Sabadell now charging to receive payment from UK
 

Hi All, I have a regular payment sent from my Revolut euro account to my Sabadell account, it's for €710 to keep the benefits of the expansion account, today the payment was received , this time the bank has charged €18 for the pleasure, anyone found a way around this, going into the bank isn't an option as I'm based in the UK and we are not allowed out!

Anyone know a bank that doesn't charge for none EU transfers in euros? Or maybe a transfer company, realise this is all pretty new but thought i would ask, cheers

Re: Sabadell now charging to receive payment from UK
 

Try Transferwise , good exchange rate low charge used it for several years

Re: Sabadell now charging to receive payment from UK
 

I use XE.
No charge for moving money. Good rate of exchange.
If you do the transaction early in the morning the money goes in the next morning (they earn interest on the currency pots which is why there is no charge)

Just my 2c

Re: Sabadell now charging to receive payment from UK
 

I guess either Revolut, Sabadell, or an intermediary put their charges up.

If charges are shared between sender and receiver, you should be able to change it to sender pays all charges. That way you'll at least know how much the receiver receives.

Re: Sabadell now charging to receive payment from UK
 

Sabadell are charging to receive the money because the Revolut euro account has a UK Iban and as UK have left the EU and transition period they are charging, so i know who is charging, just wondering if anyone knows a way around it which would be something like a euro account with a FX company that a UK resident can have with a EU Iban, thanks for taking the time to reply, cheers

Re: Sabadell now charging to receive payment from UK
 

I have already read reports elsewhere that other Spanish banks are imposing the same charges, and I am sure that all of them will, as the UK is no longer part of SEPA. I pointed this out as a consequence of Brexit many times during the runup to the referendum but it was described as Project Fear by supporters of the Leave campaign.

I'll be making my usual monthly transfer to my Sabadell Expansion account via Currency Fair in a week or so's time, and I expect they'll charge me to receive that (I know the funds I transfer to them from my UK account go to a Barclays account in London) so I'll let you know if that is the case.

Re: Sabadell now charging to receive payment from UK
 

I read somewhere (link) that the UK still has access to SEPA so maybe this is a fee just because they can.

I used Transferwise before SEPA came along and got good rates. Maybe it's a good time to check their website, you can put how much you want to transfer and it says how much it'll cost.

Re: Sabadell now charging to receive payment from UK
 

Can you take the money from an ATM and deposit it as cash?

Re: Sabadell now charging to receive payment from UK
 

Just open a transferwise borderless account. Deposit sterling in one side, exchange it for euros, which reside in Belgium, transfer to Spain. Easy to open, seconds to execute each transaction, the only charges are included in the conversion from sterling to euros which is transparent and you can see what you end up with before you make the conversion. You can also set up Spanish direct debits using the Belgian IBAN, with no charges in Spain.

Re: Sabadell now charging to receive payment from UK
 

I'm based in UK but because of the standing charges levied by Sabadell Bank and now what appears to be an 18e. receiving fee. I have been looking for another way to pay my Water, Electric, Townhall bills etc. and avoid having to use the local banks in Spain. I think TransferWise may be a solution but I'm not sure if it is possible to set up the direct debits. If anyone has used this option successfully please tell me/us the secret.
I have used TransferWise to great effect with sending monies over and paying for renovations but not regular recurring variable payments.

Re: Sabadell now charging to receive payment from UK
 

Posted whilst I was typing! I guess it is the actual procedure of cancelling and setting up the payments that I am unsure of.

Regards

jonboy

Re: Sabadell now charging to receive payment from UK
 

That sounds like it could fit the bill, thanks, I'll look into it

Re: Sabadell now charging to receive payment from UK
 

Most utility company websites let you change the direct debit details, you just need to log in, find the page with the old IBAN, and supply the new IBAN. If you don't have a login user and password you'll probably need some info from your last bill to set one up. If the website only accepts the old-style bank/branch/check digits/account number format then you'll probably have to ring them.

Re: Sabadell now charging to receive payment from UK
 

And banks are now charging for funds via them as well. I think the exchange companies will need to transfer via an Irish bank (or similar)

Re: Sabadell now charging to receive payment from UK
 

Yes, this is all new so I'm sure the various companies and challenger banks will sort something out in the end, i thought it was worth asking originally to see if anyone had figured a way around it yet