# Non Resident Bank Account



## KAKADU2001 (Jan 15, 2018)

Hi All

My wife and I are looking at relocating to Spain in aug/sep of this year. My wife has two sisters that have lived in land of Torreveija for over 10 years.

In preparation we would like to set up a Spanish non resident bank account prior to our move and our ultimate application for permanent residency.

Any info on the process would be much appreciated.

Regards

John Williamson


----------



## Williams2 (Sep 15, 2013)

KAKADU2001 said:


> Hi All
> 
> My wife and I are looking at relocating to Spain in aug/sep of this year. My wife has two sisters that have lived in land of Torreveija for over 10 years.
> 
> ...


Well if your looking for a non resident bank account then also be prepared for the non-resident bank
account fees that comes along with it.

But as your ultimate goal is for permanent residency then why go for a non-resident bank account 
as we can name a few resident Spanish bank accounts that are free from any fees ??


----------



## KAKADU2001 (Jan 15, 2018)

*Non resident bank account*

Hi

Many thanks for the feedback. I just thought that getting a non residency account first would make things easier.

Is it better to wait until we are residents before we open a bank account?

Regards

John


----------



## xabiaxica (Jun 23, 2009)

KAKADU2001 said:


> Hi
> 
> Many thanks for the feedback. I just thought that getting a non residency account first would make things easier.
> 
> ...


Unless you're in reciept of a state pension you'll need a non-resident account before you register as resident - you will have to show funds in a Spanish bank account.

Some banks will still allow you to open a non-res account with your passport. Some insist that you also have a NIE.


As for Permanent Residency - you will be a Permanent Resident after 5 years as a registered resident.


----------



## KAKADU2001 (Jan 15, 2018)

xabiachica said:


> Unless you're in reciept of a state pension you'll need a non-resident account before you register as resident - you will have to show funds in a Spanish bank account.
> 
> Some banks will still allow you to open a non-res account with your passport. Some insist that you also have a NIE.
> 
> ...


Cheers For that info.

I will not get state pension for another 3 years and that is why I thought best to set up up non residency account first. We have our house to sell and that is the funds that would be put into the account before our move.

Regards

John


----------



## xabiaxica (Jun 23, 2009)

KAKADU2001 said:


> Cheers For that info.
> 
> I will not get state pension for another 3 years and that is why I thought best to set up up non residency account first. We have our house to sell and that is the funds that would be put into the account before our move.
> 
> ...


Yes that makes sense. Then as soon as you are registered as resident, change it to a resident account. 

Many will suggest that you keep at least some of your funds in a UK bank account.


----------



## snikpoh (Nov 19, 2007)

Many banks offer a purely online account (like FirstDirect in UK) which are open to non-residents. These accounts have ZERO charges other than the non-resident certificate every two years.


----------



## KAKADU2001 (Jan 15, 2018)

Many thanks for your reply.


----------



## DonMarco (Nov 20, 2016)

Have a look at Santander 123. Pays up to 3% Interest for balances up to 15k plus cash-back on your water/electricity bills. Charges are 6 Euro a month which includes the Credit card charge. Requirements are 3 monthly direct debits, one monthly credit (wages, pensions etc.) 6 payments by card every three months. I realise you won't be able to fulfil the conditions just now but you can still open it now. You'll pay higher charges until you fulfil the conditions.

Works for me, I earn about 26 Euros net. a month in Interest.


----------



## KAKADU2001 (Jan 15, 2018)

Many thanks for your information.


----------



## Hkdave (Mar 25, 2018)

Hi, 
if you buy a house you will need an NIE first. We got one at the local Spanish consulate in HK. Then came to Spain to buy a house. After making our choice we were taken by the agent to open a bank account at a local bank. Then about 3 months later transferred money into it after sale went through. We are not resident. The bank manager wipes the monthly fees if balance is a certain limit.


----------

