Avoid any surprise after selling your house in Costa del Sol. Contact Alex our resident long and short term rental specialist, whether you are looking to rent your property or are looking for a property to rent Alex can help. Benefit from the following free services. Banks do charge more to administer this type of account, but there is one important benefit: you dont pay tax on the funds in your account. I have also been charged 29.5 each for me and my wife (joint account) by La Caixa, using precisely the same description as the previous posting on this thread. No response from them at all and they have continued to take maintenance charges, albeit at the older and lower rate. Quarterly information on fees and commissions and usual rates implemented or offered in the most frequent operations and the most common profiles of clients who are natural persons. current accounts (sight deposit). It is likely that you are charged extra for a credit card. As a non-resident, you are not required to pay certain taxes. For who you are. 0,25% to/from a national non-La Caixa account. The 1,2,3 Account is an account free of opening charges. Non-resident accounts in Spain. Most banks charge an annual fee for the administration of your current account. These include legal advice in your language, 2 hours of free emergency services (for locksmith, electricity and plumbing emergencies) and an unlimited free interpreter service via telephone. Current Account in USD USD 5.00 monthly Current Account in GBP GBP 5.00 monthly Current Account in CZK CZK 150.00 monthly Current Account in RON RON 25.00 monthly Issuing a monthly account statement Free of charge Issuing an additional account statement on clients request PLN 20.00 Issuing a certificate of the account PLN 50.00 As a non-resident, you have to sign a tax declaration every two years which means you are exempt from paying taxes. Just like La Caixa bank, the non-residents only account has vanished from this bank. Fortunately there are some ways of avoiding being charged at every turn, as long as you do your homework. Originally we had Barclay's, which did not assess any fees, but when they left Spain our account was transferred automatically to la Caixa. My name's Alex and this is my website all about Ciudad Quesada in Spain. Or login now if you already have an account, by Superduper Mon Apr 06, 2020 12:35 pm, by Big Wheeler Mon Apr 06, 2020 5:32 pm, Users browsing this forum: ADmantX [Bot], Bing [Bot], Google Adsense [Bot], Helen H, nannyabroad, philcrieff, Raymondo6355 and 9 guests. NatWest told customers two years ago it was removing any fees for international transfers made digitally, while Metro Bank cut the fee for euro payments from 10 This fee includes: Ahora debit card or Antes pre-paid card with no issue and maintenance fee for each account Also read about other important factors when deciding to buy property in Spain. With the right guidance, building your home on the Costa del Sol can be extremely satisfactory. Current Account - (Cuenta Corriente) - This account is generally used for day to day banking and direct debits Proof of your employment status (such as an employment contract, a student card or unemployment paperwork). However, youll get a number of complementary services that are great if youre new to the country. Instant access account for foreign individuals. To open a non-resident bank account in Spain, you will need the following: NIE (Nmero de Identidad de Extranjero) number this is a legal requirement and is the Spanish tax identification number that the Spanish authorities allocate to non-Spanish nationals Passport Funds with which to open the account A document that proves your address in Spain, such as a utility bill that is less than three months old, or a recent bank statement from another Spanish bank. The 1,2,3 Account is an account free of opening charges. Other documents required when opening up a bank account in Spain are proof of ID (e.g. To open an account before you move, you have to do so as a non-resident and set up a non-resident account. We offer a personalised service with products to meet all your non-resident needs and help you keep your finances in order. The fee lies between 15 and 30 euro . A residents account is less costly and may give you more flexibility. Move list to the left. HolaBank Mortgage Now better, easier and in your own language Further information. Your banking services here. Account transfer service. If you need assistance or cannot find what you are looking for please Contact us. savings accounts. One of Revoluts most appealing features is that it lets you spend fee-free at the interbank rate in over 150 currencies. Non-residents are those spending 183 days (six months) or less in Spain per year and without their main professional activity in Spain, nor a spouse or any dependants resident in Spain. How To Open a Bank Account in Spain as a Non-Resident. Read: When building is better than buying, Visit our selection of development opportunities, Estepona Old Town Private House New Build, North