The Great Spanish Bank Debate
There aren't any credible debates on this one, because everyone has a strong opinion on each bank - but none of them are valid for YOU. Why?
In Spain, there are a few major players in the banking game. You have Santander, which is the largest. Followed by BBVA, Banco Sabadell, Caixa, the Cajas (Caja Rural, Ibercaja, Unicaja, etc), Bankinter, Abanca... there are a few that escape me. But chances are you've heard of a handful of them, and they exist in your city in Spain. Everyone has a horror story about one of them, too. David hates Santander because the bank manager wouldn't let him have a joint account with his wife and no one knows why. Jennifer can't stand BBVA, because she can't believe how incompetent the staff are there. And John will tell you to stay away from Ibercaja because they take their sweet time to process any paperwork for you.
The problem with the advice from these people? They are NOT telling you anything about your specific branch of these banks. They are complaining about the staff and experience of the SPECIFIC BRANCH THAT THEY WENT TO in their city. Every branch is staffed with completely different people, with another set of standards, and even between 2 Santander branches in the same city, 2km away from one another - you could have 2 completely different experiences.
When I first moved to Spain, I walked into a Santander branch in my city. I met the manager, and his assistant, and I explained that I needed a bank account - I had NO RESIDENCY CARD yet and my application for residency had not even been approved, so TECHNICALLY I was still in Spain as a "tourist". I explained that I was renting for the time being and that my husband and I planned to buy a house once our residency was all finished, and raise our kids here in this amazing little city. Not only did the manager open a joint account for us immediately, using just our passports and NIE number without any residence or residence card... he waived all account limits for moving money in and out. The account had zero fees and no minimum balance requirement.
So does that mean that Santander is the best and easiest bank in all of Spain? Nope! I know plenty of people who have had the complete opposite experience with their branch of Santander. And even the branch I was with has 2 STARS on Google. 2 stars!
Now, I am no longer with Santander, because when the time came to get a mortgage, they weren't even in the running as one of the banks who offered great terms. Now, I have 2 accounts, a credit card, and a mortgage with Caja Rural (I also have through them: life insurance, homeowners insurance, and their home security suite). The manager is a SAINT, and anytime I need something I just shoot him an EMail and he will get it ready, I stop in and sign it and we're all set. I am not wealthy, my house was not very expensive, and I do not have loads of money in the bank. There is no financial reason for them to be so nice to me, I just live in a fabulous small city and get along well with everyone - and love the folks here at Caja Rural. Will YOUR Caja Rural be the same? I hope so! But it isn't likely.
You have to GO TO YOUR LOCAL BRANCHES. Do not ask the Internet what the best bank is, because they can only tell you about THEIR branch. They will say things like, "BBVA SUCKS, THEY ARE PIRATES!" but they are only talking about their local branch.
The PEOPLE make the business. This is true for everyone - seamstresses, house cleaners, gardeners, hairdressers and barbers... "the best" one is the one with the people who treat you great and who you feel comfortable with. Banks are the same. If you choose poorly, change to another one! Nothing you do has to be the last one or the only one, and you might have to kiss a few frogs to find your prince. Don't ask the internet - GO FIND YOUR PEOPLE.
