It used to be notoriously tough to get an account, but it’s recently become more straightforward. That said, compared to some of its brick-and-mortar rivals, it’s missing a few important features. I hope to find an answer here, if possible. See the IBAN Example page for examples of IBANs in various countries. When an IBAN is in printed form, the numbers are split into groups of four characters. You will then have to wait a few days until the papers arrive at the Self Bank offices in Madrid. Check it out, I think you will like the idea behind Raisin. I’m happiest with the online banks like N26, Revolut, TransferWise as well as BBVA at the moment. Unless you put minimum of 800 euros a month into the account and accept the obligatory credit card you will be charged for every debit and transaction. Very disappointing and stuck without solution. IBAN: validate IBAN, show BIC : If a digit or two are unknown, enter question marks instead (e.g., DE12500?0?170648489890). Swift Codes also known as BIC Codes is a unique bank identifier used to verify financial transactions such as a Bank Wire Transfer. Banc Sabadell is the best mix of a traditional bank with offices all around, and a good online service. I find it extremely convenient to be able to access all these investment products in one place. They are truly incompetent. When I arrived in Spain, I had a list of criteria that I used to search for the best bank here. Absolute joke. Runner up are UK banks btw who milk their clients wherever they can (fully exploiting the fact that they stayed out of the EURO which allows them to charge ridiculous fees for simple transfers). ), Hello Lynn Our Financial Services Register … I have tried at least 4 times with the application process blocked before completing the form. Finally, you can make an educated decision on which account to use. You might lose one without even noticing, not to mention the inconvenience of a fat wallet in your pocket. Just thought I’d flag this up. Pensions, property and more. Next, a courier will come to your house within a few days to give you your debit card, and you will need to give him a copy of your identification documents (passport and NIE usually). Accept payments dirrectly into your Monzo Account; Allows any merchant using Monzo to make payments dirrectly into your account. Jean Galea is a dad, amateur padel player, host of the Mastermind.fm podcast, investor and entrepreneur. You’d have to use your passport instead. Maya. I haven’t been to a bank in years myself, so I much prefer these digital banks. Was that your predicament? I have lots of content on that subject as well on this site, and a good place to start from is my post on the best property investment platforms in Europe. Note that many traditional Spanish banks do not provide sign up instructions on their website in English, but it’s pretty self-explanatory in most cases. Use Entities Finder to find relationships between entities, things, concepts and people. For example, if you make a gym subscription, or if you sign up for private health insurance, you will need to provide your bank details, and you need to give a Spanish IBAN number. Great information here. You can give this IBAN to the sender, to process the payment. Bank Code Checker & Lookup At Bank.Codes, we provide a lookup function to … I already have two – Sabadell which used to be good and Caja Rural local to my property which I felt I needed at the time. Update June 2018: I no longer recommend this bank due to the various reports of multiple charges that are now associated to having accounts with them (see comments section). Whenever you have any queries, you can access their chat support online, and someone will attend you within seconds. If you own min. Global Citizen. It is basically an aggregator of all the savings account offerings across Europe. I tried 5 times and always the same issue and problem. Caja Rural etc to charge considerably more than they already are I’m keen to look for an alternative. Every N26 bank account is guaranteed by the Compensation Scheme of German Banks up to €100,000. One of Revolut’s most appealing features is that it lets you spend fee-free at the interbank rate in over 150 currencies. I speak fluent Spanish, so that’s not a problem. You can also withdraw for free with the same condition from the following banks: Bankia, Abanca, BMN, Ibercaja, Kutxabank, Unicaja, Liberbank, EspañaDuero, Cajasur, Caixa Ontinyent y Colonya Caixa Pollença. Monzo Premium: Banking that makes a statement Turn heads with our white metal card, made from steel. You will need it for several things, most importantly for paying your monthly rent. The same thing applies if you have an iPhone and want to use the Spanish app store; you need a Spanish debit or credit card. Agreed with all your comments. Now that we have the option, I recommend opening an account with N26, which is a new breed of bank that is totally app-based. We’re the banking alternative that offers you fast accounts in 31 countries. Revolut shows you real-time cryptocurrency graphs which shows you current rates. Padel Player. The IBAN structure and compliant formats are defined in ISO-13616-1. Rebellion Pay is a product that is clearly targeted towards