Bank accounts for Spain and portugal

Discussion in 'Motorhome Chat' started by Northernraider, Nov 28, 2017.

  1. Northernraider

    Northernraider Funster

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    As my departure grows nearer one of the things I've not sorted yet is my bank account.

    How do people travelling long term in Spain etc access their funds without incurring loads of charges and conversion fees ?
    Normally when I'm just away a week or two I carry my euros in cash but I can't do that for a years travel.

    I bank with bank of Scotland at the minute
    Any recommendations?
     
  2. tonka

    tonka Funster Life Member

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    Have Nationwide current flex plus account..
    Put my card in the Spanish hole in the wall. Take out Euros thingys.. Sorted. No fees..

    OK, a fee of £13 a month but.
    European breakdown cover, up to 7.5t and 8mtr so includes motorhome.
    Travel insurance (limited days but handy for some trips)
    Free withdrawals
    Plus several other benefits.. Keeps some cash in the account and pays 5% interest so that pays some of the fees.
     
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  3. chaser

    chaser Funster

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    Halifax clarity(y):)
     
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  4. denisejoe

    denisejoe Funster Life Member

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    If you're only travelling in Spain then a Santander debit card has no fees. Also the Zero credit card has no fees as long as you pay in Euros and not pounds.

    Denise
     
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  5. Northernraider

    Northernraider Funster

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    I currently pay 15 a month for my account but I don't want that , mainly as for this year I'm living off savings so there will be no income being paid in , the travel insurance is no good for my long-term trip I need different insurance for that, the breakdown cover I have already with my motorhome insurance so I no longer want to be paying 15 a month for an benefits I don't need

    But I do want to be able to withdraw euros from cash machines in Spain Portugal and gran canaria and pay for fuel etc with my debit card
    I had wondered if it was worthwhile me opening a Santander account and transferring the savings I'll be living off in to that
     
  6. magicsurfbus

    magicsurfbus Funster

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    I agree. Santander is the logical choice for Spain, given where Santander is - I'm pretty certain there's no charges for using their local cashpoints as well as the above benefits.
     
  7. davanne

    davanne Funster

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    Nationwide flex plus for us too:)
     
  8. Smith and Sharp

    Smith and Sharp Funster

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    You need the Revolut card, that’s all @JJ uses ..... I’m sure he’ll tell you about how good it is...

    It’s all we use...(y)
     
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  9. The Nomad

    The Nomad Funster

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    Just be aware that Santander bank in the UK is a totally different company to Santander bank in Spain.
    Same parent holding company, but they are completely different and separate operating companies.
     
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  10. JockandRita

    JockandRita Funster Life Member

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    Metro debit card for fee free withdrawals, and Nationwide credit card for fee free purchases....................paid off in full when the statement comes out. (y)

    Cheers,

    Jock. :)
     
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  11. Yorick

    Yorick Funster

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    We have a Caixa bank account (Spanish). They have a special account for Johnny forriner. Stick some dosh in that when the rate is good. No problemo :)
     
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  12. cantonalegod

    cantonalegod Funster

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    As previously stated Halifax Clarity...especially if you have a Halifax current account. As soon as the cash withdrawl appears on my app i pay it off! No interest and full bank rate!:)
     
  13. Minxy Girl

    Minxy Girl Funster Life Member

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    Credit cards: a Halifax Clarity credit card and/or Aqua credit card (which pays 0.05% cashback) with no charges for using it abroad for purchases.

    Debit & cash cards: for ATM and general spending a Revolut* pre-loaded card and a Sterling Bank debit card (pays you small amount of interest on account balances), both of which allow fee and interest free withdrawals abroad (*2% fee if you take out anything over €200 pcm with Revolut).
     
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  14. matamoros

    matamoros Funster

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    The Revolut is not the best for euro cash withdrawals as the fee free limit is €200/month but is definitely best for conversion rates and use as a debit card.
     
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  15. Minxy Girl

    Minxy Girl Funster Life Member

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    To be fair though the better conversion rates pretty much pays for the 2% fee anyway.
     
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  16. StephandJohn

    StephandJohn Funster

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    Caxton card. We load it with euros before we go and can carry on loading it from our Santander 123 current account as we need to when abroad.
     
  17. BreweryDave

    BreweryDave Funster Life Member

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    Easy to open a non-residents account in Spain, then transfer funds as and when it suits you or when the rate is better. Probably best to find a branch in a 'tourist' or ex pat favoured area for the best chance of English speaking staff. No need for a Spanish address, uk address is suitable. May need an NIE number but easy to get.
    I use TransferWise every month or as and when needed, from uk bank where money is held direct into Spanish account, easy to use app, good rates and all done at the touch of a button. You then have a € account so no need to worry about the various cash cards out there, and can use the debit card all over €land with no charges, except small ATM fees if at a different bank. And no exchange rate worries.
    TBH I don't know why more snowbirds don't do it!!!

    https://transferwise.com/i/davidh806
     
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  18. TeeMyob

    TeeMyob Funster

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    Nationwide for us.

    But Also have Santander Spanish and UK Accounts. Problem with Spanish 1-2-3 Accounts (Cuenta 123). You have to be a permanent resident. Banking can be very expensive in Spain.
     
  19. JJ

    JJ Funster

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    REVOLUT

    (If you are a couple... get one each... €100 a week totally free and 2% after that on CASH only.)

    Use the card for buying stuff free of charges... and at inter bank exchange rates.

    There are SO many other advantages as well...


    JJ :cool:
     
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  20. Northernraider

    Northernraider Funster

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    Thanks for the info I'll go look at some of these options
     
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