Bank Account

[Mariquita]

Does anyone have any up-to-date information on bank charges for opening and maintaining an account in the Port?

I am thinking of Sabadell or Santander and I would like the the bank to have online banking facilities in able to monitor the account from the UK.

Any experiences, good or bad for any banks in the Port would be useful.

Thank you for any advice you can offer.

 

[alcanadakid]

We have an account with La Caixa in the Port and use their online banking every day and never have a problem. We transfer money from our UK HSBC account and it costs £4 for £2000 and arrives the next working day. This is an HSBC charge, there are no La Caixa charges. For other charges we pay about €60 a year to La Caixa. All our standing orders go out of this account.

We did have a problem when we bought our house and ended up paying thousands of euros to La Caixa because it was a very large sum. If you are doing this then you must do your research otherwise you could end up the same.

For day to day banking La Caixa are fine.

 

[lollipop]

We bank with Sabadell but not sure of costs with non resident accounts as we are resident and have pensions paid in. They have online banking which is very user friendly .

 

[Sparky]

We are with Santander but as Lollipop says it's different for residents, they also have online banking.

 

[Mariquita]

Thank you for the replies Alkanadakid, Lollipop and Sparky.

I will give La Caixa a miss as I would be using the account for a property purchase.

Do you have an email address for the local Santander branch, Sparky and the local Sabadell branch, Lollipop?

Any non-residents willing to share their annual bank charges?

 

[bluejr77]

Hi. We are non residents and we bank with Bankia. For every day running costs, as long as we have €2000 in our current account we do not pay for any direct debits. However if we make a payment via a bank transfer, or a cheque we are charged €1.50 each transaction.

We have one debit card with this account and this costs €19 per year.

Also, we need to sign a form at the bank every couple of years for non resident tax purposes - otherwise our account gets taxed. We completed the form one year but were still taxed - upon contacting the bank they could find no trace of our completed and signed form so we had to complete another one and unfortunately we couldn't claim the tax back. Always now a date in the dairy to remember!!!

I would say their online system is average - a little on the slow side. There is an English option, but if you speak Spanish I am sure the web site is easier to navigate.

We haven't transferred any large sums of money since we purchased our property 11 years ago but we will need to transfer a substantial amount soon and I will need to contact the bank to see what, if any charges they will make. So sorry, can't help you with what fees they charge for a large transfer.

Bluejr77

 

[pansy potter]

We bank with sabadell , no problems at all , great staff very helpful , like most banks in Spain you get charged for everything , we re non residents so not sure how it differs for residents .

 

[alcanadakid]

Thank you for the replies Alkanadakid, Lollipop and Sparky.

I will give La Caixa a miss as I would be using the account for a property purchase.

Do you have an email address for the local Santander branch, Sparky and the local Sabadell branch, Lollipop?

Any non-residents willing to share their annual bank charges?

The mistake we made was not researching the incoming bank charges which are negotiable. I think this applies to all banks. We were charged 0.5%, but I am sure we could have negotiated it to almost zero. We only discovered it after the event when it was too late. Obviously exchange rate is very important but be careful of money transfer companies as they are not regulated by the FSA, and you risk losing the whole lot.

We are non resident too.

 

[lollipop]

Mariquita, if you search sabadell.es or sabadell bank, you will get the option to choose English and you will find information on their various accounts.

 

[illeslex]

Good morning,

Our Law Firm is very used to help Non Residents with the bank account opening and in order to provide all the information and expenses.

We have some contacts in several Banks and we would be delighted to assist you regarding this issue.

Just contact us: info@illeslex.com

Best regards,

 

[Submariner]

We bank with Sabadell, and we're pleased we do. We are non-resident, and have their Key Account costing €24 a quarter, which means (almost?) all of our banking is free - no charges for incoming transfers from the UK, outgoing transfers within Spain (& EU?), cheques, card payments, standing orders etc. We've been using the account a lot so this fee structure suits us very well.

The only additional charge we have incurred has been for a bank draft for our house purchase. This charge came as no surprise - everything has been transparent, the people in the bank in PP are charming and speak excellent English, and the online banking is in English and is very easy to use. Recommended.

 

[Millipet]

Banks in PP

Can anyone tell me where Sabadell Bank is in PP?

 

[mike_dublin]

Can anyone tell me where Sabadell Bank is in PP?

Google Maps shows the office on C Joan XXIII

Banco Sabadell - Oficina de Port De Pollença

http://goo.gl/maps/7ERZM

 

[pollensa]

I think that Banco Sabadell used to be called Solbank. We used to have a Solbank account but it was actually part of Banco Sabadell. They were always very helpful there although I think that the original manager Stefan may no longer be there. It's more or less opposite Celler La Parra restaurant.

 

[Mariquita]

Thanks to all who shared their banking experiences. We did open an account with Sabadell and so far we have been happy.
Our apartment purchase is due to complete today and Sabadell were very helpful with all my email queries to them.

 

[Shaun&Caro]

Hi. We are non residents and we bank with Bankia. For every day running costs, as long as we have €2000 in our current account we do not pay for any direct debits. However if we make a payment via a bank transfer, or a cheque we are charged €1.50 each transaction.

We have one debit card with this account and this costs €19 per year.

We haven't transferred any large sums of money since we purchased our property 11 years ago but we will need to transfer a substantial amount soon and I will need to contact the bank to see what, if any charges they will make. So sorry, can't help you with what fees they charge for a large transfer.

Bluejr77

Hello ... we just transferred euros to Bankia in PP for the purchase of our place (completes later this month ) and they seem to have deducted €1 for every €1000 we sent. Queried this and they say they charge €10 max to receive international transfers. I paid a separate charge to my UK bank and I was transferring euros out of the UK so not an FX issue. Still challenging this with Bankia so will let you know if we turn up any useful info.
If anyone reading this has had a similar experience or a suggestion, please let us know.
All the best
Shaun

 

[MAG]

Likewise. Just bought a house and use a Bankia. Sent over a large amount in euros and got the €10 deduction. At first they seem to deducted 1% and then they refunded and then took the smaller standard fee. Confusing with the transactions.
Be aware when you come to purchase as a fee is charged for each bankers draft they prepare for you as well !!!!

 

[Shaun&Caro]

Likewise. Just bought a house and use a Bankia. Sent over a large amount in euros and got the €10 deduction. At first they seem to deducted 1% and then they refunded and then took the smaller standard fee. Confusing with the transactions.
Be aware when you come to purchase as a fee is charged for each bankers draft they prepare for you as well !!!!

Thanks Mag
All now resolved - like you they reversed the 1% charge and applied a flat €10 fee. Confused.com....
Glad you got yours sorted also

 

[whaleywanderer]

This seems a regular occurrence with Bankia, we have also been charged fees for different transactions and when queried the money has been refunded or reduced. I think the moral of this story is always check and understand what you've been charged for and if in doubt ask!

We do bank with Bankia and have found them to be quite good with English speaking staff. We are resident here and have UK pension paid in and also have our house insurance through them, we have a debit card and do not pay any charges.

 

[pine.man]

I have noticed a Barclays bank in PP,
Dose any one use Barclays as there bank, or is it best to go with say Bankia or Sabadell.
For non residents.