Re: Bank deductions????
Posted: Wed Mar 08, 2017 12:38 am
GrahamR wrote:We stay in Spain about 3-4 months a year. We were with friends tonight and talking about this subject. I am thinking of converting from a joint account at SabadellCam to a single account.
1) we pay EUR 25 each a year for a debit card (just to take out our own money).
25 is quite expensive. Note the comments Jan made, though, on one card not working.
2) every two years we pay for non residents declarations. We should be able to halve that.
You would still have to pay for a non-resident certificate, I believe. Cheaper than the bank charges but you still have to declare non-residency status.
3) then there seems to be some incidentals.
On another point, we took out house insurance cover for about EUR270 with the bank. I got a much cheaper quote elsewhere but apparently I was supposed to give the bank 2 months notice. So if u shop around make sure u give the bank plenty of notice.
The law in Spain has recently been changed to only give one months notice to close an account for insurances etc. Always best to find the rules in a foreign country and not assume everywhere will be like UK.
As we do not have Sabadell credit cards, they are only using my money but I seem to be paying a lot of fees for the privelidge. I get excellent service from Sabadell but think it is worth the time to look at the costs and cut out unnecessary costs where you can.
In the U.K, I only pay a fee to Barclays of £11.50 per month to cover Car Breakdown, world wide medical cover and airline lounge passes. I do not pay for the use of debit or credit cards or any other fees.
Only £11.50 a month?
In UK you wouldn't be allowed to open a non resident account. Your fees are for being able to do so here in Spain. You are a resident in UK and you wouldn't get those fees if you were resident in Spain.
I hope this helps.