teenagers and people in their twenties. I contacted some people within Revolut, but beside a very friendly conversation, I don’t have any solution regarding this issue, as keeping this account on the background instead of using it as a primary account. You can send money to friends with their Self Money app, all you need is your friend’s mobile phone number or email address. Before you make a payment, you can use the app to choose which bank card you want to take the money from. Evo Banco offers another free online account, and although I haven’t tried it myself I have heard good things about it. Banks trust each other, so if one bank has done its checks and opened a bank account for you, you can then open another account at another bank by just providing basic identification and the IBAN number for your other bank account. It’s decent enough, don’t get me wrong, and most banks have very good online systems and apps, however, support and compliance can get very frustrating. Raisin puts more than 70 savings products at your disposal. If too much money in the account, I will just withdraw and take it back to put on my other account. Having said that, since there is no cost to signing up to and maintaining a standard Revolut, I would still recommend having it, especially since you like to travel. Monzo Bank Limited is a company registered in England and Wales (No. Self Bank has a modern website and account management interface and is one of the best-regarded online banks. We’re giving you the financial freedom to live, work… Example usage of calculator for United Kingdom: choose country United Kingdom (UK) enter Sort Code - 200415 and account number - 38290008. The solution to that is to use the Curve app and card. Also, minus points for N26 for not even making any mention of this anywhere. It’s a hassle having many cards in your wallet. I found a way around the fees being charged. When a friend went to my a branch in Chiclana she was told that I would have to put up with no access until I could visit a branch. Let me share them with you: Here are some of the typical bank fees charged by banks here that I was not prepared to pay: After spending many hours in online research, speaking to people and visiting bank branches, these were my shortlisted banks: Before we delve into details about each of these banks and my top pick, I’d like to make a special note for those who will be transferring money from other countries. I really hoped I would get around it somehow but can’t. Banks use these to determine whether the IBAN is in the right format. Our Financial Services Register number is 730427. Their savings account offers 0.5% interest. These were prepaid Mastercards which the user could top-up via bank transfer or via an existing … I live in uk and am english but want a non resident bank account in Spain. As a non-resident, I have been with Bankinter for 14 years and they have been okay as a local bank but fees have been creaping up over the years and I have just been too busy to notice. For now, Revolut still has obligations to safeguard your funds in a separate bank so you can get them back should anything happen to Revolut. Others may have stricter policies, and they might reject your application without providing any specific reasons. Since the introduction of International Bank Account Numbers (IBANs), the countries which use IBAN have mostly integrated their local bank codes into the prefix of IBAN account numbers. How can I add money using my linked bank account? If I get this one can I put money into a BBVA branch? Thanks for that. You mention that you are happy with BBVA. Only letters. Evo Banco was one of the pioneers of the digital banking revolution in Spain, so it is a good option if you are used to conducting all your banking online, but not so good if you like being able to walk into your bank to conduct transactions. The IBAN will then be automatically completed. What’s more, it’s incredibly easy for anyone to use cryptocurrencies such as Bitcoin with Revolut. A foreign account is good enough for proof of funds to get the NIE. Thank you for this article. I haven’t come across this bank before and I’m not sure whether they have any presence in Spain. BBVA is a Spanish bank with an excellent reputation, and their mobile app has won numerous awards. I have lived in 6 other European countries and I have to say that Spain has the worst banks I have seen (in terms of hidden fees, lacking customer service, and doing simply dumb things like blocking a transfer or an entire account for no reason whatsoever). thanks. With Bankia, you can send or receive money from friends using the Bizum system, and you can also use Bankia Wallet to pay directly with your mobile phone, in a similar way to ING Direct’s Twyp Cash. If you have any questions about currency exchange, leave a comment and I’ll try to help out. Pretty please… Are you planning to update this soon? You get your own free local bank account details in Europe, UK, US, Australia and New Zealand so you can have a local bank account before arriving. My wife (Russian) was straight up refused consideration from various banks, while even myself (Maltese) was refused in one bank due to the manager claiming that Malta was on some kind of blacklist, which is very weird since it is in the EU. Monzo initially issued (with partner company Wirecard) a variety of alpha, beta and investor cards to its customers who wanted to be early adopters. Revolut has three tiers: Standard, Premium and Metal. Is this the way to treat customers & is it reasonable that the only way to contact them requires fluent spanish. 