# Spanish Bank Accounts



## paul44 (May 19, 2009)

I am starting to plan a move for next year and as I am over in April thought it might be worthwhile opening a bank account just wondered what peoples impression of SolBank is like? I have been corresponding with them by email in English and they seem pretty efficient plus they give free banking if you deposit 700 euro's a month in the account which is ok.

If anyone has any other banks where they think I should investigate let me know. We are looking to plot up in or around Benalmádena give or take 10km and thankfully have no reason or need to work.

Different subject anyone know what the long term rental's are coming out at in this area at the moment? looking at a 2 bed apt doesn't have to be fancy just functional can't see the point of buying but you never know in the future and that way I'll be mobile if I want a change later!

Cheers
Paul


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## jojo (Sep 20, 2007)

We were with Sol Bank and they seemed ok. The one thing we found tho, is that unlike the UK, most ATMs are chargeable unless its your own bank, so if you use them alot it maybe worth making sure that its easy to get money out and that you're near your branch or a solbank ATM - a silly little thing but it can add up!!

Jo xxx


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## paul44 (May 19, 2009)

jojo said:


> We were with Sol Bank and they seemed ok. The one thing we found tho, is that unlike the UK, most ATMs are chargeable unless its your own bank, so if you use them alot it maybe worth making sure that its easy to get money out and that you're near your branch or a solbank ATM - a silly little thing but it can add up!!
> 
> Jo xxx


Thanks Jo yes I have already extracted that little thing out of them its 1.2% or a minimum 80c per transaction as I might want to withdraw in Ireland. But if I do an online SEPA transfer so long as it's under 50k that's a freebie


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## mrypg9 (Apr 26, 2008)

Solbank is no more...it's now BS, Banco Sabadell.
I would never recommend a bank in any country as quality of service is so dependant on the quality of staff at your local branch.
I bank with BS, have done so for four years and have had first-class service....but then the staff at my branch are exceptionally efficient and pleasant.
As for rentals...I think you are making the right decision. Rent until you feel settled.
We started out in an apartment and found it wasn't for us so moved to a house with our own pool and privacy.
One call to a removal company, that's all it took.
Rental prices vary and there's room to negotiate in most cases, especially if you have an inducement for a reduction such as the cash to pay six months down.
I would say that as with most things, you get what you pay for.
I would personally avoid urbs/communities with a high turnover of renters and those with a high number of holiday lets.
But that's just me.


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## baldilocks (Mar 7, 2010)

jojo said:


> We were with Sol Bank and they seemed ok. The one thing we found tho, is that unlike the UK, most ATMs are chargeable unless its your own bank, so if you use them alot it maybe worth making sure that its easy to get money out and that you're near your branch or a solbank ATM - a silly little thing but it can add up!!
> 
> Jo xxx


Jo's point is very valid. We were in Galicia on holiday last year and our bank (Caja Granada) is part of the 6% Red. We went to an ATM that wasn't part of that network and on a 100€ withdrawal they wanted to charge 12.95. Around the corner a bank on the same network charged only 80c.


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## paul44 (May 19, 2009)

baldilocks said:


> Jo's point is very valid. We were in Galicia on holiday last year and our bank (Caja Granada) is part of the 6% Red. We went to an ATM that wasn't part of that network and on a 100€ withdrawal they wanted to charge 12.95. Around the corner a bank on the same network charged only 80c.


Yes the ATM fee's are quite outragous seeing as I'm used to paying nothing I'll probably just do an electronic transfer when in Ireland as that's free and just use the cards when I move. So how many networks are there in Spain ?


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## baldilocks (Mar 7, 2010)

paul44 said:


> Yes the ATM fee's are quite outragous seeing as I'm used to paying nothing I'll probably just do an electronic transfer when in Ireland as that's free and just use the cards when I move. So how many networks are there in Spain ?


