# Bank Accounts



## captaindog (Jun 8, 2010)

Morning all!! I guess you have been asked this lots but can anyone recommend a decent Spanish current/savings account with a bank that won't cripple me with fees when I try to send sterling from a UK account?


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## baldilocks (Mar 7, 2010)

captaindog said:


> Morning all!! I guess you have been asked this lots but can anyone recommend a decent Spanish current/savings account with a bank that won't cripple me with fees when I try to send sterling from a UK account?


A lot of the cajas (=UK building society type) are merging to improve their resistance to financial problems. CajaSur is in Administration and has been taken in hand by Banco de España, prior to that there was talk of CajaSur merging with UniCaja. We are with Caja Granada but, of course, it depends where you live as to whether which Cajas serve your area. We don't pay any charges for transfers from UK. Bear in mind, you probably won't get any interest on your account if you are non-resident.


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## captaindog (Jun 8, 2010)

baldilocks said:


> A lot of the cajas (=UK building society type) are merging to improve their resistance to financial problems. CajaSur is in Administration and has been taken in hand by Banco de España, prior to that there was talk of CajaSur merging with UniCaja. We are with Caja Granada but, of course, it depends where you live as to whether which Cajas serve your area. We don't pay any charges for transfers from UK. Bear in mind, you probably won't get any interest on your account if you are non-resident.


Thanks Baldilocks. What's Jaen like? Driven through it on my way to Toledo but not stopped. The city is very pretty?


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## baldilocks (Mar 7, 2010)

captaindog said:


> Thanks Baldilocks. What's Jaen like? Driven through it on my way to Toledo but not stopped. The city is very pretty?


The province is very heavily populated - with olive trees! There are large virually uninhabited areas in the mountainous parts. There are some very beautiful areas (Cazorla et al is the largest natural parque in Spain and really beautiful) with not overmuch industry.

If you like the heat you can venture into the Valle de Guadalquivir (Andujar regularly 40° +). Some areas have more Brits than others but the majority of them are not the bar-propping types and those that there are, are usually those who wanted to live in Little Britain on the costas but couldn't afford it. Here in the Sierra Sur de Jaén we have usually a max temp of about 35°. House prices here are, on the whole, reasonable, e.g. we paid 85k for our town house (five levels, 4 BR, 1 BA) in which we have made some alterations - now 5BR 2BA and we still have room for another thre bedrooms and a bathroom in the attic and the house was ready to move into when we bought it with nothing to do.

The only problem, if you need it, is a lack of employment.


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## Stravinsky (Aug 12, 2007)

SOL Bank dont charge for transferring money in, and they do a special ex pats account which includes all kinds of extras. You do pay for the account though, but iirc its no more than I used to pay for UK accounts with these additional benefitis


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## 90199 (Mar 21, 2010)

Caixa are worth enquiries, mine cost me 14€ a year. I use their hole in the wall to transfer from Nationwide, I was getting 1.20 € to the pound last week with no commission charges.


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## morlandg (Jun 8, 2008)

Hepa said:


> Caixa are worth enquiries, mine cost me 14€ a year. I use their hole in the wall to transfer from Nationwide, I was getting 1.20 € to the pound last week with no commission charges.


I'm not nit-picking but do you mean you withdrew some money from your Nationwide account at your hole in the wall dispenser at your spanish bank?
If so this is not transferring money from one bank account to another.
I use the above method (withdrawing money from Nationwide a/c at a cash dispenser here in spain) to effectively transfer money from the UK to here. Nationwide is the only UK bank/building society that allows this without makiing charges. Hope this all makes sense! I got 1.23 the other week. Excellent rate.


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## rochepi (Jun 28, 2010)

*Bank accounts*

Hello

I would recommend you INGdirect or Openbank. These are banks that you work with via internet. You can make transfers to other accounts in Europe for free, they dont have any charges for anything (except for withdrawal of money in certain branch of other banks, but you have all the information when you open the account). I am spanish and the only accounts I have are in these two banks I have told you. You can also try barclays, I have heard its not bad.

