cherryjules

My hubby and I are self funding early retirees, we are planning to long term rent in the Malaga region initially, just until we find our feet. We are moving out at the end of Jan 2016. We are currently trying to secure a long term let and are traveling out in December to view potential properties. If we don't find anything suitable then we are planning a short term fixed let while we continue the search, hopefully we will find something quickly.I understand that we can open a 'non resident' bank account locally, until we have completed all formalities (of which there are many LOL). We will need this for direct debits and to transfer funds from the UK etc. We were hoping to try and sort out the account in December, However, we wont have our NIE number at that point or maybe not even a long term address. Could any of the members who have experienced this please advise on what the most practical course of action could be?Many Thanks

tebo53

Hi, I opened a non residents bank account with Sabadell a year before coming to Benidorm to live. All I needed to open the account was my passport and a recent UK utility bill. I took a gas bill. They did not require anything else. I was able to transfer funds etc, by internet banking.

Hope this helps☺

Steve

bolton wanderer

Hi,
We've just recently opened a Spanish non resident with Sabadell in order to buy/run a property in Spain. We picked Sabadell as they were local and spoke english. You don't need a NIE, only your passport(s).... and some euros to deposit but be prepared to sign loads of forms
Works well and we're able to transfer funds from our UK account and pay solicitor, contract deposit etc all online

We initially tried to open an account online with BBVA but it transpired that you needed to visit the branch to use your passport number as an ID number online

HTH and Good luck

amideislas

Most all Spanish banks will gladly open a "non resident" account. Most only need a passport (no utility bills or anything else). Usually takes about 15 minutes. LaCaixa is the most popular in Spain, but isn't the cheapest (though only modestly more expensive). But they have branches and atms all over Spain, their online banking is easy, in english, and you can do almost anything you can do in person at a branch. Bbva is also very popular.

Eric S

We are non-resident have the BBVA online account. I only needed my passport for the account. I did not have my NIE yet when we opened it.

I like it because there are no fees, we can do everything online, and the web site is available in English.

They also have an offer right now for new customers. You get 20€ per month back for the first year if you have your salary or pension direct deposited. See here for info.

- Eric S.

Ecco

I was only just talking about this a couple of hours ago.

I was enquiring about a free account here in Spain that I can open with just my passport as ID. I was told that I'd need a NIE (not by the bank though).

But as the policeman that told me "manana por la manana" said when I went there to try and get a 'cita to obtain a NIE; "Gente hablan".

So I CAN get a Spanish bank account with just a passport? Also I take it someone has done this very recently.....as laws change all the time - that was one of the things I was told my an estate agents; "you used to be able to do it".

Are there any free ones? If not, how much can I expect to pay?

Eric S

As I said above, there are no fees with the BBVA online account.

- Eric S.

amideislas

You walk in, and ask for a non-resident account. If they refuse, go to the next bank. Simples.

Nothing is " free" there is no such thing as a "free" bank account (despite what they promote). "Free" banking usually requires some minimal guaranteed money flowing through the account. Your salary, you pension, whatever. Also, many require you pay your bills through the account ( they get a kickback for this). But if you do all that, it appears to be "free". That's all. And nobody will give you a "free" debit or credit card.

Eric S

I beg to differ. Our BBVA online account has no fees. And we don't have any monthly deposit or direct debit requirements. You are right, though, that we would have to pay an annual fee for a credit card or "normal" debit card. They do, however, have a free pre-paid debit card. With that, you transfer money from your account to the card and then can use that money to pay for things with the card.

- Eric S.

Ecco

I guess I could actually pay rent, bills, internet on-line, so it could work-out.

Do you ever transfer non euro money into your account? I'm just wondering how that would work with conversion rates and charges.

As for the debit card thing. I guess I'd need to find out how much they charged for that as opposed to taking cash out on a UK based card - which is pretty expensive. The current card I use has a £1 minimum charge and also 3% of whatever you take out...........plus perhaps the bank in Spain also takes a % too. So assuming I only make one withdrawal a month in cash (say 500) that's still a minimum cost of about 16.50 euros a month (wow that's quite a lot to take out your own money ONCE!).


One thing I'm sure not happy about is this: "Free Hawkers sunglasses if you're under 30"

Eric S

Yes, I often transfer money back and forth from our US account in dollars. For that, I'd recommend using a money transfer company, as opposed to the bank. You'll get a much better exchange rate.

I've used USForex, TorFX, and Currencies Direct. My current favorite is TransferWise.

- Eric S.

johnnyone

Get a Halifax Clarity card or something similar.

lic

As for the debit card thing. I guess I'd need to find out how much they charged for that as opposed to taking cash out on a UK based card - which is pretty expensive. The current card I use has a £1 minimum charge and also 3% of whatever you take out...........plus perhaps the bank in Spain also takes a % too. So assuming I only make one withdrawal a month in cash (say 500) that's still a minimum cost of about 16.50 euros a month (wow that's quite a lot to take out your own money

If you have a U.K Santander account, you can use a Spanish Santander ATM for free, as in no charge to use the card and no extortionate exchange rate. You get the Visa exchange day rate.

Ecco

Hi. I'm not so sure about that.

When I tried researching this the other day I found an article that stated Santander are one of the most expensive. I could use a UK Santander card, but have avoided it so far.

Edit:

This is from a card-checker on one of the independent money advice sites I used when researching:

Your Results - Santander 123 Debit This is a card from hell!

Avoid this card abroad if you can. If you must, try to make a few bigger ATM withdrawals rather than lots of small purchases. Exchange Load ATM Charge Spending Charge Cash Withdrawal Interest 2.75% 1.5% (min £1.99) £1.25 0%



Reset For full details, see full overseas cards charges

Ecco

I'll have to look into that, as I've never used a money transfer service before so unsure of how it works. Though of course my account is in £ sterling not $ dollars.