British Expats
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British Expats (https://britishexpats.com/forum/)
-   Spain (https://britishexpats.com/forum/spain-75/)
-   -   Caixabank charges (https://britishexpats.com/forum/spain-75/caixabank-charges-946039/)

anagerbera Nov 4th 2022 7:34 pm
Caixabank charges
 
Hi, I am new to this forum and I would like to ask about Caixabank charges. I would like to transfer a large amount from my Barclays UK current account to my Caixabank current account. I am intending to use a foreign exchange company (i.e. Wise, Currency Direct, or some other...). Does anyone know if Caixabank (formerly "La Caixa") charges you for receiving the money into their account? I am worried about any hidden costs. Any bad experiences with that? Many thanks for any suggestions.!

Ronnyone Nov 4th 2022 8:57 pm
Re: Caixabank charges
 
Originally Posted by anagerbera (Post 13152449)
Hi, I am new to this forum and I would like to ask about Caixabank charges. I would like to transfer a large amount from my Barclays UK current account to my Caixabank current account. I am intending to use a foreign exchange company (i.e. Wise, Currency Direct, or some other...). Does anyone know if Caixabank (formerly "La Caixa") charges you for receiving the money into their account? I am worried about any hidden costs. Any bad experiences with that? Many thanks for any suggestions.!
They wont charge you. Not sure how general this is but in the last week myself, my ex and a co-worker had either all the account or part blocked by Caixa. I could only unblock by going to branch. I was required to sign a disclosure form stating where my deposits were from and my work. My wife needed to present her residency card ( again). In the queue ( 1.5 hours!!!) Others also had blocked accounts...so just check all is okay before trying to transfer. Blocked accounts are impossible to unblock unless you go to your branch!! Caixa are absolutely terrible!!!!

anagerbera Nov 4th 2022 9:14 pm
Re: Caixabank charges
 
Oh dear! What a bad experience! I wonder why the banks are so awkward with clients... thanks for letting me know, I'll take it into account. I am concerned because somewhere on Caixabank (formerly La Caixa) website, I think I read that they charge 0.40% for receiving money into their accounts...! what a rip-off if that would be true!

Alectryon Nov 4th 2022 9:26 pm
Re: Caixabank charges
 
One of my UK pensions has been paid directly to my account monthly for 15 years with no charges whatsoever. I transfer any extra money I need from my UK bank account to my account,with Caixa, no charges.

bobd22 Nov 4th 2022 9:36 pm
Re: Caixabank charges
 
It would be unusual to be charged by Spanish Bank to transfer in euros. Most of the transfer companies guarantee no transfer fee by receiving bank. I have been transferring money from UK to my Spanish account with Cajamar in euros for many years and never been charged to recieve it.

bobd22 Nov 4th 2022 9:42 pm
Re: Caixabank charges
 
Originally Posted by Ronnyone (Post 13152466)
They wont charge you. Not sure how general this is but in the last week myself, my ex and a co-worker had either all the account or part blocked by Caixa. I could only unblock by going to branch. I was required to sign a disclosure form stating where my deposits were from and my work. My wife needed to present her residency card ( again). In the queue ( 1.5 hours!!!) Others also had blocked accounts...so just check all is okay before trying to transfer. Blocked accounts are impossible to unblock unless you go to your branch!! Caixa are absolutely terrible!!!!
Unfortunately it seems quite common for Spanish banks to block accounts. It has happened to me a few times. You have to keep a close eye out for any online messages requesting something from you if not responded to in x number of days account blocked. It seems to happen more in Spain than the UK. They will also query any large payments in or out and as you say want information re the payment.

Ronnyone Nov 4th 2022 10:25 pm
Re: Caixabank charges
 
Originally Posted by bobd22 (Post 13152475)
Unfortunately it seems quite common for Spanish banks to block accounts. It has happened to me a few times. You have to keep a close eye out for any online messages requesting something from you if not responded to in x number of days account blocked. It seems to happen more in Spain than the UK. They will also query any large payments in or out and as you say want information re the payment.
Yes this is very true. It is almost always because you fail to notice notices sent to your app or messages which are usually in spanish requesting you do something fairly innocuous like ticking a box to say you agree to something . The key is to be able to identify documents stating changes that usually require agreement and confirming it before a set date. However be wary of emails saying that your account will be blocked unless you do something to which you are given a link leading to a fake caixa website which requires you to sign in. These are scams. Only use the app or go to the site on your browser

anagerbera Nov 4th 2022 10:50 pm
Re: Caixabank charges
 
Thanks for that. Sorry to ask again, dDo you use one of these foreign currency companies (i.e. "Wise", "Currency Fair"... ) as intermediary? or do you send the money directly, from the UK bank to the Spanish bank? Thanks very much.

anagerbera Nov 4th 2022 10:51 pm
Re: Caixabank charges
 
Thanks a lot... I feel more reassured!

anagerbera Nov 4th 2022 10:54 pm
Re: Caixabank charges
 
Thanks a lot for that. In my case I would be transferring my savings from having worked (i.e. salary), so I hope that it would be enough to show them my employment contract and some bank statements... I hope! Kind regards.

anagerbera Nov 4th 2022 10:55 pm
Re: Caixabank charges
 
Understood, thanks a lot for the advice. Kind regards.

bobd22 Nov 4th 2022 11:30 pm
Re: Caixabank charges
 
Originally Posted by anagerbera (Post 13152494)
Thanks for that. Sorry to ask again, dDo you use one of these foreign currency companies (i.e. "Wise", "Currency Fair"... ) as intermediary? or do you send the money directly, from the UK bank to the Spanish bank? Thanks very much.
I use currency fair for quite some time now but before that used various different options and never been charged to receive the euros in Spain.

bobd22 Nov 4th 2022 11:31 pm
Re: Caixabank charges
 
Originally Posted by Ronnyone (Post 13152486)
Yes this is very true. It is almost always because you fail to notice notices sent to your app or messages which are usually in spanish requesting you do something fairly innocuous like ticking a box to say you agree to something . The key is to be able to identify documents stating changes that usually require agreement and confirming it before a set date. However be wary of emails saying that your account will be blocked unless you do something to which you are given a link leading to a fake caixa website which requires you to sign in. These are scams. Only use the app or go to the site on your browser
Totally agree

Kayann Nov 5th 2022 3:08 am
Re: Caixabank charges
 
We have transferred from our Wise account to Caixa account and there were no charges.

spainrico Nov 5th 2022 4:27 am
Re: Caixabank charges
 
I always use Wise - https://wise.com/gb/compare/


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