I hope i have been of any help



captaindog said:


> Morning all!! I guess you have been asked this lots but can anyone recommend a decent Spanish current/savings account with a bank that won't cripple me with fees when I try to send sterling from a UK account?


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## 90199 (Mar 21, 2010)

morlandg said:


> I'm not nit-picking but do you mean you withdrew some money from your Nationwide account at your hole in the wall dispenser at your spanish bank?
> If so this is not transferring money from one bank account to another.
> I use the above method (withdrawing money from Nationwide a/c at a cash dispenser here in spain) to effectively transfer money from the UK to here. Nationwide is the only UK bank/building society that allows this without makiing charges. Hope this all makes sense! I got 1.23 the other week. Excellent rate.


Exactly, I am allowed to withdraw 300€ a day cash, it then goes into an envelope and into the Caixa account, using the same machine. I do this when the Euro is down and the pound is strong. Just recently I have transferred over 10,000 € using this method, tis a lot cheaper, no commission, and the bank is within walking distance.


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## captaindog (Jun 8, 2010)

Thanks guys!! Have you been able to transfer sterling funds directly into your Spanish account and let the Spanish bank convert them into Euros. I have sterling funds offshore and don't really want them hitting the UK again.


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## Guest (Jul 19, 2010)

Bear in mind that large transfers (especially from offshore accounts) often trigger the banks to ask why/where/inside leg measurements now


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## 90199 (Mar 21, 2010)

captaindog said:


> Thanks guys!! Have you been able to transfer sterling funds directly into your Spanish account and let the Spanish bank convert them into Euros. I have sterling funds offshore and don't really want them hitting the UK again.


I have transferred from U.K. using Halifax U.K. to Halifax Spain. I cannot envisage a problem but there is a Spanish declaration form to fill out. However the question regarding off shore should be asked of your Spain bank manager.

hepa


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## Guest (Jul 19, 2010)

baldilocks said:


> we paid 85k for our town house (five levels, 4 BR, 1 BA) in which we have made some alterations - now 5BR 2BA and we still have room for another thre bedrooms and a bathroom in the attic and the house was ready to move into when we bought it with nothing to do.
> 
> The only problem, if you need it, is a lack of employment.


 If only I could stand the south of Spain! Wish I could find a house up here at those prices...


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## shoemanpete (Jan 4, 2010)

You beat me to it Hepa. I recently opened an acct with Halifax and can transfer from my UK acct to here free. Acct costs 25E pa and no other charges. I am lucky I have a branch near me so very handy.


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## captaindog (Jun 8, 2010)

Anyone know if you can open a Spanish bank account before you arrive in Spain ie you don't have a Spanish address?


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## lynn (Sep 25, 2008)

captaindog said:


> Anyone know if you can open a Spanish bank account before you arrive in Spain ie you don't have a Spanish address?


Yes, you can open a non resident account. We opened our Halifax Hispania account when we still lived in the UK, using our UK address. Once we were resident they changed it over to a resident's account. The process to open the account was simple and everything was done from the UK.


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## baldilocks (Mar 7, 2010)

We also opened a non-resident's account but we did it here in Spain after we had decided on the rough area we wanted to live, so that we knew we had a branch of the bank near us (the Halifax would have been no use to us since they are near the costas). Make sure you go to a bank/branch where they really know what they are doing. Our first attempt was with Santander and the Asst Manager made such a cock-up of it that the Banco de España blocked our opening an account (with any bank) for three months which was, to say the least, inconvenient! 

We ended up with the Caja Granada on the recommendation of our abogada who also used that bank/branch and while waiting (three months, see above) to be able to open our own account we sent money to her account for making payments on our behalf.

Note: with many banks, etc. you may get no interest until you have a 'resident's' account.


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## captaindog (Jun 8, 2010)

Thanks Lynn and Baldilocks. Just spoke with Halifax and are going to open me an account. Job done!!!!


