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.
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
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