Moving to another EU country. What happens with my bank account?
Thread poster: flaviofbg

flaviofbg
Spain
Local time: 05:48
Spanish to Italian
+ ...
Dec 30, 2003

Verbatim. I am living in Spain and have my bank account in Spain. Let's imagine I move to Italy or France or whatever. What happens to my bank account? What would be my best option: to open a bank account where I move or to keep my old Spanish account?

Clueless Flavio


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Andy Lemminger  Identity Verified
Canada
Local time: 21:48
Member (2002)
English to German
Keep both Dec 30, 2003

I imagine that you will have customers in both countries. They will prefer to make payments to local banks. Therefore I would keep the old account and open a new one in the country you are moving to.

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baroni  Identity Verified
Local time: 05:48
Member (2004)
English to Italian
+ ...
I agree with Lemminger Dec 30, 2003

As I moved to Austria from Italy some years ago I kept both, and it was the right decision. My Italian customers have no extra bank charges, and neither have I when I pay
Italian proofreaders (through Telebanking).


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Karine Piera  Identity Verified
Local time: 05:48
English to French
+ ...
Both for sure Dec 30, 2003

I agree with the previous advice, especially since I am living in the UK, where I'm charged for payments in Euros. Therefore, when a customer wants to pay in Euros, I use my French account and the English one for English customers.

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Anjo Sterringa  Identity Verified
Spain
Local time: 05:48
Member (2003)
English to Dutch
+ ...
Spain is different Jan 3, 2004

Strictly speaking you should change your Spanish bankaccount to a non-resident account once you move to another European country. This will keep the Spanish taxman from taking 15% of any interest on your account (which is normally immediately taken by the bank as 'costs' anyway). I do think they have found some other way to get innocent tourists to pay some kind of tax when they have an account, but I do not remember.
You could check it out at your bank (without saying you are actually moving!). With the possibility of internetbanking at almost every bank now (I use La Caixa- no I don not have shares) it does not really matter where you are based. You do need to keep an address somewhere though. Residencias are valid for 5 years, and if yours is recent you could even have double residency for some time. Be sure to settle any debt with the Social Security though because they do not forget... (If you are an autónomo you have to arrange the 'baja'- check it with your gestor).
That went a little further than bank accounts though. I am also thinking of moving, either to the mainland (I live in Palma) or to France- but I just got used to the system here...


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Moving to another EU country. What happens with my bank account?

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