American buyers discover Marbella and the Costa del Sol, Spains volte face on long-term rental legislation, Spanish sovereign bonds from the edge to the inner circle, 77 Calle Caridad | 29680 Estepona (Mlaga) Spain. However, its worth asking whether your chosen bank can complete the process for you, for which they may charge a fee of around 15. Even though resident bank accounts tend to be more flexible, opening one as a non-resident will be much easier. CaixaBanks digital onboarding for non-residents in Spain. Which I was assured when I took it out that there would not be any charges. If at any time you wish to change to a residents account, you can do so. They all have an IBAN, so account holders are able to receive transfers from any country. The Standard account is 0 per month, the Premium account is 7.99 per month and the Metal account is 13.99 per month. Buillding your home on the Costa del Sol instead of buying an existing one is a very personal decision that needs verified advice from specialist in the area. NIE. 2020/07/06 16:19:05 Written by Canarian Weekly Business. In general, fees for banking in Spain can be higher than in the rest of Europe, but several banks compete for the business of expatriates and concessionary deals can be secured. Our qualified staff and a many years curated collaborators network makes it possible. passport), proof of address, plus your Spanish NIE number of you are a resident. Customers may hold a maximum of two non-salary accounts or one non-salary account and one salary, pension or business account. *Interest rates and fees for overdrafts deposit accounts and exceeded credit accounts. One thing: the 26 fee each term is not from the bank, but a tax from Spain for all non-resident bank account. Opening a residents bank account. Open your account safely from anywhere. 0,25% to/from a national non-La Caixa account. A residents account is less costly and may give you more flexibility. A valid, current passport or national identity card if youre an EU citizen. Just be prepared though that staff may not speak English or very little Eglish. Best banks for non-residents in Spain. business accounts. Please browse through our knowledge base of useful information for selling. Therefore, we still recommend them as the easiest account to open when just landed, but recommend ING or EVO for banking further down the road. Because it doesn't matter where you're from but where you are. New charge of 60/quarter by La Caixa does not apply to non residents' accounts.Maintenance charge of 12/quarter and 13 for each bank card remain. Talk Quesada is free to sign up and use so register below! However, youll get a number of complementary services that are great if youre new to the country. DOCUMENTATION NEEDED for a Spanish Bank Account. When you do eventually become a resident (living in Spain for 183 days or more a year, or having a business or employment in Spain) you must inform your bank. Editors note: This article was originally published in 2013 but has been updated and corrected in May 2018. La Caixas current account for non-residents is a basic, no frills bank account. Hi Willow and Mondo, are you resident in Spain as the increase in charges seems to be for non-resident account holders? Residents accounts offer slightly better commissions and fewer charges than Non-resident accounts, but the difference is marginal. La Caixas current account for non-residents is a basic, no frills bank account. A document proving your employment status. Choosing the right Real Estate agent to sell your property on the Costa del Sol leads to a faster, safer and more informed selling process. Do any banks have accounts with easy access but no fees? The Non Resident World Account is a euro current account, with complete liquidity, with an associated package of products and services that will make your day-to-day life easier. Most banks will charge fees (e.g. Being able to talk to a bank official is more likely to ensure there are no misunderstandings about any aspect of the bank account. When opening a bank account in Spain, many are shocked to discover hidden costs for services that come completely free when banking at home. This account comes with one free credit card (main card only, no beneficiary card). Updated information on published interest rates and fees and commissions, tacit overdraft facilities on current accounts, and tacit overdrawing on credit accounts. For when you pay charges or make payments in non-euro currencies. Have had this account approx 2 years with no charges. Managed to get in touch with La Caxia who have told me new charges have been put off till October? We can help you in many ways. Log in and open one As an example of fees, La Caixa charges the following for transfers into and out of the account. Payment methods are also the same, with the exception of cheques which are virtually non-existent. If at any time you wish to change to a residents account, you can do so. It can be opened 100% online through bbva.es and the BBVA app. However, if you