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Non resident bank account

Non resident bank account

Old Oct 6th 2015, 7:48 pm
  #16  
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Default Re: Non resident bank account

Originally Posted by Daveinspain
Believe me if your not a resident they'll charge you anything and everything they can.
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.
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Old Oct 7th 2015, 5:03 pm
  #17  
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Default 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.
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Old Oct 7th 2015, 5:59 pm
  #18  
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Default 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.
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Old Oct 7th 2015, 7:15 pm
  #19  
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Default Re: Non resident bank account

Originally Posted by Eric S
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.
Many thanks again to all of you that replied. Eric, I tried putting my passport number in the online registration for BBVA but it wasn't recognised ...Will look to move to them once we've got the property purchase finalised. Thanks for the additional info.

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
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Old Oct 7th 2015, 7:29 pm
  #20  
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Default Re: Non resident bank account

Originally Posted by YMF
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.
I think it depends more on the money exchange company rather than the bank. I've used a few: Currencies Direct, TorFX, USForex, and Transferwise. My current favorite is Transferwise.

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.
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Old Oct 7th 2015, 7:35 pm
  #21  
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Default Re: Non resident bank account

Originally Posted by bolton wanderer
Eric, I tried putting my passport number in the online registration for BBVA but it wasn't recognised ...Will look to move to them once we've got the property purchase finalised. Thanks for the additional info.
As I remember, when we opened the account, the bank manager had to go through some extra steps to set it up. So maybe the online sign up process only works if you have a DNI. Otherwise, you may need to do it at a branch office. In the end, though, we did end up with the "Online Account".

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Old Oct 7th 2015, 7:52 pm
  #22  
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Default 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.
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Old Nov 30th 2015, 6:21 pm
  #23  
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Default 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?
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Old Nov 30th 2015, 7:42 pm
  #24  
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Default Re: Non resident bank account

Originally Posted by Pjeff
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?
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Old Dec 9th 2015, 10:02 pm
  #25  
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Default 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.
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Old Dec 10th 2015, 6:43 am
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Default Re: Non resident bank account

Originally Posted by Bigmomma1
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.
Exactly what we did. So straightforward. After completion we just picked up the keys and that was it.
We were advised to get the locks changed as there are often many sets of keys in the hands of various Agents.
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Old Dec 10th 2015, 6:56 pm
  #27  
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Default Re: Non resident bank account

Originally Posted by Bigmomma1
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.
Which bank?

- Eric S.
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Old Dec 10th 2015, 6:58 pm
  #28  
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Default Re: Non resident bank account

Originally Posted by Eric S
Which bank?

- Eric S.
Sabadell
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Old Dec 10th 2015, 7:01 pm
  #29  
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Default Re: Non resident bank account

The On-line banking is done using our Passport not NIE Number
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Old Dec 10th 2015, 9:43 pm
  #30  
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Default 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.

Last edited by amideislas; Dec 10th 2015 at 9:48 pm.
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