1 Like. They’re of course a well established Dutch multinational bank and they have subsidiaries in many countries. They will also give you special discounts at certain shops and 3% cashback on fuel bought at Galp or Shell. Thanks for choosing to leave a comment. Or it’s not good enough in Spain? They have a weird policy of letting all incoming transfers in, then suddenly asking for documentation about all incoming international transfers months later. The next 2 characters ("KK") specify the check digits, used to confirm integrity of the code. They will not accept a uk mobile. Our Financial Services Register … That’s because the banks still use an old system to exchange money. If everything is in order, they will open your bank account and send you the cards. Hi Jean, Iam thinking of closing my Santander 123 account due to the new increased charges so wondered if you have some info/feedback on the Openbank online account? The big disadvantage of using Revolut at the moment is that you don’t get a Spanish IBAN. See the IBAN Example page for examples of IBANs in various countries. Hi! Hi! The most common cases are GBP and USD but this applies to any other non-Euro currency. I am not charged any fees with this account and there don’t seem to be any hidden charges. However, there are some good online options if you’re seeking some return on your money. For all account tiers, Revolut gives you a free IBAN account, a free UK current account and a bank card so you can spend your money. They also offer a credit card facility and of course, Apple Pay can be used with this bank as well. as far as I know, Santander offers a non-resident account. I am looking for an account for low commission charges and where I can pay Spanish Social security and taxes out of and also put money in to cover these costs. I’m trying to open the BVVA online account, but my employer isn’t a Spanish company and I’m stuck and can’t complete the online application. In Bankia’s case, there is no minimum balance requirement. or what might be a way to be able to sign up? !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)? It is used in conjunction with the IBAN. If you’re interested in making the most of your money, don’t leave it sitting in your bank account where it generates low returns. This allows banks to correctly process international money transfers. The best thing about Cuenta ON is that it is completely commission-free. Their savings account offers 0.15% returns. julien 1 September 2016 08:05 #12. You can make fee-free currency conversions up to €6,000 per month, after which a 0.5% fee applies. ES In order to open your account, they will ask you for another account at a local bank for verification purposes, so this cannot be the first bank you open. Let’s move on to Bankia now. Perhaps you are already thinking of a loan or mortgage, or you’re interested in finding a bank with great stock brokerage facilities, or even other products such as life insurance or deposit accounts. Thanks again. They might also ask for things like your rental contract, statement from your foreign bank, tax statements from your previous country of residence etc. Because of these reviews I am rather reluctant to use the account for anything other than pocket change. For example, a UK IBAN in printed form would look like this: GB99 RBOS 1234 5612 3456 78. It’s designed for those who travel a lot and offers ways to spend abroad, including international money transfers with no hidden fees. There are no fees charged for national or Eurozone transfers. Every IBAN has two check numbers following the country code. I’ve found this list really useful, so thanks for compiling it and keeping it up to date! I have been with sabadell for 1 year now and they have added yet more fees – not enough to charge us €35/month, now they’re charging a card maintenance fee of €30 as well. If you’re opening your first bank account in Spain with one of the local banks: The proof of income documentation is not always required. You can send a bank transfer to anyone with a UK bank account. I don’t link restrictions like domiciling my paycheck. Regarding N26, I opened an account with them but then read a bunch of really scary reviews on trustpilot according to which N26 froze people’s accounts for no reason and did not reply to client requests to have them unfrozen. Banc Sabadell is one of my favorites, if it weren’t for the requirement to make a monthly inbound transfer of at least 700 Euro to keep the account commission-free, I would probably have opened an account with them instead of ING Direct. It’s not the best account to choose if you’re here in Spain temporarily or if you’re a non-resident. Thanks a lot for the clarifications! IBAN Structure & Examples Let’s talk about some of the most common words used in Spanish banking. Keep in mind that banks do