In the present study we analyze the effect of bias adjustments in both meteorological and streamflow forecasts on skill and reliability of monthly average streamflow and low flow forecasts. Both raw and pre-processed meteorological seasonal forecast from the European Center for Medium-Range Weather Forecasts (ECMWF) are used as inputs to a spatially distributed, coupled surface – subsurface hydrological model based on the MIKE SHE code in order to generate streamflow predictions up to seven months in advance. In addition to this, we postprocess streamflow predictions using an empirical quantile mapping that adjusts the predictive distribution in order to match the observed one. Bias, skill and statistical consistency are the qualities evaluated throughout the forecast generating strategies and we analyze where the different strategies fall short to improve them. ECMWF System 4-based streamflow forecasts tend to show a lower accuracy level than those generated with an ensemble of historical observations, a method commonly known as Ensemble Streamflow Prediction (ESP). This is particularly true at longer lead times, for the dry season and for streamflow stations that exhibit low hydrological model errors. Biases in the mean are better removed by postprocessing that in turn is reflected in the higher level of statistical consistency. However, in general, the reduction of these biases is not enough to ensure a higher level of accuracy than the ESP forecasts. This is true for both monthly mean and minimum yearly streamflow forecasts. We highlight the importance of including a better estimation of the initial state of the catchment, which will increase the capability of the system to forecast streamflow at longer leads.