Do not open accounts in La Caixa

If you come to Barcelona, Spain and you need to open a bank account – do not open account in La Caixa. This bank has very high commissions and also exchange rates between Euro and other currencies.

Before a while when I arrived in Barcelona I made a mistake which left unnoticed for 4 years. My mistake was to open a bank account at the nearest bank to my office. In Barcelona La Caixa always is the closest bank – they have a branch almost at every corner. However they have very very high commissions. For example:

Operation
La Caixa*
Other banks (Ing Direct)
Debit Card
15 Euros/year
0 Euros
Credit Card
40 Euros/year
 
Withdraw money from ATM
 
0 Euros in 4B network
          La Caixa
0 Euros
 
          Servired
1,5% (min 0.80 Euros)
 
          Other (in Spain)
4.25% (min 3.50 Euros)
 
          EU
4.25% (min 3.50 Euros)
2 Euros
Money Transfer
 
 
          La Caixa
0 Euros
0 Euros (if < 50k)
          Other banks in Spain
0.25% (min 2.75 Euros)
0 Euros (if < 50k)
          EU
0.25% (min 2.75 Euros)
0 Euros (if < 50k)
          Non EU
0.6% (min 15 Euros)
36 Euros (but not sure)
Receive Transfer
 
 
          From EU
 0 Euros
0 Euros
          From Non-EU
12 Euros
0 Euros
Exchange rate
About 4% less than in www.oanda.com
Don’t know

*http://multimedia.lacaixa.es/lacaixa/ondemand/portal/tarifasycomisiones/2100i00d.pdf

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *