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We were going to rent out our UK house when we eventually move to Spain but but now feel we would like to sell our house and invest the money for a little extra income.
Can anyone advise regarding savings in a Spanish bank, what sort of interest rates are available etc.or would we be better off leaving the money in the UK?
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If you're going through hell keep on going, you might get out before the devil even knows you're there.
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Probably More',never thought of that.
Are spanish taxes oninterst earned high?
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If you're going through hell keep on going, you might get out before the devil even knows you're there.
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You have to be resident in the UK to open a bank account but once opened you can change your address when you move over to Spain and have your mail including Cr/Dr cards delivered there.
Many people report on forums who have done this with Nationwide, Lloyds are two that I remember being discussed.
Some people even have their pensions paid in there and draw out from the atm's in Spain.
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Thats good,changing banks can be a real pain.
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If you're going through hell keep on going, you might get out before the devil even knows you're there.
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Acapulco, it's high time you had an avatar, don't you think ? 
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Suppose you're right More.I will try to find something suitable.
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If you're going through hell keep on going, you might get out before the devil even knows you're there.
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Hi again, Acapulco. You were asking about savings rates.
We've just had details in the post about DD's out of our Halifax ES account. Halifax ES also has included details (in English  ) of their 12 month Halifax Deposit. It pays 5.00% APR on maturity & it's available from 6,000€. Interest rates effective from 1st Feb, 2008.
www.halifax.es
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Thanks More.
Got my rucksack packed and my stun gun and net. Just off Avatar hunting.
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If you're going through hell keep on going, you might get out before the devil even knows you're there.
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Ok, cya when you return with one.
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Bancaja offer non-resident sterling saving account paying 5.75% rate annually, which is tax free because as non-resident you do not pay interest on your saving. that is equal more than 7% in UK before tax. you can hardly bit that? none of ISA offer that high rate
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But if you are a tax payer in the UK, you have to declare the interest there, right? And Gordon the Grabber will want his cut.
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"Get your facts first, then you can distort them as you please"
Mark Twain
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Hi All
Could someone tell me the difference between an Escow account and a Bonded account. The Marketing agent who has taken alot of monies was not supposed to hand over deposits to the developer until licence was granted. This has not happened yet they have given the money to the developer but stated its in a joint bonded account?
Ocean View Properties despite many request from myself /other purchasers and solicitors will not tell us the name of the bank the money has been deposited in.
Regards
James
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It seems a bit of a minefield. We have a current account with Barclays so naturally thought we would open a savings account too. We went through the trials and tribulations and found an indtant access one with a €1 minimum ans 3.75% which was fine for us. We now find that we can only receive "new" money into this account. i.e. Money that has come from a bank other than Barclays. How stupid is that? The idea was to send over 6 months monies and transfer what wasn't needed into the savings until needed, then transfer back. We are now looking at the Halifax account.
Mark
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