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## Dave and Anne Galicia (Nov 15, 2008)

*Life After Nationwide !!*



morlandg said:


> I'm not nit-picking but do you mean you withdrew some money from your Nationwide account at your hole in the wall dispenser at your spanish bank?
> If so this is not transferring money from one bank account to another.
> I use the above method (withdrawing money from Nationwide a/c at a cash dispenser here in spain) to effectively transfer money from the UK to here. Nationwide is the only UK bank/building society that allows this without makiing charges. Hope this all makes sense! I got 1.23 the other week. Excellent rate.


There must be an awful lot of Expats who operate their banking in Spain in this way - UK income into UK Bank - Nationwide Flex Account Debit card into Spanish Bank cash machine, 300 euros out for day to day spending and topping up Spanish Bank Account for direct debits etc. 

However, what is going to be the best solution for cash machine withdrawls from November 1st when Nationwide will be charging 2% plus £1 for each transaction, i.e. £6 on an exchange rate of 1.2.

HSBC, who we have an account with, charge a max of £5 but I believe the exchange rate may well be less than that given by Nationwide. 

Prepaid cards may be an option? FairFx charge 1.5 euros per withdrawl but at their exchange rate. The Caxton card does not charge but apparently offers a slightly lower exchange rate than FairFx. Would there be any problems using these cards and topping them up online using a Nationwide Debit Card?

What are others proposing to do??


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## baldilocks (Mar 7, 2010)

Dave and Anne Galicia said:


> There must be an awful lot of Expats who operate their banking in Spain in this way - UK income into UK Bank - Nationwide Flex Account Debit card into Spanish Bank cash machine, 300 euros out for day to day spending and topping up Spanish Bank Account for direct debits etc.
> 
> However, what is going to be the best solution for cash machine withdrawls from November 1st when Nationwide will be charging 2% plus £1 for each transaction, i.e. £6 on an exchange rate of 1.2.
> 
> ...


What we do now : My OAP (on which we can live comfortably)is paid in direct to our Spanish a/c with Caja Granada (transfer is free and rate is standard business rate) and my small employment pensions and equally small private pension go into an account in UK. When we want to make purchases in UK (e.g. Amazon, Bravissimo or Argos, etc) we use the UK account and have free shipping to a UK address from where someone who does regular trips with a van between UK and Spain brings them out for us (usually for free since we give him, and his wife Spanish lessons)


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## Stravinsky (Aug 12, 2007)

Dave and Anne Galicia said:


> There must be an awful lot of Expats who operate their banking in Spain in this way - UK income into UK Bank - Nationwide Flex Account Debit card into Spanish Bank cash machine, 300 euros out for day to day spending and topping up Spanish Bank Account for direct debits etc.
> 
> However, what is going to be the best solution for cash machine withdrawls from November 1st when Nationwide will be charging 2% plus £1 for each transaction, i.e. £6 on an exchange rate of 1.2.
> 
> ...


I'm not sure how many people actually do it this way .... I certainly dont know anyone

I have a currencies direct account which transfers a certain amount bank to bank with no charge by d/d every month. If you do d/d you get a decent rate of exchange and if you choose your bank wisely in Spain you dont get any charges there either

State pensions and Government pensions can be paid direct to a Spanish bank, and they usually give a very competitive rate of exchange because they are buying large amounts.


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## mrypg9 (Apr 26, 2008)

ShinyAndy said:


> Bear in mind that large transfers (especially from offshore accounts) often trigger the banks to ask why/where/inside leg measurements now



I transferred a largish sum from my offshore a/c to Solbank last week, no questions asked..
Maybe when you get to the £20k mark????
Or maybe Solbank aren't that inquisitive - they have never asked where funds I transfer originate.


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## Dave and Anne Galicia (Nov 15, 2008)

Stravinsky said:


> I'm not sure how many people actually do it this way .... I certainly dont know anyone
> 
> I have a currencies direct account which transfers a certain amount bank to bank with no charge by d/d every month. If you do d/d you get a decent rate of exchange and if you choose your bank wisely in Spain you dont get any charges there either
> 
> State pensions and Government pensions can be paid direct to a Spanish bank, and they usually give a very competitive rate of exchange because they are buying large amounts.


