Since April 2019, N26 gives its Spanish users a Spanish IBAN account, so you will be able to use the bank for any direct debits as you would use other Spanish bank accounts. The purpose is to have an extra bank account and use it for online/offline shopping. 14 February 2017 12:46 #13. news.revolut.com Revolut. Their website is available in multiple languages including English. as far as I know, Santander offers a non-resident account. The website is only available in Spanish though so it’s mostly targeted towards Spanish people. Example usage of calculator for United Kingdom: choose country United Kingdom (UK) enter Sort Code - 200415 and account number - 38290008. This means that if you open a current account with Revolut in the future your funds will be protected up to €100,000. It’s a valid alternative to investing in index funds and like I said these kinds of platforms are already extremely popular across the Atlantic. For example, if you make a gym subscription, or if you sign up for private health insurance, you will need to provide your bank details, and you need to give a Spanish IBAN number. Monzo Premium: Banking that makes a statement Turn heads with our white metal card, made from steel. Jean Galea is a dad, amateur padel player, host of the Mastermind.fm podcast, investor and entrepreneur. If you want to carry out all your transactions quickly, wherever you are, use CaixaBankNow digital banking (our online banking service), at your disposal in 22 languages, 24 hours a day and 7 days a week. Perfectly fine for me, as I find it way more comfortable doing everything online. Calling the helpline number doesn’t help because the operator will literally hangup as soon as she hears me speaking English. Does anyone know if a Revolut account can be used as proof of funds? They mailed me as they saw I had applied and didn’t finalize the process, I answered then 2x on that, but no reply. Browse the Swift Code / Bic Code listings by choosing the specific country starting with "U" below and look up any bank and / or its branch.. I wonder if you could help? Other country guides: How to open a bank account in the US, Canada or Australia as a non-resident. You can use your Self Bank debit card to withdraw money at no cost from more than 9,500 CaixaBank ATMs around the country. Then you will need to make a transfer to your new account, and within 5 days the account will be active and ready for us. It is basically an aggregator of all the savings account offerings across Europe. Our Financial Services Register … julien 1 September 2016 08:05 #12. The language used is easily understandable by the younger generation, who will most definitely find this account to be one of the most straightforward and easy-to-use among all the options available in Spain. IBAN Structure & Examples In just a few letters and numbers, the IBAN captures all of the country, bank, and account details you need to send or receive money internationally. BBVA Cuenta Online – this is Only for new customers. Any help would be greatly appreciated. I have lots of content on that subject as well on this site, and a good place to start from is my post on the best property investment platforms in Europe. You get your own free local bank account details in Europe, UK, US, Australia and New Zealand so you can have a local bank account before arriving. Allows non-Monzo users to make bank transfers dirrectly into your account based on The IBAN calculator is part of our IBAN SUITE service.. IBAN Converter: Convert your BBAN to the equivalent IBAN Number. One app for all things money. Having said that, since there is no cost to signing up to and maintaining a standard Revolut, I would still recommend having it, especially since you like to travel. They have a weird policy of letting all incoming transfers in, then suddenly asking for documentation about all incoming international transfers months later. The focus is all on digital and the idea is that this account works in all the ways young people need it to work, with none of the stodgy practices of the traditional banks. Before you move abroad consider opening a TransferWise multi-currency account. I haven’t been to a bank in years myself, so I much prefer these digital banks. Monzo Bank Limited is a company registered in England and Wales (No. You can make fee-free currency conversions up to €6,000 per month, after which a 0.5% fee applies. Thanks again. The platform collaborates with many European collaborator banks, all of which count on the European deposit guarantee scheme (up to €100,000). I contacted some people within Revolut, but beside a very friendly conversation, I don’t have any solution regarding this issue, as keeping this account on the background instead of using it as a primary account. The traditional way would be to actually sign up to a bank in order to be able to access its savings products, which is incredibly more laborious and harder for the customer to compare offers between banks. For example, if you want to make a transfer, you would do it online rather than visiting the branch and asking them to do it for you. They are truly incompetent. Wizink is a bank specialized in credit and savings solutions through basic products that aim to keep things simple for its users. Every country will have a different IBAN length. I’m a dual Polish/Canadian citizen (resident of Canada) in Spain for a year or more (or forever) and I’m having a difficult time opening a bank account here. That’s it. IBAN (which stands for International Bank Account Number) is an internationally agreed code made up of up to 34 letters and numbers which helps banks make sure that international transfers are processed correctly.. ING Direct used to be my favorite local bank, but as of April 2019, I would recommend N26 above ING Direct. Their website and documentation are only available in Spanish, so I wouldn’t recommend this account if you’re not very fluent, especially since everything is done online. This bank is also commission-free and 100% digital. The ING Direct web and mobile interface is great, and they have a good portfolio of related services such as Broker Naranja for investing in the stock market internationally. You’d have to use your passport instead. I have tried phoning Customer Services but as soon as I ask for someone who speaks English the call is terminated. Revolut’s aim is to make cryptocurrencies accessible. 