Need help with basic banking

On money transfer, I suggest getting a credit card that doesn't charge currency exchange fees. I have a CITI platinum card, that charges no forex fees and also gives me miles on American airlines. There are other benefits as well. I believe my plat card costs $95/year.

For large amounts of money ($10000), I use transferwise, which charges about 1% to transfer. Long ago, when I paid rent, I did it by an electronic bank transfer. Once you have your bank account set up, and you have a mobile phone, you can transfer euros electronically. The bank sends you a confirmation code to your phone. If you find a bank that does large money transfers between international branches without a forex fee, and doesn't make up the fee in some other way, let me know.

You might see if some of the currency transfer sites, like Transferwise, work out of the US. I think they do.

I use them, and they have a US address, so the wire from my credit union only costs $10, the domestic rate. I have a US colleague who claims he does better with a little known company, but says he has to call and "deal". I have also used Worldfirst, which has similar rates, but they seemed to inch up a bit. Previous to that Vestar, also around one percent but no computer platform that allows one to lock in a rate timewise. Of course, the big problem is trying to get the best rate. The "experts" are almost always wrong, and events that I think should affect the rates in one direction, often do the opposite. I find that setting a specific reasonable rate as a goal, and checking on a weekly or daily basis works well, if you are not under pressure to pay bills.

I have read Sabadell needs only your passport #

There are other banks also.

morenasix wrote:

I have read Sabadell needs only your passport #

There are other banks also.

If you shop around you will find that different outlets for almost anything will vary one from the other.   

So a  person you speak to in one branch will probably explain their requirements differently from other staff in the same branch, let alone in different branches.   

That does not mean the requirements are different just that the staff are not equally efficient

The only thing I will say is shop around because different banks and even different branches of the same bank may charge different fees.   A manager can vary charges so try to negotiate for a better deal for you

DO NOT THINK, from your experience in another country or bank, ANYTHING WILL BE HOW YOU THINK IT MIGHT BE

We bank with Deutsche Bank, and my pension is deposited there every month. It's over €700 so we get free banking, no charges at all. Also very efficient...when they say they'll phone you back in 20 minutes they actually do just that!

Do you need an NIE initially?

Some banks, or more precisely some branches of some banks, will allow one to open an account without an NIE, howeve,  my understanding is that one should not be allowed to operate the account until the number has been obtained

One also needs a certificate to prove they are a resident or non resident.  In the later case one needs a renewal, I believe, every two years

If one wants to know what a particular branch of a bank requires I suggest one asks that branch.

I need help on a catch 22 my name is kim  I live in England I trying to get information about banks in Spain I was told you can’t open a bank account unless you got a NIE resident  you need to have the money in the bank 3 months before you apply  So can you open  account in Spain and also transfer payments

Kim   
An NIE is only a fiscal ID number.
To obtain such a number there is no requirement to have any money.
I think you are getting confused with applying to resident status.

In any case banks will usually allow one to open an account although technically they should not allow you to operate the account until you have an NIE

Hi Mark
I'm mark too I'll be happy to help with translating and stuff, it's all a mess at the start but bit by bit. I've got my nie and I'm with bankia 4 years. Not much cheque stuff, usually back transfer or direct debit which is domiciliacion in Spanish.

Re post
I'm mark too I'll be happy to help with translating and stuff, it's all a mess at the start but bit by bit. I've got my nie and I'm with bankia 4 years. Not much cheque stuff, usually back transfer or direct debit which is domiciliacion in Spanish.

I was a bit confused by that,  but I see now the post was referring to the original post on this thread

Thank you if you got any more information I would be grateful do you get help to fill in forms as they are in Spanish and to write in Spanish

If you are in U.K. then you can make the application for an NIE there.    You will need to look online for where and how,  but this might help:   
http://www.exteriores.gob.es/Consulados … s/NIE.aspx


This is for those who wish to apply when in spain

TO MAKE AN APPOINTMENT WITH THE POLICE FOR  NIE,  E.U. Citizen registration, etc.

