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legal and financial advice - spanish bank account
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» Tax considerations » Spanish Glossary » Currency converter » Legal advice » Spanish bank account » The Spanish notario » Commercial Mortgages You will need a Spanish bank account, probably a current account (cuenta corriente). Non-residents can open a non-resident account (cuenta extranjera). You will be provided with a chequebook (talonario), although cheques are not used with the same frequency as in the UK. Note that post-dating a cheque is ineffective, it can be drawn on immediately. Many Spaniards ask for cheques to be made out to the portador i.e. cash, to avoid declaring it for tax purposes. Residents have 15% of interest earned deducted direct for tax purposes, though you can recover this if you are not liable for tax. Bank charges in Spain are high, even for routine operations. Commission on transfers out of Spain varies tremendously. This is an extract from The Complete Guide to Buying Property in Spain, by Charles Davey. Further details on this subject are to be found in The Complete Guide to Buying Property in Spain THE COMPLETE GUIDE TO BUYING PROPERTY IN SPAIN by Charles Davey 
Packed with practical details such as contact addresses, flight information, useful vocabulary and maps, this is the essential and definitive guide to buying a property in Spain
Spain is the perfect location for a home in the sun, but buying a property is not all about sunshine and sangria. The Complete Guide to Buying Property in Spain is the most comprehensive and up-to-date source of information available. It deals with the details of buying or renting a home in Spain in a practical, straightforward style, covering every issue you will need to consider, including:
'Deals with all the issues.' The Observer Charles Davey graduated from the Oriel College Oxford. He studied Law at Nottingham Law College and is a practising barrister. 
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