Lagoo

Thanks. I opened an account today and have sent my monthly € to Sabadell, easy stuff.

A suggestion: you could transfer £ to € in Revolut then transfer to TransferWise then on to Sabadell.

Longlegpete

i did wonder that but i suspect the Belgium IBAN that TransferWise use would charge for receiving from a GB IBAN, as i say, i don't know but wouldn't be surprised

spainrico

I use a standing order to move sterling from Lloyds to my sterling Transferwise account (no charges) Then change that sterling to €uros within Transferwise accounts (small charge) then move it in seconds to Sabadell account (no charges) All very easy to go and problem-free with of course the highest exchange rates.

This to me seems the perfect solution - if anyone has a better one I am listening.

Longlegpete

It certainly seems it at the moment, Revolut was the cheapest as the rate was the city rate as per TransferWise but no charges to exchange or send, up to GBP 1000 a month, but unfortunately Revoluts Euro IBAN is GB if your UK resident so no good anymore

Loafing Along

Revolut has a European banking licence set up in 2018 in Lithuania. If you are a customer resident in EU you should have received a notification from them of the change .

spainrico

My €uro transferwise account has a Belgian IBAN works like a dream.

NABman

Another vote for TransferWise. We got stung with the Sabadell Euro18 charge in January so set up a TransferWise account. No problem setting up the account, used it today to send GBP 1000 to Sabadell and received the funds in minutes with only a small deduction for fees exactly as listed by TransferWise. No deductions by Sabadell.

spainrico

Agree totally - seeing the pound had reached the dizzy heights of 1.14+ yesterday I moved more from sterling from Lloyds UK>Transferwise, changed to €uros>Sabadell

all done in under 5 minutes.

Lagoo

From their fees page: "Add money to your balances for free by making a bank transfer to your bank details."

I transferred 1.000€ from Revolut to TransferWise and there was no fee. ** NB This was by setting up a payment in Revolut, rather than telling TransferWise to go get the money (which I think does incur a charge). ** Plus Revolut sems to give a slightly better rate.

Still it's only pennies difference and as spainrico says with the £ @1.14 we're all rich

spainrico

I saw this on Money Saver Spain website - not saying it applies to charges on receiving money from non-EU - but could be interesting...
Bank fees - do you have the right to claim them back?
The Spanish Government and the Autonomous Communities have agreed that unilateral decisions made by banks to change the terms of commission-free accounts may not be valid. This opens the possibility for consumers to make a claim through their Municipal Consumer Office. You'll need to be able to show proof of the conditions of the account when you opened it - check with your local Consumer Office for more details.

Lagoo

The 18€ is in their T&Cs; it's the UK that's changed, not Sabadell.

However since about a year ago they charge 5€ / month which is new. Interesting indeed

spainrico

I remember a few years ago when they paid me a few euros every month!

guesswork

Im with Sabadell and I checked it out this week. I have an Expansion Acc which you have to transfer approx 700euros per month by DD. This usd to make the account free, now they charge 15 euros quarterly. The money is moved via a Regular transfer arrangement. The account is free if I have another product with the eg Home insurance.

If you use a Currency Company make sue about the charges I used to use HiFx now called XE. Their process was they move the cash from their UK account to their account in Spain. Then they paid it to my account in Spain and it became a Domestic transfer. No charges to the customer. Different companies have different systems

Barriej

XE still do move currency pots. They also keep an amount in each currency they trade in for larger transfers. Its how they make their money.

When we purchased the flat they split the transfer into €10,000 euro lots and informed me it was to prevent bank charges as some banks charge for large deposits. Ive been happy with them and have used them to transfer US$, CA$, AU$,€ and even Yen for a purchase I made in China.
I don't make regular transfers and I have no idea if you can set up a monthly transfer with them.
I watch the exchange rate and, if I need to make a transfer I do it then.

radarrat

Exact same thing happened to me, I’m resident in Gibraltar but have a property in Spain. It was going to be a huge problem for me, however, i’ve literally just discovered a loophole. Whether or not it helps you I don’t know, but here goes:- If you have friends/family members who have Revolut and are resident in Spain/EEA, their IBAN is different. It’s a Lithuanian IBAN and as Lithuania (LT) is EU, there’s your loophole! Basically all I have to do now, is carry out the fx on Revolut and send it to my Aunt (as a contact, not her bank account) and thereafter, she can transfer to my Sabadell account. As it’s EU, no fees! Sincerely hope this helps you and you either have friends you can trust or family in an EU country . Sabadell are thieves. They confirmed to me via twitter that to receive a transfer from an IBAN outside the EEA there’s a 0.35% charge, with a minimum of €18. 😤