Non resident bank account
#16
BE Enthusiast
Joined: Dec 2003
Location: Boston / Guipúzcoa
Posts: 718
Re: Non resident bank account
Although it says you can apply online, we actually did it in a branch office. So I can't vouch for the online set up process. But once we got the account working, I now do everything online. And it works great.
Even though I have an NIE, the ID I use for my BBVA account is my passport number.
bolton wanderer - We did exactly as you are doing. We opened the account because we were purchasing property in Spain. We transferred the money into the account using a money transfer company, and then had a bank draft done to make the final payment of the property. The local BBVA branch manager was extremely helpful with this.
We now use the account to pay all the montlhy bills (gas, electricity, etc.) for our property.
Good luck.
Eric S.
#17
Forum Regular
Joined: Aug 2005
Location: El Cotin, Chiclana
Posts: 297
Re: Non resident bank account
[QUOTE=Eric S;11766299]I am non-resident and have the online account with BBVA. There are no fees or monthly charges.
It looks interesting but would like to know if they charge for currency transfers from the UK? It says 7.5% for international transfers but I'm not clear what that means.
It looks interesting but would like to know if they charge for currency transfers from the UK? It says 7.5% for international transfers but I'm not clear what that means.
#18
Re: Non resident bank account
I use a currency dealer, no charges for amounts over 3000 GB Pounds, good rate of exchange, and my bank here in the Canaries don't charge for the transfers either.
#19
Forum Regular
Thread Starter
Joined: Nov 2013
Posts: 285
Re: Non resident bank account
I am non-resident and have the online account with BBVA. There are no fees or monthly charges.
Although it says you can apply online, we actually did it in a branch office. So I can't vouch for the online set up process. But once we got the account working, I now do everything online. And it works great.
Even though I have an NIE, the ID I use for my BBVA account is my passport number.
bolton wanderer - We did exactly as you are doing. We opened the account because we were purchasing property in Spain. We transferred the money into the account using a money transfer company, and then had a bank draft done to make the final payment of the property. The local BBVA branch manager was extremely helpful with this.
We now use the account to pay all the montlhy bills (gas, electricity, etc.) for our property.
Good luck.
Eric S.
Although it says you can apply online, we actually did it in a branch office. So I can't vouch for the online set up process. But once we got the account working, I now do everything online. And it works great.
Even though I have an NIE, the ID I use for my BBVA account is my passport number.
bolton wanderer - We did exactly as you are doing. We opened the account because we were purchasing property in Spain. We transferred the money into the account using a money transfer company, and then had a bank draft done to make the final payment of the property. The local BBVA branch manager was extremely helpful with this.
We now use the account to pay all the montlhy bills (gas, electricity, etc.) for our property.
Good luck.
Eric S.
I've opened an account with "moneycorp" to transfer initial funds from the UK....Anyone got a particular favourite currency agent?
Thanks again, brilliant forum
#20
BE Enthusiast
Joined: Dec 2003
Location: Boston / Guipúzcoa
Posts: 718
Re: Non resident bank account
With none of them have I been charged by BBVA to transfer money in. But I was charged a couple of times to transfer money out to banks outside Spain but within Europe (SEPA). When I checked with BBVA, they said the charges came from the destination banks, not from them.
- Eric S.
Last edited by Eric S; Oct 7th 2015 at 7:32 pm.
#21
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Joined: Dec 2003
Location: Boston / Guipúzcoa
Posts: 718
Re: Non resident bank account
- Eric S.
#22
Banned
Joined: Feb 2011
Location: Mallorca
Posts: 19,367
Re: Non resident bank account
In most of the civilised world, it's illegal to open a bank account online without proof of identity (e.g., producing a passport live-in person to a bank officer). Simply entering a passport number online is not possible in virtually any western bank. It's called KYC. It's a requirement.
The only way you can open a bank account is to be present with your passport at the bank. At least at any bank worth putting your money in. I for one, wouldn't trust any bank that opens an account for you entirely online without meeting those basic requirements.
Having said that, aside from any queue you might have to endure, if you show up in person, you should have your account within a half hour or less. If in the process, they go into some sort of bewildered zombie state, you probably won't enjoy banking with them anyway. Go the the bank next door.
The only way you can open a bank account is to be present with your passport at the bank. At least at any bank worth putting your money in. I for one, wouldn't trust any bank that opens an account for you entirely online without meeting those basic requirements.
Having said that, aside from any queue you might have to endure, if you show up in person, you should have your account within a half hour or less. If in the process, they go into some sort of bewildered zombie state, you probably won't enjoy banking with them anyway. Go the the bank next door.
#23
Just Joined
Joined: Nov 2015
Posts: 1
Re: Non resident bank account
Opened an account with Sabadel this summer - no problem even sent me a mail to say my debit card was ready.
Only problem when I got the online banking working I saw how much they had charged in 'comission & taxes' + 30€ for the debit card!
So Am now looking to move to a 'free' bank - thanks for the tips about BBVA.
Anyone used ING or BankInter?
Only problem when I got the online banking working I saw how much they had charged in 'comission & taxes' + 30€ for the debit card!
