Re: Account with a bank to buy property in Alicante


Dear Vince,

Thanks a lot for your informative post. You know a vast majority of things, and you know them well and deep.

I plan to buy not before fall 2009, may be even in 2010, depending on the market conjuncture evolution and my availability.
However, following your book and Mark’s pieces of advice posted on SPI, a potential buyer should think about an infrastructure for buying (NIE, bank a/c, lawyer etc) a bit in advance (in parallel with a property search) because the experience shows that nothing is straightforward: laws and practice change…

You’ve written:
“If you have an account with an associated bank why then would you need a Spanish bank account – providing you can get easy access to your money without charges being inflicted then I see no reason why you would need one until you buy somewhere here”.

Yes, I can use facilities of the Cooperative Society (of financial nature), which I am a member of, eg, to draw a cheque in favour of the vendor or the notary to pay deposit etc.
But, my Cooperative Society, having associated banks in a few European countries, regretfully, does not have an associated bank in Spain. Otherwise, I hope, the matter would have seemed simpler.

Thanks again,