Depositing cash in a Spanish bank ?
#1
Forum Regular
Thread Starter
Joined: Jan 2011
Posts: 32
Depositing cash in a Spanish bank ?
Hi, I'll be getting some cash as part of a property deal and was wondering if there are restrictions on the amounts of money one can deposit in a Spanish bank. There won't be any documentation with it so was wondering if that may cause problems ? We're talking about €40K.
#2
Re: Depositing cash in a Spanish bank ?
Hi, I'll be getting some cash as part of a property deal and was wondering if there are restrictions on the amounts of money one can deposit in a Spanish bank. There won't be any documentation with it so was wondering if that may cause problems ? We're talking about €40K.
After that figure, they will want to know where it came from and then you have to sign a piece of paper.
#3
Re: Depositing cash in a Spanish bank ?
Hi, I'll be getting some cash as part of a property deal and was wondering if there are restrictions on the amounts of money one can deposit in a Spanish bank. There won't be any documentation with it so was wondering if that may cause problems ? We're talking about €40K.
Surely you can think of a more secure and accessible place for it, bearing in mind the current situation ?
Bank interest rates aren't worth a light and beware of most of their investment schemes.
Anyway,with a name like that you should easily be able to make it disappear.
#4
Re: Depositing cash in a Spanish bank ?
Hi, I'll be getting some cash as part of a property deal and was wondering if there are restrictions on the amounts of money one can deposit in a Spanish bank. There won't be any documentation with it so was wondering if that may cause problems ? We're talking about €40K.
#5
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Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Depositing cash in a Spanish bank ?
Any cash over 6000 euro and you have to fill out a form for the Bank of Spain. This is a fact and all banks have the same regulation, unless you find a crooked bank manager
As for putting money in a spanish bank right now
As for putting money in a spanish bank right now
#6
Forum Regular
Thread Starter
Joined: Jan 2011
Posts: 32
Re: Depositing cash in a Spanish bank ?
Thanks everybody for replying. I want to keep and use the money in Spain, but rather not put it under the mattress !
#7
Re: Depositing cash in a Spanish bank ?
Not too many folk in Spain turn their noses up at cash payments.
However I appreciate there are occasions when it has to be done officially through the books so to speak.
#8
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Joined: May 2007
Location: Alfaz del Pi, Costa Blanca
Posts: 205
Re: Depositing cash in a Spanish bank ?
With a bank card you can withdraw money here, or online transfer amounts (below 6,000!) but keep it in any bank in the world. With the bank situation at the moment I would not keep it here!
#10
Re: Depositing cash in a Spanish bank ?
No. I think you'll find this figure was increased last year. At least, Banesto, Santander and Lloyds all work to the figure of 30k now.
#11
Re: Depositing cash in a Spanish bank ?
Didn't they recently increase the amount 'secure' in case of the bank going down? Like the UK but different, if you see what I mean
#12
Re: Depositing cash in a Spanish bank ?
but my concern would be if they went back to the peseta..............how many GBP/US$ would 40K€ worth of pesetas be worth???
if you see what I mean
#14
Joined: Jan 2010
Posts: 1,590
Re: Depositing cash in a Spanish bank ?
Hi, I'll be getting some cash as part of a property deal and was wondering if there are restrictions on the amounts of money one can deposit in a Spanish bank. There won't be any documentation with it so was wondering if that may cause problems ? We're talking about €40K.
#15
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Joined: Aug 2009
Location: Costa Blanca
Posts: 3,142
Re: Depositing cash in a Spanish bank ?
Obviously depends on the bank and the area - I thought questions had to be asked for over 10k and in fact there were even issues raised at the notary about cash deals. All part of anti money laundering and tax evasion issues. Same applies at airports as well, I know of people who have been questioned about carrying large amounts of cash.