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Best bank in lanzarote
Posted: Mon Apr 12, 2021 10:35am
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
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!
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...
Read more...
...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
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.
Read more...
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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