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residents spanish accounts free bank

Free Spanish Bank accounts for residents
#1
Thanks to this conversation with GMT, decided to do a quick research on fee free bank accounts on the island. Here's what I found:

1) Bankia - Cuenta_ON

Quote:You will not pay for:

   Account maintenance and management.
   For dropping cash to debit in more than 5,000 ATMs. Completely free at Bankia ATMs and up to four times a month per customer in Euro6000 (1)and Banco Sabadell.
   Ordinary transfers in euros from Bankia Online and the app of Bankia.
   Cheque deposits in euros.

Tarjeta Débito_ON free

By opening the Cuenta_ON, you have partner a debit card Visa contactless with these advantages:

   No registration or renewal fee (2).
   Two free withdrawals per month from abroad (3).
To keep this account fee free, one have to conduct all operations online without visiting the branch.
Link to the account: https://www.bankia.es/en/retail-banking/.../cuenta-on


2) BBVA - Cuenta Online

Quote:Only for new customers.
Cash withdrawal on debit
No fees for debit cash withdrawals at more than 6,000 BBVA ATMs throughout Spain.
No paycheck or bills
You do not need to have your paycheck or bills paid in to enjoy the benefits.
Online transfers*
No fees for your online transfers within the EEA.
Two account holders
You can also open your Online Account without fees with two account holders.

Preferred choice of most expats in Spain, at least most of the people I've checked online. Suggested by GMT, TrickyFox mentioned them last year too.
Link to the account: https://www.bbva.es/en/personas/producto...iones.html


3) Saabadell - Expansión Account

Quote:With all these advantages:
Debit cash withdrawals. - Free cash withdrawals at an extensive ATM network.
Free debit and credit cards. - No maintenance or issuance fees.
No strings attached. - No need to directly deposit your payroll if you aged between 18 and 29.
No surprises. - If you are a pensioner,1 we advance the payment of your pension to the 25th of the month
We had an account with Sabadell as non residents and even the experience (Caleta branch) was superb, the yearly charges were horrendous. To keep the account fee free, you have to be aged between 18 & 29 or have monthly income of more than €700.
Link to the account: https://www.bancsabadell.com/cs/Satellit...994241/en/



Hope the really short list will be helpful and would appreciate if any of the residents here can comment on the accounts mentioned or add some new ones. Thank you all.
I Heart Fuerteventura
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#2
(16-07-2020, 10:25 AM)Sam Wrote: 3) Sabadell - Expansión Account

Quote:With all these advantages:
Debit cash withdrawals. - Free cash withdrawals at an extensive ATM network.
Free debit and credit cards. - No maintenance or issuance fees.
No strings attached. - No need to directly deposit your payroll if you aged between 18 and 29.
No surprises. - If you are a pensioner,1 we advance the payment of your pension to the 25th of the month
We had an account with Sabadell as non residents and even the experience (Caleta branch) was superb, the yearly charges were horrendous. To keep the account fee free, you have to be aged between 18 & 29 or have monthly income of more than €700.
Link to the account: https://www.bancsabadell.com/cs/Satellit...994241/en/



Hope the really short list will be helpful and would appreciate if any of the residents here can comment on the accounts mentioned or add some new ones. Thank you all.

I am not sure you are correct on this one Sam we have an expansion account, and from quarter three last year they started charging €15 per quarter management fee, and we have always paid for the bank card something like €25/28 
annually please correct me if I am wrong
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#3
Thanks for the feedback John.

Found this and can't get my head around it:

Quote:Conditions of the Expansión Account:


Maintenance and administration fee for the Expansión Account:

Maintenance Commission for the Expansión Account: €30/quarter. NIR yield 0%, APR: -4,714% APR, calculated for a case in which an average balance of €2,500 is constantly maintained for 1 year. Account administration or maintenance €0.80 per entry.

Refund of the administration and maintenance fees

These will be reimbursed if the account does not show any balance of under 0 euros at the end of the day during the settlement period, as follows: Maintenance fee: (€15/quarter). NIR yield 0%, APR -2,3785% APR, calculated for a case in which an average balance of €2,500 is constantly maintained for 1 year. Administration fee: €0 per entry.
I Heart Fuerteventura
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#4
(16-07-2020, 11:51 AM)Sam Wrote: Thanks for the feedback John.

Found this and can't get my head around it:

Quote:Conditions of the Expansión Account:


Maintenance and administration fee for the Expansión Account:

Maintenance Commission for the Expansión Account: €30/quarter. NIR yield 0%, APR: -4,714% APR, calculated for a case in which an average balance of €2,500 is constantly maintained for 1 year. Account administration or maintenance €0.80 per entry.

Refund of the administration and maintenance fees

These will be reimbursed if the account does not show any balance of under 0 euros at the end of the day during the settlement period, as follows: Maintenance fee: (€15/quarter). NIR yield 0%, APR -2,3785% APR, calculated for a case in which an average balance of €2,500 is constantly maintained for 1 year. Administration fee: €0 per entry.

Neither can I Sam, and I have a degree in applied Maths, I can see that if you go overdrawn you will pay €60 quarterly, otherwise it is €15 quarterly, and if you maintain a balance n excess of €2.500, but the yield % baffles me
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#5
We've got an Expansion Account with Solbank and have never paid any fees.
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#6
(16-07-2020, 12:56 PM)Captain Sensible Wrote: We've got an Expansion Account with Solbank and have never paid any fees.

Neither had we Steven, ub=ntil 24 June last a €15 debit appeared and when I queried it iI was told " you were informed in quarter three of 2019, of a change in our terms and conditions, this charge reflects those changes" I would be interested to hear if you are not charged in the near future, your account could be on a different billing cycle to ours, I was not aware that maintaining a balance in excess of €2500 would negate this charge, I just might bring that amount from a savings account in the UK as it works out at over 1% which is twice the interest rate we get on that particular account in the UK, but I will wait and see if you get charged.
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#7
(16-07-2020, 12:56 PM)Captain Sensible Wrote: We've got an Expansion Account with Solbank and have never paid any fees.

Thanks Captain! Just to be clear, Sabadell used to be Solbank.

(16-07-2020, 11:10 AM)Johnrgby Wrote: I am not sure you are correct on this one Sam we have an expansion account, and from quarter three last year they started charging €15 per quarter management fee, and we have always paid for the bank card something like €25/28
annually please correct me if I am wrong

It looks like one of you is obviously flirting with the Sabadell staff. Big Grin Big Grin Big Grin
I Heart Fuerteventura
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#8
I noticed the 15€ fees as well early this year, I hadn't seen anything about the 2500 minimum balance. Queried online and got prompt courteous reply but I'm still miffed. Never paid for cards though but occasional residents check up fee which also annoys me ☹️
Living my dream
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#9
(16-07-2020, 07:32 PM)TamaraEnLaPlaya Wrote: I noticed the 15€ fees as well early this year, I hadn't seen anything about the 2500 minimum balance. Queried online and got prompt courteous reply but I'm still miffed. Never paid for cards though but occasional residents check up fee which also annoys me ☹️

On checking with management, we do not pay for the card, as we only have one {Gues who,s name it is in? Smile }
But residents chek that's a new one on me,
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#10
I never have a balance of 2500 either! Rolleyes
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