Whether you live in Spain full time, or only part of the year, you know how convenient it is to have access to funds using Spanish banks, not least because many service providers will expect a Spanish bank account for monthly payments.

At Andalucía Made Easy we’ve heard many horror stories where your real estate agent ‘recommends’ a bank or caja, only to discover that the bank has higher fees than you are willing to pay. We can help. First and foremost, we understand the difference between a resident and non-resident bank account, but most importantly, we understand that the fees for fund withdrawal are not the most important fees.

Most foreign residents aren’t aware that fees for currency exchange, or even for electronic transfer to your account may be very high. We are able to help you set up a no fee or low fee account, and if needed, we can liaise with dedicated currency specialists to ensure you don’t pay over the odds.

You’ll need insurance for your property or vehicle as well, and we can help you understand the conditions imposed by Spanish insurers, but you’ll be pleased to know we can also obtain insurance quotes on your behalf, simply tell us what you want to insure and leave the rest to us.

Other Financial Services

Most of our clients only ever need a bank account and insurance, but foreign residents in Spain will always need to be aware of their other financial obligations such as paying taxes, or perhaps you want to take advantage of local mortgage providers or apply for grants.

Spanish mortgages aren’t easy to obtain in this economic climate, but we have had success with recent clients who asked us to complete the application process, we understand what Spanish banks are looking for, and the type of security they want to see.

Of course anyone who owns property in Spain will be required to pay local taxes (equivalent to rates), and if you earn an income from your property, for example by allowing holiday makers to stay on site, or by selling olives, then your Spanish earnings are taxable. Many people try to avoid paying taxes in Spain, but with tax agreements in place this is foolhardy, and may deprive you of valuable deductions that might be available.