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Non resident banking

PostPosted:Tue Jun 25, 2019 7:45 pm
by keith t
Hi,
I am a non resident and have a bank account with sabadell.
I use the account just to pay bills, with the occasional purchase with a debit card.
I have interest and commission charges around 35 euros every 3 months, is this the norm please?

Re: Non resident banking

PostPosted:Wed Jun 26, 2019 7:34 am
by kenbowns
Hi Keith
I am with Bankia and pay just over €100 annually although they do have an account with no charges which I am going to explore.
I am also non res.

Re: Non resident banking

PostPosted:Wed Jun 26, 2019 7:44 am
by wingman
Hi KT,
Your quarterly charges sound about normal for your BS account. Some of that is also your card fee. As a non "resident" remember that every 2 years you will pay an additional fee of about E35-40 for the bank to get an official poder (power / auth) from the CNP that you (in fact your NIE / NIF - same thing) remain non resident. (i.e. that your NIE has not been officially linked to an EU Cert of Reg - Residente). This allows them not to withhold fiscal resident taxes for the AEAT against your accounts.
For KB...No such thing as free banking. For "no charges" you will have to deposit a monthly amount into the account...e.g. pension or lump sum ( normally circa E700+)….the bank "uses" your guaranteed monthly income stream to offset costs to run the account. I have such account with DB. Hope this helps.

Re: Non resident banking

PostPosted:Wed Jun 26, 2019 11:01 am
by dave c
I am non res and had a current account with Bankia which had fees of around 100 a year.
I changed it to their online account ( Cuenta on ) and now pay no fees at all.
Best thing about it is - no waiting in queue in the branch!

Re: Non resident banking

PostPosted:Wed Jun 26, 2019 2:33 pm
by kenbowns
Yes Dave, that is the one I was speaking of and I believe there are no monthly deposits required as wingman thinks.
Dave, are there any differences between the account that you now have against Bankia's previous current acc ?

Re: Non resident banking

PostPosted:Thu Jun 27, 2019 9:49 am
by dave c
Only difference, Ken, is that it's all done online.
we transfer cash - through currencies direct - every couple of months to pay bills etc.
we withdraw cash with cash card when we go out as well. No charges at all.

Re: Non resident banking

PostPosted:Thu Jun 27, 2019 2:22 pm
by kenbowns
Thanks Dave
We operate in exactly the same way as yourselves so I thing I will change.
Did you do this in branch though ? Do they change all the DD's for you ?

Re: Non resident banking

PostPosted:Thu Jun 27, 2019 5:06 pm
by dave c
Hi Ken,
Yes, we did it in branch when we were out, took about 20 mins. They changed all payments etc.
Take passports and anything else you can think of - as there's usually something they ask for that you haven't brought with you!

Re: Non resident banking

PostPosted:Thu Jun 27, 2019 5:10 pm
by kenbowns
Cheers Dave
Go back to uk on Monday so a job for September.

Re: Non resident banking

PostPosted:Sat Jun 29, 2019 2:28 am
by zurgno
I’m in Ireland I just need the bank for paying bills and lodging money into,

so would this work for me ? I’m not great with technology :roll:

Re: Non resident banking

PostPosted:Sat Jun 29, 2019 8:29 am
by kenbowns
Zurgno

I am with Bankia at the moment and in my opinion their banking app is the best I have had so far with my Spanish accounts, I live in the uk and it works perfectly, if you do internet banking at home you will find the app a doddle.

Re: Non resident banking

PostPosted:Thu Jul 04, 2019 9:22 am
by bolton wanderer
keith t wrote:Hi,
I am a non resident and have a bank account with sabadell.
I use the account just to pay bills, with the occasional purchase with a debit card.
I have interest and commission charges around 35 euros every 3 months, is this the norm please?

Hi, we're in the process of cancelling our Sabadell key account (non res) because of their obscene charges, we're currently paying €140 per year. :evil:

We've opened a N26 fee free online account which provides a Spanish IBAN so that we can pay our Spanish bills by direct debits. We can fund the N26 account using Transferwise which gives a very good exchange rate/commission in comparison to other services. We already have a UK Santander 123 account which allows fee free use of any Santander ATM in mainland Spain and gives a commission free Visa rate for conversion. We'll cancel the Sabadell account once all our direct debits are in place. 8)

https://n26.com/en-es/?utm_source=googl ... gJ9lfD_BwE