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Do I need a bank account in Spain?

If you personal a house in Spain, a Spanish bank account is vital to make mortgage payments and spend bills by direct debit. You will also be given a debit card which you can use when shopping accompanied by a kind of photographic notion, 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 topic to exchange rates.

But I cant speak Spanish?

This isnt generally a difficulty specifically along the Coasts exactly where all banks employ English speaking staff.

What do I want to open an account?

To open a basic account (cuenta corriente) as a non-resident you should present your existing passport. The paperwork is done quickly

What varieties of banks are there?

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

What will I be charged for?

Regrettably, it seems like there are charges for almost everything from cashing cheques to getting income from a UK account and there is also an annual upkeep charge.

How does the direct debit technique function in Spain?

Bills such as electricity, water, telephone, insurance coverage etc can all be paid by direct debit. If you want to cancel a direct debit, you need to check out your branch in person and inform them to eliminate the business from your list of direct debits. The principal distinction is to set up a direct debit in the UK you need to fill in a type which is authorised by your signature. In Spain, you merely hand somebody your account details and they can request the money from your account. As the account holder there is a time limit in which you can reclaim this cash, should you need to have to. For this explanation, it is imperative that you acquire and verify all your statements frequently.

Debit Card

Your card will take about ten days to arrive at your branch. When you choose it up you will be given your PIN number which you can alter at the money machine.

Cash Points

Make certain that you use your banks money point to avoid the high prices of commission which are often as a lot as 10%.

Web Banking is accessible for most banks in Spain, ask in your branch.

Main Spanish Banks

Cajamar

www.cajamar.es

Unicaja

www.unicaja.es

La Caixa

www.lacaixa.es

Grupo Banco Common

www.bancopopular.es

BBVA

www.grupobbva.com

Solbank

www.solbank.com

Santander Central Hispano

www.gruposantander.com coupon