How can I change Banks?

Hi Everyone, I am sick and tired of both Bankia and now Caixa Banks and there ridiculous charges. I really want to move my bank to say another without any charges such as Wise but really don't know where or how to start. Does not help not having a good master of the Spanish language and I know it is very easy in the UK to change Banks but in Spain I am worried about moving my direct debits manually due to the aforementioned reasons. Can anyone help me please preferably with an idiot proof way of moving my account. Many Thanks, Phil

Sign up to an account with Wise. You can use this link if you wish https://wise.com/invite/asd/paulu119

The long-winded way is then to visit each of the suppliers you have direct debits with and give them your new euro account IBAN and ask them to switch you. All the main ones will be able to that without any need to speak Spanish. If you have any automated receipts, pension etc, you will need to advise them too.

Alternatively pay your gestor to do it for you as they can just do it all by phone or online.

Then withdraw your money and close your bank account.

Just do as you would in the U.K., go into the bank you want to move to, ask them about fees and how to keep it fee free, then ask them about moving your DD’s. And they will tell you the answers. It’s that simple. No one else knows your financial situation or what your are happy to do, so it’s impossible to say which bank you should go to and which might have a system you like.
I speak barely a word of Spanish, it’s impossible for me to communicate with anyone without me looking like I’m having a game of charades, and I’m non-res. But I have a bank that is fee free, and the way I’ve set it up with Wise, means I get everything free. So do the leg work. Fee free is out there, at at least two that I know. Santander is one, and cajamar is another. They have the usual hoops to jump through, but once set up, you are plain sailing. Good luck.

Had nothing but trouble with Bankia caxia myself.Systems are a joke.You have to wait an hour to talk to someone and my account has been locked for a month through no fault of my own.4 times they told me its unlocked.Go into the bank twice and their systems dont work and wont accept my residency first letter.I am fuming.Never in 35 years in UK did i ever have a problem.

Thanks for taking the time to answer me and yes I have had a wise account for a while just don't feel confident enough to get in touch with the direct debit companies without getting stressed out. What is a gestor? Think I would rather pay as long as its not alot

Larrydavid wrote:Thanks for taking the time to answer me and yes I have had a wise account for a while just don't feel confident enough to get in touch with the direct debit companies without getting stressed out. What is a gestor? Think I would rather pay as long as its not alot

A gestor is just someone who deals with Spanish bureaucracy on behalf of private individuals, so this could be residency, taxes, driving licences etc. They are not lawyers, but can deal with most administrative matters. So whoever administers your taxes now, for example, should be able to help.

I’m puzzled, maybe I’m missing something, I wasn’t aware you need to contact any company. You go in to the bank, make an appointment to speak to an English speaking operative. You hand over the account numbers and sort codes for the DD’s of companies u want to set up, and the operative sets them up for you there and then. This is what I did anyway. if that’s no help then, as much I’d love to help give you the right answers, sadly I’m not sure what info I can offer you. I wish you luck.

daz wrote:I’m puzzled, maybe I’m missing something, I wasn’t aware you need to contact any company. You go in to the bank, make an appointment to speak to an English speaking operative. You hand over the account numbers and sort codes for the DD’s of companies u want to set up, and the operative sets them up for you there and then. This is what I did anyway. if that’s no help then, as much I’d love to help give you the right answers, sadly I’m not sure what info I can offer you. I wish you luck.

He wants to set up direct debits on his existing Wise account. This is not a bank and has no branches. So he needs to tell all his suppliers he wants them to use a different (Wise) account. As he doesn't feel confident enough to deal with Iberdrola, Hidraqua etc himself, the next best thing is to ask a friend for help or pay someone to do it for him. Either way it will be cheaper than continuing to pay bank charges at Caixa / Bankia. There are banks that have fee free accounts if you go 'online only' or meet other criteria, but as he already uses Wise that seems to be the solution he prefers. Yes, he could go to BBVA or Cajamar etc and do what you say too.