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GREENFIELDS CONVEYANCING CONSULTANTS - CENTRO COMERCIAL ELVIRIA, OFICINA 1° 7, 29600 MARBELLA, MALAGA, SPAIN .- TEL: + 34 952 850 108
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Bank Accounts
One of the first things you need to do when you have decided to buy in Spain is to open a Spanish bank account. Developers will usually require stage payments to be made through a Spanish bank account and, on completion, the utility companies will require payment of their bills by direct debit.
You should be aware that Spanish banks charge a commission to receive funds from overseas and to issue banker's drafts, sometimes up to 0.5% of the money being transferred.
Greenfields can arrange for an account to be opened for you and have negotiated some competitive rates with a local bank for our clients, in some cases eliminating commission charges altogether.
If you are purchasing your property with the assistance of a Spanish mortgage your mortgagee will almost certainly open an account on your behalf through which the monthly mortgage installments can be paid