As you go through you will find links to the application forms and the payment form (No. 790) you can pay at any bank.


Click on `aceptar´ or `entrar´  to move on to next page.

.•            GO TO   https://sede.administracionespublicas.gob.es/icpplus/

•             PROVINCES AVAILABLE:       CHOOSE the province where your are living/ staying

•             SECTIONS AVAILABLE IN PROVINCE:          OPEN PAGE AND SELECT SECTION  REQUIRED

              e.g.    “policía  certificado de residente o no residente”  (that includes NIE application)


•             ENTER THE DETAILS OF APPLICANT. if you have an NIE show that, if not then show your passport number

•            CHOOSE NATIONAL POLICE STATION FOR APPOINTMENT:      The one that covers the area where you are living - staying

•             CHOOSE APPOINTMENT,  AND THEN CONFIRM

•             You must PRINT A COPY OF THE APPOINTMENT,   And take it with you to the police station


You can find info here in English about completing the EX15



http://www.exteriores.gob.es/Consulados … 0GUIDE.pdf

Hi Mark,

I'm from Canada and when I moved here I found that PayPal was the easiest way to transfer funds between North American and Spanish accounts.  I have a Canadian PayPal account set to one email address that is connected to my Canadian Bank Account and a Spanish eBay account linked to my Spanish BBVA bank account.

If I need to transfer money from my Canadian account to my BBVA account, I send a transfer between Paypal accounts and then from my Spanish Paypal account I click on Deposit to bank.

My husband works internationally and he does not have a NIE, so he's paid in his Canadian account and he pays our rent through PayPal, which our landlord accepts.  Since I have a NIE and live here full time, we finally went to the bank and managed to get a secondary card for him from my account with his name on it.  Going forward, we will just use the one account, but Paypal has been a lifesaver in the interim.

Marni

Hello Mark-
When we first moved to Spain I had money wired to cover our bills.  The credit union I used in the US let me send a wire over the phone but the corporate bank I had to set something up before I left to send wire to Spain.
The first bank I had in Spain was with Sabadell and my name couldnt be added until I has my NIE.   The landlord gave us her bank account number and monthly we sent up a transfer to pay the rent. Actually most bill are paid by transfer that are set up when you open your accounts( water, cell phone and credit cards, etc..)
I have not found a bank in Spain that will accept a check from a US bank.

good luck

claxnes wrote:

On money transfer, I suggest getting a credit card that doesn't charge currency exchange fees. I have a CITI platinum card, that charges no forex fees and also gives me miles on American airlines. There are other benefits as well. I believe my plat card costs $95/year.

For large amounts of money ($10000), I use transferwise, which charges about 1% to transfer. Long ago, when I paid rent, I did it by an electronic bank transfer. Once you have your bank account set up, and you have a mobile phone, you can transfer euros electronically. The bank sends you a confirmation code to your phone. If you find a bank that does large money transfers between international branches without a forex fee, and doesn't make up the fee in some other way, let me know.
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I'm probably late to this question so it's likely been comprehensively answered.
We were recently able to open a non-resident account at Santander, without any difficulty.
I understand that you do need some permit (is that the NIE?) to open a resident account, and that a resident account has lower monthly fees.
I have since transferred 100 GBP from my UK account via their app and without any fees.
And I can now check balances and make payments from the Santander app provided.

Reasons to have a Spanish bank account:

1. For our residence permit application, it said it was a requirement (with a stated minimum balance based on the Spanish average monthly salary for a year in Spain).

2. To pay the household bills of your Spanish home automatically by direct debit, it is pretty much required. If you prefer to pay cash at the electricity office you don't need a bank account.

3. With all your local purchases (e.g. groceries at Supermercados Dia) the cheapest way to pay is with a debit card on your local euro account. Using an overseas debit or credit card (especially if in USD) will cost significantly more.