# 'Free' bank in Spain



## SunnyDelight (Feb 7, 2017)

Hola. Como estais?

I've just arrived back in Sunny Southern Spain.  Felt like summer today.

Looking for advice re opening a bank account here in Spain without NIE number (as I don't currently have one).

Will use it mainly for withdrawing cash (currently paying too many charges on UK card and also ridiculously had to fly back to the UK just to activate a blocked UK debit card last year). 

Are there any 'free' accounts or at least one with 'low costs'. As always there are lots of things in the small print and rules and regulations are always changing.

If it makes any difference I'm based in Malaga City.

Thanks in advance.


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## Robors2 (Jun 12, 2015)

I am not sure if there is such a think as free banking in Spain.
I have opened account with Banco Sabadell more the year ago and then was only passport required. My annual charges are 100 euro.


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## Megsmum (Sep 9, 2012)

Don't know of any free either have two accounts. Santander 6o per year. And La Caixa 80 per year


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## SunnyDelight (Feb 7, 2017)

It's difficult to decide whether the best option is to keep paying the charges on the UK card - ATM charges, non sterling transaction fees and of course the sneaky one of the lower than market rate pound-euro exchange or try for a Spanish bank.

As I understand, from initial research, a lot (if not all) also have sneaky small print stuff - such as a maximum number of certain transactions a year before charges occur etc. 

Are the numbers quoted above flat yearly rates for accounts?


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## stevesainty (Jan 7, 2011)

You could try the Revolut card https://revolut.com/

You can use it as an app on your smartphone or get a card. You can load it up with GBP, EUR, or USD and then use it like a normal debit card. You can check the exchange rates instantly before any transaction. You only get a few ATM withdrawals free before you pay a charge but otherwise you can use it almost anywhere in the world. You also get to choose which of the 3 currencies you want to be charged in.
My Daughter uses it for holidays etc. and I checked the rates against Transferwise and they at least comparable if not better.

There is no extra charge for bank transfers so you could use it for FX transfers between UK, Spanish, and US banks.


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## Turtles (Jan 9, 2011)

I have never had to pay any charges to Openbank, which is the online service of Banco Santander.


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## Overandout (Nov 10, 2012)

I have two accounts and don't pay any fixed charges, of course there are stupidly high commissions for some transactions such as depositing cheques and for some cash withdrawals from "rival" scheme ATMs, but I pay no account or card fixed charges.

These accounts are with Bankia and Deutsche Bank.


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## DonMarco (Nov 20, 2016)

I'm pretty sure Non Residents get charged differently (more) than the rest.


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## Alcalaina (Aug 6, 2010)

DonMarco said:


> I'm pretty sure Non Residents get charged differently (more) than the rest.


I'm sure they do. I have a residents' account with La Caixa which is commission-free conditional on a minimum of €600 a month being paid in (my state pension). The only fees are for a debit card and transfers to accounts with other banks.


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## Overandout (Nov 10, 2012)

I guess it is down to the amount of services you contract.

With both of my bank accounts I have a mortgage associated and a salary being paid in. In fact, as far as I can see, most banks are commission free if you have a "cuenta nómina" meaning a "salary account".

Although they are called "salary accounts" you do not need to actually have a company paying in a salary, any fixed regular transfer as per Alcalaina's example will usually suffice.


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## trotter58 (Feb 8, 2017)

SunnyDelight said:


> It's difficult to decide whether the best option is to keep paying the charges on the UK card - ATM charges, non sterling transaction fees and of course the sneaky one of the lower than market rate pound-euro exchange or try for a Spanish bank.
> 
> As I understand, from initial research, a lot (if not all) also have sneaky small print stuff - such as a maximum number of certain transactions a year before charges occur etc.
> 
> Are the numbers quoted above flat yearly rates for accounts?


Have you looked at opening a Santander 123 account in the UK? The cash back & interest on the current account can more than offset the monthly fee and you get free ATM withdrawals at any Santander branch in mainland Spain. We used this all the time until we had bills to pay.
We now also have a Sabadel account and, as non-residents, pay €96 per year for the privilege. We use this account for direct debits for our utility bills.


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## DonMarco (Nov 20, 2016)

*Link*

Worth a read.

Bank accounts for non-residents of Spain


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## SunnyDelight (Feb 7, 2017)

Hola. Thanks for all the responses so far.


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## SunnyDelight (Feb 7, 2017)

Looking at all the potential hidden charges on that link - I must admit that I don't even know what a 'cheque deposit' even is


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## SunnyDelight (Feb 7, 2017)

trotter58 said:


> Have you looked at opening a Santander 123 account in the UK? The cash back & interest on the current account can more than offset the monthly fee and you get free ATM withdrawals at any Santander branch in mainland Spain. We used this all the time until we had bills to pay.
> We now also have a Sabadel account and, as non-residents, pay €96 per year for the privilege. We use this account for direct debits for our utility bills.


Santander was the bank that left us stranded in Spain without access to the account after they locked it and said we had to return to a UK bank to reset it.

Until it happens to you you don't realise how inflexible and inconvenient their system is and you also realise that EU unity regarding banks etc. is just a myth. We were told that Santander Banco is a completely different company to Santander Bank and they 'do things differently' etc.

Hence the need to have a local account too.

Don't ever put all you eggs in one basket as they say.


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## Rabbitcat (Aug 31, 2014)

If you pay €700 a month into Sabadel Expansion account it's " free" banking plus small refund on utilities bills


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## Alcalaina (Aug 6, 2010)

SunnyDelight said:


> Looking at all the potential hidden charges on that link - I must admit that I don't even know what a 'cheque deposit' even is


When you pay in a cheque from someone else's account.

Though I can't remember when I last saw a cheque. In Spain they tend to use online transfers instead.


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## Pesky Wesky (May 10, 2009)

SunnyDelight said:


> We were told that Santander Banco is a completely different company to Santander Bank and they 'do things differently' etc.


Yes, it is
Save​


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## eric_e (Jul 26, 2016)

Rabbitcat said:


> If you pay €700 a month into Sabadel Expansion account it's " free" banking plus small refund on utilities bills



I have this account and am very happy with it. It is for English speakers so has an English website and apps for phone and tablet. ATM instructions come up in English too.


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## Motril Ben (Feb 10, 2017)

Rabbitcat said:


> If you pay €700 a month into Sabadel Expansion account it's " free" banking plus small refund on utilities bills


That's good to know, thanks for that! I'm a freelance translator myself, and might have problems keeping regular though. Something I do, that might be of interest to whoever opened the thread, is a combination of English bank account, Paypal, and Goldmoney...  Buy gold (good in case of currency disasters that MAY be looming), they keep it in their vault, and you get a debit card connected to this gold. Considering how banks give next to nothing in interest these days, I thought why not cut them out of most of my savings altogether? In Spain, they rob you blind in the banks. Fees, fees, fees, and the locals don't even realise things are done different elsewhere, half the time. The wife is from here, and actually paid money to close her account. I was furious when I heard about it, and told her off for not just leaving the mininum in there to avoid it, a few quid in the bank indefinitely, topped up yearly when they do their little annual plundering.


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## dleafy (Jan 4, 2016)

Daft question...but...these banks that offer free banking as long as you deposit €600 for example.
Can you effectively withdraw that money and re-deposit it every month...if you know what I mean.

Cheers
Davy !!!


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