IB99

I am getting myself set to purchase a property in Spain, but do not intend to become resident there.

I have to open a bank account, through which the purchase price for the property will be received in Euros but from outside Spain and then paid out to the seller. It will also be used as an ordinary current account for direct debits and the like. A debit card would also be required for purchases and ATM cash withdrawals. Access to online banking (preferably through a website with an English interface) would also seem to be a necessity.

The account will hold a credit balance, but my overall preference would be to receive no interest, in order to keep my Spanish tax situation as simple as possible.

The proposed purchase is in the Marbella area, so I expect all the banks would have a local branch.

Any nominations please for a bank that is reasonably user-friendly and satisfies all these criteria, but does not have excessive (even better, any) charges for the sort of services I am looking for (including DD's and cash withdrawals) ?

I was looking at Citibank as one option (the website seems to be available in English for online banking, even if not for general information). BBVA seem to have an English website, but they also seem to have charges for everything, which I know is a lot more common in Europe than in the UK.

ShinyAndy

I´ve been with Solbank for four years and not had a problem. They do non resident accounts, online in English and English speaking staff in all their branches. There is a small cost for transfers but not withdrawals, check their website for more info www.solbank.com/en/

Rotor

I second that ,very good service ,charges can be negotiated if you have a good flow of cash going through

ShinyAndy

I never got anywhere with negotiation (and I have fantastic cash flow) but notice they do offer a new account now that has zero charges but you have to pay certain bills by dd through it and I don´t/can´t

jackytoo

We left Solbank because of high charges. May be ok. if your salary is paid in but we have never done that and only kept a small float to pay utilities and emergencies. I note they are now charging 24euro per quarter to operate this account. We were also being charged for two debit cards each renewal. We changed to Cajamar. Seeing as you will be non-resident I assume you will not be having a monthly sum paid in.

HBG

Any of the major Spanish banks will provide you with all the services you need. The biggest is Santander. The only slight difference to the normal UK bank is that the local manager has more discretion and you can negotiate charges on an individual basis.

Stay clear of the Cajas.

Rotor

I bank a high t/o business through them plus I guess it also depends on the manager.

IB99

I won't have any salary paid into the account, so these seem to be the choices of Solbank account (so far as the charges are relevant to the use i will make of the account).

Prestige Care Account
Maintenance fee €24 / quarter
Fee per transaction €0
Cards Debit (1st card) €0
ATM cash withdrawals
Servired Group branch €0
Serviered Other banks 12 free withdrawals per qtr
Direct debits €0
Make transfers- Domestic €0
Incoming transfers
Domestic €0
International = €0

Standard Account
Maintenance fee €10 / quarter
Fee per transaction €0.50
Cards Debit €17 / year
ATM cash withdrawals
Servired Group branch €0
Servired Other banks 1% (min €0.60)
Direct debits €0
Make transfers-
Domestic To a Group account 0.10% (€2.40)
To other banks 0.30% (min. €4.50)
Incoming transfers
Domestic €0
International
< €50,000 = €0
> €50,000 = 0.20% (max. €150)

On that basis, it looks like if I go for the Prestige Care Account, I simply pay €96 per year and can operate the account completely free, including the large incoming transfer and any transfer out for payment of the purchase price of the apartment.

Is that a reasonable deal by Spanish banking standards ?

missile

I have tried a few banks and now use Barclays.es.

They offer good services for the ex-pat and charge me nada > https://www.barclays.es/publico/cont...jsp?lang=en_UK

EsuriJohn

We have been with Solbank for about 3 years now and have a Prestige Account. The way the Director (don't you just like the way that bank managers in Spain are called Herr Director) put it to us was that the quarterly fee was for the credit card which you get with the account in addition to the debit card but you cannot say no to. We just don't use it!

They have been very good on the banking side but less so with the mortgage which has had a glich since about March but we hope to sort that next month. In our branch they all speak English and most documentation is in English except for the Mortgage and that had a floor to the rate (which we did not spot) which has meant that the lowest bank rate for ever did not help us much after March 2008, but you can't win em all! You will also have to pay the non-Residents fee which was every 2 years but has now gone to every year and is €22.

We also have an account with Bank Andalucia (Grupo Banco Popular) they do one called Club Senior Account and the terms are very similar to Solbank.

We have 2 accounts after taking the advice on here that if one of us "pops our clogs" the other still has access to funds if the bank decides to freeze the account as they are required to do by law.

Both banks have English websites and most of our banking is done by tinternet. We use Rational for Stirling/Euro exchange and for £5000 and above they do not make charges and give us 50 pips of interbank rate which we do about 2 or 3 times a year. They also say they will pick up any charges by the receiving bank but so far there don't seem to have been any even for one transaction well above €50k.

These are part of the anti-moneylaundrying rules which seem to get tighter all the time so this could change.

St. John

May I ask why you say that? I was ripped off mercilessly by Unicaja but la Caixa have been a Godsend. Would be interested to know why you have such a low opinion of the caja's.

Thanks

jackytoo

I have found Cajamar fine, wouldn't keep a large float in though, the cajas are supposed to be in trouble.

IB99

How are Santander ?

Rotor

Allegedly arrogant and difficult to deal with.... the same in the UK

Jur

Second that!

Also very unhappy with Unicaja & Bancaja but this has more to do with incompetent employees. Many expensive muck up´s!

Happy with BBVA.