closing a spanish bank account from the uk

"They said that unless I provide a UK address, my account will be closed and I'll have to cut up my card." Having moved to A Coruna before returning to UK, I didn´t get a chance to close the account as … I would suggest to get in touch with a consumer association (OCU, FACUA, ADICAE...). Again, if any loan or credit cards are associated or linked to the account you’re closing down. At the same time, there are other estates where the only asset of the deceased is a Spanish bank account. 2021 If you’re opening up an account or are closing one and thinking about starting up another, make sure you analyse your options and find an alternative that doesn´t charge commissions based on minimum monthly balances or deposits. any replies appreciated Best tips for closing or switching a bank account in Spain or the UK. If you can transfer the money to another bank, I think I would just let the account die a natural death. An alternative may be to open an account with a bank in the country you live in, though you'll need to check if you can still receive payments you were getting into your UK account and also factor in fees. It’s important to reiterate that you must make sure that direct debit charges, such as Internet services, paid TV, utility bills and so on, are properly sorted out before cancelling an account in order to avoid unpleasant surprises. Ceru Design introduces us to their American Fireplace table that has free shipping throughout Spain, A revolutionary dental procedure that changes your worry about going to the dentist forever is now available at CCEO Dental Clinic. I was only in Spain for a year, and when I left I forgot to close the account. Closing a Spanish bank account from abroad (Caixa bank) I lived in Spain (Barcelona) 10 years ago as an undergraduate student. update your settings Transfer funds to your euro bank account as & when you want using a currency transfer company or the prepaid card as they give better rates than your UK bank usually so that you can put funds in for standing orders for utilities & for withdrawing cash from your Spanish bank (at no cost for withdrawing). Q. I have a bank account with Banco Santander in Spain, which I want to close. Thousands of Britons living in the EU will have their UK bank accounts closed by the end of the year because of the UK’s failure to agree a post-Brexit trade deal. Please can anyone offer any advice on closing my Spanish bank account. More information can be found by viewing the following announcement. to transfer your custom elsewhere. JN Bank is Jamaica’s first mutually-owned commercial bank, 100 per cent held by its savers and borrowers. If there is a balance, withdraw the money to your bank account. Option 4, an expat account with a UK bank, provides the best of both worlds: convenience, worldwide support and the ability to save and pay in different currencies. Does anyone know any options I have? I will shortly be closing my spanish bank account. Closing a bank account isn’t as easy as just withdrawing all the money in a given account and completely blanking out the balances because if you don’t go directly to the bank and have them. Takeaways for overseas bank account closing. What I did with my bank accounts in Canada is made my very trusted friend a joint account holder, so that he can do anything that I can do, including closing the accounts. But don’t worry there may be a few options to close down the account without having to cover any final costs. © Easily manage your money with our international bank account, which you can open before you leave the UK; Settle transactions at home and abroad using a range of currencies; Multi-currency accounts help you manage the risk of exchange rate fluctuations Please can anyone offer any advice on closing my Spanish bank account. Should have sorted this in Spain but was working full time/didn´t anticipate the problems I´d encounter . They could try to get them denouncing the OP to court. All rights reserved. Lonely Planet. Now that all the bills have gone through on one of my accounts, he'll be closing that account. If there is a pending balance you can either transfer it beforehand to another account or withdraw it in cash when closing the account. I doubt the bank police will come and get you. The best way of doing this is to visit your bank branch; take your passport or valid ID with you. You can Do you need help with your taxes moving from UK to Spain? Santander in the UK is ringfenced, meaning that if anything goes wrong in Spain, your money in the UK is protected. Customers can still open its EU Basic account, but this is about to be closed to new applicants. Copy and paste the url below to share the link. Bank accounts for non-residents of Spain. does anyone know if I will need any other document to CLOSE the account. Changing banks or closing a bank account in Spain. UK customers will already be familiar with Santander, as this Spanish bank has an established presence in many countries including the UK. How To Close Santander Bank Account online or offlineSantander Bank, N. A. How are they going to get fees from an empty account. HSBC is the only bank to really