Mon, 28 May 2012
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| ISEQ 20 | 500.94 | 1.55 |
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Here's a short introduction to our Banking section for those living in Spain, from what to ask the experts to opening a Spanish bank account.If you're an expat, you'll need to open a bank account abroad. The paperwork associated with expat banking can be a hassle at first, but it often eliminates the fees associated with withdrawing cash from back home. We've got some tips to help you out.
Overseas savings accounts also give you quick access to cash and a face-to-face relationship with local financial advisers who can help you with international mortgages and other loans. Different countries have different rules on foreigners' accounts, so check out 'How to open a bank account in Spain' to learn more.
Choosing a local bank
Before you open an expat bank account, make sure that you know who owns the bank, its credit worthiness and which jurisdiction it falls under. As one of our experts advises: “In light of recent turbulence in the banking sector, you need to know if your bank deposits are protected by any government scheme. Each jurisdiction has a different position on this, and offshore accounts in particular should be checked.” Also have a look at our Expart tips on topics like getting a decent return on your savings.
Keeping up-to-date
Expatica’s banking channel keeps you up-to-date with news from the financial world. Articles cover everything from the local and worldwide economic climate to mergers and acquisitions in the banking sector to the basics of choosing a Spanish bank.
Ask the expert
Expert articles include the most cost-effective ways of transferring money abroad and choosing a bank . Make use of our Ask the Expert section to pose your questions on your specific needs as an expat. Questions answered by our experts include: “How can I open a bank account while I am in Europe?” and “What is an IBAN number and where can I get one?”
I think your information is very useful and complete.
However, it should be pointed out that Spanish banks will almost always insist on an "N.I.E." number (Foreigner's Identification Number) when opening an account.
For anyone interested in knowing how to go about getting this "N.I.E." on arrival should contact me on: 91-531-4783 or at: richardinmadrid@gmail.com . I can give you the best advive on obtaining the "N.I.E." as fast as possible. I am based in Madrid and help newly arrived EU passport holders on all types of bureaucracy.
I look forward to hearing from anyone seeking help.
why about people from the states who want to reside in spain.getting an NIE is much more involved for us...the visa process..i have to get clearance from the F B I which took five weeks...then purchase travel insurance..then get someone who lives in spain to say you stay with them
and provide a letter ..OMG ..im so nervous to b turned down after all this
I think your information is very useful and complete.
However, it should be pointed out that Spanish banks will almost always insist on an "N.I.E." number (Foreigner's Identification Number) when opening an account.
For anyone interested in knowing how to go about getting this "N.I.E." on arrival should contact me on: 91-531-4783 or at: richardinmadrid@gmail.com . I can give you the best advive on obtaining the "N.I.E." as fast as possible. I am based in Madrid and help newly arrived EU passport holders on all types of bureaucracy.
I look forward to hearing from anyone seeking help.
why about people from the states who want to reside in spain.getting an NIE is much more involved for us...the visa process..i have to get clearance from the F B I which took five weeks...then purchase travel insurance..then get someone who lives in spain to say you stay with them
and provide a letter ..OMG ..im so nervous to b turned down after all this
Expatica's Getting Started section will provide practical information on how you can open a bank account, exchange your driving licence, improve your Spanish, and more.
Here's a guide to an extensive list of groups and clubs in Madrid for expats, from sports groups to social and family gatherings.
A brief introduction to our Tax section for Spain, from help with inheritance tax to accounting advice.
Here's a short introduction to our Banking section for those living in Spain, from what to ask the experts to opening a Spanish bank account.
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