View Full Version : Information needed about bank charges on non-resident accounts in Tenerife

Steve 4
04-02-2013, 15:28
I've been through all the posts and threads in the banks/finance section of the forum, and there's some excellent help and information from members, particularly for residents. It's clear that some people are being charged for everything by their local Spanish bank, while others have paid nothing at all in years (several Santander mentions).

But I've found nothing specifically related to NON-residents bank account charges. If anyone has experience or can help with recommendations on how to keep non-resident bank charges to a minimum, your help would be gratefully received.

I have read elsewhere that, historically, you could sometimes negotiate charges with banks when you set up a new account - can anyone confirm or deny this?

And finally, has anyone tried or looked into having a CitiBank Euro account based in Madrid? Is it possible - and easy enough - to pay all regular bills, especially through internet banking, to Canary Islands organisations (like for water, electricity, etc.) from a Spanish mainland-based bank like CitiBank?

Many thanks in advance if you can help.

Steve 4
03-06-2013, 15:31
The best I've found so far...

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.