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Do I need to have a bank account in Spain?

If you personal a home in Spain, a Spanish bank account is important to make mortgage payments and pay bills by direct debit. You will also be given a debit card which you can use when shopping accompanied by a kind of photographic thought, usually your passport or driving license if you are not resident. When buying, you can use your UK debit and credit cards, again with ID and you will be subject to exchange rates.

But I cant speak Spanish?

This isnt typically a problem especially along the Coasts where all banks employ English speaking employees.

What do I want to open an account?

To open a standard account (cuenta corriente) as a non-resident you have to present your current passport. The paperwork is done quickly

What types of banks are there?

There are two types of banks in Spain: saving banks (Caja de Ahorros) and typical banks.

What will I be charged for?

Regrettably, it appears like there are charges for every little thing from cashing cheques to receiving funds from a UK account and there is also an annual upkeep charge.

How does the direct debit program perform in Spain?

Bills such as electricity, water, phone, insurance coverage and so on can all be paid by direct debit. If you want to cancel a direct debit, you need to have to visit your branch in particular person and tell them to get rid of the business from your list of direct debits. The major distinction is to set up a direct debit in the UK you must fill in a form which is authorised by your signature. In Spain, you basically hand somebody your account information and they can request the income from your account. As the account holder there is a time limit in which you can reclaim this money, must you need to have to. For this purpose, it is imperative that you receive and check all your statements often.

Debit Card

Your card will take about ten days to arrive at your branch. When you choose it up you will be offered your PIN quantity which you can modify at the cash machine.

Money Points

Make sure that you use your banks cash point to keep away from the higher rates of commission which are usually as much as ten%.

World wide web Banking is available for most banks in Spain, ask in your branch.

Major Spanish Banks

Cajamar

www.cajamar.es

Unicaja

www.unicaja.es

La Caixa

www.lacaixa.es

Grupo Banco Well-known

www.bancopopular.es

BBVA

www.grupobbva.com

Solbank

www.solbank.com

Santander Central Hispano

www.gruposantander.com shopping cart theme