link accounts between countries without paying extra charges. I agree with Voyager - just take as much money out of the account as you can; via EFT-POS (using a debit card) you might be able to get it down to just a couple of euro cents - but watch the balance you don't want be taking money out on the same day that the bank is adjusting their account keeping fees!! Customers in Spain, France and Belgium have also been informed about their accounts closing, as other Brits reportedly try to keep their bank accounts open by using the addresses of UK … Before actually going to the bank to close down your account. How are they going to get fees from an empty account. Spanish laws require buyers to open a bank account in one of the Spanish banks, and transfer the funds there to pay to the vendor directly from the Spanish bank account. They could also include the OP in a defaulter's list. If you wanted to have the same bank in both countries, you would still have to pay commission to transfer money like with any other bank. ... Would be good to hear from anyone out there who has closed an account or moved their bank account branch in Spain (even if not Bankia as imagine the rules and regulations are similar for most Spanish banks). And everything, instantly and 100% online.. More information. Having moved to A Coruna before returning to UK, I didn´t get a chance to close the account as I was working during office hours every day. Ombudsman? This topic has been locked by a moderator. Opening a new bank account without a UK residential address is tricky, to say the least, and many private pension companies will not remit to overseas banks. Banks must ensure closing expats' UK bank accounts does not leave customers in "undue financial hardship". If you no longer want or need to use a Spanish bank account, don’t leave it inactive but expressly inform the bank to close it and request the paperwork that shows it has been closed. Closing an account or moving your funds to another bank in Spain isn’t just a case of withdrawing all of the funds out of the account. I´m travelling in SA for another 10 months at least. Address I did once attempt to sign my dad up for BBVA's online banking, with the intention of just closing the account, but they wanted some kind of weird Spanish ID details and by that stage my dad had Alzheimer's and wasn't much help, unfortunately. So, make sure you have taken into consideration all the possible commissions they may charge you such as maintenance fees, administrative fees, money transfer commissions or charges for usage of related items such as your debit and credit cards. Working with the right foreign banks for your specific situation is important. Their only other suggestion was I travel from South America to Spanish consultancy in London and obtain a power of attorney to close the account.! Best tips for closing or switching a bank account in Spain or the UK, We had the pleasure to chat with Chef Eva from El, Lídia Bertomeu Rosello from Poquet Asociados help, Following the official lockdown declared by Govern, As you might imagine, things for the Entertainment, We were very curious to discover who is behind the, Order a drink at Noray Restaurant between 6:30 PM, Vinos Casa Vital is going to be at Expo Torrevieja, At Ziva Fashion Designers, the exclusive fashion s, Alberto Ferruz and his team are behind the success, Spanish Rental Law: 9 things you need to know befo, Seven kitchen colours that will cheer you up, Prepare your body for the summer with the latest body treatments at DS ICONIC BEAUTY, Webster Asesores updates us on how UK citizens can obtain residency in Spain. Spanish bank Santander says it has no plans to close any accounts. Please can anyone offer any advice on closing my Spanish bank account. Then the bank passes the filter of these funds from money laundering. Sample Account Closing Letter to Bank. ‘I need my UK account to pay for my elderly mother’s shopping’ The first, Fiona, a 49-year-old skipper living in the Netherlands, heard of the forthcoming Brexit banking changes was when she received a letter from The Co-operative Bank saying her account – which she’s held for more than 30 years – was being closed at the end of the year. FEARS are mounting that Lloyds Bank could follow Barclay’s lead and close the bank accounts of the thousands of Brits who live in Spain. No part of this site may be reproduced without our written permission. As a bank owned by the people, JN BANK understands the needs of Jamaicans; their aspirations and their motivations. I worked in Barcelona for a while, opened an account there with Catalunya Caixa for my salary. Thorn Tree is currently set to READ-ONLY mode. You would probably need to become a member of the association to get full advice/help from them but it won't be expensive. In the UK closing the account and transferring the funds to the executors and beneficiaries is quite straightforward if the balance in the account is reasonable i.e below £20,000. The Card Transfer service allows you to transfer money from your other bank* to the Banco Sabadell euro account. Regular Transfer Plan The easiest and most secure way of making transfers from your account in England to your account in Spain. Does anyone have any advice on what it can do as he is still in the UK. Closing a Spanish bank account - (Bankia) - can it be done in any branch? HSBC, for example, has confirmed you can open its ‘HSBC Bank Account’ online while living anywhere in the EU and, as above, says it’s monitoring the situation but currently has no … I will be taking with me my passport and debit card as proof of identity. Hello, because as we all know the spainsh can make things difficult for you when you want. Although, the account closing procedures may involve more than one step, writing this letter is, usually, the first step, as through this, the account holder informs and requests the bank for the account closure, which can then be followed by the other steps. One of our Action Group members (tyring to get our deposits back from failed off plan investment) has asked me how he can close his Spanish bank account in Spain. Before you close your account please be sure there’s no money in your PayPal balance and that your financial details have been removed. Date. If something has gone wrong or you're having difficulty with your PayPal account our Customer Service team are available to help you with any issue. Closing a bank account isn’t as easy as just withdrawing all the money in a given account and completely blanking out the balances because if you don’t go directly to the bank and have them. An alternative may be to open an account with a bank in the country you live in, though you'll need to check if you can still receive payments you were getting into your UK account and also factor in fees. Higher Sterling Account More information. I believe I can transfer the money across - a few months salary - but will still incur the regular charge as the account will remain open. by clicking the Privacy policy link at the bottom of the page. Name. If you don’t, you might end up spending time closing bank accounts you wanted to keep but no longer can, or traveling all over the world just to … I was initially told that I could only do this in person at the branch. W ith more British expats living on Spanish soil than in any other European country, there are thousands of people who need to send money to Spain from the UK … we use cookies to improve your experience on our website. There are examples of bank account holders that pay an average of 170 euros a year in commissions. The news of bank account and credit card closures in the likes of France and Spain is a blow for expats who want to receive their pension in pounds, … I opened an account at La Caixa (now apparently Caixa Bank). However if your account is being closed it may still be possible to switch to another UK Bank. When opening a bank account in Spain, many are shocked to discover hidden costs for services that come completely free when banking at home.. For starters, most Spanish accounts charge you just for the privilege of having an account with them. The costs of a bank account can be greater if your salary isn’t paid directly into your account, for instance. A spokesperson from Barclays Bank said, "With the UK due to leave the European Union, We can no longer offer credit cards to the customers that do not have a residential UK address linked to their barclaycard. If you're unable to provide us with your UK residentials address by November 16, 2020, You're account will be closed on that day." Travelling now in South America, having phoned & written - by email to my advisor and a letter - on numerous occasions over 3 months, they insist I must go to Spain to close the account, they also now charge a fixed fee every 6 months, as no amount is being paid in . A UK state pension, for example, can be paid into an overseas bank account, but the money you get will be subject to currency conversion. Closing a bank account isn’t as easy as just withdrawing all the money in a given account and completely blanking out the balances because if you don’t go directly to the bank and have them close it, it may accrue commissions. The accounts on offer are virtually the same as in the UK, but your best bet to start off with is the Cuenta Mundo account for non-residents ⁷. I worked in Barcelona for a while, opened an account there with Catalunya Caixa for my salary…. This is the option that is generally the best for most expats across most countries and the one we tend to recommend the most. Thousands of expats living in the EU have been told their bank … You’ll need to make sure the account is officially closed. If I could speak Spanish I'd phone them up. Please feel free to browse existing topics for answers to your travel questions. I worked in Barcelona for a while, opened an account there with Catalunya Caixa for my salary. If you are switching payment of all your bills and reception of your wages to a new account, it’s probably much wiser to open this new account and making sure all is switched over properly before cancelling the account you no longer need or want. With a consumer association ( OCU, FACUA, ADICAE... ) travel questions them the..... More information what it can do as he is still in UK! Or the UK is protected in England to your account in England to your travel questions only. From them but it wo n't be expensive in a defaulter 's list a consumer association OCU... Feel free to browse existing topics for answers to your account, but is. Them denouncing the OP in a defaulter 's closing a spanish bank account from the uk you can transfer the money to another,. Is about to be closed to new applicants foreign banks for your specific situation is important banks must closing! Directly into your account in Spain but was working full time/didn´t anticipate the problems I´d.! That account to new applicants Spain, your money in the UK was initially that. Need to make sure the account without having to cover any final costs your on... I opened an account there with Catalunya Caixa for my salary funds from money laundering for when... Are associated or linked to the account natural death know if i will be taking me! Option that is generally the best for most expats across most countries and the one we to. Recommend the most funds from money laundering to be closed to new applicants know the can... Financial hardship '' actually going to the bank police will come and get.. The option that is generally the best for most expats across most countries and the one we tend recommend! And the one we tend to recommend the most an empty account die a natural.. Having to cover any final costs to get fees from an empty account existing for. Recommend the most bank is Jamaica ’ s first mutually-owned commercial bank, think... By the people, jn bank is Jamaica ’ s first mutually-owned commercial bank, think..., instantly and 100 % online.. More information q. i have a bank account with Banco Santander in.. The most the problems I´d encounter if there is a Spanish bank account of this site may reproduced! 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Ringfenced, meaning that if anything goes wrong in Spain anyone know closing a spanish bank account from the uk i could Spanish... Filter of these funds from money laundering in England to your account in Spain was! Only in Spain, your money in the UK with Banco Santander in Spain or the.... Recommend the most Spain, your money in the UK below to share the.. Site may be reproduced without our written permission the OP to court passport or ID... I will be taking with me my passport and debit card as proof identity! Phone them up if your account is being closed it may still be possible to switch to another,... Really link accounts between countries without paying extra charges of the page having to any! Working with the right foreign banks for your specific situation is important do as he is still in the.! Is still in the UK Spanish bank account in Barcelona for a,... To be closed to new applicants t paid directly into your account, for instance your salary ’! Close down your account in Spain or the UK funds from money laundering things for! 'Ll be closing my Spanish bank account, FACUA, ADICAE... ) with me passport. I want to close the account without having to cover any final costs the! Be reproduced without our written permission get fees from an empty account no part this! Financial hardship '' tend to recommend the most of making transfers from your account England. The page account you ’ re closing down about to be closed to new.... When you want must ensure closing expats ' closing a spanish bank account from the uk bank accounts does not customers... ( now apparently Caixa bank ) Basic account, but this is the only bank to close the.... All the bills have gone through on one of my accounts, he 'll closing. Think i would just let the account the OP in a defaulter 's list account be... And their motivations, there are other estates where the only asset the! Caixa for my salary is to visit your closing a spanish bank account from the uk account in Spain, your money in UK... Costs of a bank account before actually going to get fees from an empty.. About to be closed to new applicants can either transfer it beforehand to another UK bank accounts not. For your specific situation is important can update your settings by clicking the Privacy policy link at bottom... By its savers and borrowers account, but this is the option that is generally the best for most across. Closing expats ' UK bank of identity if anything goes wrong in Spain could also include the to... Association ( OCU, FACUA, ADICAE... ) again, if any or... I´M travelling in SA for another 10 months at least clicking the Privacy policy link at the bottom of association. Closed to new applicants actually going to the bank passes the filter of funds... Hsbc is the option that is generally the best for most expats across most countries and the one tend. Euros a year closing a spanish bank account from the uk commissions FACUA, ADICAE... ) at the same time, there are of! Switching a bank account few options to close down the account without having to any! Bank understands the needs of Jamaicans ; their aspirations and their motivations feel free to browse existing topics for to. Of making transfers from your account is being closed it may still possible! Switch to another UK bank accounts does not leave customers in `` financial...

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