how do you manage your money if long time in Spain (Full Version)

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rogeliocan -> how do you manage your money if long time in Spain (Oct. 13 2013 18:07:43)

Normally when I travel, I load up my credit card with cash and then I make withdrawals from it.

If I am spending 6 months in Spain, I don't want to do this because of the withdrawal fees. I would think I would open a bank account there and then transfer euros form my bank, being from Canada, US or any other country.

So 2 questions, is that possible, can foreigners open a bank account in a bank there?
The other questions, any other options you guys have thought of for having access to money there?



tele -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 20:05:01)

I am also going there for several months and I am interested also about opening account in spain, is this possible? I'm sure there will be several papers to fill but does anyone know about this? I am from EU country



dreolino -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 20:39:56)

some banks offer a free visa card with which you're able to do withdrawals in most of the countries worldwide. I'd look for a direct bank in your own country. I have free visa as well and it worked out brilliant for me throughout the years.



bernd -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 20:52:46)

I was offered a free visa card, too. After seeing the charges I´ve denied.



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 20:57:03)

quote:

some banks offer a free visa card with which you're able to do withdrawals in most of the countries worldwide. I'd look for a direct bank in your own country. I have free visa as well and it worked out brilliant for me throughout the years.


So how does it work, is it like what I normally do? I load up the card with cash, then I can use the VISA to withdraw at any Cirrus, Maestro or Interac supporting bank, but every time you withdraw, there is a fee plus there is a limit. So not very good if you actually spend months there. Is your free VISA different ( I doubt it because banks never do anything for free).



Escribano -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 21:11:43)

10 years ago I opened my account with my British passport. Just wandered in off the street. Not sure about now or for non-EU citizens.



dreolino -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 21:12:27)

no I do not pay any fees, neither for having the visa itself nor for withdrawals anywhere on the planet as long as it is maestro etc. its quite a sweet deal. it's a german bank so if you're german I can give you the details.
the account just sucks when you're actually in your own country...but I live outside since years so it definitely makes sense for me
oh, and there is a limit of 600€/day. you have direct access on your account with that visa and the withdrawed money gets charged every month



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 21:42:41)

That VISA is different then mine. I will look to see if they have anything similar here in Canada, that would work for me.



Escribano -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 22:15:12)

It's not the fees it's the forex rate they set, if you are outside your own currency area,



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 22:46:55)

Yes you are right. I will go and look at the different banks and see what they offer. My best bet is to move euros over there.



bernd -> RE: how do you manage your money if long time in Spain (Oct. 13 2013 23:19:04)

quote:

ORIGINAL: Escribano

It's not the fees it's the forex rate they set, if you are outside your own currency area,

Yes, you´re right. I meant the forex, not the withdrawl charges.



withinity -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 4:25:47)

Do Debit Cards with savings account work in Europe?



Turron -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 8:40:08)

If you're there for 6 months, see if you can open a Spanish bank account and then use a debit card on that account. No charges for transactions. If you're from North America the paperwork can be a pain in the *ss though ...
Or just get a big wad of cash each time from the ATM so as to reduce the charges per dollar spend. But don't flash it around.



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 12:55:30)

Looks like banks offer the ability for tourists to have an account.
After looking at a few banks, this one, up to now, had the most info, and 800 numbers for a bunch of countries. You can do all the paperwork from your country... it looks pretty good.

http://www.bancopopular.es/popular-web/extranjeros/No-residentes/cuenta-espana-extranjeros.htm


I was surprised, and awed that ING Direct.ES cannot be contacted by e-mail.... go figure, a virtual bank that you must call by phone. Unless I missed the 'contact us' link (which is right at the top right of the Canadian and US sites), looked for it but did not find it.



Jim Kirby -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 17:08:48)

I opened a bank account while living in Granada for 6 months in 2010. As above, wander in off street with passport and local address and sign up. (I had much more trouble getting my debit card two weeks later, when they lost it in the office rather than mailing it to me.) ATM transactions free on your own bank, and interbank fees are lower than in the US. The account has a monthly fee of about 2 eu, though.



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 19:10:02)

Super. That is what I will do but probably with the above bank and set it up before I go. I was not thinking of getting a credit card, debit should do for me. Funny about losing the card. Don't mind the 2eu fee, compared to paying up every time you withdraw, it's cheap!



El Kiko -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 19:13:25)

quote:

how do you manage your money if long time in Spain 

easy ..I was there about 8 years ..get a job .....



rogeliocan -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 20:36:51)

That would only be 2nd best. And I am doing 3rd best because I have a job here already. Top choice would be to find a rich woman there and not work at all.



tele -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 20:46:08)

quote:

ORIGINAL: El Kiko

quote:

how do you manage your money if long time in Spain 

easy ..I was there about 8 years ..get a job .....


I prefer the rich woman option[8D]



El Kiko -> RE: how do you manage your money if long time in Spain (Oct. 14 2013 21:06:59)

oh yeah .. i actually know someone that did that ....didnt go well in the long run ...but still its an option ....



val -> RE: how do you manage your money if long time in Spain (Oct. 15 2013 22:17:00)

I have a UK Santander bank account with debit card. When in Spain I can use my card in an ATM, pay no fees nor commission and get the day's full exchange rate. I can get 300 euros a day if I need to. Just have to be careful not to use the card for purchases because that brings all the usual charges. Also need to be careful about which ATM to use since some of these machines have their own charges - but they warn you in advance.

I think there's a Santander in Canada - might be worth checking out the terms - they may offer similar. Dump your money in the account at home then travel with card and live on cash.



cookieshoes -> [Deleted] (Oct. 16 2013 4:20:19)

Post has been moved to the Recycle Bin at Oct. 21 2013 16:37:49



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