# Opening a bank account in Spain...



## xiaohouzi (Sep 9, 2008)

I'm wondering how easy it will be to open a bank account in Spain...
I had one in Austria but i didn't bother while i was in Spain, possibly because CAM wanted to charge some kind of stupid fee even though i'm friends with some of the guys that worked at my branch. Basically, i have way too much money to be carrying around in my back-pack with me and need a safe place to keep it. What is some good advice? I'm guessing that they will at least need a valid address which i could provide but what else might they ask for besides 2 forms of ID? I found out that Santander is the only bank in Spain that cashes travelers cheques without a fee. Any suggestions? Either way, i don't feel safe leaving it in a u.s. bank while i'm living in Europe or Asia. Does anyone know if there is a real advantage to having a Swiss bank account? Thanks for any advice!


----------



## chris(madrid) (Mar 23, 2008)

Search the forum - this has been covered before. Some WILL NOT open accounts for non-residents or folk without NIE etc.


----------



## Stravinsky (Aug 12, 2007)

xiaohouzi said:


> I'm wondering how easy it will be to open a bank account in Spain...
> I had one in Austria but i didn't bother while i was in Spain, possibly because CAM wanted to charge some kind of stupid fee even though i'm friends with some of the guys that worked at my branch. Basically, i have way too much money to be carrying around in my back-pack with me and need a safe place to keep it. What is some good advice? I'm guessing that they will at least need a valid address which i could provide but what else might they ask for besides 2 forms of ID? I found out that Santander is the only bank in Spain that cashes travelers cheques without a fee. Any suggestions? Either way, i don't feel safe leaving it in a u.s. bank while i'm living in Europe or Asia. Does anyone know if there is a real advantage to having a Swiss bank account? Thanks for any advice!


Why would you want a swiss bank account? Are you rich 
Is there a problem with US banks then? 

You should be able to open a bank account in Spain without residency ....... we did. We had an NIE number though.


----------



## chris(madrid) (Mar 23, 2008)

Stravinsky said:


> Is there a problem with US banks then?


Seen the US news today?


----------



## Stravinsky (Aug 12, 2007)

chris(madrid) said:


> Seen the US news today?


Yes Chris, thats why I said it


----------



## xiaohouzi (Sep 9, 2008)

I only know that i have enough to open a Swiss account... just wondering what i will need other than ID. I don't really trust u.s. banks and i heard that Swiss banks are supposed to be more secure. Thanks again for your help.


----------



## chris(madrid) (Mar 23, 2008)

There are SWISS BANKS and Swiss Banks. Many of the "no questions asked" sort are as safe as say Lehmans (deliberately ironic) or you pay MASSIVE FEES. There's no point imo in a normal Swiss Bank as you'd be paying exchange & other fees all the time. I've Swiss friends and they were always on about fees.

Any normal European bank is in some way or form regulated (as far as I know).


----------



## Guest (Sep 17, 2008)

chris(madrid) said:


> There are SWISS BANKS and Swiss Banks. Many of the "no questions asked" sort are as safe as say Lehmans (deliberately ironic) or you pay MASSIVE FEES. There's no point imo in a normal Swiss Bank as you'd be paying exchange & other fees all the time. I've Swiss friends and they were always on about fees.
> 
> Any normal European bank is in some way or form regulated (as far as I know).



I am Swiss, I have a Swiss bank account. I do not know these things about MASSIVE fees, I do not pay any. Swiss banks are very sure reliable and I would never put big amounts of money in any other countries bank. The legend of some MAFIA Swiss banks is long time over. If you deposit over a certain amount you will have to proof that the money does not come from illegal activities. Are you sure about your writings?


----------



## chris(madrid) (Mar 23, 2008)

Eva33 said:


> I am Swiss, I have a Swiss bank account. I do not know these things about MASSIVE fees, I do not pay any. Swiss banks are very sure reliable and I would never put big amounts of money in any other countries bank. The legend of some MAFIA Swiss banks is long time over. If you deposit over a certain amount you will have to proof that the money does not come from illegal activities. Are you sure about your writings?


Eva - All I know is that my friends (in Herisau) complained all the time about small fees for all sorts of things - they did travel a lot and some of this may have been currency exchange. It is over ten years ago - I have to admit.

And they told me about the other account types - they're mostly DataProcessing folk who worked in Swiss banks as consultants. Basically you could avoid the bank using your money for BANK investments - by paying fees. Much like safety deposit boxes. These are NOT normal accounts - not necessarily from illegal origin - but very LARGE.


----------



## Guest (Sep 17, 2008)

chris(madrid) said:


> Eva - All I know is that my friends (in Herisau) complained all the time about small fees for all sorts of things - they did travel a lot and some of this may have been currency exchange. It is over ten years ago - I have to admit.
> 
> And they told me about the other account types - they're mostly DataProcessing folk who worked in Swiss banks as consultants. Basically you could avoid the bank using your money for BANK investments - by paying fees. Much like safety deposit boxes. These are NOT normal accounts - not necessarily from illegal origin - but very LARGE.


I was only talking about bank accounts, not investment banking. Banks will charge you fees all over the world. I have bank accounts in three different countries. There is only a small difference in fees and did even did notice it.


----------



## chris(madrid) (Mar 23, 2008)

Eva33 said:


> I have bank accounts in three different countries. There is only a small difference in fees and did even did notice it.


Me too for ages - Now only 2. In the UK I've never paid ANY fees. And don't here now either. I most certainly notice charges. Germany was a real pita in this respect when I still lived there. 

Banks use your money for investments even if they're NOT true investment banks.


----------



## xiaohouzi (Sep 9, 2008)

Thanks for your input! I realize that there are private Swiss banks that require a minimum amount of a million or so but i'm not looking for a bank where i must pay all kinds of fees. Just a secure bank where i can leave my money. I tried to deposit money into my old Chinese bank which has a branch in nyc but they told me that even though they are the same bank, they have no connection to the branches in China. I called up the branch for Santander here in nyc and they say that i can only open a private account at their branch here. I was just hoping to find an international bank here that doesn't have a connection to the u.s. government but that might be asking too much. I'll just have to wait until i arrive.
Thanks anyway! 

Please let me know if you hear about any work for u.s. citizens or a work/study opportunity. I would love to study Spanish but I don't want to go through my savings on living expenses while studying. 

Cheers!







chris(madrid) said:


> There are SWISS BANKS and Swiss Banks. Many of the "no questions asked" sort are as safe as say Lehmans (deliberately ironic) or you pay MASSIVE FEES. There's no point imo in a normal Swiss Bank as you'd be paying exchange & other fees all the time. I've Swiss friends and they were always on about fees.
> 
> Any normal European bank is in some way or form regulated (as far as I know).


----------

