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Posted
Hi gang i'm in the process of buying a place in spain to rent out and would like to know of any good high interest accounts avialiable. ant help with this would be greatly appreciated.. ta very much.
 
Posts: 1 | Location: liverpool england | Registered: 25 March 2004Reply With QuoteEdit or Delete MessageReport This Post
jer
"the man!"
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Posted Hide Post
"high interest accounts" Confused

do you mean bank accounts?

please clarify.

saludos,
jer...


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Posts: 12254 | Location: ny, u.s.a. --> madrid, spain --> the plaza mayor ! | Registered: 30 June 1998Reply With QuoteEdit or Delete MessageReport This Post
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I believe Freddy is referring to the Bond issued by the lady who appears on one of the Spanish TV channels (that's television by the way) who offers a phone in service late at night.
Her product offers : Guaranteed high interest until withdrawal but substantial penalty for early withdrawal .
Nige
 
Posts: 236 | Location: Cadiz Province and Sussex England | Registered: 07 October 2002Reply With QuoteEdit or Delete MessageReport This Post
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Freddy - as you live in UK, why don't you look into HALIFAX? They provide some excellent products in UK (www.halifax.co.uk )and currently their Internet Saver account is paying 4.30% Interest or thereabouts.
But more innterestingly, they have opened and continue to open branches in Spain. See www.halifax.es
So if you look on the website you can see that transfers from UK to Spain (UK Pounds to Euros) are done without any nasty bank charges which can add up if you are sending many small amounts. So money in Halifax account in UK can be switched to your Spanish account easily. Also your local Halifax UK bank could be of some help if you ever ran into a problem. Opening an account is easy but don't expect any Spanish bank to give good interest on a current accounnt. It's the service and convenience you need. And also savings on transfers of Pounds to Euros in Spain.
Nige
 
Posts: 236 | Location: Cadiz Province and Sussex England | Registered: 07 October 2002Reply With QuoteEdit or Delete MessageReport This Post
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Hats off to you, Nige. You've just provided me with an answer I've been looking for -- some flexible kind of account that bridges the UK/Euro gap without all the exhorbitant "transer fees" and inflexible access to funds that offshore accounts are heir to. I'll be sure to check into Halifax asap. (are they canadian, btw? as in Halifax Novia Scotia? Or is it the Scottish Halifax?)
..Now if only there could be a way to make it work with dollars, too. Even the biggest banks here in US seem mystified by currency exchange and Swift codes; I think it's assumed only filthy rich people use them, ergo the incredible fees charged on both ends of transactions.
Reb.
 
Posts: 385 | Location: a pueblo in Palencia, via Pittsburgh USA | Registered: 15 February 2003Reply With QuoteEdit or Delete MessageReport This Post
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rebrites

Although I don�t receive any interest on my account here, which I know is the subject of this thread, I do transfer monies between US and here quite regularly and easily. I write a cheque from my Bank of America account, pay it in to my spanish account, the bank credits my account that day, though I am not really supposed to draw on that money till six days later, and the commission on that is 5.5%, so on $5000 I paid 22�.

pd For those wanting to know why I pulled such a large amount of dollars with the exchange so bad....my daughter is getting married in September, like jer and ena, and she has found the dress of her dreams, so needed funds to get that and the pink cadillac wedding car she has set her heart on.........


________________________________________
Growing old is mandatory; growing up is optional
 
Posts: 1817 | Location: Montaña Blanca, Lanzarote | Registered: 02 March 2002Reply With QuoteEdit or Delete MessageReport This Post
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I'll be sure to check into Halifax asap. (are they canadian, btw? as in Halifax Novia Scotia? Or is it the Scottish Halifax?)
Halifax is a town in the 'Midlands' - central England and it boasts a football team (that is to say English Football or soccer)! It's history is steeped in woolen mills and carpets.
Halifax Building Society was one of the first of such British 'institutions' to de-mutualise and is currently owned by the BANK OF SCOTLAND. It's a powerful organisation in the UK. On a par with the NATIONWIDE BUILDING SOCIETY who have not taken the route to public ownership. They are still owned by their 'investors' and provide an excellent service. What's more, if you have an account with Nationwide in the UK, you can use their Debit Card to withdraw cash from an ATM in Spain AT NO ADDITIONAL COST ! But Nationwide do not have any Spanish subsidiary bank unlike the Halifax.
Nige
 
Posts: 236 | Location: Cadiz Province and Sussex England | Registered: 07 October 2002Reply With QuoteEdit or Delete MessageReport This Post
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