View Full Version : Can anyone recommend banks in Tenerife with reasonable charges?
Our current Bank CAM was taken over by Sabadell and the basic charges are now being increased to €12.50 per quarter and €15 per card. We used to use Solbank also part of Sabadell but changed due to thier high charges. Can anyone recommend any banks that have better charges, and what are they?
Thanks
garlicbread
10-10-2012, 20:19
A lot of people on here criticise them but we've had a residents' account with Santander for 9 years with no problems. Debit cards are free, credit cards €12 per annum but ZERO bank charges
I am with BBVA no charges, and it is 14 euros a year for my debit card. I like this bank, friendly, efficient, and some staff do speak English too
Someone on Facebook has mentioned La Caixa that has an on line banking account that is totally free and includes 1 debit card, does anyone have anymore info on this one?
Just heard that you need to pay you wages or pension in to get free banking!
Solbank have an account where they have no bank charges as long as you have 700 Euros going in each month.
We do not have any regular monies being paid in nor do we want to in this current climate. I appreciate that many banks require this, but would rather pay an nominal annual amount or nothing!
NOTE we are residents for over 6 years.
euroteide
11-10-2012, 10:59
I recomend CajaCanarias,BBVA and La Caixa. Never had any problems with them till date.
We went to several cash machines in LC to draw a small amount! every machine (bearing the symbol on our card) wanted to charge 2€ commission! That is a joke! seems they are clawing in money any way they can!:wow:
languagefan
11-10-2012, 12:46
My experience with Santander has been horrible (they charged for any movement in and out of my account).
Caja Canarias is ok, but has now merged with La Caixa.
Hope this helps.
karinagal
11-10-2012, 12:57
My experience with Santander has been horrible (they charged for any movement in and out of my account).
Caja Canarias is ok, but has now merged with La Caixa.
Hope this helps.
I'm with Santander in the UK and when I was looking at buying an apartment and knew I'd need an account on the reef for paying bills, I asked them if they had some sort of reciprocal agreement which would allow me to transfer funds easily between them. I was met with blank looks in the branch, transferred from pillar to post on the phone and ended up no further forward after the best part of a day. I gave up!
I'm with Solbank now. It costs me €22.50 every 3 months but it works for me.. There are probably better banks for what I need but for the moment I'm happy where I am!
The undisputed queen of de-nial
treboreel
18-10-2012, 20:19
A lot of people on here criticise them but we've had a residents' account with Santander for 9 years with no problems. Debit cards are free, credit cards €12 per annum but ZERO bank charges
Hi,
Thank you for the information, very useful.
I'm with Santander in the UK and when I was looking at buying an apartment and knew I'd need an account on the reef for paying bills, I asked them if they had some sort of reciprocal agreement which would allow me to transfer funds easily between them. I was met with blank looks in the branch, transferred from pillar to post on the phone and ended up no further forward after the best part of a day. I gave up!
Exactly my experience, karinagal - I knew that Santander UK and Santander Spain are separate entities, but in branch or through central customer services, absolutely zero knowledge or help with anything Spanish-related at all from Santander UK.
Dawnlouise
28-02-2013, 19:28
Which is best bank to open an account with?
Solbank have an account where they have no bank charges as long as you have 700 Euros going in each month.
They also credit you back each month with a discount on any Direct Debit payments you make through them (such as Electricity bills, rates, basura charges, etc.) which is good.
cressrt I know exactly what you mean Im fed up with cam now sabadell have taken over. Charges for everything the one that has really annoyed me is the non euro payment fee. We use our debit card a lot when booking hotels etc and everythime we book anything in pounds we get a charge also sometimes it doesnt connect to the secure server online so end up having to call which then cost me a phone call. Thanks all for the information we will definetely be changing banks which is a shame as we like cam bank and had been with them since they opened.
Santander UK is a Joke, I cant believe that such a large Bank has not got some form of internal Foreign Dept to handle Tranactions for those that have moved here. Given the business they must be losing to people like my self having to go to currency transfer companies. I am using UKforex and can pay my Salary straight in and Transfer to BBVA account in Tenerife. Wouldn't give Santander UK the time of day and closing that account when I get home in few weeks, can't say what they are like in Spain but given experiences of the UK they won't get a sniff of business from me. I find BBVA very helpful and pleasent to deal with. (rant over) :jumping:
As Megaloo and Tdm have mentioned above, here's a bit more detail on the account I think they're referring to.
BS - Banko Sabadell (also branded Sol Bank) has the current offering to non-residents (and, I presume, residents as well):
Expansion Account (at least 700 Euros must be paid in each month)
- Zero fees for account admin and maintenance
- 3% (up to 20 Euros) returned on main bills Direct Debits
- Free debit card, credit card, internet & phone/mobile banking, ATM withdrawals
If any interest is paid, it's negligible. But the account start up was easy enough at the bank - just passport and NIE/F number required - and internet banking was up and running instantly. No problem that I hadn't moved in to - or even completed on - my Canaries property yet: my debit card was mailed to my UK address. Oh, and they gave me a free pair of flip-flops.
This in conjunction with using the Currency Exchange company MoneyCorp to get Sterling into Euros at a good rate have been my preferred choices. MoneyCorp have been great, actually.
As Megaloo and Tdm have mentioned above, here's a bit more detail on the account I think they're referring to.
BS - Banko Sabadell (also branded Sol Bank) has the current offering to non-residents (and, I presume, residents as well):
Expansion Account (at least 700 Euros must be paid in each month)
- Zero fees for account admin and maintenance
- 3% (up to 20 Euros) returned on main bills Direct Debits
- Free debit card, credit card, internet & phone/mobile banking, ATM withdrawals
If any interest is paid, it's negligible. But the account start up was easy enough at the bank - just passport and NIE/F number required - and internet banking was up and running instantly. No problem that I hadn't moved in to - or even completed on - my Canaries property yet: my debit card was mailed to my UK address. Oh, and they gave me a free pair of flip-flops.
This in conjunction with using the Currency Exchange company MoneyCorp to get Sterling into Euros at a good rate have been my preferred choices. MoneyCorp have been great, actually.
Yes this is the account I have I believe it was started as non resident but then offered to us residents .I have no problem with them at all most of staff speak English and paperwork comes in English
slodgedad
03-06-2013, 22:51
Personally hate Solbank. They were fine when everything was going OK and I used them for eveything, but a couple of years ago, as older members will remember, we had a few problems and Solbank didn't want to know or help.
As long as my couple of grand was going in every month they were happy.
After our problem the smiley, cheery 'Hi, how are you today'?, suddenly disappeared.
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