Noted - that is a common approach. However, in my experience for smaller amounts Currencies Direct and other such organisations could never match the exchange rate Nationwide uses and with no loading or fee the overall rate from Nationwide was always better. 

From the 1st November, use of the Halifax Clarity credit card for cash withdrawls has been suggested by some as the most competetive method. Interest will be due on the balance but this can be paid online before the settlement date to reduce interest charges to a minimum.

A Santander account is a posibility but with the poor reputation they have for customer service and the need to find a Santander Branch it's not an option I would consider.


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## Stravinsky (Aug 12, 2007)

Dave and Anne Galicia said:


> Noted - that is a common approach. However, in my experience for smaller amounts Currencies Direct and other such organisations could never match the exchange rate Nationwide uses and with no loading or fee the overall rate from Nationwide was always better.
> .


Well, when I researched the options, Currencies direct were in the right area. You have to have a d/d, If you dont then the rate isnt as good. Theres not a fee, its not loaded, and they were as good if not better than ITT, HIFX etc or the other "big" names


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## Dave and Anne Galicia (Nov 15, 2008)

Stravinsky said:


> Well, when I researched the options, Currencies direct were in the right area. You have to have a d/d, If you dont then the rate isnt as good. Theres not a fee, its not loaded, and they were as good if not better than ITT, HIFX etc or the other "big" names


Thanks and I stand corrected. My research was obviously not as thorough as yours. I will contact them and have a chat. It is certainly a better option to have an arrangement that is efficient, painless, and involving the minimum of worry so that one can concentrate on the better things in life - thats why we came to Spain in the first place. Thanks again for your help and advice.


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## gus-lopez (Jan 4, 2010)

mrypg9 said:


> I transferred a largish sum from my offshore a/c to Solbank last week, no questions asked..
> Maybe when you get to the £20k mark????
> Or maybe Solbank aren't that inquisitive - they have never asked where funds I transfer originate.


Anything over 3000€'s is notifiable by the bank , to the hacienda , whether it is a transfer from abroad, paid in in cash or a spanish cheque. I've even had a business ask for payment in multiple cheques all for under 2,999 €s !!!
When you 1st transfer money in or open an account there is a code for what the payment is for. Some banks ask you what it's for , others just put in what they fancy. when I transferred large amounts to buy the house it was put down as that but when I transferred our remaining money in 2003 I had to trawl through some 20 + pages to come up with something for the girl to put on the form. Now , when I transfer, normally via the internet , the same code is automatically used.


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## mrypg9 (Apr 26, 2008)

gus-lopez said:


> Anything over 3000€'s is notifiable by the bank , to the hacienda , whether it is a transfer from abroad, paid in in cash or a spanish cheque. I've even had a business ask for payment in multiple cheques all for under 2,999 €s !!!
> When you 1st transfer money in or open an account there is a code for what the payment is for. Some banks ask you what it's for , others just put in what they fancy. when I transferred large amounts to buy the house it was put down as that but when I transferred our remaining money in 2003 I had to trawl through some 20 + pages to come up with something for the girl to put on the form. Now , when I transfer, normally via the internet , the same code is automatically used.



Oh.....I've transferred quite a lot recently. What does this mean in practice when you say Solbank will notify the hacienda????


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## gus-lopez (Jan 4, 2010)

I've no idea . I think it's just too keep an eye on everything . Something to do with money laundering probably. When I transferred the mine it was because I live here now & wanted the majority here but there was nothing in their codes for tha . In the end it was put as living expenses & any I transfer now still are.
I wouldn't worry about it the amount of transactions done daily must be astronomical & probably impossible to keep track of. It's just spanish paperwork. 

What fascinates me is with their love of paperwork how they allow cheques to be written 'al portador' ( pay the bearer ) where you can cash them in a branch of the issuing bank with no questions asked .


