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Thinking of going fully to Wise

Thinking of going fully to Wise

Old Feb 2nd 2024, 9:28 am
  #16  
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Default Re: Thinking of going fully to Wise

Seems that from this month Spain will now allow the payment of tax from foreign accounts
https://marosavat.com/spain-payments...bank-accounts/

But the account must be from an account from a bank operating within theSEPA zone.

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Old Feb 2nd 2024, 9:34 am
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Default Re: Thinking of going fully to Wise

I agree Wise customer services are excellent in my experience, helpful and quick to reply.

I had my Wise cashback payments today - The annualised cashback rate for the money you held with Wise in January 2024 is 2.28% for EUR, 3.31% for GBP

Very interesting news about paying the tax man - thanks Barriej

Don't we share some great stuff on this forum!
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Old Feb 4th 2024, 9:38 am
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Default Re: Thinking of going fully to Wise

Originally Posted by spainrico
I agree Wise customer services are excellent in my experience, helpful and quick to reply.

I had my Wise cashback payments today - The annualised cashback rate for the money you held with Wise in January 2024 is 2.28% for EUR, 3.31% for GBP

Very interesting news about paying the tax man - thanks Barriej

Don't we share some great stuff on this forum!
I've had an account with La Caixa for over 20 years, also have my buildings insurance with them. They seem to be bending me over for various charges which have increased since Brexit, so I am tempted to move away from them. I've had a Wise FX account for a few years, I assume I'll need to get a full bank account with them - can you set up direct debits for IBI, agua, luz etc with Wise? Do they give you an ATM card to get cash if you need it?
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Old Feb 4th 2024, 10:37 am
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Default Re: Thinking of going fully to Wise

Yes you can apply for a card and use it with a multi currency account and it will automatically pay in the local currency and convert from your holding currency.So if you have your money in € and go top the UK and spend in £ the conversion will be done for you at a good rate.You get two free cash withdrawals per month after that you pay a small fee,so you do need to plan ahead a bit if you use cash regularly
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Old Feb 4th 2024, 10:39 am
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Default Re: Thinking of going fully to Wise

I think there is only one Wise account and it does all (and there are 'business accounts) but research more here -

https://wise.com/sg/blog/current-account-account-types

I have had the same account with them from day one and I do transfers, exchanges, and earn cashback and have a debit card with them. Currently, I don't have any direct debits.

Whether it can totally replace a 'normal' Spanish bank account was the point my thread and I think the jury is out - for no-fee Spanish bank accounts you either comply with their conditions (taking insurance, investments etc it varies) or go for one of the online-only such as Openbank (Santander) or now Sabadell are also pushing a new online-only account (new customers only)

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Old Feb 4th 2024, 2:26 pm
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Default Re: Thinking of going fully to Wise

Originally Posted by spainrico
or go for one of the online-only such as Openbank (Santander) or now Sabadell are also pushing a new online-only account (new customers only)
ING has had an online account that can be both setup and closed down in the future with just a few clicks.

But you have to be a resident, an A4 paper from the copshop with the NIE will not suffice.
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Old Feb 4th 2024, 4:01 pm
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Default Re: Thinking of going fully to Wise

Originally Posted by astera
ING has had an online account that can be both setup and closed down in the future with just a few clicks.

But you have to be a resident, an A4 paper from the copshop with the NIE will not suffice.
The green (CUE) certificate is just fine.

As spainrico says, why not use one of the Spanish online accounts - there is even one for non-residents then you have no issues and no fees!
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Old Feb 4th 2024, 4:21 pm
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Default Re: Thinking of going fully to Wise

Originally Posted by Cape Blue
I've had an account with La Caixa for over 20 years, also have my buildings insurance with them. They seem to be bending me over for various charges which have increased since Brexit, so I am tempted to move away from them. I've had a Wise FX account for a few years, I assume I'll need to get a full bank account with them - can you set up direct debits for IBI, agua, luz etc with Wise? Do they give you an ATM card to get cash if you need it?
Been with Caxia for 6 years and never paid 1c in charges!
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Old Feb 4th 2024, 4:25 pm
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Default Re: Thinking of going fully to Wise

Originally Posted by snikpoh
there is even one for non-residents then you have no issues and no fees!
Online account for non-residents? Which one is that?
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Old Feb 4th 2024, 7:20 pm
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Default Re: Thinking of going fully to Wise

Originally Posted by Notdunroamin
Been with Caxia for 6 years and never paid 1c in charges!
I'm non-resident.
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Old Feb 4th 2024, 8:40 pm
  #26  
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Default Re: Thinking of going fully to Wise

Originally Posted by spainrico
Whether it can totally replace a 'normal' Spanish bank account was the point my thread and I think the jury is out - for no-fee Spanish bank accounts you either comply with their conditions (taking insurance, investments etc it varies) or go for one of the online-only such as Openbank (Santander) or now Sabadell are also pushing a new online-only account (new customers only)
More commission-free accounts listed here, a couple allow bank branches to be used.
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Old Feb 4th 2024, 8:55 pm
  #27  
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Default Re: Thinking of going fully to Wise

Originally Posted by astera
Online account for non-residents? Which one is that?
HolaBank (La Caixa) - there are commissions though.
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Old Feb 5th 2024, 10:11 am
  #28  
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Default Re: Thinking of going fully to Wise

I must say I am very impressed with Revolut topping up with pounds from UK bank is literally instantaneous as is exchanging to euro which is done at a very good exchange rate with no fee. Their app is easy to use and I think one could easily use them for banking in Spain. I have been using currencyfair for years but with recent changes Revolut beat them hands down better exchange rate and zero fee.
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Old Feb 5th 2024, 10:15 am
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Default Re: Thinking of going fully to Wise

Originally Posted by astera
Online account for non-residents? Which one is that?
Wefferent from CajaMar
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Old Feb 5th 2024, 10:43 am
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Default Re: Thinking of going fully to Wise

Originally Posted by snikpoh
Wefferent from CajaMar
My wife has the wefferent account although she's resident and it works just as well as my standard Cajamar account . I have the standard Cajamar account as I've had it years and pay no fees as my state pension is paid into it. I do have a wefferent savings account.
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