Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Disgusted with Sabadell

Disgusted with Sabadell

Old Sep 26th 2020, 4:00 pm
  #1  
BE Forum Addict
Thread Starter
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 1,952
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Disgusted with Sabadell

Has anyone else been hit with huge bank charges with absolutely no notice or warning from them?

And if so what did you do?

I thought pensioners got free banking - or has that changed?
spainrico is offline  
Old Sep 26th 2020, 4:09 pm
  #2  
Forum Regular
 
Joined: Feb 2020
Location: Nerja
Posts: 196
Joppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond reputeJoppa has a reputation beyond repute
Default Re: Disgusted with Sabadell

Not specifically about Sabadell, but with almost all banks. Charges keep going up and are levied arbitrarily. I am opening an online account with Spanish IBAN, which is free.
Joppa is offline  
Old Sep 26th 2020, 4:14 pm
  #3  
BE Enthusiast
 
stevesainty's Avatar
 
Joined: Jan 2011
Location: Torrevieja Costa Blanca South
Posts: 309
stevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to behold
Default Re: Disgusted with Sabadell

If you have an expansion account with Sabadell and you pay in at least 700 euros per month and
1. the 700 euroes in part includes a pension deposit or
2. you have taken out an insurance policy with Sabadell or
3. you have an investment/ savings plan with Sabadell

then you have free banking, otherwise not.

All banks have been losing money because of the dire straits of the investment markets and they need to reduce costs and increase revenues where they can. Expats who are used to free banking in UK are easy targets.
stevesainty is offline  
Old Sep 26th 2020, 4:16 pm
  #4  
Forum Regular
 
Joined: Nov 2008
Posts: 54
del.Almendro will become famous soon enoughdel.Almendro will become famous soon enough
Default Re: Disgusted with Sabadell

If you're UK resident just get a Halifax Clarity credit card and pay all your bills in Euros from the UK.

We dumped our Spanish bank yonks ago and have had no problems.

I guess you have to have a Spanish bank account to service a mortgage, or if you are ES resident.
del.Almendro is offline  
Old Sep 26th 2020, 4:20 pm
  #5  
BE Forum Addict
Thread Starter
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 1,952
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Re: Disgusted with Sabadell

Thank you but I am not UK resident.

Regarding online banks the reviews online for ING are atrocious.

I will go and see Sabadell next week and see what I can negotiate.
spainrico is offline  
Old Sep 26th 2020, 4:36 pm
  #6  
BE Enthusiast
 
stevesainty's Avatar
 
Joined: Jan 2011
Location: Torrevieja Costa Blanca South
Posts: 309
stevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to behold
Default Re: Disgusted with Sabadell

If you want a totally free bank that is comparable with both UK an Spanish Market then you need a totally online bank. We have a borderless account with Transferwise which allows you to deposit funds in Sterling, Euros and US dollars. You can convert your deposits into the other currencies and still keep them in your Transferwise wrapper. When you need to transfer euros into your Spanish account it costs you 63 centimos per transfer regardless of the amount transferred. The only other charges are the currency transfers which are transparent and you know exactly how much you will receive in the target currency before you accept. A borderless account will also allow transfers from UK accounts or pension providers with a UK IBAN number/sort code and account number and also direct debits/standing orders/ direct payments into Spanish Bank accounts/ businesses using a Belgian IBAN which is acceptable in Spain ( if you are insistent).
stevesainty is offline  
Old Sep 26th 2020, 4:46 pm
  #7  
BE Forum Addict
Thread Starter
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 1,952
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Re: Disgusted with Sabadell

Thanks Steve, this is really interesting and I already use them for transfers UK>Spain.

Sorry can I clarify - 'When you need to transfer euros into your Spanish account...' You mean the Euros account part of the Transfer wise or say Sabadell??

Just trying to get my head around it!
spainrico is offline  
Old Sep 26th 2020, 4:49 pm
  #8  
BE Forum Addict
 
Joined: Aug 2006
Location: Velez-Malaga
Posts: 3,656
Lynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond repute
Default Re: Disgusted with Sabadell

Originally Posted by spainrico View Post
Has anyone else been hit with huge bank charges with absolutely no notice or warning from them?

And if so what did you do?

I thought pensioners got free banking - or has that changed?
What charges have you had? If it a charge of €15 per quarter, Sabadell did actually give notice of this charge being introduced before the end of last year (I started a thread at the time to give people a heads up about it).

https://britishexpats.com/forum/spai...charge-928541/

I have an Expansion Account with them and transfer at least €700 per month into it, but as I don't have a directly deposited pension at the moment nor an insurance product or investment account with them, I have to pay this charge. When I start to receive my UK state pension in 2022, I'll be able to have that paid directly to my Sabadell account so should not have to pay the charge any longer (assuming the rules stay the same, that is, everything could well change again before then).
Lynn R is offline  
Old Sep 26th 2020, 4:52 pm
  #9  
BE Enthusiast
 
stevesainty's Avatar
 
Joined: Jan 2011
Location: Torrevieja Costa Blanca South
Posts: 309
stevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to beholdstevesainty is a splendid one to behold
Default Re: Disgusted with Sabadell

Originally Posted by spainrico View Post
Thanks Steve, this is really interesting and I already use them for transfers UK>Spain.