are moving to Spain to live there on a permanent basis and need an account for day-to-day spending, then a resident account (Cuenta para Residentes) is the right way to go. Compatible with direct debit arrangements to pay all kinds of bills, as well as the direct depositing of your salary. If you are not a resident in Spain, you do not have to pay any tax on interest which is paid out to you. To open a non-resident account, you will need the following: The bank may also require a Certificado de No Residente. Thank you big wheeler do no charge for non residents. Opening a bank account in Spain is relatively easy, however, you will need to decide whether to open a non-resident bank account or one for residents. Please view our handpicked selection of new and off plan properties. While many people seem to be happy with the service of traditional Spanish banks, like BBVA, La Caixa, Bankia, Banco Sabadell, and others, this post will focus on online bank account options for expats in Spain, that would be attractive for foreigners with limited local income and who arent sure how long theyll stay in the country. I bank with la caixa and they informed me that from April the charges would be 60e per quarter. The Fee-Free Online Account is only for new customers who live in Spain. I have been told that this is to be charged every 2 years as a certificate of non residency which the bank must send to the tax office to help them pursue tax from non residents. This type of account is for those people who spend no more than 183 days per year in Spain. By Eloise Horsfield | Property News | June 6th, 2018, TERRA MERIDIANA 2021 | Privacy Policy | Legal | built by Inmoba, Click on a location to discover more about the area. A payslip, tax return or a government document showing you are unemployed, or receiving a state pension will suffice. If we take out all our Insurances with them, we apparently will get a refund at the end of the year. I have emailed them and asked if the charges would be dropped as i can't get to the bank to physically close my account because of this virus thing. For starters, most Spanish accounts charge you just for the privilege of having an account with them. And you can always switch over to a resident account should you decide to make your stay in Spain more permanent simply make an appointment at your local branch and ensure you have the necessary documentation. The non-resident bank account. Non-European non-residents will need their passport too. For those who move to Spain for a long period of time, it is extremely important to decide with whom to trust finances and where to open a banking account, as well as to learn about the main features of the Spanish banking system. I went to La Caixa to open a non-resident bank account and the guy said I had to sign up for their health insurance or dental insurance with Adeslas.When I asked why, he said it was the law that non-residents had to have insurance in order to have a bank account. To open a residents account, you will need: It is possible to open both types of bank account online, but you may find it easier to visit the branch of your chosen bank in person. Has anyone paid their non residents certificate recently please? OR can advise how to avoid fees. They are available from Spanish police stations, or the bank will get it for you at a cost of around 15. We bank with Sabadell and have each been charged 30.25 Euros for Commission/fees Peticion Cert and a further Euros7.03 for the non residents authorisation charge. Not sure what! Bank accounts on offer to expatriates in Spain are divided depending on whether the expatriate is deemed to be a resident or non-resident for tax purposes. I'm afraid nearly all the banks have stuck charges on their accounts and it has been discussed on this site many times. You will usually have a spending limit and will need to pay bills periodically (usually monthly or quarterly). Direct debits and standing orders A non-resident bank account in Spain is a good temporary solution. an annual fee) for credit cards, although some do offer free cards when opening certain types of accounts. 18448-2020-5555. My husband was able to open a non-resident bank account with La Caixa in Aug with his Irish passport and 20 euros deposit. (Pursuant to Circular If necessary choose a bank that translates all their literature into your native language. New charge of 60/quarter by La Caixa does not apply to non residents' accounts.Maintenance charge of 12/quarter and 13 for each bank card remain. That said, la Caixa has been alright although they do assess quarterly fees of about 5 euros on our non-residents account. A quick 10 steps guide to purchasing property in Spain, specifically focused on Costa del Sol. I to are with Bankia, non resident but took the account out to pay 4 standing orders and for the first time have had charges put on the (On) account. Banks charge high fees in Spain, and mutual funds/money markets are not very developed, so it may be better to keep most of your money back in your country. In