Three ATM networks operate in Spain –4B (the most common), ServiRed and 6000. You can generally use any ATM to access money from your account, although if the ATM you use isn’t one linked to your bank there may be a charge. Some banks allow you to make three withdrawals a month from ‘foreign’ Cash Machines before they charge you. Others are not so generous. Because of this, you may wish to consider opening a bank account with the bank owning your nearest or most convenient ATM.

from: Banking


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## paul44 (May 19, 2009)

baldilocks said:


> Three ATM networks operate in Spain –4B (the most common), ServiRed and 6000. You can generally use any ATM to access money from your account, although if the ATM you use isn’t one linked to your bank there may be a charge. Some banks allow you to make three withdrawals a month from ‘foreign’ Cash Machines before they charge you. Others are not so generous. Because of this, you may wish to consider opening a bank account with the bank owning your nearest or most convenient ATM.
> 
> from: Banking



Solbank who I am interested in use ServiRed so I'll make sure I'm on the ball here ha ha!!!!


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## Alcalaina (Aug 6, 2010)

paul44 said:


> Solbank who I am interested in use ServiRed so I'll make sure I'm on the ball here ha ha!!!!


So do BBVA, Bankia and La Caixa, three of the biggest banks in Spain with branches everywhere.

As pointed out already, Solbank is now part of Sabadell - there has been a big tidy-up of all the little banks and _cajas_ (building societies) in Spain over the past two years and there are now just 16 left I think, after all the mergers.


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## Stravinsky (Aug 12, 2007)

paul44 said:


> Solbank who I am interested in use ServiRed so I'll make sure I'm on the ball here ha ha!!!!


I have been with SolBank (Sabadell) for about 6 years. Yes, their presige account has charges attached to it, but there are other accounts with them

I dont pay any bank charges, and they pay me a small percentage of any utility bills that go out by d/d.

I dont pay atm charges at SOL bank atms, obviously ... and I dont pay at Servired.

Before I went to them I was screwed over by Banco De Valencia, and BBVA

I have very little, if anything, to complain about with SOL


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## calum700 (Nov 4, 2011)

Hi Paul,

I presume your in the UK at the moment? I don't suppose you bank with Lloyds TSB do you??

We have just moved to La Cala de Mijas (just down the road from Banelmadena, my other half will be able to give you good rental agents we went with and which ones to avoid if you decide to rent) and being with Lloyds in the UK we opened an international euro account with a local branch in Fuengirola and we were able to open the account from our hometown in Aberdeen without even setting foot in Spain to rent a property. The account is €20 a month (this includes many incentives ie travel insurance etc) but if you hold a balance of €2500 the account is free. With this you get 1 debit card (€9 per YEAR for an additional card) and you can get free account transfers from the UK to Spain (as long as you have €2500 in the account) also the debit cards allow you to withdraw cash for free at all ServiRed cash machines (they are everywhere in Spain). 

I don't know how much you read into the state of the eurozone and the collapse of the euro (even though it's never going to fail because of the heavy investments, but that 'debate' is for another thread!) we have been assured that our money is in a Lloyds account so even if the Spanish banks shut up shop our money is safe. 

Hopefully this helps you, but if your not a Lloyds customer in the UK than apologies for wasting your time. 

Cheers

Calum


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## Stravinsky (Aug 12, 2007)

calum700 said:


> Hi Paul,
> 
> I presume your in the UK at the moment? I don't suppose you bank with Lloyds TSB do you??
> 
> ...


With respect Calum, that is very costly for a bank account.
Even the SOL Prestige account with similar benefits is €22 a quarter and you dont need to maintain a balance of €2500. Incoming transfers again are free

Many of the main banks in Spain have similar deals, but not costing €240 a year as you mention


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## calum700 (Nov 4, 2011)

Stravinsky said:


> With respect Calum, that is very costly for a bank account.
> Even the SOL Prestige account with similar benefits is €22 a quarter and you dont need to maintain a balance of €2500. Incoming transfers again are free
> 
> Many of the main banks in Spain have similar deals, but not costing €240 a year as you mention


This is only expensive if you don't maintain the balance. I have no idea if Paul, or anyone for that matte, has the disposable cash to maintain this, some people do.