Sorry can I clarify - 'When you need to transfer euros into your Spanish account...' You mean the Euros account part of the Transfer wise or say Sabadell??

Just trying to get my head around it!
The Euro part of your borderless account. Bearing in mind that we receive free banking from Sabadell. You can use a Transferwise Borderless account, independent of any Spanish bank account, if your Direct Debits/ standing orders are accepted using a Belgian IBAN number (which is totally acceptable throughout Europe) .
stevesainty is offline  
Old Sep 26th 2020, 4:59 pm
  #10  
BE Forum Addict
Thread Starter
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 1,952
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Re: Disgusted with Sabadell

Thanks Steve this is well worth looking at.

Lynn - 81,20€ for 3 months after never paying a cent before and what really hacks me off (been a customer for 20 years) no prior discussion, not even a letter!
spainrico is offline  
Old Sep 26th 2020, 5:04 pm
  #11  
BE Forum Addict
 
Joined: Aug 2006
Location: Velez-Malaga
Posts: 3,656
Lynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond reputeLynn R has a reputation beyond repute
Default Re: Disgusted with Sabadell

Originally Posted by spainrico View Post
Thanks Steve this is well worth looking at.

Lynn - 81,20€ for 3 months after never paying a cent before and what really hacks me off (been a customer for 20 years) no prior discussion, not even a letter!
No idea what that could be for, then - obviously you need an explanation from them as to what it's for, which I'm sure you'll be asking for! Good luck.

I just checked my account and the normal €15 charge was debited about a week ago, no other charges have showed up.
Lynn R is offline  
Old Sep 26th 2020, 5:08 pm
  #12  
BE Forum Addict
Thread Starter
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 1,952
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Re: Disgusted with Sabadell

Looks like the 15€ charge - more than once and Entry fees (??) at 64 x 80 cents...

Been a bad week for banking following last Mondays news about UK banks withdrawing expat accounts!!
spainrico is offline  
Old Sep 26th 2020, 5:17 pm
  #13  
Forum Regular
 
Joined: Jul 2012
Location: Xirles. Alicante
Posts: 182
Barriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really niceBarriej is just really nice
Default Re: Disgusted with Sabadell

Originally Posted by spainrico View Post
Looks like the 15€ charge - more than once and Entry fees (??) at 64 x 80 cents...

Been a bad week for banking following last Mondays news about UK banks withdrawing expat accounts!!
I have a Santander 123 free account, non resident.
But for it to be free you have to pay in 700 a month and use the card at least 3 times a month for a couple of months and then the 12 euro a month fee is waived.
The nice lady in our branch said to pay into one account and then move the money to the other one a week later. As long as you put, pension, wages etc as the reason the computer doesn't care and it stops the charge.

As to the banking thing, its geared around credit cards. I've spoken to the Nationwide and they stated bank accounts with debit cards will not change.
Even if they do all they should be doing is giving you a non residence account just like the one I have in spain (until our residency is sorted) and the account I have with Barclays in Barbados that I've had since 1983.
And which all UK banks offer anyway.
Barriej is offline  
Old Sep 26th 2020, 6:23 pm
  #14  
BE Forum Addict
 
Joined: Feb 2013
Posts: 4,447
Moses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond reputeMoses2013 has a reputation beyond repute
Default Re: Disgusted with Sabadell

Originally Posted by spainrico View Post
Looks like the 15€ charge - more than once and Entry fees (??) at 64 x 80 cents...

Been a bad week for banking following last Mondays news about UK banks withdrawing expat accounts!!
Currently paying €30 quarterly with Sabadell but non resident and needed account because of mortgage.
Moses2013 is offline  
Old Sep 26th 2020, 7:45 pm
  #15  
L/R
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 49,526
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: Disgusted with Sabadell

Originally Posted by stevesainty View Post
If you want a totally free bank that is comparable with both UK an Spanish Market then you need a totally online bank. We have a borderless account with Transferwise which allows you to deposit funds in Sterling, Euros and US dollars. You can convert your deposits into the other currencies and still keep them in your Transferwise wrapper. When you need to transfer euros into your Spanish account it costs you 63 centimos per transfer regardless of the amount transferred. The only other charges are the currency transfers which are transparent and you know exactly how much you will receive in the target currency before you accept. A borderless account will also allow transfers from UK accounts or pension providers with a UK IBAN number/sort code and account number and also direct debits/standing orders/ direct payments into Spanish Bank accounts/ businesses using a Belgian IBAN which is acceptable in Spain ( if you are insistent).
A Transferwise bordeless account can certainly be very useful but I wouldn't keep much of a balance in such an account because Transferwise isn't a bank, and in the event that they went bust you could end up losing some of your deposit, I know that Transferwise says that they have the underlying "real" bank accounts that they use, set up in such a way as to to protect customers from this happening, but in reality banks, and businesses can and do fail, and can leave a mess behind for their customers. "Real" banks in the European Onion are required to have deposit insurance to protect their customers, with a minimum of €100,000 (or equivalent value) protected 100% if the bank fails, but with Transferwise not actually being a bank, this wouldn't apply AFAIK.

Last edited by Pulaski; Sep 26th 2020 at 9:01 pm.
Pulaski is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.