Bank charges
#31
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Please can anyone help?
We transferred 71,000 euros from UK to our Spanish bank account with Banco Popular, our lawyer then had a cheque written out on our behalf to pay for our new house.
Banco Ppular have taken 554 euros in fees? When I phoned the helpline I was told if I am not happy I must negotiate with my local branch?
Not that easy when I have no idea what is reasonable? and my Spanish is not very good (which I accept is my problem)
The helpline said 0.35% is the usual fee after 50,000 euros then the bank can take what they like from your account??
Any advice much appreciated
Thanks
We transferred 71,000 euros from UK to our Spanish bank account with Banco Popular, our lawyer then had a cheque written out on our behalf to pay for our new house.
Banco Ppular have taken 554 euros in fees? When I phoned the helpline I was told if I am not happy I must negotiate with my local branch?
Not that easy when I have no idea what is reasonable? and my Spanish is not very good (which I accept is my problem)
The helpline said 0.35% is the usual fee after 50,000 euros then the bank can take what they like from your account??
Any advice much appreciated
Thanks
We are with Banco Popular in Ayamonte and have just completed on our plot so have been transferring large amounts recently.
We use Moneycorp or Curriencies4less to buy the euro and they both guarantee no charges if the amount is above £5000 but you must quote the IBAN/Swift code for your branch (Swift code is now old hat). There has been the odd mistake but on one I told the branch manager I did not think I should be paying a fee to deposit my own money and they withdrew it and on the other he said that above €10000 he had to make a small charge and then Moneycorp refunded the €10.
To buy the bank cheque for the completion I talked to the manager before the event and he said the charge would be €18 for the cheque and certificate to show that the money involved had all been legally imported, the counter assistant said the charge would be €25 when I asked for the cheque to be made out and I referred him to the manager who immediately reduced it to €18.
Talk to your manager and do not be afraid to say that you will take you business elsewhere if you do not get a refund of most of the charges!
Regards,
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John.
Note The total cost for the completion money transaction of exchange, moving the money to Spain and buying the certified cheque was €18.
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Last edited by EsuriJohn; Mar 10th 2007 at 7:21 am.
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