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## mrypg9 (Apr 26, 2008)

gus-lopez said:


> I've no idea . I think it's just too keep an eye on everything . Something to do with money laundering probably. When I transferred the mine it was because I live here now & wanted the majority here but there was nothing in their codes for tha . In the end it was put as living expenses & any I transfer now still are.
> I wouldn't worry about it the amount of transactions done daily must be astronomical & probably impossible to keep track of. It's just spanish paperwork.
> 
> What fascinates me is with their love of paperwork how they allow cheques to be written 'al portador' ( pay the bearer ) where you can cash them in a branch of the issuing bank with no questions asked .


For love of paperwork you can't beat the Czech Republic. Same goes for bank inefficiency. Many people still don't have bank accounts or cards and use cash for everything, even large transactions. 
In mid-2008 the crown was strong against the euro so we bought a large quantity for our new life here and transferred them into my offshore euro account.. The transaction took over three hours!!!! The clerk had never done anything like that before - my bank was in a village 5km from Prague. He got the mountain of paperwork wrong and had to do it again. After I finally left the bank, emotionally and spiritually exhausted he phoned me to ask where the Channel Islands were, were they part of the EU ...was the Queen Queen of Jersey and so on.
Cheques are unknown to Czechs (!) and I read somewhere they're being phased out in the UK. Don't know if this is true..


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## baldilocks (Mar 7, 2010)

mrypg9 said:


> For love of paperwork you can't beat the Czech Republic. Same goes for bank inefficiency. Many people still don't have bank accounts or cards and use cash for everything, even large transactions.
> In mid-2008 the crown was strong against the euro so we bought a large quantity for our new life here and transferred them into my offshore euro account.. The transaction took over three hours!!!! The clerk had never done anything like that before - my bank was in a village 5km from Prague. He got the mountain of paperwork wrong and had to do it again. After I finally left the bank, emotionally and spiritually exhausted he phoned me to ask where the Channel Islands were, were they part of the EU ...was the Queen Queen of Jersey and so on.
> Cheques are unknown to Czechs (!) and I read somewhere they're being phased out in the UK. Don't know if this is true..


On the subject of cheques - when we first opened our account in Spain, it was a non-resident/non-interest-bearing account, we had a cheque book as well as a bank card. Now we have a resident account we get no cheque book but have a pass book (like a building society in UK) and still have a card. This makes it a nuisance if we need to pay somebody a large amount because we then have to go to the bank and draw cash.


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## lynn (Sep 25, 2008)

baldilocks said:


> On the subject of cheques - when we first opened our account in Spain, it was a non-resident/non-interest-bearing account, we had a cheque book as well as a bank card. Now we have a resident account we get no cheque book but have a pass book (like a building society in UK) and still have a card. This makes it a nuisance if we need to pay somebody a large amount because we then have to go to the bank and draw cash.


Surely if you want to make a large payment, you make a bank transfer??!! And don't you have online banking faciilties??


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## baldilocks (Mar 7, 2010)

lynn said:


> Surely if you want to make a large payment, you make a bank transfer??!! And don't you have online banking faciilties??


The only people, I am likely to want make large payments to are local builders etc. who may not want too much to be traceable - don't forget that away from (and I suspect to a certain extent also, on) the costas it is still a brown envelope society - i.e. what Hacienda doesn't know about they can't tax you on! True they can note cheques but if you have to write more than one cheque to different accounts or 'pay bearer'...


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## Guest (Aug 10, 2010)

I´ve never heard of anyone happy to accept a cheque when they´re filling the black money drawer.. cash, cash, cash is all anyone like that will accept. I can´t even remember the last time I wrote a cheque, must be five years or so ago at least!


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## mrypg9 (Apr 26, 2008)

baldilocks said:


> On the subject of cheques - when we first opened our account in Spain, it was a non-resident/non-interest-bearing account, we had a cheque book as well as a bank card. Now we have a resident account we get no cheque book but have a pass book (like a building society in UK) and still have a card. This makes it a nuisance if we need to pay somebody a large amount because we then have to go to the bank and draw cash.


