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Old Dec 3rd 2017, 10:19 am   #1
Pilou Female
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Default Bank costs Millennium

We opened a bank account at Millennium.
We transferred within SEPA (EURO-ZONE) money to our bank account at Millennium.
They deducted "MMD despensas de envio para balcao": EUR 12.30.

When we transfer the money to buy the house, that will cost over 200 EUR then. On top of that we need to pay for the bank cheque (that is normal).

We asked if it would cost money if we transfer euros into our bank account: answer "no".

Have I chosen the wrong bank?
Very difficult to accept this.
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Old Dec 3rd 2017, 1:36 pm   #2
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Default Re: Bank costs Millennium

I haven't a clue what the MMD is but it seems that you may have been charged for arranging to send something to or from a bank branch. Banks don't really want to have to deal with people anymore, they just want your money in digital form. You'll get charged for withdrawing your own money over the counter in a branch, rather than using a Multibanco machine.
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Old Dec 3rd 2017, 2:48 pm   #3
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Default Re: Bank costs Millennium

Quote:
Originally Posted by Pilou View Post
We opened a bank account at Millennium.
We transferred within SEPA (EURO-ZONE) money to our bank account at Millennium.
They deducted "MMD despensas de envio para balcao": EUR 12.30.

When we transfer the money to buy the house, that will cost over 200 EUR then. On top of that we need to pay for the bank cheque (that is normal).

We asked if it would cost money if we transfer euros into our bank account: answer "no".

Have I chosen the wrong bank?
Very difficult to accept this.
There are a set list of charges banks can make, not all of them do.
https://ind.millenniumbcp.pt/pt/Arti...ecario/FCD.pdf

The cheapest form is always to do it via Internet banking.

As a "By the Way" just done a transfer La Caixa to Novo Banco with no charge
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Old Dec 3rd 2017, 7:30 pm   #4
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Default Re: Bank costs Millennium

"You'll get charged for withdrawing your own money over the counter in a branch"
We dont get charged at our Millennium bank.
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Old Dec 3rd 2017, 7:36 pm   #5
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Default Re: Bank costs Millennium

Thanks for your comments.
We will go to the bank and ask why we pay this.
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Old Dec 3rd 2017, 10:42 pm   #6
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Default Re: Bank costs Millennium

Seems very odd.
When we transferred the money over from the UK account to our Millennium account we weren't charged anything by Millennium, just £20 by Natwest (fixed fee for anything over £10,000)
It must depend on how you make the transfer?
I'm guessing this is from a Spanish bank account?

Last edited by AliceCaroline; Dec 3rd 2017 at 10:47 pm.
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Old Dec 3rd 2017, 10:45 pm   #7
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Default Re: Bank costs Millennium

Transferred $100,000 from Investors bank (USA) to millennium (PT). Investors charged $40 USD.
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Old Dec 4th 2017, 8:45 am   #8
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Default Re: Bank costs Millennium

I think I know what it is. It might be the fee for sending the new mastercard to the bank instead of to our house.
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Old Dec 4th 2017, 10:38 am   #9
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Default Re: Bank costs Millennium

I'm with Novo Banco and I use internet banking for almost everything except withdrawing cash from ATMs. I regularly transfer money to other people's accounts using the bank's website and there are never any charges. They charge me €5 a month for looking after my money; that's my only niggle.
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Old Dec 4th 2017, 11:08 pm   #10
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Default Re: Bank costs Millennium

Quote:
Originally Posted by AliceCaroline View Post
Seems very odd.
When we transferred the money over from the UK account to our Millennium account we weren't charged anything by Millennium, just £20 by Natwest (fixed fee for anything over £10,000)
It must depend on how you make the transfer?
I'm guessing this is from a Spanish bank account?
NatWest and Millennium have an agreement, I remember getting a letter about it a few years back.
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