# Which Spanish Bank to use?



## livingonbeans (May 12, 2015)

Hi,

Just a quick one....I'm currently relocating to Spain and am required to open a Spanish bank account in order to purchase my property.

I've lived in Spain before and used BBVA and to be honest wasn't too keen on them. What I'm after is the following:


Good Online Banking
Cheap or free transfers from UK (as need to send house money)
Cheap monthly usage
Easy to open/manage

Thanks in advance for all your help,
Danny


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## 90199 (Mar 21, 2010)

Use a currency dealer to transfer your money, better rate of exchange, no commission for large amounts, banks for transfers are a rip off.

Re Spanish banks, all about the same, pick the one nearest to home.


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## snikpoh (Nov 19, 2007)

livingonbeans said:


> Hi,
> 
> Just a quick one....I'm currently relocating to Spain and am required to open a Spanish bank account in order to purchase my property.
> 
> ...




... as a resident, IMHO you can't beat Sabadell and their expansion account. It's worth Googling.

Your other post suggests that you won't be resident though - If you are, then you can't run a UK plated car here. If you aren't, then you need a non-resident account which will cost you (as in it's not free).


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## livingonbeans (May 12, 2015)

Yep, I won't be a resident. It is simply a holiday home which I will be frequenting for maybe 3/4 months a year.

I will defo use a currency broker, I was just talking more to do with the bank charging for receiving from GBP.

Thanks,
Danny


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## 90199 (Mar 21, 2010)

livingonbeans said:


> Yep, I won't be a resident. It is simply a holiday home which I will be frequenting for maybe 3/4 months a year.
> 
> I will defo use a currency broker, I was just talking more to do with the bank charging for receiving from GBP.
> 
> ...


I don't think in general they charge, Caixa doesn't charge me, neither did BBVA. I wait until the rate is in my favour, like now, then transfer a lump sum. Re GPB the broker changes that into Euros, then sends it to my bank out here.


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## Lynn R (Feb 21, 2014)

Banco Popular doesn't charge me for receiving payments into the account either (it didn't when I had a non-resident account, either).

I think they do charge for an amount of €50,000 or over, though, eg for a house purchase. Might be best to split it into a number of smaller transactions to avoid these charges.

To exchange from sterling to euros and transfer the funds I use Currency Fair, who charge a flat fee of €3 per standard transfer irrespective of the amount. They give a much better rate than a high street bank would - if the exchange rate was €1.4050 you would get €1.40 from them, maybe slightly more for a big amount.


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## livingonbeans (May 12, 2015)

Sounds good thanks a lot.

Do Banco Popular have online banking?

Just to confirm, it would be a non residents account


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## Lynn R (Feb 21, 2014)

livingonbeans said:


> Sounds good thanks a lot.
> 
> Do Banco Popular have online banking?
> 
> Just to confirm, it would be a non residents account


Yes, they have online banking, I think all the major Spanish banks do although you may have to specify that you want it when opening the account. I certainly used online banking with a non-resident account from Banco Popular for a number of years before we moved here permanently, and you can set the language to English (although learning the Spanish terms can help towards your Spanish language skills).


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## The Skipper (Nov 26, 2014)

livingonbeans said:


> Hi,
> 
> Just a quick one....I'm currently relocating to Spain and am required to open a Spanish bank account in order to purchase my property.
> 
> ...


For money transfers from the UK, take a look at this link: https://transferwise.com/u/95496a
This link gives a promotional offer that can save you a fortune. The company is backed by Sir Richard Branson and gives the best exchange rates I have ever found. I use them regularly and the service is superb. As for Spanish banks, they are all thieves! We opened our first Spanish account with Bancaja, which became Bankia after the crash in 2008. Good online but, like all Spanish banks these days, they charge you for everything.


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## Colesfamilywalesespana (Mar 15, 2015)

We recently opened an account with Banco Sabadell, very good communication before we arranged to visit the Branch, account opened with 15o euros and proof of identity of course.

We are now transferring regular amounts via Transferwise, there is a small handling charge per transaction but the rates are mega competitive, completing the transfers within a day or so.


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## livingonbeans (May 12, 2015)

Colesfamilywalesespana said:


> We are now transferring regular amounts via Transferwise, there is a small handling charge per transaction but the rates are mega competitive, completing the transfers within a day or so.


How much are they charging, do you know?


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## smitty5668 (Feb 25, 2015)

like others on here i would use sabadell. easy to use online banking, english speaking staff and less of a rip off than some of the others.


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## Simon22 (May 22, 2015)

smitty5668 said:


> like others on here i would use sabadell. easy to use online banking, english speaking staff and less of a rip off than some of the others.


I found them yesterday and have to say they look good online, which suits me


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## Colesfamilywalesespana (Mar 15, 2015)

*Use of Transfer Wise*

Transfer Wise charge half a per cent on any transfer value....
today we transferred £4,999.00 the fee was £24.87 and received 6,480.47 euros...an exchange rate of 1.40335

This was the 7th transfer we have arranged and all done online so we can track rates pretty much 24 hours per day....you can cancel before the transaction has been released so all in all a very good service.


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## Lynn R (Feb 21, 2014)

Colesfamilywalesespana said:


> Transfer Wise charge half a per cent on any transfer value....
> today we transferred £4,999.00 the fee was £24.87 and received 6,480.47 euros...an exchange rate of 1.40335
> 
> This was the 7th transfer we have arranged and all done online so we can track rates pretty much 24 hours per day....you can cancel before the transaction has been released so all in all a very good service.


I got €1.4050 yesterday with Currency Fair, for a transfer of under 1K. The fee was €3 - and it would have been exactly the same €3 to transfer 5k or 50K.

I made the transfer shortly before 5pm UK time and the funds were received in my Spanish bank account this afternoon.


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