I'm only sharing my personal experiences, take from them what you wish


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## mrypg9 (Apr 26, 2008)

Although I said in an earlier post I would not recommend a bank I must say that at any mention of LloydsTSB I feel like grabbing a gun.
I note that they have the dubious distinction of being the most complained about UK bank.
I haven't used them in the UK but I have accounts with LloydsOffshore and they are the most disorganised, incompetent bunch I have ever come across in my experience of banking in five countries.
Compensation paid to me for errors now amounts to 200 euros and I'm expecting more.
I only stay with them as my accounts are used merely as a funnel into my Spanish accounts.


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## Stravinsky (Aug 12, 2007)

calum700 said:


> This is only expensive if you don't maintain the balance. I have no idea if Paul, or anyone for that matte, has the disposable cash to maintain this, some people do.
> 
> I'm only sharing my personal experiences, take from them what you wish


I'm not criticising ... I'm just making comment about what is around. I take what you say about the €2500, but my personal opinion on that is why should the banks dictate what I have to have in my account when I am giving them the benefit of my custom  After all, they give me naf all interest back in Spain for leaving money in the account


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## calum700 (Nov 4, 2011)

Stravinsky said:


> I'm not criticising ... I'm just making comment about what is around. I take what you say about the &#128;2500, but my personal opinion on that is why should the banks dictate what I have to have in my account when I am giving them the benefit of my custom  After all, they give me naf all interest back in Spain for leaving money in the account


True, it is unfair, but really we have to choose the best of a bad bunch, even in the UK. I've had bad experiences with many banks over the years and that was before all the banks realised that huge bonuses were screwing the economy. 

In response to the other comment, i have been led to believe by the lloyds branch in Fuengirola, Lloyds offshore is a different 'group' than Lloyds bank international and so far (touch wood) we've had no complaints about them. Only time will tell though.


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## Stravinsky (Aug 12, 2007)

calum700 said:


> True, it is unfair, but really we have to choose the best of a bad bunch, even in the UK. I've had bad experiences with many banks over the years and that was before all the banks realised that huge bonuses were screwing the economy.
> 
> In response to the other comment, i have been led to believe by the lloyds branch in Fuengirola, Lloyds offshore is a different 'group' than Lloyds bank international and so far (touch wood) we've had no complaints about them. Only time will tell though.


Yes, if you speak to Barclays in Spain they will tell you that they have nothing to do with Barclays UK, and I heard that said about other UK banks etc that are here .. such as Halifax. They do seem to have some kind of interaction, but when it comes down to it they claim to be separate


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## paul44 (May 19, 2009)

calum700 said:


> Hi Paul,
> 
> I presume your in the UK at the moment? I don't suppose you bank with Lloyds TSB do you??
> 
> ...


Hi Calum thanks for the heads up I'm not actually in the UK.I'm based in the Irish Republic so I am well versed in the crisis we are already deemed as bankrupt but are slowly putting our house in order.

I don't really want to pay any bank fees so a bog standard account with a debit card and electronic banking for me is fine.We are definately not buying anything as renting is quite cheap so if you have details of any good agents do send them

We have friends up in the peublo hence the attraction to the area.

Solbank have been very good in there communication with me answring all questions quickly I can even start the process from Ireland and finalise when I'm next over in April which is the plan

Cheers
Paul


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## baldilocks (Mar 7, 2010)

Stravinsky said:


> Yes, if you speak to Barclays in Spain they will tell you that they have nothing to do with Barclays UK, and I heard that said about other UK banks etc that are here .. such as Halifax. They do seem to have some kind of interaction, but when it comes down to it they claim to be separate


So how come Barclays "UK" are closing lots of Barclays "Spain" branches? Perhaps it's a case of "It's not me guv, it's the uvvers"


