Best bank for Non Resident - Pre house purchase 2020

Mooseh wrote:

GLASSMAN wrote:if you transfer electronicaly large sums via Sabadell, to Sabadell, no charges ask your house seller or solicitor/abagardo who they bank with , could save you money, I think Sabadell do a free banking account for pensioners if you pay in over a certain amount per month,

So to confirm, if i moved a 25k euro amount from transferwise or currencies direct into a sabadell account i wouldnt be charged. But i may then be charged for making payment of a property purchase using my sabadell account?

GLASSMAN wrote:

Kenbo wrote:Mooseh

I have had a holiday home in Spain for 18yrs, once my Spanish bank account was opened there was something I had to accept, in Spain, generally speaking you will have to pay monthly or quarterly bank charges for them doing very little for you, ie, paying your direct debits for running costs.
Recently, some banks have hiked their charges further including my bank Bankia which I am in the process of closing.
I have moved my direct debits to Transferwise, there are no charges for running this account.
It would also be a good idea to consider them for moving your lump sums, they are a similar company to Currencies Direct but you will find them to be very competitive in terms of the amount of Euros that end up in your Euro account.

This would seem like a one stop solution, customer service is good, based in London, you could have a chat with them to see what they could offer.

I thought they were based in ESTONIA, were the company creaters are from,and have offices world wide,

Mooseh wrote:

Kenbo wrote:Mooseh

I have had a holiday home in Spain for 18yrs, once my Spanish bank account was opened there was something I had to accept, in Spain, generally speaking you will have to pay monthly or quarterly bank charges for them doing very little for you, ie, paying your direct debits for running costs.
Recently, some banks have hiked their charges further including my bank Bankia which I am in the process of closing.
I have moved my direct debits to Transferwise, there are no charges for running this account.
It would also be a good idea to consider them for moving your lump sums, they are a similar company to Currencies Direct but you will find them to be very competitive in terms of the amount of Euros that end up in your Euro account.
This would seem like a one stop solution, customer service is good, based in London, you could have a chat with them to see what they could offer.

Could i use transferwise for the complete process of buying and running a house or would i also need a spanish bank account?

Mooseh wrote:

Kenbo wrote:Mooseh

I have had a holiday home in Spain for 18yrs, once my Spanish bank account was opened there was something I had to accept, in Spain, generally speaking you will have to pay monthly or quarterly bank charges for them doing very little for you, ie, paying your direct debits for running costs.
Recently, some banks have hiked their charges further including my bank Bankia which I am in the process of closing.
I have moved my direct debits to Transferwise, there are no charges for running this account.
It would also be a good idea to consider them for moving your lump sums, they are a similar company to Currencies Direct but you will find them to be very competitive in terms of the amount of Euros that end up in your Euro account.
This would seem like a one stop solution, customer service is good, based in London, you could have a chat with them to see what they could offer.

Could i use transferwise for the complete process of buying and running a house or would i also need a spanish bank account?

Kenbo wrote:

Mooseh wrote:

Kenbo wrote:Mooseh

I have had a holiday home in Spain for 18yrs, once my Spanish bank account was opened there was something I had to accept, in Spain, generally speaking you will have to pay monthly or quarterly bank charges for them doing very little for you, ie, paying your direct debits for running costs.
Recently, some banks have hiked their charges further including my bank Bankia which I am in the process of closing.
I have moved my direct debits to Transferwise, there are no charges for running this account.
It would also be a good idea to consider them for moving your lump sums, they are a similar company to Currencies Direct but you will find them to be very competitive in terms of the amount of Euros that end up in your Euro account.
This would seem like a one stop solution, customer service is good, based in London, you could have a chat with them to see what they could offer.

Could i use transferwise for the complete process of buying and running a house or would i also need a spanish bank account?

Exactly, which is why I thought it would simplify things for you a little.
I have recently visited the utilities in Orihuela Costa to give them my Transferwise Iban number for future direct debits.
Iberdrola, Hidraqua and Suma all accepted this without issue so speaking of ongoing running costs then no, you do not need a Spanish bank account.
I know of people from Ireland paying through their own current account as they are in the Euro.

Kenbo wrote:Mooseh

I haven't gone through all of the t&c's but if you follow the link the information within alludes to transferring large amounts.
I am assuming that you would be employing a good Solicitor, transfer the funds into their account, never the estate agent.
I would recommend a chat with Transferwise, I am sure that you will find out everything you need to know.

https://transferwise.com/help/25/sendin ... etter-rate

yogi bear wrote:We completed our purchase in January. Our account was set up by SGM for us with Sabadell. On completion day we had to collect three bankers drafts for the from the bank. The charges for each bankers draft was 0.4% up to a maximum charge of 200 euros. It was arranged by SGM that all other payments i.e. Abogados, sellers estates agents fees and the retention fee held by our Abogados to cover any outstanding bills was transferred electronically with no charges. With regard to transferring monies over to our Spanish account we did this via transferwise as you can log on to the website and get the live transfer rate and see all fees clearly so you can watch the rate and decide when to transfer. We only transferred a max of £9990 at a time which was received in our account normally within 30 sec's. We did two transfers of larger amounts but found that these transfers were held up by our UK banks for security reason which did take up to two hours for one bank and the other bank I had to contact after two hours. Under £10,000 and the payments went straight through. Also got contacted by Sabadell on one occasion and ask to provide evidence that the funds were coming from our UK accounts as transfer had been made through transerwise's Belgium account and one through a Lithuanian account. This was sort by sending them a copy of the bank transfer to transferwise and the corresponding transfers receipt from transferwise.