Foreign Perspectives

We’re hoping to buy a property in Spain at some point so have been hunting around for the best bank account as stage one in that process.

It turns out that the best short-term option for us is the Halifax because it offers completely free transfers of money from the UK which will be handy right now as it seems to be the cheapest way to get large chunks of cash from sterling into euros (the Nationwide is just as cheap but only practical for fairly small amounts).

Anyway, we couldn’t get down over the Summer and the first window of opportunity for us was yesterday as we’d nobody staying last night so we went off after the people from the night before had checked out. That looked like being quite a good time as the branch in Barcelona is open until 3pm so we were expecting to arrive around 2pm or so.

Those of you who’ve been reading this will know that we are rubbish at finding our way around Barcelona but unusually we managed to go more or less straight to the Halifax and walked in just a little after 2pm.

As it’s the holiday season, there was only the one guy there with a small queue of people in front of him so we’d to wait maybe 20 mins.

And, guess what? He couldn’t open it because they can’t take cash after 2pm and the only way to fund the account initially is with cash. No, he couldn’t take a card number and do a cash advance. No, he couldn’t open the account and give us the account number to let us transfer the opening balance. No, he couldn’t open it the next day and tell us the account number.

So, despite what the Halifax in the UK said, the simplest way for us to open the account looks like being to open it via Halifax in the UK.

As the next time slot for us is going to be in October we’re going to use the time to look into the options of Barclays and Citibank which both have loads of branches all over Spain and one of which is likely to be our long term banking solution for Spain. Halifax is certainly very convenient for bank transfers but they have very few branches and so probably aren’t a viable day to day bank for anyone living in Spain (unless you’re living close to one of their branches of course).