I only have internet access when at a local bar.
Many thanks for any replies.
#2
Re: Non resident bank account
Get an NIE number from the Spanish consulate in your country,then try online, or present yourself in the bank with a passport and a fistful of dosh.
Transferring money from U.K. to here is a doddle.
Transferring money from U.K. to here is a doddle.
#3
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Joined: Aug 2007
Location: Los Martinez
Posts: 858
Re: Non resident bank account
The usual practice is to go to a bank present your NIE and passport for verification that you are non resident- there are forms that need a signature. Then the branch will set up your online account and give you the relevant password and authorisation.
This is to prevent money laundering. Although fraud committed by the big multi national companies when dealing with cash far outweighs whatever could happe n through a private account, they prefer to chase the minnows rather than the sharks!
This is to prevent money laundering. Although fraud committed by the big multi national companies when dealing with cash far outweighs whatever could happe n through a private account, they prefer to chase the minnows rather than the sharks!
#4
Forum Regular
Thread Starter
Joined: Nov 2013
Posts: 285
Re: Non resident bank account
The usual practice is to go to a bank present your NIE and passport for verification that you are non resident- there are forms that need a signature. Then the branch will set up your online account and give you the relevant password and authorisation.
This is to prevent money laundering. Although fraud committed by the big multi national companies when dealing with cash far outweighs whatever could happe n through a private account, they prefer to chase the minnows rather than the sharks!
This is to prevent money laundering. Although fraud committed by the big multi national companies when dealing with cash far outweighs whatever could happe n through a private account, they prefer to chase the minnows rather than the sharks!
#5
Forum Regular
Thread Starter
Joined: Nov 2013
Posts: 285
Re: Non resident bank account
Thanks Boseley, We're in Spain at the moment but still struggling with some aspects of the Spanish language. We've been told that the NIE certificate only lasts 3 months, even though the number remains the same. We're looking to complete in January and don't want to have to re-apply at a crucial stage. Thanks again.
#6
Re: Non resident bank account
Thanks Boseley, We're in Spain at the moment but still struggling with some aspects of the Spanish language. We've been told that the NIE certificate only lasts 3 months, even though the number remains the same. We're looking to complete in January and don't want to have to re-apply at a crucial stage. Thanks again.
#7
Forum Regular
Thread Starter
Joined: Nov 2013
Posts: 285
Re: Non resident bank account
Quick update:
We've now opened a non-resident account at Sabadell. Only required passports. Took a while & many forms to fill in but very helpful staff :-)
Thanks again for the replies
We've now opened a non-resident account at Sabadell. Only required passports. Took a while & many forms to fill in but very helpful staff :-)
Thanks again for the replies
#11
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Joined: Apr 2010
Location: London (mainly)/Oliva
Posts: 2,137
Re: Non resident bank account
#15
BE Enthusiast
Joined: Jan 2007
Posts: 835
Re: Non resident bank account
Believe me if your not a resident they'll charge you anything and everything they can.My son had a non res account with Lloyds Int and on the change over was assured he would be charged the same commissions.Until he discovered that the previously free Sterling account which he had never used now attracted commission.When he brought it up they closed it but wouldn't entertain refunding the money they had taken.