Savings account

Last activity 10 December 2020 by Vonster.1

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AndyviolaActive member27 September 2020 09:26:00

Hello
Is there such a thing as a "savings account with instant access" in Spain? My wife doesn't need interest paid but she needs somewhere to put 30k savings without needing to feed money into it every month (so not a current account).
Any suggestions and savings account names please?

JohncarSpain expert27 September 2020 09:53:05

1412

My wife has a current account with CajaMar. She bought some shares in the bank. That gives her free banking and also she get dividends on the shares. Of course her funds are instant access.

She has held the account for about five years. No complaints.

I would think other banks offer similar deals.

AndyviolaActive member27 September 2020 11:06:54

Thanks John but does your wife have to make monthly deposits into that account or fees incurred? My wife doesn't have an income so she can't do that.

JohncarSpain expert27 September 2020 11:15:01

1412

As I said, as a result of buying the shares she has free banking.

No other requirements.

Vonster.1Active member10 December 2020 13:11:04

Other possible ways to exempt the banking fees 1) set up auto debit for the utilities 2) buy health insurance from them 3) buy home insurance from them, maybe others. Every bank is different though. Caixa and Santander both lost about 40% in the 2-3 years even prior to the pandemic so it's not an option that I considered.

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