terms of choosing a bank, you have a lot of options. We have successfully managed some incredible projects on the Costa del Sol. Last October my Caixa Bank charges changed from 12 per quarter to 24 per quarter then on 1st April Went up to 35 per quarter. NRI: 18209-2020-5555. This guide addresses many of the common questions posed by landlords and investors, and provides useful advice to help you decide if renting your property. He is able to access his account on line from the US and transfer money from his Canadian bank to his La Caixa bank. This confirms that you are non-resident. After asking around most people locally recommended BBVA or La Caixa to me, since they have really great online access as well as mobile phone access. I have opened a wise account and have had all my Direct debits changed over to them. Residencia. Conditions: The Cuenta Mundo for non-residents is a non-interest bearing current account1 with a maintenance fee of 10 per month (NIR 0%; APR: -0.82% ). If you rent a property in Spain as your permanent residence or are thinking of moving to the country to live full-time but do not (yet) want to buy, this practical guide can help with renting your next home. We are with Sabadell, and if we take out insurance with them car/house etc they will waver the charge. Opening a resident bank account. Which Spanish bank is best for my needs? ", BBVA will charge a maximum, one-time, all-inclusive fee of 3. Proof of home address, ie a recent utility bill or your Padron. The advantage of setting a bank account up as a non-resident of Spain is that you do not have to pay any tax. If you are a resident of Spain, you have to pay 21% on the interest gained on your savings. La Caixa will charge you for pretty much anything you do with them, with an non transparent pricing policy and constant changes you need to stay on top of - it Apply for an account. APR: -1.79% for a constant daily balance of 2,000 for one year. This type of account is for those people who spend no more than 183 days per year in Spain. Opening a bank account in Spain is relatively easy, however, you will need to decide whether to open a non-resident bank account or one for residents. This is mainly for tax purposes. The Basic Payment Account is a euro-denominated account for personal and non-professional use by individuals of legal age. CaixaBank, first Spanish bank to enable non-residents to open an account and apply for a mortgage online. Clients may also be hit with penalties for having a cheque book, receiving emails or using ATMs, with costs really adding up for account holders whose salary or pension is not being paid into them each month. For the services indicated in the section "What services are included? This account can be opened by anyone legally residing in the European Union, including asylum seekers and people without a residence permit who cannot be deported, provided they do not hold a similar account with another bank in Spain. CaixaBank is first to enable non-residents to open an account and apply for a mortgage online. With the HolaBank Account you'll automatically become part of the HolaBank Club, with a host of advantages for your everyday life, with free discounts and services for your family, your home and your spare The account will start to bear interest as soon as you open it with settlements every six months from then onwards. Among the terms to open this account is the domiciliation of at least 600 euros monthly or recurring deposits, having at least 3 service payments made in the last 3 months and a minimum of 6 uses of your cards in the last 3 months. Location, location, location! They are available from Spanish police stations, or the bank will get it for you at a cost of around 15. Welcome to Talk Quesada! Welcome to the HolaBank Mortgage application form, where we offer you a high-quality service, financial support, advice and guidance, which will make the whole process for purchasing and financing your new home in Spain easier. This confirms that you are non-resident. Please consult your bank for the most up to date information regarding charges and rates. If you need an account that will meet your needs then Bankia has the one for you. As an example of fees, La Caixa charges the following for transfers into and out of the account. Santander still offers 123 customers in Spain three per cent on balances up to 15,000, This is Money has discovered - and the banking giant has confirmed British residents can open the accounts. A 1-2-3 guide with the crucial points you need covered when selling your property in Spain. What Different Kind of Accounts are There? Choosing the right location is the first step to finding the right property and a key part of our unique property finding service. For this, you may need to provide a certificate of non-residency . You can view your account entries and account statement from our website or on your cell phone or tablet. Passport: You will need a valid passport as proof of identity. With free services partners as a card, online access, etc.