Finance - Banking

Banking © Michelle Chaplow

The number of banks has increased considerably over the last few years. There are two main types of bank in Spain, clearing banks and savings banks. In the latter category Spain has over 80 savings institutions called "cajas", in Spanish, which were originally charitable organisations granting loans for public interest and agricultural policies. They comprise co-operative savings banks whose members are agricultural co-operatives, although they play only a small part in Spain's banking system and hold just a few percent of total bank assets. Savings banks are similar to building societies in Britain and savings and loans in the USA and hold over a third of all deposits.

Banking has become highly automated, and with regard electronic banking Spanish institutions compare favourably with other European countries and their ATMs are among the world's best.

There are around 50 foreign banks in this country and these are well represented in Andalucia. Although there are fewer - with an overall smaller market share - than in most other European countries. These banks are full members of the Spanish clearing and payment system and can provide normal cheque accounts, cash and credit cards, and direct debit/standing order services. Banks located in the major tourist regions generally have at least one English speaking member of staff.

Normal Bank opening hours in Spain are from 8.30 am or 9.00 am until between 13.30 and 14.30, Monday to Friday and from 8.30 and 9.30 until 12.00 or 13.00 on Saturdays in winter (banks are closed on Saturdays from June to September or October).

Spanish Finance

Whether you are in the process of choosing a Spanish bank or "caja", seeking a mortgage or wishing to shed light on such local documents as "pagarés", here you will find the information you need.

Accountants

Cash Cards

Accounting services are readily available in Andalucia through both the Spanish and foreign communities.
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Don't leave your Spanish home without one.
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Charges Currency Exchange
Bank Charges are frequently critised for being too high!
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If you are to receive funds from abroad by money transfer it is worth considering a specialist provider.
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Consumer Association Credit Cards
Membership in this private financial consumer's association is open to all for a nominal fee.
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Widely accepted in Spain, here are a few consumer pointers for those wishing to use cards issued by a "foreign" bank.
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Debt Consolidation Investing in Spain
Debt consolidation is often a possible solution for people who find themselves overwhelmed with loan payments that come with a whole range of interest rates and commissions.
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Learn about the local investment market.
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Letras Money Transfer
You can buy these convenient cheque-like documents at a tobacco store.
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If you are to receive funds from abroad by money transfer it is worth considering a specialist provider.
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Mortgages Pagarés
Local, national and international banks offer mortgages throughout Andalucia to both Spanish citizens and expatriates from countries around the world.
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Find out about a special type of check.
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Private Banking Property - Costa del Sol
A qualified private banker can assist you in identifying suitable Spanish investments. Numerous well-known private banks operate in Andalucia.
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The Costa del Sol represents one of Spain's most thriving property markets.
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Property on the Costas Property - Inland Andalucia
Costa de la Luz, Costa Tropical, Costa Almeria. These coastal areas less developed than the Costa del Sol, but quickly being discovered by investors.
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- Inland Andalucia offers special kinds of investment opportunities.
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Registering Complaints Spanish Stocks & Bonds
Learn about the official process for registering complaints.
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Spain's national stock market is active and well-regulated.
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Standing Orders    
Many bills in Spain are commonly paid via a standing order at your bank.
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