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## mrypg9 (Apr 26, 2008)

In the good old days we used to pay smallish fees for the convenience of using a bank. True, some people complained. But in those days there was a strict separation between retail and investment banking. You could be sure that your deposits in your High Street bank were safe.
Then along came Maggie. Big bang, bonfire of regulations. Your nest-egg invested, safely as you thought, could now be invested in buying stocks, hedge funds, foreign treasury bonds (Greek!!) and all the other clever financial instruments devised to enrich a few using your money.
We know where that lead to.
So now there is to be a return to a separation between retail and investment banking and your money will be reasonably safe. For this, you must pay a small price, as in the 'good old days'.
Seems a good trade-off to me. Banking is a service which like any other has to be paid for in one way or another.
Incidentally, I was unaware that the Republic of Ireland was 'bankrupt', by which I presume the poster means 'insolvent'.
My impression was that the country was slowly, albeit very slowly, emerging from a crisis of liquidity.
And being insolvent and being illiquid are entirely different states.
I have at times been 'illiquid'.
I have never been insolvent and fingers crossed never will.....


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## mrypg9 (Apr 26, 2008)

Have just checked...I pay £74 per annum for all my Lloyds Offshore accounts.
They charge for transfers within the EU but I don't use them as I have other means of paying accounts in other EU states.
I cannot understand the problem with paying a fee for banking services.
It's the quality o0f the service I get for my fee that concerns me.


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## paul44 (May 19, 2009)

mrypg9 said:


> In the good old days we used to pay smallish fees for the convenience of using a bank. True, some people complained. But in those days there was a strict separation between retail and investment banking. You could be sure that your deposits in your High Street bank were safe.
> Then along came Maggie. Big bang, bonfire of regulations. Your nest-egg invested, safely as you thought, could now be invested in buying stocks, hedge funds, foreign treasury bonds (Greek!!) and all the other clever financial instruments devised to enrich a few using your money.
> We know where that lead to.
> So now there is to be a return to a separation between retail and investment banking and your money will be reasonably safe. For this, you must pay a small price, as in the 'good old days'.
> ...


Well we would have been broke without the bail out so in my eyes teetering on bankrupt but as I have and you have said slowly turning it around. We have faced up to it painfull but nessessary a few other countries need to do the same and quick.No one can live beyond their means indefinately


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## Stravinsky (Aug 12, 2007)

baldilocks said:


> So how come Barclays "UK" are closing lots of Barclays "Spain" branches? Perhaps it's a case of "It's not me guv, it's the uvvers"


Thats exactly what I think it is. When it suits them, its useful to not be linked to their UK counterparts.


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## Alcalaina (Aug 6, 2010)

calum700 said:


> True, it is unfair, but really we have to choose the best of a bad bunch, even in the UK. I've had bad experiences with many banks over the years and that was before all the banks realised that huge bonuses were screwing the economy.
> 
> In response to the other comment, i have been led to believe by the lloyds branch in Fuengirola, Lloyds offshore is a different 'group' than Lloyds bank international and so far (touch wood) we've had no complaints about them. Only time will tell though.


I am currently going through divorce proceedings with Lloyds International in Sotogrande. 

When they were Halifax Hispania we could transfer money from our Halifax UK account at a reasonable exchange rate and no charges. We also negotiated a good fixed term deal on our savings account.

Now they have been swallowed by Lloyds the exchange rate is worse than you'd get using an ATM here on your UK account. They rolled over our savings account at the end of the term without asking us, at a much reduced rate. Then when we opened an account with La Caixa at a much better rate, Lloyds charged us €75 to transfer the money!


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## mrypg9 (Apr 26, 2008)

Alcalaina said:


> I am currently going through divorce proceedings with Lloyds International in Sotogrande.
> 
> When they were Halifax Hispania we could transfer money from our Halifax UK account at a reasonable exchange rate and no charges. We also negotiated a good fixed term deal on our savings account.
> 
> Now they have been swallowed by Lloyds the exchange rate is worse than you'd get using an ATM here on your UK account. They rolled over our savings account at the end of the term without asking us, at a much reduced rate. Then when we opened an account with La Caixa at a much better rate, Lloyds charged us €75 to transfer the money!


