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Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 10:47 am
by PGA
Hi all,

Another newbie question. I already have a Euro based account but its a UK based account rather than in Spain. Deposits are held in Euro, however, and it has the usual IBAN numbers etc.

For the purposes of paying direct debits and the like in Spain, will this be sufficient or will I have to still go through the full process of an additional Spanish account?

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 4:42 pm
by jpeg
should have no problem as the law was changed this year to enable you to use any EU banking service

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 5:49 pm
by PGA
Great stuff - useful to know. Be nice if I don't need to have the expense/hassle of running a Sabadell account in addition, especially as its linked to a Sterling account so I can move money between at the bank exchange rate.

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 6:46 pm
by shemarg
One thing i would check PGA is the bank exchange rate - I’ve always found UK banks to have lower rates

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 7:47 pm
by PGA
shemarg wrote:One thing i would check PGA is the bank exchange rate - I’ve always found UK banks to have lower rates



I shall do - thank you. Still finding my way around all this information and how to benefit from the best rates etc. I had assumed that interbank rate between a Sterling and Euro account with the same bank would be better than sending from UK bank to Transferwise and then Transferwise on to Banco Sabadell/Spanish account. Or UK account direct to Spanish account without Transferwise in the middle.

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 9:02 pm
by Curious
That sounds interesting. My local bank in Quesada has closed and the nearest branch is near Torrevieja which I’m not happy about as it’s no longer on my doorstep. I am wanting to change banks and this would be an ideal time. Would you mind Private messaging me the name of your bank as if it works from the UK it would be absolutely brilliant. TIA

Re: Euro bank account but based in UK - sufficient?

PostPosted: Wed Jun 20, 2018 9:57 pm
by PGA
PM sent Curious.

Re: Euro bank account but based in UK - sufficient?

PostPosted: Thu Jun 21, 2018 6:44 am
by tinak
Could you also PM me please PGA? TIA

Re: Euro bank account but based in UK - sufficient?

PostPosted: Thu Jun 21, 2018 7:03 am
by Ron Hill
And pm me too please

Re: Euro bank account but based in UK - sufficient?

PostPosted: Thu Jun 21, 2018 7:57 am
by Hillbilly1
PGA please PM me too, I am very interested in your UK banking option instead of using Spanish bank.thanks from Hillbilly1