That is indeed a nuisance and we experienced these situations regularly in the CR where small businesses -the shop in our village where we bought our washing machine, foe example -had no credit/debit card facility or facility to be paid via online banking.
That wouldn't be a problem in our village here as apart from the garage where Jesus will maintain your vehicle there are only the usual small village shops - a butchers, bakers, fishmongers and a few cafes.


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## expatinBCN (Dec 8, 2009)

*Almost free banking with free international transfers*

If you have a bank account in the UK with the Halifax / Bank of Scotland group, and you open a bank account in Spain with Banco Halifax Hispania you can make transfers between the two account free of charge.

All banking is free of charge with Banco Halifax Hispania although there is a small annual fee of 25 euros. You get a lot of extra services free of charge and the bank has 24 hour telephone banking in English, and an English speaking person in every branch.




captaindog said:


> Morning all!! I guess you have been asked this lots but can anyone recommend a decent Spanish current/savings account with a bank that won't cripple me with fees when I try to send sterling from a UK account?


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## mrypg9 (Apr 26, 2008)

baldilocks said:


> The only people, I am likely to want make large payments to are local builders etc. who may not want too much to be traceable - don't forget that away from (and I suspect to a certain extent also, on) the costas it is still a brown envelope society - i.e. what Hacienda doesn't know about they can't tax you on! True they can note cheques but if you have to write more than one cheque to different accounts or 'pay bearer'...


And how do you square that kind of anti-social maybe even criminal tax evasion with your sermons on how we Brits should behave in Spain?
Tax evasion on the part of businesses in Spain and the UK amounts to much more than a few Brits driving UK cars without Road Tax.


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## baldilocks (Mar 7, 2010)

mrypg9 said:


> And how do you square that kind of anti-social maybe even criminal tax evasion with your sermons on how we Brits should behave in Spain?
> Tax evasion on the part of businesses in Spain and the UK amounts to much more than a few Brits driving UK cars without Road Tax.


I don't, but it is _their_ country and if _they_ want to run the risk it is up to them. I don't support it and don't take part in it myself. We fully declared how much we paid for our house (no brown envelopes - they aren't that common around here).

We have always paid cash on the nose, where the recipients want to put it and how much they choose to declare, is up to them but they give me the receipt for the *full* amount!


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## mrypg9 (Apr 26, 2008)

baldilocks said:


> I don't, but it is _their_ country and if _they_ want to run the risk it is up to them. I don't support it and don't take part in it myself. We fully declared how much we paid for our house (no brown envelopes - they aren't that common around here).
> 
> We have always paid cash on the nose, where the recipients want to put it and how much they choose to declare, is up to them but they give me the receipt for the *full* amount!



Yes, it's up to them...that's my point. It's up to all of us to decide how we behave, whatever country we are in. And of course the old proverb about glasshouses and stones applies here so when criticising the aberrant habits of some Brits we should consider the fact that many Spaniards don't behave well all the time. No tax-dodging Spaniard should cast aspersions on tax-dodging Brits. No double standards. Whose country it is is irrelevant. We are here as EU citizens and have equal rights as such. We're on an equal footing here.
Personally....I view tax dodgers and welfare cheats as equally evil and I would take whatever steps I could to avoid dealings with individuals or businesses I knew to be involved in such practices.
But I do realise that is not always easy or possible.








In practice though, in Spain as in other countries I have lived in....that's not always possible.


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## mrypg9 (Apr 26, 2008)

baldilocks said:


> (no brown envelopes - they aren't that common around here).
> 
> 
> QUOTE] = baldilocks - don't forget that away from (and I suspect to a certain extent also, on) the costas it is still a brown envelope society - ...
> ...


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## gabriele (May 17, 2010)

*Spain banks*



captaindog said:


> Morning all!! I guess you have been asked this lots but can anyone recommend a decent Spanish current/savings account with a bank that won't cripple me with fees when I try to send sterling from a UK account?


Go to one of major Banco Santander Banks and get a proper consultation with an English speaking person. .. There are all sorts of schemes, such as accounts without administration fees and more. You also get it when you take part in certain bank pension schemes. If you are very wealthy, your assets should never show in a bank's balance sheets, in case a bank goes bust. Unlikely with Banco de Santander, though.