Lloyds International, Lloyds UK, Llloyds Offshore ...all a bunch of tossers.
My son did some contract work on disaster recovery (!) for Lloyds UK last year. He described the organisation -and this at the top level - as chaotic beyond belief.
When I get up enough energy I shall switch my offshore bank, probably to Barclays.
They were our business bank in the UK and we found them perfectly satisfactory.


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## elena40 (Jan 6, 2012)

paul44 said:


> I am starting to plan a move for next year and as I am over in April thought it might be worthwhile opening a bank account just wondered what peoples impression of SolBank is like? I have been corresponding with them by email in English and they seem pretty efficient plus they give free banking if you deposit 700 euro's a month in the account which is ok.
> 
> If anyone has any other banks where they think I should investigate let me know. We are looking to plot up in or around Benalmádena give or take 10km and thankfully have no reason or need to work.
> 
> ...


Hi Solbank is very good at what they do and i have an account.
Rental is approx 475-650 depending on area

elena


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## Mexberry (Dec 19, 2011)

Although the banks may share the name of their UK counterparts and there will be shares of one that are owned by the parent organization. However the Spanish 'Lloyd's bank will be constituted under Spanish law and will be separate from the foreign parent. If the Spanish operation were to ' fail' then your rights will be subject to Spanish and any EU laws. Don,t assume that some London banker will bail you out in a dispute simply because there is a common name. 
Mexberry.


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## snikpoh (Nov 19, 2007)

*Credit card charges*

What do people pay for credit cards?

We have a joint credit card with Banesto - they charge us E43 each per year just to have the card plus there are bank charges on top.

For our main account, we only have a few utility bills coming out plus the credit card payments yet we are charged over E80 in charges each year!



Where can we get a free (or cheaper) credit card?


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## Stravinsky (Aug 12, 2007)

snikpoh said:


> What do people pay for credit cards?
> 
> We have a joint credit card with Banesto - they charge us E43 each per year just to have the card plus there are bank charges on top.
> 
> ...


I dont pay anything for anything. As I said before the only payment is from SOL Bank to me. They pay me a small percentage of any utility bills that go out by direct debit

We have two credit cards and two debit cards. The only requirement for the aqccount iirc is that you have a regular payment (no stipulated amount) going into the account


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## baldilocks (Mar 7, 2010)

snikpoh said:


> What do people pay for credit cards?
> 
> We have a joint credit card with Banesto - they charge us E43 each per year just to have the card plus there are bank charges on top.
> 
> ...


Do you mean CREDIT card or DEBIT card?


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## Alcalaina (Aug 6, 2010)

We don't have a credit card on our Spanish account (La Caixa), there's no point. Our debit cards were free this first year and will be €28 per year for two cards in future.


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## snikpoh (Nov 19, 2007)

baldilocks said:


> Do you mean CREDIT card or DEBIT card?


Definitely CREDIT. We pay 28 euros each per year for our cashpoint/debit cards.

I'm beginning to think, though, that it may be a false economy to have credit cards in Spain. The reason we got them was because they are '3 2 1' cards. That is, you get 3% of petrol, 2% of something else and 1% off other things.

We have money that comes in from UK but quite irregularly, we also have investments which we take money from as needed. Because our income is sporadic (despite having healthy balances in the bank), our credit rating is [email protected] - at least according to carrefour who will not give us one of their PASS cards.

Because we do not have regular income, the SOL bank option is a non-starter.


Any other ideas?


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## Mexberry (Dec 19, 2011)

Debit cards are cheaper than credit cards. One of my airline branded cr. cards charges 19% , but gives me airmiles and a half price ticket once a year. Provided I pay it off monthly, which does not always happen, the high interest charges do not effect me. 
What I find irksome is the subscriptions to a service (BBC i player for one) that continue to charge your credit card until you cancel. I bet there are many who are subscribing to a service that they have long forgotten about and do not remember until the expiry date on the cr. card is looming at which point you receive an e mail reminder.


