Cuenta de Pago Básica?

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Screagle
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Cuenta de Pago Básica?

Postby Screagle » Thu Mar 19, 2020 4:37 pm

Has anybody had any luck yet with switching to the Basic Payment Account from their existing Spanish bank account? I'd like to ditch my Cuenta Zero 123 with Santander for their Cuenta de Pago Básica or any other provider for that matter. I'm non-resident.

Saludos

steve_w
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Re: Cuenta de Pago Básica?

Postby steve_w » Wed Mar 25, 2020 7:09 pm

Hi Screagle -

Have you thought about ditching Spanish banks altogether? I'm currently in the process of moving our direct debits for utility bills, etc from CaixaBank to the UK bank, Starling. Take a look at this thread (https://andalucia.com/forums/viewtopic.php?f=22&t=39959) for more details.

Steve W

Screagle
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Re: Cuenta de Pago Básica?

Postby Screagle » Thu Mar 26, 2020 3:32 pm

Thanks, Steve - I've a trick up my sleeve to dodge the 12 euros monthly fee. I'm working on it!

Screagle
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Re: Cuenta de Pago Básica?

Postby Screagle » Wed May 20, 2020 10:50 am

So no 12 euro fee this month - my dodge involves transferring in the minimum amount for a fee free account. I already meet another criteria for free banking by having at least three direct debits per quarter (internet, luz and water). I then repatriate a smaller amount to meet the minimum sterling funding requirement for one of my UK bank accounts. I'm using Transferwise for both legs i.e. UK - ES and ES - UK.

The exchange rate exposure risk is low and depending upon timing can even work in my favour. Transferwise fees work out more or less the same as a Basic Payment Account but I retain the benefits of Cuenta Zero 123 e.g. free eurozone transfers.

Saludos

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patricia
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Re: Cuenta de Pago Básica?

Postby patricia » Sat May 23, 2020 9:28 am

Screagle wrote:
Thu Mar 26, 2020 3:32 pm
Thanks, Steve - I've a trick up my sleeve to dodge the 12 euros monthly fee. I'm working on it!
Is that with Caixa. Can you let me know what the "trick" is. I have two pensions paid into my account but they still charge me 9 euros a month and for using my debit card. It used to be free but now it isnt.

Is the maximun you have to pay in to get free banking with Caixa or do you have insurance etc.
Torrox Costa "El mejor clima de Europa"

Screagle
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Posts: 63
Joined: Thu Dec 06, 2018 6:38 pm
Location: UK / 11540

Re: Cuenta de Pago Básica?

Postby Screagle » Sat May 23, 2020 11:12 am

Sorry, Patricia - it's Santander's 123 Cuenta Zero account. You need to deposit at least 600 euros a month and have three different active direct debits per quarter to avoid the monthly 12 euro account fee. If you meet these criteria you might consider switching but who knows how long it will be before Santander change the rules...

Saludos

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patricia
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Re: Cuenta de Pago Básica?

Postby patricia » Sat May 23, 2020 2:08 pm

:thumbup: Thanks for letting me know
Torrox Costa "El mejor clima de Europa"


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