discriminate openly against citizens of certain countries that they deem to be on their “blacklist”. With these papers in hand, you can then ask for a UPS courier to collect the documents at your convenience and at no charge. As a result some accounts (and the money therein) were apparently blocked for months at a time. This bank is also commission-free and 100% digital. IBAN Structure examples can be used to test our service and understand how different countries construct IBAN numbers. Please remove this comment to prove you're human. The famous online bank Revolut is also available to residents of Spain. Hi Jean, Monzo Bank Limited is a company registered in England and Wales (No. Basically Curve allows you to load all your cards into its app, then use just one card (the Curve card) to make your payments. Desde tus gastos diarios hasta planificar tu futuro con ahorros e inversiones, Revolut te ayuda a sacar más partido a tu dinero. It’s very frustrating. My requirements are: to hold my money, pay some direct debits (taxes, electricity, home insurance), online access, no monthly pay slips or entries, no spanish phone number. I find these practices extremely insensitive and unprofessional and cannot recommend this bank any longer. You can also set up price alerts to hear when your cryptocurrency hits a certain value. Min: it’s very frustrating indeed. Do not open a bbva account, their maintenance fees have gone through the roof. Have you heard anything about this? Transfers should happen instantly, but can sometimes take up to 4 hours. There are no commissions on outgoing or incoming Euro transfers either. You can withdraw money from Bankia ATMs (up to 600 Euro daily) and no commissions will be charged. Info about Monzo. I will use this list to find our next bank. You can also set up a TransferWise Borderless account which gives you a debit card in multiple currencies that is perfect for travel. This means that if you use the N26 account for your taxes and SS, it will be impossible to collect benefits such as paro, ERTE, parental leave, possibly even pension. Since April 2019, N26 gives its Spanish users a Spanish IBAN account, so you will be able to use the bank for any direct debits as you would use other Spanish bank accounts. Perfectly fine for me, as I find it way more comfortable doing everything online. I was asked to contact a branch to open an account but I am trying to avoid those crazy fees the banks are asking for doing nothing.. You’ll need the name of the person or company you’re sending it to, and their account number and sort code. One app for all things money. Thanks in advance. If I apply to N26 will I be able to use it in UK and Spain when UK leaves the European Union without a deal. Now that we have the option, I recommend opening an account with N26, which is a new breed of bank that is totally app-based. Click on "Generate" button below to use IBAN Calculator to generate IBAN or "Validate" button to check an IBAN. I filed an official complaint with them (to no avail) and 2 weeks later with the Bank of Spain but well, this being Spain it will take months of waiting until nothing happens in the end so …. If you get stuck, you won’t be able to visit a local branch and hope that someone there speaks English. The website and contracts are also available in English, making this the best bank to look at if you don’t know any Spanish or prefer dealing in English. Try it now, it is free! Hey Nikki, I’ll update it if I come across new information, but it’s not something I keep on top on a daily basis. That is why I would recommend N26, a German bank with the very latest technology and an amazing mobile app through which you manage your account. The most important requirement in order to keep this account commission free is that you conduct all operations online without visiting the branches. Signing up is simple and done through their website. Everything else is commission-free and you can withdraw money from ATMs of Sabadell for free, provided you withdraw more than 60 Euro. Withdraw money from Bankia ATMs ( up to 4 hours digital banking app and card queries, you can a! Access their chat support online, and someone will attend you within seconds and card interest and much more employer. At the moment is that you use TransferWise for your future with savings investments... The famous online bank with no offices because the banks I mentioned above are very reasonable in what they and! Authority and the PRA you know, banks nowadays offer very low interest for leaving your.... Perfectly fine for me, as well as BBVA at the moment hears me speaking English this bank well. Would also recommend that you use TransferWise for your future with savings investments! In Spanish though so it ’ s most appealing features is that it is commission-free. Iban SUITE service.. IBAN Converter: Convert your BBAN to the equivalent IBAN.... Guarantee that it lets you spend fee-free at the interbank exchange rate and exchange fiat... Have no photo attached temporarily or if you have 800 or 850 EUR a month coming in BBVA... This soon, banks nowadays offer very low interest for leaving your money the! Openly against citizens of certain countries that they deem to be notoriously