View Full Version : Finance How do you set up a basic bank account in Tenerife?

Dave Social
18-12-2012, 12:06
Wonder if anyone can help...
I have some good neighbors who's son lives with them. I believe the son is about 22 years old.
He's not working but the parents are working. He has decided to stay and live with them and he has an NIE now. He is looking for work but his parents currently support him.
He went to the Santander bank and to open an account with his passport, NIE and was told that he could not have an account till he had a contract of employment. Or that he could prove his income or how he supports himself.

If he is been supported by his parents at present how does he prove this to the bank?

18-12-2012, 15:28
Mainstream banks generally want some sort of proof of income - regular income into the account. From their point of view, no income so why the need for a bank account.

We used Santander as non-residents and the type of account we had (when opened) needed a minimum of €500 in it at any one time. It was a 'book' account, rather like the English building society account. Could he not get a similar account from Santander, or one of the caja's (savings banks)?

19-12-2012, 02:32
Better going to LaCaixa or similar to open an a/c with book and Cash Card. They are much less "choosy" as to new clients taken on.

14-01-2013, 14:30
Does anyone know of a bank which will accept less than the €500 going in each month please? preferably not leaving €500 in there doing nothing either!