4everspain Property for Sale Murcia Almeria Spain

Property for sale Murcia Almería Spain

MENUMENU
  • ALL PROPERTY
  • PROPERTY ALMERIA
    • Latest Addition

      Almeria – nr Velez Blanco – Cortijo Buenavista has 25 hectares (250,000sq.m) €279,950

      Almeria – nr Velez Blanco – Cortijo Buenavista has 25 hectares (250,000sq.m) €279,950

      Almeria - nr Velez Blanco - Cortijo Buenavista has 25 hectares (250,000sq.m) Was €310,000 NOW … 
      [Read More]

    • More Properties in Almeria

      Villa Pedrito – €199,999 – Almanzora – Almeria

      Villa Edelweiss – €227,500 – Arboleas – Almeria

      Villa Uva – €215,000 – Zurgena – Almeria

      Villa Cabana – €175,000 – Albox – Almeria

      Villa Manuel – €209,950 – Arboleas – Almeria

      ...More Property in Almeria

    • Search Almeria Province

      CLick Below and Select Location in Almeria
  • PROPERTY MURCIA
    • Latest Addtion

      Murcia – Lorca – Villa Anna

      Murcia – Lorca – Villa Anna

      Villa Anna - A spacious 5 beds 3 baths property with a swimming pool, a summer kitchen, a garage and … 
      [Read More]

    • More property in Murcia

      Villa Olivos – 299,950€ – La Estacion – Puerto Lumbreras – Murcia

      Villa David – €220,000 – Camposol – Murcia

      Cortijo del Tio Carros – Goñar (Puerto Lumbreras) – Murcia

      Murcia – La Parroquia – Villa Campo Galicia

      Murcia – La Parroquia – Villa Pedro

      ...More Property in Murcia

    • Search Murcia Province

      CLick Below and Select Location in Murcia
  • REDUCED
  • SPONSORED PROPERTY
    • COSTABLANCAWONINGEN

      Costa Blanca Woningen sponsored property for sale by 4everspain in the provinces of Alicante and Murcia.

      View All Properties Here
    • OLE INTERNATIONAL

      Oel International sponsored property for sale by 4everspain in the province of Alicante Spain.

      View All Properties Here
  • KEY INFO
    • Essential Spanish Info
      • Library
      • Property Information
      • 5 Red Tape Essentials
      • Education in Spain
      • Healthcare in Spain
      • Transport and Driving
        • Buying a Car in Spain
    • About Spain
      • Spain Country Profile
      • Moving To Spain
      • 30 Facts About Spain
      • Culture Shock in Spain
      • Provinces
      • Almeria Province
        • Towns and Villages in Almeria
      • Murcia Province
        • Towns and Villages in Murcia
      • Alicante Province
        • Towns and Villages in Alicante
    • Money in Spain
      • Today's Currency Rates
      • Money Transfer Tips
      • Money and Taxes in Spain
      • Banking in Spain
    • More....
      • Privacy Policy
      • Contact
      • Daily News
      • Help And Advice
      • 4everspain Newsletter
      • Testimonials
      • Sitemap
  • PRESTIGE HOMES
You are here: Home / News Articles / Why you should be careful when having your salary paid into a Spanish bank account

Why you should be careful when having your salary paid into a Spanish bank account


Why you should be careful when having your salary paid into a Spanish bank account
Why you should be careful when having your salary paid into a Spanish bank account

Why you should be careful when having your salary paid into a Spanish bank account

The Bank of Spain has warned bank customers they should carefully read the conditions of any contract they sign up to when setting up their “nómina” salary payment as Spanish banks often include hidden but stiff penalties for early cancellation.

To domiciliar la nómina refers to the act of setting up the direct payment of your monthly salary into a specific bank account, which effectively becomes your payroll account in Spain.

Spanish banks actively seek existing or new customers to choose them with enticing offers, as nóminas are one of the safest ways of guaranteeing regular income for the bank.

It’s a scenario that can prove advantageous for customers, offering them an easier way to open a new bank account or enjoy financial or savings products that were previously unavailable to them or at a cost.

But the central bank of Spain – El Banco de España – on Sunday blew the whistle on the financial entities it watches over, warning customers they should review all the nómina contract conditions in detail, especially clauses relating to permanencia (the minimum amount of time you have to keep the account open if you want to avoid financial penalties).

Spanish money website helpmycash.com states that this minimum fidelity period varies between banks, going from 12 to 48 months, and there can be other conditions attached to this permanencia.

The financial penalties are not made readily available online by Spain’s top banks but they usually depend on how early the account holder has closed the nómina account.

According to the Bank of Spain, “you can close your account at any time without prior notice.

“There is no charge for closing an account if it was opened with indefinite duration or if it has been held for more than six months in the case of a fixed-duration account.

“If the terms and conditions include the payment of periodic account fees and charges, you will have to pay the proportional part accrued when you close the account.

“However, the bank will have to reimburse you for the proportional part of any fees paid in advance.

“When closing an account, the bank must inform you of any outstanding fees you need to pay, such as the account maintenance fees or transaction charges, to ensure that your account is not overdrawn.”

In their latest statement on its banking customer portal, the Bank of Spain advises customers to “check the rest of the conditions, such as possible commissions of the account, commissions for associated services (transfers), commissions for credit or debit card.

“The fact that a bank offers you more than any other bank to set up your payroll does not mean that its offer is the best overall, it may be the cheapest but it doesn’t necessarily suit your needs best.”

Not all Spanish banks require customers with nómina accounts to keep them open for a minimum amount of time, with ING and Bankinter currently offering “sin permanencia” payroll accounts.
SEE MORE:

Banking in Spain

Published thelocal.es 24 August 2021

Return to Home Page

FreeCurrencyRates.com

4everspain Mobile

responsive-design4everspain Mobile. Access property listings with a single click. Visit 4everspain.com with your Smartphone or Tablet.

At 4everspain, we have optimised the design of our website in order for you to visit us, anytime anywhere. 4everspain mobile is a clean and fresh approach to finding your dream home in Spain, bring properties for sale at all price levels to the palm of your hand.
Click “HERE” and add a link to your Phone or Tablet today.

LIBRARY

A collection of articles on everything to do with buying and selling property in Spain.

PROPERTY INFORMATION

Latest Property Information from across Spain. Useful Legal and Financial Information.

Money Corp

Return to top of page

Copyright © 2022 · 4everspain.com · Website Management by · Urci Design

×

    Welcome to 4everspain Support.
    Fill in your details below and we will get back to you.
    Full Name: (REQUIRED)
    Email Address: (REQUIRED)
    Subject:
    Message or Question: