Opening Bank Account before moving over

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ElVochoClassico
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Opening Bank Account before moving over

Postby ElVochoClassico » Sat Mar 29, 2014 1:22 pm

Does anybody know if it's possible to open a bank account in Spain before moving over, ie before having a Spanish address and can it be done online or would I need to come over to open it?

I'm moving over in October/November this year but would like to have an account sorted before I come. Preferably one with a branch in Torrox :)

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Sat Mar 29, 2014 1:26 pm

I assume I will need my NIE number before opening an account? - is it still possible to get this in Manchester? I am hoping to get over in the next couple of months but there are things I would like to know I can do here so any advice would be fab :)

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Re: Opening Bank Account before moving over

Postby elusive » Sat Mar 29, 2014 7:38 pm

We opened an account with sabadell in january. we move over next week. they didnt require an NIE. seems some banks do some dont. we opened it in person.

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Re: Opening Bank Account before moving over

Postby elusive » Sat Mar 29, 2014 7:40 pm

i believe the manchester embassy shut a few years ago

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Sun Mar 30, 2014 11:27 am

Okay, that's great, thanks :)

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Re: Opening Bank Account before moving over

Postby Chica56 » Sun Mar 30, 2014 2:31 pm

Its so easy to open a bank account when here, its immediate.......and if you arrange with a forex company to hold your funds you want to send over they can then forward them to your account in Spain as soon as you know the IBAN numbers......imho a much better option than going with Sabadell for lack of any choice.....

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Sun Mar 30, 2014 4:30 pm

Thanks for that, is there a bank you would recommend? I'm wondering, I have a Santander account here in the UK and I know Santander is a Spanish bank, so could I just change it to a Spanish account? I don't know much about how banks work etc, so excuse my ignorance if that's a daft idea ;-)

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Re: Opening Bank Account before moving over

Postby gerryh » Sun Mar 30, 2014 5:11 pm

Choose a bank that has a branch near where you are going to live.
Go into the branches near you and speak to the manager. Ask him how much they will charge you for their services.
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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Sun Mar 30, 2014 6:20 pm

Thanks Gerry, I'm still in the UK at the moment, just trying to get as much information as possible before moving over and do as much as I can from here :)

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Re: Opening Bank Account before moving over

Postby carrowcrin » Mon Mar 31, 2014 9:32 am

It is in my humble opinion not necessary for to open an account in advance as with cash card and credit card you can work indefinitely as long as your not buying property or the other utilities that it is a requirement to have the said NIE.... there is also the option of getting cashcard as this way you could manage to buy the currency when the rates are more favourable. If you are thinking of closing UK and making a definitive move it is a completely different scenario...

regards

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Re: Opening Bank Account before moving over

Postby knowal » Mon Mar 31, 2014 9:51 am

Slightly off topic perhaps, but...
Didn't I read somewhere, that since this year, direct debits can be sent outside the country to any bank in Europe using the IBAN number?
I don't know how this would work with a country outside the Eurozone, i.e. the UK - has anyone tried it?

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Re: Opening Bank Account before moving over

Postby elusive » Mon Mar 31, 2014 1:37 pm

ElVochoClassico wrote:
Chica56 wrote:Its so easy to open a bank account when here, its immediate.......and if you arrange with a forex company to hold your funds you want to send over they can then forward them to your account in Spain as soon as you know the IBAN numbers......imho a much better option than going with Sabadell for lack of any choice.....
Thanks for that, is there a bank you would recommend? I'm wondering, I have a Santander account here in the UK and I know Santander is a Spanish bank, so could I just change it to a Spanish account? I don't know much about how banks work etc, so excuse my ignorance if that's a daft idea ;-)
santander uk and spain are totally different theres no real connection interms of your account. although if you keep your uk santander account and have at least £500 a month going in you get free cash withdrawls at spanish santanders cash machines

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Re: Opening Bank Account before moving over

Postby gerryh » Mon Mar 31, 2014 3:26 pm

White Horse wrote: I don't know how this would work with a country outside the Eurozone, i.e. the UK - has anyone tried it?
Yes works both ways between UK and Spain.
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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Mon Mar 31, 2014 5:06 pm

It is a permanent move so I am looking at definitely opening a Spanish account, just trying to work out the bet way to do it :) and whether I can do it before I get there or not and are there any banks that are better than others :-D

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Re: Opening Bank Account before moving over

Postby Enrique » Mon Mar 31, 2014 5:59 pm

Hi,
As many have pointed out a local branch near where you live is a must............

Sabadell are more expensive (maintenance fees) compared to the Caja Rural Group.
All my best learning experiences start with a problem I need to solve.

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Mon Mar 31, 2014 6:02 pm

Thanks, it looks like I'll be over in May so will sort it out then. Thanks everyone for your help :D

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Re: Opening Bank Account before moving over

Postby Gasman » Tue Apr 01, 2014 6:01 pm

I did a google search under "bancos en Torrox" and it came up with a list in Yellow Pages (Paginas Amarillos) for Entidad Bancarias en Torrox :thumbup: ... that will at least tell you in advance what your choice is, then look up each on their web pages and you will have some amunition ready for when you come over ... they rarely post their interest rates and details of their charges, but some may :angel:
Many banks here in spain will offer commision-free current accounts but you will need to qualify :roll: - eg have your electricity and a couple of other regular bills paid through them via direct debits, AND have a regular source of income - otherwise you need to shop around for the cheapest for VISA card annual charges, receiving transfer charges, etc etc.
As other posters have said, it does pay to get to know the staff and manager of your local bank, especially as you get your foot in the door. If you have an estate agent or accountant/gestor already you may find their advice useful too.
Cheers and good luck in your new venture :wave:

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Tue Apr 01, 2014 10:31 pm

That's very helpful, thanks very much, I'll have a google tomorrow and hopefully popping over in May so I can get the process started, NIE number etc if possible :)

Thanks again :)

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Re: Opening Bank Account before moving over

Postby Pamela1 » Wed Jun 04, 2014 12:49 pm

Hi, Sabadell isn't a bad choice if you were wanting to open an account before you went over to Spain, their website is one of the better ones and you can access it in English. As far as bank charges etc? I think that they run an account where they do not charge to receive transfers from the Uk. Even if they turn out to be a little more expensive than some you could always change to a new account when you arrive in Spain and settle,afterall I think the aim of your post was to hopefully have a bank account in place before you arrive. Best wishes.

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Re: Opening Bank Account before moving over

Postby ElVochoClassico » Wed Jun 04, 2014 2:38 pm

Brilliant Pamela, thanks for that. I'll get online now and have a look at them :)


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