# Recommendations for resident bank accounts



## Andyw1 (Oct 15, 2021)

Hello all, 

Just looking for some advice/recommendations. 

I have a Sabadell Negocios account that I opened about 3 years ago, it's a residents account for self-employed etc. 

However, after initially telling me the account was free if you put in a certain amount a month they changed this a year later (almost seems like they hook you in) and seem to charge me for everything now, including a credit card I don't use which they won't cancel. I question the fees as they charge them and can't get a straight answer and sometimes it takes them a couple of weeks to just reply to me. 

Being self-employed I really don't need a business bank account anyway so am looking for a 'normal' residents account, any views or idea about ones that won't charge so much would be appreciated. 

Thanks - Andrew


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## snikpoh (Nov 19, 2007)

Andyw1 said:


> Hello all,
> 
> Just looking for some advice/recommendations.
> 
> ...


For a "normal" account, try one of the online accounts which are totally FREE.

Wefferent is for residents and non-residents alike, then there's OpenBank, Imagin, BBVA online etc. These all come from Spanish banks unlike N26, Revolut or Wise where you may have problems paying some utility bills.


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## Andyw1 (Oct 15, 2021)

Thanks for the reply. Yes, I have a Revolut account but it's a no no for taxes and social security - even though it should be OK with EU Sepa rules the Spanish seem to make their own rules up about that. 

Openbank is not an option. Too many bad reports and you can't use a local Santander (who own Openbank) if you needed to. 

At the moment I am looking for a physical bank (with online options of course)


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## kaipa (Aug 3, 2013)

Physical banks are pretty much equal. They all seem to have various charges ) despite what they intially tell you). Best to choose the nearest to you ( ie walk to). Be prepared to queue. I use Bankia ( shortly to be gobbled up by Caixa). They are okay as I can do everything online. You need a physical bank if you are going to buy or sell property.


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## Andyw1 (Oct 15, 2021)

kaipa said:


> Physical banks are pretty much equal. They all seem to have various charges ) despite what they intially tell you). Best to choose the nearest to you ( ie walk to). Be prepared to queue. I use Bankia ( shortly to be gobbled up by Caixa). They are okay as I can do everything online. You need a physical bank if you are going to buy or sell property.



Thanks for the reply. Yes, I was thinking about going back to Caixa (had an account with them a few years ago) - have left 3 messages over the last couple of weeks for them to call me back - no call yet!


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## Barriej (Jul 23, 2012)

I have a 'One' account with Santander and thats completely free...

As long as I make a €600 a month deposit and use the debit card a certain number of times or have a couple of DDR's.

In fact we were told to cross transfer the money each month to keep the account free, otherwise its €20.00 a month.
So I transferred my private pension from the Uk (via wise) the first month we opened the accounts and then 3 days later moved the same amount to the wife's account and then all we do is move the same €600 back and forth and the account has had no charges. 
I believe if you take one of their insurances (not the healthcare, because we have this) then the account is free anyway.
It also gets you discounts and a couple of months ago we got a €100 bonus paid to the account for maintaining the required usage. Go figure a bank giving money away... 

Why not visit and actually talk to them, Ive found you get better deals than from the internet.


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## Do28 (Dec 21, 2010)

I have a Deutsche Bank account. Requires 650 a month to be paid in and use of the debit card twice a month and everything is free.


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## Andyw1 (Oct 15, 2021)

Barriej said:


> I have a 'One' account with Santander and thats completely free...
> 
> As long as I make a €600 a month deposit and use the debit card a certain number of times or have a couple of DDR's.
> 
> ...


Thanks for the information. I'll take a look and see what they say.


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## Andyw1 (Oct 15, 2021)

Do28 said:


> I have a Deutsche Bank account. Requires 650 a month to be paid in and use of the debit card twice a month and everything is free.


Thanks for the information. When you say the use of card twice a month, is that just for regular stuff like shopping etc. One of the banks was trying to get me to take out insurance but again, it's something I just don't need.


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## xicoalc (Apr 20, 2010)

Also talk to sabadell 

I not saying I love them but have a lot of products with them.... 3 bank accounts, mortgage, cards, insurances etc. On one account thats joint with husband, we only use to pay mortgage and house insurance and they said they were going to start to charge for the account... A chat in branch and even though for some stupid reason they can't stop the automatic charges, they agreed at branch level to refund them the same day 

At least in general they are a proper bank and we have a branch and a gestor and manager who know us so we can pop in and always get to talk. That is all lost with online!


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## Do28 (Dec 21, 2010)

Andyw1 said:


> Thanks for the information. When you say the use of card twice a month, is that just for regular stuff like shopping etc. One of the banks was trying to get me to take out insurance but again, it's something I just don't need.


Yes, any transaction is fine.


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## Andyw1 (Oct 15, 2021)

xicoalc said:


> Also talk to sabadell
> 
> I not saying I love them but have a lot of products with them.... 3 bank accounts, mortgage, cards, insurances etc. On one account thats joint with husband, we only use to pay mortgage and house insurance and they said they were going to start to charge for the account... A chat in branch and even though for some stupid reason they can't stop the automatic charges, they agreed at branch level to refund them the same day
> 
> At least in general they are a proper bank and we have a branch and a gestor and manager who know us so we can pop in and always get to talk. That is all lost with online!


To be honest half of the problem with Sabadell is they just don't want to know. Opening the accounts was fine, easy process, business bank manager calling regularly. Nowadays if I have a problem (which is rare) they never return calls, never reply to emails unless I sent repeated follow ups etc. Even trying to call their online banking number they don't call back for at least 5 days then just tell you any issues you have have to be addressed at the branch.


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## snikpoh (Nov 19, 2007)

Andyw1 said:


> To be honest half of the problem with Sabadell is they just don't want to know. Opening the accounts was fine, easy process, business bank manager calling regularly. Nowadays if I have a problem (which is rare) they never return calls, never reply to emails unless I sent repeated follow ups etc. Even trying to call their online banking number they don't call back for at least 5 days then just tell you any issues you have have to be addressed at the branch.


This is why I see no point in having anything but an online account now. Also, why bother to get a bank account that is close by?


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## Andyw1 (Oct 15, 2021)

snikpoh said:


> This is why I see no point in having anything but an online account now. Also, why bother to get a bank account that is close by?


When you run a business or are self employed it's good to have a physical bank. Even if I didn't visit it I like the peace of mind that it's there. I have a revolut account too but wouldn't feel comfortable having that as my main account because the support just doesn't cover what you might need locally.


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## Barriej (Jul 23, 2012)

snikpoh said:


> This is why I see no point in having anything but an online account now. Also, why bother to get a bank account that is close by?


Not sure about now, but last year when we went through the residency process online bank accounts were not recognised for the financial proof.

In fact a friend of ours had to rush to open a 'physical' account as his online bank could not produce the stamped and signed statements and the 'proof of account' letter needed for the resident application process in Alicante.


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