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We have opened a bank account with the same bank as our vendors . We are just about to complete on our property and we have been told by our lawyer that in this very special circumstance that we will only have to pay the equivalent of £100 instead of £1000 ( the normal amount ) to transfer the moeny into the vendors account. Can you believe this and is £100 a good deal as we have been told ? Evidently he has had to ask Madrid's permission to waiver most of the fee. Should we believe that tosh and just pay up?? It is outrageous
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Hmm. Sounds dodgy to me. I transferred about 30,000 pounds from my bank (Bankinter) to the vendors bank (CAM bank) last year and it cost me €32.00. £100 seems an awful lot and the grand is ridiculous.
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What? From a Spanish bank to a Spanish bank? Especially one branch to another? I must remember not to transfer any money when I'm over there.
What about just writing a cheque? I was advised by my agents not to do that as they charge about 20 euros to clear a cheque but that sound infinitely cheaper. In UK (I know, I know, it's Spain not UK) transferring money is free unless you want same day (BACS) service which has a standard charge of £25 regardless of the amount. Even a cheque in UK only costs 17p.
£100 seems extortionate and £1000 is just ridiculous.
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Nooooooooooooooo!!!!!!!! 
We have arranged to pay to our mortgage companies gestoria, the difference between the mortgage and the purchase price to avoid the 0.4% fee for a bankers draft. A simple online BACS transfer as Bob says is free in the UK as it is all automated. To add 1€ per 1000€ is extracting the urine somewhat!!!
I may go down Bob's route and send them a cheque instead!!!
Mark
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We have been trying to telephone our Barclays branch in Cartagena all week at differing times throughout the day. All we get is the phone ringing, then a recorded message and then the call centre that can't help us because we need to speak with our branch.
Round and around and around and around...............
Mark
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Actually it is even worse as the vendors bank at the same branch so it is not even just the same bank. I feel this is what banking in the UK will be like in a few years time. No wonder Santander took over Abbey - they must be awosh with cash and you can imagine the British banks looking at the Spanish ones in envy.
This site has actually opened our eyes to what a good service we get in the UK for practically everything when I thought it was the other way around.
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I see your point.
I can vaguely remember the bad old days of paying for every single transaction on your account in Blighty, but it changed many moons ago. They say it will be coming back now that the regulator has capped the charges they can levy for unauthorised overdrafts and bouncing cheques, etc.
Is there no- one out there you could trust to withdraw the cash from your account and pay it into the other's account for you?
Mark
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That's a point as we will be there .
don't really understand - the account was opened by our lawyer but the bank want us there in person for signatures before the money is deposited.
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Our Spanish Bank Account was opened by our mortgage broker & before they would send out the check book & cash card, we had to sign a "contract" for the account & forms for the cards.
This may be the situation that you are in - the forms probably need to be completed before the account can be activated.
This is a much more relaxed process than it is in the UK - I am guessing that the broker gave a copy of our passport but I don't know for sure & we haven't had to provide any proof of address either.
Noreen
_______________________
www.alandaluscarhire.com
www.vera-apartment.com
www.verathalassa.es
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Someone else can only open an account for you if they have power of attorney allowing them to do so! Its more to do with money laundering!
All banks here charge for everything, some have a small fixed amount for transfers if you do online, but woe behold you if you go to the bank and actually ask them to do something for you!
If you are withdrawing money then give them at least 24 hours notice, large sums they wont have in the account, withdrawing costs nothing and depositing will cost you nothing as well! Best way arounf it I think!
Last completion I had, the clients account was up Nerja way, but he was buying this one in Marbella. He went to a branch to confirm the money had been transferred from the UK and was ready. On the day he went to get the cheques made, and the marbella branch refused as the money was in his branch in Nerla!! It took a stroppy client and several faxes to sort the problem out and it did get done, but what a palava!
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Quite frankly m'dear, I don't give a damn!
www.herbalmarbella.com
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Correction to my last post. The account was opened by our lawyer and is active and will take deposits , but he bank manager won't let us transfer/ withdraw the money until we have personally appeared at the bank with a copy of our passports etc and to confirm our signature . Thinking about it , it is a good system and attempts to stop money laundering but it is very incovenient and expensive to make a return trip just to give a signature at a bank. So beware anyone who is thinking of buying in Spain - OPEN A BANK ACOUNT BEFORE YOU DO ANYTHING ,our lawyer did not tell us that.
Money is just flying out our bank account at the moment , our roof had to be fixed , our gas fire is broken , we have been told that we have to have Building and Contents Insurance ( even although we have no contents and will have none until the new year ) before we can complete and the Euro is on a downward trend and it is Xmas . So anyone who sees a house of their dreams while on holiday ,you will probably compete at Xmas - got to be the worst time of the year for financies .
Never been to Spain in November - I hope I like it and it has all been worthwhile . I am sure it will be . My husband is getting palpitations evey day about the Euro. I can hear you say - but you should have bought them when the Euro was high - I know we should but we never really looked into it before, now it was too late. It was low yesterday so we think maybe tomorrow will be bettter??? When is the right time to buy - we have only a few days left . Oh for the days when it was 1.47.
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Dear, dear, Tamsin, looks like you're going through everything most of us did when we bought. I'm sure my hair only started going grey when we had to open the accounts, take out insurance etc etc. Plus the added downside of dealing with Atlas, Technologia Urbanistica and Aroca Sequier. Boy, has my hair been getting greyer ever since.
And 1.47? It was 1.60 when we bought, down to 1.50 when we completed. Shoving the arrow down to 1.40 now, I see.
All I can say is, yes, it's worth it in the end. Still have ongoing problems especially with the unholy Trinity (see line 3 above) but still get that fabulous chilled out factor when we visit, no matter what time of the year it is. OK, so breakfast on the balcony gets a bit later in the day in November and December (sometimes after lunch) and sometimes cancel the walk to the restaurant/pub as it's just as nice to stay in and eat when the rain comes down sideways. But what the heck, great improvement on staying in UK and walks along the promenade or beach (even in December) are a real pleasure.
Dear me, getting maudlin in my old age. The Jews used to have a saying "Next year in Jerusalem", well I say "Next year in Quesada" and looking forward to it.
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