# Spanish Bank Accounts



## TheWadeFamily (Oct 3, 2012)

Hi everyone. 1st time posting so bear with! Have searched on forums but struggling with the info I need.
We're planning to move (emigrate) to Spain in the next year or so. I want to understand a lot of things, but my first query is that of a Spanish Bank Account.
1) How/where can I open one, in the UK or best in Spain?
2) Would you recommend xfering money into it through a currency exchange company (for better rates). 
We wouldn't be residents for a year or so but I want to use said account for the purchase (or long term rental) of our pad.


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## goingtobcn (Sep 9, 2012)

TheWadeFamily said:


> Hi everyone. 1st time posting so bear with! Have searched on forums but struggling with the info I need.
> We're planning to move (emigrate) to Spain in the next year or so. I want to understand a lot of things, but my first query is that of a Spanish Bank Account.
> 1) How/where can I open one, in the UK or best in Spain?
> 2) Would you recommend xfering money into it through a currency exchange company (for better rates).
> We wouldn't be residents for a year or so but I want to use said account for the purchase (or long term rental) of our pad.


Hello and welcome  Which part of Spain are you moving to?
I am also new and don't have a bank account yet (we move at end of Oct), but I think it's definitely easier to open the account from Spain. It would have to be a non-residents account though, until you get your NIE number. We went into a bank to try to open a non-residents account when we were in BCN last week, and they said it was better to wait until we arrive and have NIE numbers as the monthly costs are lower. If you need an account soon though, then you'll have to open a non-resident one.

I don't know about your second question, but will be interested to see other people's answers!


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## xabiaxica (Jun 23, 2009)

TheWadeFamily said:


> Hi everyone. 1st time posting so bear with! Have searched on forums but struggling with the info I need.
> We're planning to move (emigrate) to Spain in the next year or so. I want to understand a lot of things, but my first query is that of a Spanish Bank Account.
> 1) How/where can I open one, in the UK or best in Spain?
> 2) Would you recommend xfering money into it through a currency exchange company (for better rates).
> We wouldn't be residents for a year or so but I want to use said account for the purchase (or long term rental) of our pad.


:welcome:


you can open a non-resident bank account easily - you do have to come to Spain to do it, although I have heard that some banks allow you to open an account online I don't know anyone who has done it!

you can usually do this with your passport as ID although some banks are asking for NIE numbers

after you move here you should register as resident after 90 days & then you can change your account to a residents account - there are usually less bank charges then & there are tax advantages

there have been a couple of discussions recently about transferring money if you have a bit of a search


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## 90199 (Mar 21, 2010)

Transfer your money with companies like Smart or Currencyfair, you will get a better rate of exchange and with Smart over 3000 there is no commission.

I have used Smart and find them very reliable

Foreign Money & Currency Exchange Services, Euro Exchange, UK Currency Converter :: SmartCurrencyExchange.com 

I am also thinking of investigating what Currencyfair have to offer.

http://www.currencyfair.com/home-5?utm_expid=62590378-6&utm_referrer=http%3A%2F%2Fwww.google.es%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D1%26ved%3D0CB4QFjAA%26url%3Dhttp%253A%252F%252Fwww.currencyfair.com%252F%26ei%3DZMhuUIDnAYrNhAfk54CQAw%26usg%3DAFQjCNHSKiOT1-EUqQhfzaPuA-WcVgzOaw%26sig2%3De1L49RMe24llK8oSrhVcZQ


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## welshduo (Aug 26, 2012)

Has anybody used Hifx. We are in the process of buying a property and considering using them soon. Any feedback or advice would be very welcome.


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