09446231). ‎Open your mobile money account in minutes, with Monese. I found a way around the fees being charged. Others may have stricter policies, and they might reject your application without providing any specific reasons. I have lived in 6 other European countries and I have to say that Spain has the worst banks I have seen (in terms of hidden fees, lacking customer service, and doing simply dumb things like blocking a transfer or an entire account for no reason whatsoever). I really hoped I would get around it somehow but can’t. With these papers in hand, you can then ask for a UPS courier to collect the documents at your convenience and at no charge. I speak fluent Spanish, so that’s not a problem. I tried to look at the above link to Sign up for BBVA online but the link doesnt seem to work? Calling customer service and as soon as you ask for an English agent, the call is cut off. If you have any questions about currency exchange, leave a comment and I’ll try to help out. However, you have to hold a Premium account or higher to access the cryptocurrency feature automatically. Their Cuenta Expansion, as I mentioned, requires a 700 Euro movement every month, else you will get charged 4 Euro commission per month. IBAN: validate IBAN, show BIC : If a digit or two are unknown, enter question marks instead (e.g., DE12500?0?170648489890). Regarding N26, I opened an account with them but then read a bunch of really scary reviews on trustpilot according to which N26 froze people’s accounts for no reason and did not reply to client requests to have them unfrozen. It’s decent enough, don’t get me wrong, and most banks have very good online systems and apps, however, support and compliance can get very frustrating. Ok, now that you now know how to do currency exchanges the right way, let’s move on to Spanish banks. Great information here. Try it now, it is free! Update June 2018: I no longer recommend this bank due to the various reports of multiple charges that are now associated to having accounts with them (see comments section). I prefer ING Direct’s and BBVA’s interface, related services and also their facility of withdrawing from other ATMs commission-free. Keep in mind that banks do discriminate openly against citizens of certain countries that they deem to be on their “blacklist”. Thanks for this fantastic information. You can’t really go wrong with BBVA if you want the extra peace of mind of having your money in a Spanish bank. An IBAN is an internationally agreed code of up to 34 letters and numbers that identifies a particular bank account. Also, minus points for N26 for not even making any mention of this anywhere. What’s more, it’s incredibly easy for anyone to use cryptocurrencies such as Bitcoin with Revolut. It’s a hassle having many cards in your wallet. ES If you get stuck, you won’t be able to visit a local branch and hope that someone there speaks English. Very disappointing and stuck without solution. If you’re abroad and need to withdraw cash they will charge 4% with a minimum of 4 Euro. With linked accounts. Accept payments dirrectly into your Monzo Account; Allows any merchant using Monzo to make payments dirrectly into your account. Need to give this to employers. When an IBAN is used to make and receive online payments it should not contain blank spaces or the word "IBAN". You will need it for several things, most importantly for paying your monthly rent. thanks. They will also give you special discounts at certain shops and 3% cashback on fuel bought at Galp or Shell. The famous online bank Revolut is also available to residents of Spain. It’s quite maddening because they typically don’t even know what they need, they just ask you for documentation for everything, which of course can be incredibly time-consuming to retrieve given that some transfers might have been done years ago. Similar to you, my employer is not based in Spain. If you own min. Banks are on the lookout for money launderers and have very strict parameters within which to operate. Everything else is commission-free and you can withdraw money from ATMs of Sabadell for free, provided you withdraw more than 60 Euro. Evo Banco was one of the pioneers of the digital banking revolution in Spain, so it is a good option if you are used to conducting all your banking online, but not so good if you like being able to walk into your bank to conduct transactions. Making a bank transfer. Take a look at my results (above 10% returns) investing through the Mintos P2P lending platform, it’s been excellent so far. If I get this one can I put money into a BBVA branch? or what might be a way to be able to sign up? If you already have another bank account in Spain and you’re opening another bank account in Spain with a local bank: If you’re opening an account with one of the digital banks: The digital banks (Revolut, TransferWise and N26) only require basic identification to open a bank account with them. For all account tiers, Revolut gives you a free IBAN account, a free UK current account and a bank card so you can spend your money. The current account SIN NOMINA is commission-free provided you keep a minimum balance of 2,000 Euro in the account. A debit card is also available once the account gets opened, but my question being very specific to know if there are any criteria or conditions to be met in order to not charge clients a fee for the debit card and the account. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Incredibly useful for those of us who have many debit and credit cards. I have been with ING for 5 years and can fully corroborate your experience regarding them blocking incoming transfers for no reason. Do you recommend the BBVA online one? Is this the way to treat customers & is it reasonable that the only way to contact them requires fluent spanish. You might want to check which companies you will need to work with and decide accordingly. Transfers should happen instantly, but can sometimes take up to 4 hours. I find these practices extremely insensitive and unprofessional and cannot recommend this bank any longer. Every country will have a different IBAN length. IBAN –  ‘International Bank Account Number’ and is a standard way of identifying banks across different countries. Your IBAN being in the right format isn’t a guarantee that it exists. I suggest that you use TransferWise for your conversions as you will save a ton of money versus any local bank. Browse countries starting with letter "U" and find your banking