Where should I setup a bank account in Spain?
We asked expats in Spain what banks they use and there advice about banking. They advised...
"No, I opened an account with an internet bank. The banking fess for the expat-based banks were ridiculous," wrote a member who made the move to Madrid, Spain.
Balcells Group LawyersConnect
With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Balcells Group LawyersWith over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Click connect to have our partner contact you via e-mail and/or phone.
"Before retiring in Spain, expats should research the cost of living in the area they plan to move to as this can vary greatly across the country. They should check if their pension or other income will be taxed in Spain and what the tax rate will be. It can be helpful to learn some basic Spanish, or the local language in the area, in order to get to know the local culture and better integrate into the community. Knowing about local healthcare, such as public or private insurance and private medical providers, may be beneficial. Expats should also make sure that they are familiar with their residence rights, visa restrictions and other legal requirements for living in Spain. Finally, deciding on where to live, considering factors like amenities, infrastructure, and climate, can be an important step in the retirement process," explained one expat living in Spain.
Other Questions:
- What do I need to know before moving to Spain?
- How do I find a place to live in Spain?
- What is a typical expat home or apartment like in Spain?
- What is the average cost of housing in Spain?
- Should I buy or rent a home in Spain?
- What should I pack when moving to Spain?
- What cultural faux pas should I try to avoid making in Spain?
- Why do people move to Spain?
- What are healthcare services like in Spain?
- What are medical services in Spain like?
- What are typical rents in Spain?
- What appliances are typically included in a rental?
Where should I setup a bank account in Spain?
If you live in Spain, newcomers to Spain would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.