Where to keep savings in Spain
 

I'm in the process of selling my house in France and moving to Almeria. I need to put the money somewhere whilst I find/purchase a new house in Almeria. Any Spanish bank recommendations would be appreciated.

Re: Where to keep savings in Spain
 

Check ING Direct they give one of the best rates at the moment.

Re: Where to keep savings in Spain
 

We used BBVA and Bancaja when we lived there, helpful and always someone who spoke English there. however that was some 7 years ago, so things might have changed.

Re: Where to keep savings in Spain
 

In your mattress?

Re: Where to keep savings in Spain
 

Put it in my bank account. I'll keep it safe for you.
Honestly.

Re: Where to keep savings in Spain
 

"Check ING Direct"

...and have you read the terrible reviews?

Re: Where to keep savings in Spain
 

I'm with Fred!!

Re: Where to keep savings in Spain
 

Fred is definitely right..............
Today I learnt that when you want to take money out of a Spanish investment (as against a normal bank account) 20% is automatically withheld to cover the tax on the profit. This is not accounted for until the next declaracion de renta (tax return) when a refund (or maybe demand if the investment was exceptionally profitable hahaha) is given or offset against tax owed.
So today I am left with a shortfall of money in the return of my investment so I will have to take a mortgage (with its associated costs) whilst the government enjoys my money interest-free until next June.
Rip off or what?

Re: Where to keep savings in Spain
 

That's why he should use a bank account.

Re: Where to keep savings in Spain
 

Which bank do you use in France?
Do they have branches in Spain?

Re: Where to keep savings in Spain
 

I never keep more than a few hundred quid in my Spanish bank , seriously, if you have a large lump of cash get it into a UK or Gibraltar account ....quickly , NEVER Spain.

Re: Where to keep savings in Spain
 

Why? UK banks have problems, rip people off and need bail outs so why so much faith?

Re: Where to keep savings in Spain
 

You have recourse in the UK plus a reliable guarantee , good luck with that in Spain!:thumbdown:


Are your savings protected: How to keep your money safe

Re: Where to keep savings in Spain
 

OK fine - this from Blevins Franks:
EU banks

'Under an EU directive, each EU country provides a bank deposit guarantee of €100,000. In the event a bank fails, your national deposit guarantee will refund your savings, up to the limit of €100,000. '

Re: Where to keep savings in Spain
 

Mmm Blevins Franks and the EU ;) , I`ll be sticking with the UK every time thank you , it allows me to sleep soundly;)