Where should I setup a bank account in Spain?
We asked expats in Spain what banks they use and there advice about banking. They advised...
"No, I opened an account with an internet bank. The banking fess for the expat-based banks were ridiculous," said a member in Madrid, Spain.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.
"Before retiring in Spain, expats should research the cost of living in the area they plan to move to as this can vary greatly across the country. They should check if their pension or other income will be taxed in Spain and what the tax rate will be. It can be helpful to learn some basic Spanish, or the local language in the area, in order to get to know the local culture and better integrate into the community. Knowing about local healthcare, such as public or private insurance and private medical providers, may be beneficial. Expats should also make sure that they are familiar with their residence rights, visa restrictions and other legal requirements for living in Spain. Finally, deciding on where to live, considering factors like amenities, infrastructure, and climate, can be an important step in the retirement process," remarked another expat who made the move to Spain.
Other Questions:
- What should I pack when moving to Spain?
- Where should I setup a bank account in Spain?
- Will I be able to find a job in Spain?
- What is life like in Spain?
- What do expats in Spain appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Spain?
- Is there a lot of diversity? Are people in Spain accepting of differences?
- What are the schools in Spain like?
- What are healthcare services like in Spain?
- What are medical services in Spain like?
- Are healthcare and health insurance expensive in Spain?
- What are emergency services like in Spain?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Spain?
- How are local medical facilities in Spain?
- As a foreigner living in Spain, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
Where should I setup a bank account in Spain?
If you live in Spain, newcomers to Spain would love to hear your answer to this question.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
