Students - Year abroad

Daliah

I have been in Spain right now for the last 7 weeks. Paying nearly everything with the Starling debit card, generally through ApplePay. On the rare occasions I need a credit card, it's my Halifax Clarity. I haven't had any need to pay by DD but I paid a handful of invoices by bank transfer. I have encountered not one single problem. I haven't touched my "real Euro" debit card, or my Fineco EUR debit card, once in those 7 weeks, though I do have both should I ever need them.

I prefer the easy life I get with Starling. No foreign language required to understand/manage my banking, as it is at times with Fineco, or as it would most likely be with a local bank account. No app or online banking cluttered up with investment marketing as it is with Fineco. A single debit card that I can use with EUR or GBP, as needed. 

Poor OP, they are probably quite confused now, after all the conflicting opinions.

Marchitiello

OP’s son is going to study/work there. 

The criteria that you keep banging about that makes Starling works for you vs other options mostly differ from the criteria OP’s case study presented. 

Language should not be an issue with opening a local account, best option for usability and best exchanged currency either way (GBP to EUR to finance first 7 months of studies, EUR to GBP to return any left over funds into the UK account).

when living for extended period of time in a country, online purchases for delivery to the temporary address are common and Spanish sites often dislikes UK bins issued cards. 

As a side note, when I was younger and a University student,  I often helped EU students joining my university in the UK settling in and the first things I got them to do within a week they were here, was to open a bank account and registered for an NI number.

this Is the same recommendation I would give anyone going to Spain to study/work (again they need to register for a Spanish ID number - it is actually called different for non permanent residents but it is needed to work there and can be used to open a local bank account). 

[Deleted User]

Daliah said:

I have been in Spain right now for the last 7 weeks. Paying nearly everything with the Starling debit card, generally through ApplePay. On the rare occasions I need a credit card, it's my Halifax Clarity. I haven't had any need to pay by DD but I paid a handful of invoices by bank transfer. I have encountered not one single problem. I haven't touched my "real Euro" debit card, or my Fineco EUR debit card, once in those 7 weeks, though I do have both should I ever need them.

I prefer the easy life I get with Starling. No foreign language required to understand/manage my banking, as it is at times with Fineco, or as it would most likely be with a local bank account. No app or online banking cluttered up with investment marketing as it is with Fineco. A single debit card that I can use with EUR or GBP, as needed. 

Poor OP, they are probably quite confused now, after all the conflicting opinions.

With a Little England IBAN, having always to check for DCC and local ATM surcharges that all come with Starling option - they may not get an 'easy life' that you do as a Brit on holiday.

Daliah

Marchitiello said:

OP’s son is going to study/work there. 

How do you know that I am not studying and/or working in Spain?

Deleted_User said:

With a Little England IBAN, having always to check for DCC and local ATM surcharges that all come with Starling option - they may not get an 'easy life' that you do as a Brit on holiday.

My "little England IBAN" has not caused any surcharges. And why do you assume I am a Brit on holiday?


But as it happens, I had 2 payments from the same "real" Euro bank made to me on Tuesday morning. One to my Fineco, one to my Starling bank, both for the same amount, just under 100 Euros. The money arrived in Starling on Wednesday afternoon, and as of right now, I am still waiting for the money to arrive in Fineco. It's no sweat as I am not desperate for the money but it's not exactly an ad for Fineco.

Marchitiello

Daliah said:

Marchitiello said:

OP’s son is going to study/work there. 

How do you know that I am not studying and/or working in Spain?


But as it happens, I had 2 payments from the same "real" Euro bank made to me on Tuesday morning. One to my Fineco, one to my Starling bank, both for the same amount, just under 100 Euros. The money arrived in Starling on Wednesday afternoon, and as of right now, I am still waiting for the money to arrive in Fineco. It's no sweat as I am not desperate for the money but it's not exactly an ad for Fineco.

I do not know if you work or study in Spain, my point is not where you are based ow what you do, but your advice/ positive points sounded clearly from a traveller point of view and did not include consideration of visiting three different countries, of which one, Spain is known to have issues with UK IBANs (I used to report every Spanish organisations that gave me problems, to the old EU dedicated office), needed to register for Spanish ID and get paid, Potentially paying bills etc,  ATM withdrawal fees.

my ultimate advice is to open a bank account in Spain for sure and use Fineco to finance the first 7 months studies in Portugal and France, and to convert whatever is left from the work experience back in GBP.

Fineco slow timelines for payments and currency conversion are the only real pain for that account, otherwise it would be unbeatable as multi currency account, but for what the OP presented as “case study”, it is the better option (could be pre-financed and converted before travelling and topped up whilst the son is there) 

Daliah

Marchitiello said:

Fineco slow timelines for payments and currency conversion are the only real pain for that account

Glad you are finally admitting that Fineco comes with 'real pain'.  Brilliant (not) for a student who is skint and whose parents have just sent an emergency payment in GBP. Even if the GBP transfer did arrive within a couple of hours in Fineco (it doesn't, in my experience), it then takes 2 working days until the cash-strapped student gets his Euros. All that for a few cents more (currently you'd get 2.47 Euro more at Fineco than at Starling for exchanging £500). 

Of course, if the student had a Starling account, he could have his money within the hour.......as I said earlier, I prefer the easy life I get with Starling. It's only on really large amounts that I use Fineco.

I'll leave the discussion here so you can have the last word.

[Deleted User]

Daliah said:

Marchitiello said:

OP’s son is going to study/work there. 

How do you know that I am not studying and/or working in Spain?

Deleted_User said:

With a Little England IBAN, having always to check for DCC and local ATM surcharges that all come with Starling option - they may not get an 'easy life' that you do as a Brit on holiday.

My "little England IBAN" has not caused any surcharges.
And why do you assume I am a Brit on holiday?


But as it happens, I had 2 payments from the same "real" Euro bank made to me on Tuesday morning. One to my Fineco, one to my Starling bank, both for the same amount, just under 100 Euros. The money arrived in Starling on Wednesday afternoon, and as of right now, I am still waiting for the money to arrive in Fineco. It's no sweat as I am not desperate for the money but it's not exactly an ad for Fineco.

Because you've previously indicated that you're oldish with a chunk of cash saved up - even in your old Colsten profile.

Spanish Banks are known to charge when sending to 'Little England' IBANs (as they are now non-EEA), UK cards are frequently subject to Dynamic currency conversion (DCC) to GBP and are regularly surcharged at Spanish ATMs. All of three issues would apply to a Starling Euro account. 

Daliah

Deleted_User said:

Because you've previously indicated that you're oldish with a chunk of cash saved up 

What a horribly ageist and prejudiced comment. Just so you know, there is no age limit to studying or working, in the UK or abroad. Nor does having savings and investments disqualify people from studying and/or working. But you know that.