Changing banks
Jun 29th 2018, 2:48 pm
#1
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Changing banks
We recently bought an apartment near Torrevieja and was set up by our estate agent and solicitor with an account with Sabadell. The branch we were set up is at La Zenia, quite a way from our place. We think we ought to change branches to one closer, at Los Montisinos. Please can anyone advise me as to whether this is an easy process. We are also considering even changing Banks as some of the charges for running our account are quite high. Likewise, is it an easy process to change banks. Thanks for any thoughts or advice.
Jun 29th 2018, 3:28 pm
#2
Joined: Jun 2006
Location: Granada Costa
Posts: 10,894
Re: Changing banks
We recently changed from Banco Popular to Caja Rural with no problems at all. The new bank changed all our direct debits etc. It could not have been easier. We then just closed our old account.
Jun 29th 2018, 3:40 pm
#3
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Re: Changing banks
Thank you very much. Did your new bank also arrange for the transferring of your funds.
Jun 29th 2018, 4:01 pm
#4
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Location: Granada Costa
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Re: Changing banks
No, because I didn't ask them to. I just ran down the old account before I closed it, but I am sure they would have done.
Jun 29th 2018, 4:32 pm
#5
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Re: Changing banks
If you are with Sabadell Branch change is a simple exercise, but look at their "Expansion" account to see if it fits your needs, no charges at all.
Jun 30th 2018, 6:38 am
#6
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Re: Changing banks
Although I no longer live in Torrevieja I still have my Sabadell branch there (Paseo Vistalegre) can I suggest you go into that branch and ask to speak to Belinda (manager) or Rosa on one of the desks - they are both very helpful, speak good English and can help resolve your issues. I have banked with them (Solbank originally) for 18 years.
Jun 30th 2018, 9:39 am
#7
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Re: Changing banks
Thank you all very much. I am over next week and will sort things out then. Many thanks again.
Jun 30th 2018, 4:46 pm
#8
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Re: Changing banks
This is not a simple exercise! Due to other fee problems I am opening an account with a different bank.
Jul 1st 2018, 8:50 am
#9
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Re: Changing banks
I think that is what I might have to do. Thank you for your info
Jul 1st 2018, 9:07 am
#10
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Re: Changing banks
Changing branch for banks in Spain does seem to be something they don't like to do. I looked into this as our branch is not the most convenient but was set up years ago by our solicitor when we bought. The bank said they don't change branches routinely because you can use any branch for the majority of things. However certain things do have to be done at your registered branch. The example they gave of when it would be necessary to change your branch would be say if you moved house from Granada to Malaga or similar or if they actually close your branch. It is workable for us but not the most convenient.
Jul 1st 2018, 11:44 am
#11
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Re: Changing banks
Thank you. Apart from trying to change branches, I am also looking into bank charges. Sabadell are charging us 30 euros a quarter to run the account. Is this a common amount, or do other banks charge less. As well as Sabadell having a branch in Los Montisinos, Caja Rural are also there.
Jul 1st 2018, 12:52 pm
#12
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Re: Changing banks
Our account is with Cajamar I think we pay 15 euros a quarter.
Jul 1st 2018, 2:54 pm
#13
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Re: Changing banks
Wow...a big difference
Jul 1st 2018, 10:00 pm
#14
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Re: Changing banks
Thank you. Apart from trying to change branches, I am also looking into bank charges. Sabadell are charging us 30 euros a quarter to run the account. Is this a common amount, or do other banks charge less. As well as Sabadell having a branch in Los Montisinos, Caja Rural are also there.
If you are resident there are a number of banks offering fee free banking.
Sabadell offer the "expansion" account, fee free banking if you pay in your salary/income (min €3,500 per month) or deposit over €75,000 in their savings products ( https://www.bancsabadell.com/cs/Sate...0006714279/en/ )
Santander have a 123 account in Spain, fees are €3 per month and it pays 3% interest. However, there are a number of hoops you must jump through and if your unable to comply with their T&Cs you lose the 3% interest and pay a maintenance fee of €8 per month....see https://online.bancosantander.es/landings/cuenta-123/?idm=5u-2z1ved&gclid=CjwKCAjw9-HZBRAwEiwAGw0QcZLsEt_ISK6FdN11aUCTz7DZ3Ae7DaJdgkmH 9d5o53NruOKy2_prdhoCG-MQAvD_BwE&dclid=CPigoIPx_tsCFQSMUQodxOIDFQ
If you are non resident and find a truly fee free bank, that is easy to operate online, please let us know.
******EDIT Sabadell expansion account without premium https://www.bancsabadell.com/cs/Sate...1346505022/en/ ......only €700 per month. (sorry) *******
Last edited by bolton wanderer; Jul 1st 2018 at 10:18 pm.
Jul 1st 2018, 10:13 pm
#15
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Re: Changing banks
Wow Sabadell have changed those T & Cs for the Expansion since I got ours, no way I qualify now, but I still have the account.