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## Alcalaina (Aug 6, 2010)

Credit cards are only worth having if you need credit, i.e. you are expecting money in the future but need to pay for something straight away. I don't think there is anything else they can do that a debit card can't?

Also the Spanish banks offer Visa Electron so you can't accidentally go overdrawn.


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## Stravinsky (Aug 12, 2007)

Alcalaina said:


> Credit cards are only worth having if you need credit, i.e. you are expecting money in the future but need to pay for something straight away. I don't think there is anything else they can do that a debit card can't?
> 
> Also the Spanish banks offer Visa Electron so you can't accidentally go overdrawn.


Well, no ... I carry a credit card instead of cash. At the end of the month I pay off what is on it. On the one hand I get up to a months free credit. On the other hand your own money is in the bank earning a pitiful amount of interest ... well, thats the theaory ... but thats how I have always used a credit card

A debit card conversely takes the money out of your account immediately.


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## Alcalaina (Aug 6, 2010)

Stravinsky said:


> Well, no ... I carry a credit card instead of cash. At the end of the month I pay off what is on it. On the one hand I get up to a months free credit. On the other hand your own money is in the bank earning a pitiful amount of interest ... well, thats the theaory ... but thats how I have always used a credit card
> 
> A debit card conversely takes the money out of your account immediately.


Well yes, that's what I used to do in the UK when I was earning a monthly salary. The credit cards were free, in fact they offered cashback on every pound spent, It made sense then.

But there is no point in paying a hefty annual charge for a credit card in Spain if you don't actually need credit and aren't getting any cash benefits.


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## Solwriter (Jan 10, 2012)

The only reason we keep a credit card is because we have found it impossible to hire a car with a debit card.
Not that we need to hire that much, but it's nice to know we have backup.


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## baldilocks (Mar 7, 2010)

Solwriter said:


> The only reason we keep a credit card is because we have found it impossible to hire a car with a debit card.
> Not that we need to hire that much, but it's nice to know we have backup.


We've never had any problems hiring a car with a debit card even when the bill has been over £700. I think much depends on the card issuer!


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## Solwriter (Jan 10, 2012)

baldilocks said:


> We've never had any problems hiring a car with a debit card even when the bill has been over £700. I think much depends on the card issuer!


La Caixa. 
We were told by several different hire companies that only credit cards were accepted because these covered for insurance.
We were actually stuck hundreds of miles from home at the time and had to borrow a friend's card to hire a vehicle to get home.
Never want to risk that again.


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## gus-lopez (Jan 4, 2010)

Solwriter said:


> La Caixa.
> We were told by several different hire companies that only credit cards were accepted because these covered for insurance.
> We were actually stuck hundreds of miles from home at the time and had to borrow a friend's card to hire a vehicle to get home.
> Never want to risk that again.


No , the real reason that they want a credit card ( some of the dubious ones ! ) is that they cannot add additional spurious amounts to a debit card as they can with a credit card !
I've never had a problem with my La Caixa debit card hiring a car , then again it was in the UK & with hertz & avis.


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## Stravinsky (Aug 12, 2007)

Alcalaina said:


> But there is no point in paying a hefty annual charge for a credit card in Spain if you don't actually need credit and aren't getting any cash benefits.


True, hence why I have an account now where I dont have to pay


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## Solwriter (Jan 10, 2012)

gus-lopez said:


> No , the real reason that they want a credit card ( some of the dubious ones ! ) is that they cannot add additional spurious amounts to a debit card as they can with a credit card !
> I've never had a problem with my La Caixa debit card hiring a car , then again it was in the UK & with hertz & avis.


I agree with what they do.
But our La Caixa debit card was refused at Hertz in Santander.


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