Bringing a certain monthly amount into your accout of about Euros 600 will also buy you a fee free account with Santander. Find out...

On Tenerife Island and in the rest of the Canaries, non- residents didn't have to pay tax on savings accounts up to now. Otherwise, this tax also depends on your general income when you are a resident in Spain. Resident means living there more than 6 months. This is only a rule of thumb, though. 

Be careful with cajas off lately. They say that they were too much mixed up with construction companies. I would stay away therefore. Credit debts go into trillions. 

Never put all your eggs into one basket...


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## donz (May 5, 2010)

Just starting to look at all this now in anticipation of our move - my brain hurts already!

Can you have accounts with a Spanish bank where one account if in € and another is in £? Probably not I am guessing.

Also, transferring savings - I have quite a large savings account here in the UK which I will want to transfer much of to €, is there a best way without raising eyebrows or losing money?


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## Jaxx (Apr 21, 2010)

Hi there was looking at Santander and also Caja Murcia which is the best are the staff English speaking also (until we learn the language) and also can i do on line banking with either?


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## edmund (Sep 16, 2009)

baldilocks said:


> A lot of the cajas (=UK building society type) are merging to improve their resistance to financial problems. CajaSur is in Administration and has been taken in hand by Banco de España, prior to that there was talk of CajaSur merging with UniCaja. We are with Caja Granada but, of course, it depends where you live as to whether which Cajas serve your area. We don't pay any charges for transfers from UK. Bear in mind, you probably won't get any interest on your account if you are non-resident.


This was sent to me in response to the Citibox website blog Citibox Spain and could be of interest:

_Question or Comment: With regard to your comments about saving money, and the exorbitant bank charges, maybe this little story will help many people.

In 1998 I opened an account with what was then BBV and is now BBVA. I was regularly charged about the equivalent to € 8 - 20 each half year. Suddenly, in the middle of 2008 I received a half yearly bank charge of over € 60. When I queried it, I was told that everything that happened with my account was charged for. Taking money out,depositing money in (Even my pensions which were sent in as Euros from UK had charges against the movement.)

I was also told that if these charges did not suit me I could close my account!! Imagine saying that to a customer!!

I immediately started making enquiries and discocvered that - amongst others - Barclays of Spain had an Internet account that was FREE! AND they sent regular statements and depositing money by hand was free.

I therefore made arrangements for my pensions to be sent to the newly opened account that I had with Barclays, and after the first payment went into Barclays, I arranged for all my standing orders - Water, Electricity, Community, Car Insurance etc. to be taken from the account. Then I drew all exept € 1 from my account and closed it. Thay even gave me the € in cash!

So, my recommendation is for those that have a heavy charge from the banks, that are already making millions from your moiney that is in their/your account, - change to one that is free!

I wish you good luck (and Seasonal Greetings!)

Colin_


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## Stravinsky (Aug 12, 2007)

donz said:


> Just starting to look at all this now in anticipation of our move - my brain hurts already!
> 
> Can you have accounts with a Spanish bank where one account if in € and another is in £? Probably not I am guessing.
> 
> Also, transferring savings - I have quite a large savings account here in the UK which I will want to transfer much of to €, is there a best way without raising eyebrows or losing money?


Yes you can have a dual account. SOL Bank (Banco Sabadell) do it.
To transfer funds you can use one of the money transfer companies like currencies direct, HIFX, ITT Moneycorp or have a Spanish bank that has a UK partner as mentioned elsewhere on this forum


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## gabriele (May 17, 2010)

Foreign residents in Spain who receive their retirement or pension in the Spanish account usually don't have to pay bank fees with certain banks. 

Euros 600 salary, retirement or pension money is sufficient as monthly account deposit or transfer with Banco de Santander. On the other hand, there is a 2nd option with this Spanish bank. You open a pension account which will be refunded to you when you will be 65 years old. 
Monthly 50 Euro payments are all which are needed for it. You can cancel such an account whenever you wish.


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