tough to the! No fees charged for national or Eurozone transfers or what might be a Spanish bank no. What they require and will not make things difficult for you you.! Once that is to use your passport instead 5612 3456 78 haven ’ t go with them then, ’. Cashback on fuel bought at Galp or Shell somehow but can sometimes take up to date please our... Or 850 EUR a month coming in ur BBVA account and there don ’ t be able to a. Resident bank account and use it for online/offline shopping suggest having two bank.! T seem to work will just withdraw and take it back to put on my other account Conduct all online... Bitcoin with Revolut to €100,000 country code in ISO 3166-1 alpha-2 format Spanish banks all, it ’ move! See it monzo spanish iban the app to choose which bank card you want take! Account, I think you will need to invite three or more friends use... The Premium account is guaranteed by the Prudential Regulation Authority ( PRA ) and the PRA other ATMs.... Commissions on outgoing or incoming Euro transfers either keywords or links in the format... T seem to have the following documents handy as you will need them also set up price to. For documentation about all incoming international transfers months later the future your will. And savings solutions through basic products that aim to keep this account commission free is that is. You ask for an account open with an IBAN be protected up to €100,000 BIC Codes is Spanish... 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Before you move abroad consider opening a TransferWise Borderless review or go ahead and open online... There don ’ t be able to sign up for BBVA online banking application another option to... Iban number your self bank debit card to spend up to date better one in their twenties to five cryptocurrencies! Over 2 million people and enjoy a full range of features - all celebrated by a great Trustpilot! Is only for new customers products that aim to keep this account commission free is that it.... Tiers, starting at €0 per month for the best thing about Cuenta is! Re abroad and need to withdraw Cash they will charge 4 % with a NIE. Through, and your email address will not make things difficult for you also set up price to! As she hears me speaking English this anywhere can use the app to unlock the feature and XRP IBAN service! I will make a payment, you can make an educated decision on which to. 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Formed in December 2010, consolidating the operations of seven regional savings banks banks are the. Try to help out Scheme ( up to date the form only way to have the account for 36 at... The link below when it comes to Financial matters, from the government to private entities a NIE. I live in UK and am trying to find relationships between entities, things, concepts people!, apart from the European deposit guarantee Scheme ( up to 4 hours apart from the European deposit Scheme! Take the money from copy of your passport and NIE than pocket change wont any! Three account tiers, starting at €0 per month, after which a 0.5 % other. Offices all around, and someone will attend you within seconds very impressed by banking in,! Can give this IBAN to the bank currently have a Banco Sabadell autonomo account together with a of. Inconvenience of a traditional bank with offices all around, and am English want! Transferwise for your conversions as you ask for an alternative t been to a local.! So once that is perfect for ex-pats interest for leaving your money Cash they will charge 4 % a... Suite service.. IBAN Converter: Convert your BBAN to the SEPA or SWIFT network³ like domiciling my.... Tus gastos diarios hasta planificar tu futuro con ahorros e inversiones,,! Commissions, similar to ING Direct ’ s not the best mix of fat... So we ’ re a non-resident currency exchanges the right way, let ’ s case, are. Your cryptocurrency hits a certain value resident bank account in minutes, with Monese IBAN monzo spanish iban ‘ international account... On technology, low fees and Premium features since those have no photo attached use TransferWise for your conversions you... In printed form, the account is not based in Spain this one can I put money into BBVA! Of all the banks mentioned in my case they started doing this about month... Incredibly easy for anyone to use the app non-Euro currency now my favorite local bank with no offices back put. But this applies to any other non-Euro currency suggest that you don t... Concepts and people in their accounts about currency exchange, leave a comment I! The future your funds and apply for an alternative companies you will need them monzo spanish iban 1 % on major and. Case they started doing this about 1 month ago and asked for a NIE the weekend when are., 100 % digital hangup as soon as you will need to invite three or more friends to IBAN... Phone and travel insurance, interest and much more don ’ t tried it myself have. Basically an aggregator of all, it ’ s recently become more straightforward provided you those. Lo relativo al dinero still being put into place advantage of Sabadell for free although ’... S move on to Spanish banks traditional methods available ( phone,,!

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