Banking confusion...
#1
Just Joined
Thread Starter
Joined: Oct 2009
Posts: 4
Banking confusion...
Hi
Well the time is coming near....(moving to Nerja on the 15th March ) but we are still a bit confused about banking, specifically actually transferring money between our account and the property owner we are renting from.
We currently banking with Nationwide and have asked if we can transfer money to a Spanish account. The answer they gave was No.....but others have said you can do it online
Because of pensions payments etc we dont want / need to open a Spanish bank account
Our land lady wants us to pay our rent into her Spanish bank account so in your experience can this be done.
My personal understanding is that as long as you have her bank account details then its just a transfer, isnt it?
Any help much appreciated.
Well the time is coming near....(moving to Nerja on the 15th March ) but we are still a bit confused about banking, specifically actually transferring money between our account and the property owner we are renting from.
We currently banking with Nationwide and have asked if we can transfer money to a Spanish account. The answer they gave was No.....but others have said you can do it online
Because of pensions payments etc we dont want / need to open a Spanish bank account
Our land lady wants us to pay our rent into her Spanish bank account so in your experience can this be done.
My personal understanding is that as long as you have her bank account details then its just a transfer, isnt it?
Any help much appreciated.
#2
Re: Banking confusion...
Hi
Well the time is coming near....(moving to Nerja on the 15th March ) but we are still a bit confused about banking, specifically actually transferring money between our account and the property owner we are renting from.
We currently banking with Nationwide and have asked if we can transfer money to a Spanish account. The answer they gave was No.....but others have said you can do it online
Because of pensions payments etc we dont want / need to open a Spanish bank account
Our land lady wants us to pay our rent into her Spanish bank account so in your experience can this be done.
My personal understanding is that as long as you have her bank account details then its just a transfer, isnt it?
Any help much appreciated.
Well the time is coming near....(moving to Nerja on the 15th March ) but we are still a bit confused about banking, specifically actually transferring money between our account and the property owner we are renting from.
We currently banking with Nationwide and have asked if we can transfer money to a Spanish account. The answer they gave was No.....but others have said you can do it online
Because of pensions payments etc we dont want / need to open a Spanish bank account
Our land lady wants us to pay our rent into her Spanish bank account so in your experience can this be done.
My personal understanding is that as long as you have her bank account details then its just a transfer, isnt it?
Any help much appreciated.
#3
Banned
Joined: Feb 2010
Posts: 2
Re: Banking confusion...
hifx.com transfer money from Sterling UK to Euros Spain.
My son a UK accountant checked them out and was satisfied. We have used them several times, and after the setting up, it so simple, no charges ether end and good rate of exchange
My son a UK accountant checked them out and was satisfied. We have used them several times, and after the setting up, it so simple, no charges ether end and good rate of exchange
#4
BE Enthusiast
Joined: May 2009
Posts: 882
Re: Banking confusion...
Not sure if you are here permanently but you can withdraw 300 euros a day from NW account here to deposit in landladies account until you are more settled.
#5
Re: Banking confusion...
IMHO, best to open one, transfer some funds to it using a currency transfer company then use that to pay all your bills, rent etc. Much simpler, no?
#6
BE Enthusiast
Joined: May 2009
Posts: 882
Re: Banking confusion...
If you're here for anything other than a short holiday I would think you would find it pretty tough to exist here without a Spanish bank account.
IMHO, best to open one, transfer some funds to it using a currency transfer company then use that to pay all your bills, rent etc. Much simpler, no?
IMHO, best to open one, transfer some funds to it using a currency transfer company then use that to pay all your bills, rent etc. Much simpler, no?
They could always open a non resident account from the UK.
#7
Re: Banking confusion...
Also if you ever decide to buy a property in Spain you will have to have a Spanish account. Your solicitor will ask for the IBAN no.
#8
BE Enthusiast
Joined: Apr 2006
Posts: 614
Re: Banking confusion...
Ask yourself: what would you do if you were in Spain and you lost (or had stolen) your british cash / credit cards? It's worth having an extra account just for the peace of mind.
#9
Re: Banking confusion...
Yes I agree I will keep my UK bank account after we have moved out there but will use my spanish account for utility, rate payments etc. What I am hoping is that internet banking on UK accounts will extend to making overseas payments. I am with Lloyds TSB and they have recently been conducting a survey on internet banking and one of the options for what people would like it to do is overseas transfers so it may happen who knows. This will make things a lot easier.
#10
Yaaarp
Joined: Oct 2009
Location: Trying to get the hell outta Spain!
Posts: 1,354
Re: Banking confusion...
What about setting up an account with Snatander in the UK? They're a Spanish bank so maybe easier to use them.
#11
Re: Banking confusion...
I doubt it to be honest because a spanish account is a euro account and you can only transfer from a sterling account via the bank. I opened my account with La Caixa in London but it is still a euro account.