swift code. That’s because the banks still use an old system to exchange money. Let’s talk about some of the most common words used in Spanish banking. In light of the recent announcements by Spanish banks ie. Before you make a payment, you can use the app to choose which bank card you want to take the money from. Thanks Jan, I won’t go with them then, let me know if you find a better one. I think it is something really worth mentioning as it really renders the possibility of using it as a primary account practically useless. I didn’t read the whole article I must say but IO cam here because my bank Banco Sabadell is charging me .80 cents for each transaction even if I pay for a metro ticket or parking which can be as low as €1. I have tried contacting many other banks, including BBVA, where I had all the requisites – NIE, spanish property (address) etc but lack a spanish telephone number. The big advantage of Sabadell is that it is a very stable local bank with straightforward and professional procedures. The same thing applies if you have an iPhone and want to use the Spanish app store; you need a Spanish debit or credit card. This means that if you use the N26 account for your taxes and SS, it will be impossible to collect benefits such as paro, ERTE, parental leave, possibly even pension. Hi Jean – fellow Maltese in Spain here. I am very happy with the service they provide and the application is excellent, even allowing you to aggregate other banks’ accounts into the BBVA app for your convenience. It’s another great option for a backup account, and you can also use the brokerage facilities which are quite decent if you operate regularly on the stock market. On the other hand, Bankia offers its website in English and Spanish (apart from Catalan and Valencian), so you can find all the information easily. Use Entities Finder to find relationships between entities, things, concepts and people. I find it extremely convenient to be able to access all these investment products in one place. I added money with my linked bank account, but I can't see it on my account in Revolut; Can you do anything if I have a problem using my linked bank account to add money? This is now my favorite local bank in Spain. Your N26 account with Spanish IBAN. Banc Sabadell is the best mix of a traditional bank with offices all around, and a good online service. Their customer support is only available via phone (long waits) and usually turns out to be quite incompetent, barely able to answer basic questions. You can spend in over 150 currencies at the interbank exchange rate and exchange 29 fiat currencies. If I apply to N26 will I be able to use it in UK and Spain when UK leaves the European Union without a deal. Hi Jean, The transfer is free anyway, so then I wont have any fees charged. Let’s move on to Bankia now. I think that with Spain being Spain, if your finances are based in the country (which is something you will need to do if you’re here for the long haul) I would still opt for a Spanish bank, even if the service and system is not always ideal. Make sure you make a list of things that are most important to you, then start your search by visiting all the sites of the local banks. However, at the time of writing, this was still being put into place. Now that we have the option, I recommend opening an account with N26, which is a new breed of bank that is totally app-based. From your everyday spending, to planning for your future with savings and investments, Revolut helps you get more from your money. The IBAN structure and compliant formats are defined in ISO-13616-1. Because of these reviews I am rather reluctant to use the account for anything other than pocket change. We’re a licensed bank, 100% digital and secure. You will no doubt have your own requirements for bank accounts. This rises to 2% on weekends. I would always suggest having two bank accounts in place just in case conditions change with your usual bank. Most of Rebellion’s native customers are students, so another helpful feature of having a Spanish IBAN is that they can now use their account to enter scholarships, as well as receiving monthly payments from the bank of mum and dad because one IBAN can be paid to another IBAN. They’re of course a well established Dutch multinational bank and they have subsidiaries in many countries. The next 2 characters ("KK") specify the check digits, used to confirm integrity of the code. I work in Spain as an autonomo and I currently have a Banco Sabadell autonomo account together with a secondary N26 account. Monzo does say that the payment might take several days, or may not reach your account at all. Banc Sabadell is one of my favorites, if it weren’t for the requirement to make a monthly inbound transfer of at least 700 Euro to keep the account commission-free, I would probably have opened an account with them instead of ING Direct. I have a BBVA account and there are no maintenance fees nor minimums for deposits. I have been a customer with bbva for 16 years and I am disgusted and looking to change banks. Hi Jean, anon33247966. A foreign account is good enough for proof of funds to get the NIE. Was that your predicament? When you send or receive an international wire with your bank, you might lose money on a bad exchange rate and pay hidden fees as a result. Keep in mind that terms can change at any point with Spanish banks, so you’ve got to be on the ball and read any communication they send you. Desde tus gastos diarios hasta planificar tu futuro con ahorros e inversiones, Revolut te ayuda a sacar más partido a tu dinero. Hello Jean Thanks a lot for the clarifications! Their savings account offers 0.5% interest. The downside of international transfers with your bank. They might also ask for things like your rental contract, statement from your foreign bank, tax statements from your previous country of residence etc. If too much money in the account, I will just withdraw and take it back to put on my other account. Every IBAN has two check numbers following the country code. Please remove this comment to prove you're human. Spain is one of the most incompetent countries when it comes to financial matters, from the government to private entities. They have also blocked many clients’ accounts even during the sensitive Coronavirus crisis times, piling more difficulty on families when they should be helping alleviating the burden. 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