# Savings accounts



## goingtobcn (Sep 9, 2012)

Hi all,

We'd like to open a savings account for the money that we're making whilst here in Spain. It won't be huge amounts, and we're only here for 2 years. After that, we might be back in the UK, or in another European country (depending on my husband's job).

Can anyone recommend a savings account with a decent interest rate? I'm also looking for a comparison website - found this one Los mejores depósitos bancarios a plazo fijo - Comparador depósitos but any other advice appreciated 

Thank you as always


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## xicoalc (Apr 20, 2010)

Ufff - under the bed? Better rates of interest and safer lol

On a serious note, ING were offering some ok packages but that was a while ago - might be worth checking them out!


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## gus-lopez (Jan 4, 2010)

steve_in_spain said:


> Ufff - under the bed? Better rates of interest and safer lol
> 
> On a serious note, ING were offering some ok packages but that was a while ago - might be worth checking them out!


Normally they only offer decent rates if you are actually a UK resident.


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## 90199 (Mar 21, 2010)

Interest in Spain, whahahaha!!!!!!!!!!!!!!!


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## goingtobcn (Sep 9, 2012)

Thanks all, I know the interest rate isn't great, but we should be able to get something better than our current account.
Steve - under the bed does seem tempting though :lol:
gus-lopez - there is a Spanish branch of ING, their rates aren't great though
Hepa - I know!


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## brocher (Mar 21, 2011)

Did you tell HMRC you were leaving permanently or temporarily?

Unless you said you were leaving permanently, they'll probably have said you are still tax resident until this coming April??? In which case, I don't think there is anything to stop you opening a UK account before then, if that would be any use to you. You could, I expect, register for interest to be paid gross once you are no longer tax resident.

Virgin were offering reasonable savings accounts recently - the interest rate didn't include one of those stupid introductory bonuses, where interest falls to near zero after initial year.


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## djfwells (Sep 28, 2009)

Just last week the Bank of Spain "Recommended" that the Banks and Cajas capped interest rates at 1.75% for 1 year deposits, rising to 2.75% for deposits of over 1 year. If the Banks follow this advise - and seem to do so - then there may not be too much in it.


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## Calas felices (Nov 29, 2007)

I think you will find that most UK banks/bs's etc insist you must be resident in the UK to open an account with them. Nothing to do with where you are tax resident - part of the money laundering regulations.


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## brocher (Mar 21, 2011)

Calas felices said:


> I think you will find that most UK banks/bs's etc insist you must be resident in the UK to open an account with them. Nothing to do with where you are tax resident - part of the money laundering regulations.


From Virgin Bank T & C's

http://bank.virginmoney.com/downloads/Savings_Accounts_TandCs.pdf


Opening your account
1.1 Unless the key product information sheet provides
otherwise an account cannot be opened if:
• it is to be operated for business purposes or for a
club or association;
• your address is “care of” or not within the UK;
• a prospective account holder is not resident in the
UK for tax purposes;


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## baldilocks (Mar 7, 2010)

But there are a number of us who have bank accounts in the UK with no problems


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## goingtobcn (Sep 9, 2012)

We have accounts in the UK, but I think to open a new one you're supposed to be resident in the UK. In any case, we're looking for a savings account here in Spain for our €s - under the bed may well be best 

brocher - sooo many banks do the introductory rate thing - means keeping a closer eye on things!


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## NotinUse (Oct 3, 2009)

Invest your money in food the way it's going up it will return a better rate than any bank


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