Reply To: Spanish Bank Accounts

#188611
billg
Participant

The fee for bank cheques is very negotiable, try to get the price in writing when you open the account. Some banks try to charge an outrageous 1%, though 40-60 Euro seems normal for locals. I paid 100 Euro for my first cheque (negotiated down from 600 Euro on a 60,000 cheque after a lot of complaining). Long established wealthy customers get them for free. This is LaCaixa. No fee for deposits (get that in writing also).

For the transfer rates, that depends on your UK bank, I use one of the many online money transfer companies and save 1-2% (e.g. WorldFirst, UKForex).