So Am now looking to move to a 'free' bank - thanks for the tips about BBVA.
Anyone used ING or BankInter?
#24
Re: Non resident bank account
Opened an account with Sabadel this summer - no problem even sent me a mail to say my debit card was ready.
Only problem when I got the online banking working I saw how much they had charged in 'comission & taxes' + 30€ for the debit card!
So Am now looking to move to a 'free' bank - thanks for the tips about BBVA.
Anyone used ING or BankInter?
Only problem when I got the online banking working I saw how much they had charged in 'comission & taxes' + 30€ for the debit card!
So Am now looking to move to a 'free' bank - thanks for the tips about BBVA.
Anyone used ING or BankInter?
Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.
Please let me know if you need any further help.
Rosemary
#25
Forum Regular
Joined: Dec 2015
Posts: 86
Re: Non resident bank account
When we were in the process of purchasing, our Spanish (English Speaking) Solicitor not only did all the legal stuff related to the purchase, including Insurance cover, but also obtained our NIE numbers, opened up our Spanish Bank Account (On-line banking) and set up all our Direct Debits (Electricity, Water, Telecom) which he was able to do with a 'Power of Attorney' from us, he also assisted us with our Spanish Wills ( to conform to UK Inheritance laws). The service we recieved was exceptional and since being here we have had no problems whatsoever, all our Utility payments go out as scheduled and we conduct on-line banking with no problems. We were initially very concerned as you hear so many horror stories, however, everything has been so very easy and hassle free.
#26
BE Forum Addict
Joined: Apr 2010
Location: London (mainly)/Oliva
Posts: 2,137
Re: Non resident bank account
When we were in the process of purchasing, our Spanish (English Speaking) Solicitor not only did all the legal stuff related to the purchase, including Insurance cover, but also obtained our NIE numbers, opened up our Spanish Bank Account (On-line banking) and set up all our Direct Debits (Electricity, Water, Telecom) which he was able to do with a 'Power of Attorney' from us, he also assisted us with our Spanish Wills ( to conform to UK Inheritance laws). The service we recieved was exceptional and since being here we have had no problems whatsoever, all our Utility payments go out as scheduled and we conduct on-line banking with no problems. We were initially very concerned as you hear so many horror stories, however, everything has been so very easy and hassle free.
We were advised to get the locks changed as there are often many sets of keys in the hands of various Agents.
#27
BE Enthusiast
Joined: Dec 2003
Location: Boston / Guipúzcoa
Posts: 718
Re: Non resident bank account
When we were in the process of purchasing, our Spanish (English Speaking) Solicitor not only did all the legal stuff related to the purchase, including Insurance cover, but also obtained our NIE numbers, opened up our Spanish Bank Account (On-line banking) and set up all our Direct Debits (Electricity, Water, Telecom) which he was able to do with a 'Power of Attorney' from us, he also assisted us with our Spanish Wills ( to conform to UK Inheritance laws). The service we recieved was exceptional and since being here we have had no problems whatsoever, all our Utility payments go out as scheduled and we conduct on-line banking with no problems. We were initially very concerned as you hear so many horror stories, however, everything has been so very easy and hassle free.
- Eric S.
#29
Forum Regular
Joined: Dec 2015
Posts: 86
Re: Non resident bank account
The On-line banking is done using our Passport not NIE Number
#30
Banned
Joined: Feb 2011
Location: Mallorca
Posts: 19,367
Re: Non resident bank account
Splitting hairs, me thinks.
Every bank has online banking. That's not exceptional nowadays.
What you can do in that online banking does vary. But here in Europe, online banking is generally pretty comprehensive. And you aren't limited to all things national, as most UK banks are.
There's the issue of fees. If €5 per month for a non-resident account that you move €200 per month through bothers you, then perhaps you need to ask why you need it so badly.
Nonetheless, a lot of people are swearing by their BBVA accounts. I can't figure out how it can possibly be "free", but I'm intrigued and I think I will look into it - if nothing else, than just to discover how much their "free" account costs.
Banks are banks, not philanthropists. You should expect to pay something for their services. Nothing is free.
And if you can't set up a non-resident account in a half hour or less, with just a passport, then go to the bank next door. It's not rocket science, and if they can't do that, you won't be happy with what else they can't do.
Every bank has online banking. That's not exceptional nowadays.
What you can do in that online banking does vary. But here in Europe, online banking is generally pretty comprehensive. And you aren't limited to all things national, as most UK banks are.
There's the issue of fees. If €5 per month for a non-resident account that you move €200 per month through bothers you, then perhaps you need to ask why you need it so badly.
Nonetheless, a lot of people are swearing by their BBVA accounts. I can't figure out how it can possibly be "free", but I'm intrigued and I think I will look into it - if nothing else, than just to discover how much their "free" account costs.
Banks are banks, not philanthropists. You should expect to pay something for their services. Nothing is free.
And if you can't set up a non-resident account in a half hour or less, with just a passport, then go to the bank next door. It's not rocket science, and if they can't do that, you won't be happy with what else they can't do.
Last edited by amideislas; Dec 10th 2015 at 9:48 pm.