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Best bank in lanzarote

Posted: Mon Apr 12, 2021 10:35am
3 replies104 views4 members subscribed
Ricki1

Posts: 2

Location: Puerto del Carmen

Joined: 12 Apr 2021

Hi I was just wandering if you can help we are going to be locating to lanzarote in the near future and was looking for advice on which is the best bank to use ? 
cheers 

ginny23

Posted: Tue Apr 13, 2021 1:06pm

Posts: 24

18 helpful points

Location: Conil

Joined: 14 Jul 2019

Posted: Tue Apr 13, 2021 1:06pm

You'll hear good and bad about every Spanish bank !   We're with Sabadell in pdc, they're OK so far (been with them 2 years) but they do charge a quarterly fee however, I think this is waved if you buy a 'product' from them i.e. insurance.  I've heard bad things about Santander (nothing to do with the UK Santander) and a few other banks that charge excessive fees.  I think BBVA do a fee-free on-line account but it is on-line only and I don't think you can go into a branch to sort out issues etc.  Not all banks have a branch in every town, so depends on where you want to live.  Google banks near to where you plan on living and carefully read their T&Cs on their web sites (not easy as most are only in Spanish so get used to the imperfections of Google translate)!  Good luck!

JOHN46

Posted: Tue Apr 13, 2021 2:00pm

Posts: 4

2 helpful points

Location: Yaiza

Joined: 22 Mar 2021

Posted: Tue Apr 13, 2021 2:00pm

ginny23 wrote on Tue Apr 13, 2021 1:06pm:

You'll hear good and bad about every Spanish bank !   We're with Sabadell in pdc, they're OK so far (been with them 2 years) but they do charge a quarterly fee however, I think this is waved if you buy a 'product' from them i.e. insurance.  I've heard bad things about Santander (no...

...thing to do with the UK Santander) and a few other banks that charge excessive fees.  I think BBVA do a fee-free on-line account but it is on-line only and I don't think you can go into a branch to sort out issues etc.  Not all banks have a branch in every town, so depends on where you want to live.  Google banks near to where you plan on living and carefully read their T&Cs on their web sites (not easy as most are only in Spanish so get used to the imperfections of Google translate)!  Good luck!

This is a very hard question to answer.  The Spanish banking system is going through a process of consolidation.

We were happy with our bank for many years and then it was taken over and chaos ensued.

By and large, all banks have charges.  However, many banks waive the charges if you have a pension paid in directly from UK.

In my opinion, the best bank is one with good online banking.  We have found Sabadell's online banking to be one of the best systems.  However, I believe that Sabadell may have a merger in the pipeline!

Avoid Bankia and Santander!

A good branch will experience staff turnover and things can then change.  I avoid using a branch if possible since it is always time-consuming and sometimes irritating.

One of the certainties in life is that you must have a Spanish bank account but you may fall out with your branch since they tend to be very inflexible.

Good luck

Ricki1

Posted: Tue Apr 13, 2021 7:32pm

Ricki1

Original Poster

Posts: 2

Location: Puerto del Carmen

Joined: 12 Apr 2021

Posted: Tue Apr 13, 2021 7:32pm

JOHN46 wrote on Tue Apr 13, 2021 2:00pm:

This is a very hard question to answer.  The Spanish banking system is going through a process of consolidation.

We were happy with our bank for many years and then it was taken over and chaos ensued.

By and large, all banks have charges.  However, many banks waive the charges if you have a pension paid in directly from UK.

In my opinion, the best bank is one with good online banking.  We have found Sabadell's online banking to be one of the best systems.  However, I believe that Sabadell may have a merger in the pipeline!

Avoid Bankia and Santander!

A good branch will experience staff turnover and things can then change.  I avoid using a branch if possible since it is always time-consuming and sometimes irritating.

One of the certainties in life is that you must have a Spanish bank account but you may fall out with your branch since they tend to be very inflexible.

Good luck

Thanks so much that was so helpful guys 🙏🏾👌🏽

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