Opening Your Spanish Bank Account When you have d…
Tuesday, October 10th, 2006Opening Your Spanish Bank Account
When you have decided that you need a Spanish Bank Account then there are a number of things that you must carry out.
If you are visiting Spain for an extended period then it would be advisable to open a bank account. The process is very straight forward if you do your homework before entering the bank. You must first choose your bank. There are a number of different banks ranging from local to national. If you intend to tour a large part of Spain then pick a national bank.
If you are moving to Spain to retire, buying a holiday home or setting up a business then you will definitely need to open a Spanish Bank Account. In all the above cases you will need to produce your ID (passport) and money to active your account. There is no set cash limit to open an account.
You will be issued with a visa electron card and a cheque book just like a UK bank. When you make a purchase with the visa electron card you will have to show some ID. Generally a passport or driving licence (new type) will suffice. Please remember if you pay by cheque it will be on the understanding that you have sufficient funds in your account. DO NOT bounce a cheque as this is deemed to be a criminal offence.
Whilst in the UK I manage my account via the internet and telephone if required. The bank also sends me a statement of account once a month. Just like my UK bank. The only difference being that they charged me for the postage. I can also transfer money between my accounts for a fee no two banks charge the same fee. Plus my Spanish bank also has a currency exchange service if I need it.
My local bank does not have anyone that speaks English however I have a number that I can ring and speak to someone who does! This person is placed in the banks Headquarters during Spanish Bank working hours. I just say (Hola habla usted inglese) Hello do you speak English? They generally replay No and ask you to wait one moment. The person who speaks English then comes on the line and deals with your request/problem. Very easy and efficient!
I hope this information has been of help and will get you through the setting up procedure.