Bank commissions in Spain

If you're North American, you may be shocked by the high fees charged by banks in Spain. The Bank of Spain sets maximum fees that banks may charge their clients. You must negotiate the fees or quite possibly the maximum fees will be applied. Naturally, the strength of your bargaining position depends on how much you use your account. The agreements you reach may expire after a year, so we recommend going each year to renegotiate the fees.

Since many bank fees are based on a percentage, if you're sending or receiving a large international transfer, to buy a house for example, you should negotiate the fees on this particular transfer. For international transfers, you can choose to pay all bank commissions, have the other bank pay all commissions, or share the commissions. Be very careful about paying all commissions for a large transfer, since you are not a client of the other bank. It is generally best to choose shared commissions.

The following are sample bank commissions from La Caixa.

Annual charge for account	18 euros
Annual charge per debit card	12 euros

National transfers	Commission	Minimum	Maximum
Transfers between "la Caixa" accounts	Free transaction
Transfers to other entities	0.35%	3.00 euros	100 euros
Transfers between "la Caixa" accounts in foreign currency	0.20%	3.01 euros

International Transfers		Commission	Minimum	Maximum
Amount < or = 50,000 euros And euro currency And EU country of destination	Destination details complete	0.35%	3.00 euros	/
	Destination details incomplete	0.55%	19.00 euros	/
Transfers with all commissions, except those of "la Caixa", to be paid by the beneficiary, or all to be paid by the beneficiary Or Amount > 50,000 euros Or any amount in currency other than the Euro Or any amount in euros whose country of destination does not belong to the E.U.	Destination details complete	0.50%	12.00 euros	12 euros per transfer
	Destination details incomplete	0.60%	18.00 euros	12 euros per transfer
Transfers with all commissions to be paid by the applicant Or Amount > 50,000 euros Or any amount in currency other than the Euro Or any amount in euros whose country of destination does not belong to the E.U.	Destination details complete	0.70%	27.00 euros	12 euros per transfer
	Destination details incomplete	0.80%	36.00 euros	12 euros per transfer

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