"Son of Form 720"

** EDITED ** I am posting this just for information. I am not in any way expressing my own opinion.

Extract from 'Business over Tapas':-  

"The Spanish Government plans to collect data on all of the country's 34 million bank accounts in what it calls a bid to crack down on money laundering and terrorist activity. But the move has drawn plenty of fire. Spain plans to set up a German-style archive of data on the financial activity of Spaniards and residents in Spain, national daily El País reported on Sunday. The move will see banks having to supply details of all the personal and business current accounts, savings accounts and fixed-term accounts they hold to the Secretary of State for the Economy. Groups including the Tax Office, the military, the General Council of the Judiciary and the secret services will then be able to access that information......................."

This message was last edited by johnzx on 15/05/2014.

** EDITED **

With this news and the fact that Barclays are pulling out of Spain, time to open a euro account outside of Spain I think.  With SEPA payments and direct debits, I don't have any real need to have a Spanish bank account now.

But then if a resident, with an account outside Spain (over 50,000 euros) you are back to the 720 !