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Bank account in Pounds in Spain

Bank account in Pounds in Spain

Old Dec 4th 2022, 3:33 am
  #16  
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Default Re: Bank account in Pounds in Spain

Santander will charge you higher fees than a British bank in Gib. I had a Sterling account there for many years after I received a cheque in Sterling whilst living in Spain.Unfortunately,just before the referendum it was abruptly closed as I was not a UK resident.
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Old Dec 4th 2022, 4:17 am
  #17  
 
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Default Re: Bank account in Pounds in Spain

Originally Posted by dougal03
Santander will charge you higher fees than a British bank in Gib. I had a Sterling account there for many years after I received a cheque in Sterling whilst living in Spain.Unfortunately,just before the referendum it was abruptly closed as I was not a UK resident.
It is perfectly possible to have an account in Gibraltar as a non-UK resident, and indeed Gibraltar banks largely exist to serve an international client base.

Therefore IMO it is likely that the bank you banked with decided that it was too onerous to comply with Spanish/ EU reporting requirements, or UK reporting requirements if they, perhaps incorrectly, linked you to the UK.

Accounts being closed because of onerous reporting requirements, was common around the time your account was closed as a result of a major shake-up in tax reporting in many off-shore banking centers, including, but not confined to the Channel Islands, the Isle of Man, Switzerland, and the Cayman Islands.
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Old Dec 4th 2022, 11:43 pm
  #18  
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Default Re: Bank account in Pounds in Spain

Easier in a Wise multi-currency account where I have some €uros and pounds, easy to exchange or transfer with no account mgmt fees or fear of being closed.
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Old Dec 5th 2022, 1:19 am
  #19  
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Default Re: Bank account in Pounds in Spain

Originally Posted by spainrico
Easier in a Wise multi-currency account where I have some €uros and pounds, easy to exchange or transfer with no account mgmt fees or fear of being closed.
Agree 100%
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