Attention: The enclosed listings and general information
provided are for informational purposes only. Our company is not
responsible neither for the quality of the service nor the fees
charged by the professionals or companies that appear in this
document.
BANK ACCOUNTS
Banks, Accounts etc. Banks
In Barcelona there is almost literally a bank on every
corner.There are large Spanish banks such as BBVA, Banco
Santander Central Hispano (BSCH), Banesto , Banc Sabadell etc,
and foreign banks such as Barclays and Deutsche Bank which also
have many branches.
There is also a plethora of savings banks (Caja de ahorros;
Caixa de estalvis in Catalan.) The largest of these, with a
massive branch network, is La Caixa, with Caixa de Catalunya
being the second-largest. Both of them also operate a cultural
foundation and in their branches offer a wide range of services
(such as ticket-booking) in addition to the banking ones.
The Banking Services offered by the
banks and savings banks to private customers are all very
similar. Before choosing a bank enquire at several to compare
things like interest rates (for mortgages and loans) and charges
(there is normally a charge for running an account, apart from
charges for some transactions, for credit cards etc). You could
also ask colleagues for personal experiences/recommendations.
Note that while in most banks you will get a cash-card
automatically, in La Caixa for instance you are issued only with
a passbook initially (Cuenta Libreta a la Vista).
All the banks have websites in Spanish; Banc Sabadell also has a
complete version of its website in English:
www.bancsabadell.com
Opening times:
Mon.-Fri. 8.30 am – 2 pm (Some are open at 8.00 or 8.15am)
Additional Opening: Savings Banks (Caixas) Thursday afternoons
till 7 or 8pm (Oct- May)
Banks: Saturday mornings. (Oct- May)
In the centre of Barcelona the banks’ main offices (usually on
or near Passeig de Gracia) are open during the week until approx.
4.30pm.
International Banks
As mentioned above, Barclays and Deutsche Bank have a
developed branch network in Spain. Lloyds TSB has several
branches in the city but not national coverage on any scale.
Citibank also has several branches. Halifax has one branch/office
in central Barcelona, as do HSBC, the French and Swiss and some
other foreign banks. Look in the Barcelona City phone book for
addresses.
Note that because of the Method of Payment
of Household Bills in Spain it is vital to open a bank
account immediately. Bills for gas, water, electricity,
telephone, credit card, school fees, sports club etc are
deducted directly from your account. You receive a bill
(factura) from the utility company notifying you of the amount
together with the date it will be deducted.
When you apply to the utility company or other service provider
you are normally asked immediately for a bank account number.
Because of different banking regulations for accounts for
residents and non-residents you may have one type of account on
arrival and have to change when you receive your residence
permit. Then you simply notify the utilities etc of change of
account number.
Requirements for opening an account as
non-resident
You are only required to show your passport/identity card
and to deposit a (small) sum of money
Requirements for opening an account as
resident
Once you have residencia you have the all-important NIE
(Número de Identificación de Extranjero) which identifies you
for fiscal and other financial purposes (The Spaniard’s number
is the NIF= Número de Identificación Fiscal)
With this number the bank will process your application for an
account as a resident.
It would be advisable to take also your employment contract or a
pay-slip.
To obtain a credit card the bank would
normally require your salary to be paid in there and would not
issue one within the first month or two. The credit limit would
be low at first (e.g.600 Euros, previously 100,000 pesetas). In
any case credit limits are in general much lower than those
offered in Britain.
Cash-cards and chequebooks
The card for the cash-machine/ATM is normally applied for
automatically on opening the account and is then available
within a week. You usually have to collect it from the branch,
rather than its being sent by post. The PIN number may be sent
by post. You can change the number through the cash-machine if
you wish. You can also ask for a cheque book (talonario),
although bear in mind personal cheques are used very little in
Spain.
International Transfer of Money
Only non-residents may hold accounts in foreign currency.
Transfers to the value of 50.000 Euros or more must be reported
by the bank to the Banco Central.
In the case of residents the limit is 6000 Euros. The British
Consulate advises keeping records to show the money transferred
has not derived from income in Spain (if it is from an
inheritance abroad, for example)
Within the Euro-zone there is (obviously) no exchange charge.
For dealings with pounds, dollars and other currencies the
fluctuations in the exchange rates still apply and there is a
charge for transactions involving foreign exchange. In addition,
and in all cases (incl. Euro-zone), there is a charge to send
money abroad/receive money from abroad. These vary considerably
from bank to bank (but are never cheap and to be avoided if at
all possible).
Transfers are normally made using SWIFT which should take a
maximum of 3 working days.
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