bank charge for money transfer

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 | 2 | 3 | Next |

Forum home :: Latest threads :: Search forums
The Comments
13 Jan 2021 21:32 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi, I have just recieved this months state pension into my Bank Sabadell. The bank have charged me €18.00 for the transfer. My understanding is that the charge is against regs. I have written to sabadell but do not expect a reply.

Has anyone else been charged commission/fees upon monies transferred from the uk. Thanks nic.





Like 0      
13 Jan 2021 22:35 by mariedav Star rating in Ciudad Quesada. 1101 posts Send private message

Loads of people saying they are getting charged, and have had a letter, saying any payments in will be 0.35% of the sum or €18 but only with Sabadell.

People saying bank transfers, Currency exchange companies and now your pension are being charged €18 for receiving the money.

I just got my pension yesterday into Bankia and no charges were made. 

Sabadell are blaming it on UK no longer being in the EU but that's the only bank I've heard it that are doing unless others have had the same charges applied.

 





Like 0      
13 Jan 2021 23:33 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi Mariedav, many thanks, looks like I need to change banks but maybe worth a visit to my branch first. nic





Like 0      
14 Jan 2021 01:01 by nicbax Star rating in Fuengirola. 183 posts Send private message

Having spoken over the phone with Sabadell I dont think they will waive this ridiculous €18.00 charge.

I propose to change banks and would be most interested to know what you guys would reco. thanks nic.





Like 0      
14 Jan 2021 09:34 by Jarvi Star rating in Halifax UK and Sucin.... 750 posts Send private message

 I did a transfer yesterday to Sabadell, have checked this morning no charges applied. I am non resident and assume you are resident, I don't why but that may be the difference?

 


This message was last edited by Jarvi on 14/01/2021.



Like 0      
14 Jan 2021 10:04 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1017 posts Send private message

Kavanagh´s avatar

No charges on my account. Maybe you are correct Jarvi, non resident non EU pay transfer charges. You get what you voted for, not pick and choose.



_______________________
There is enough in the world for everyone, but not enough for the greedy!



Like 1      
14 Jan 2021 10:30 by mariedav Star rating in Ciudad Quesada. 1101 posts Send private message

Article in  the UK press today about this. The transfer of funds should not have changed because UK is still in the SEPA. From posts on another site, it's only Sabadell and hit and miss which ones get charged. Makes no difference on whether they are resident or not, some are getting charged for all types even from currency exchange sites and others aren't.

My UK bank, in accordance with the new SEPA rules from December last year, have now stopped charging me the £10 they used to for doing a transfer and Bankia hasn't charged me anything for receiving a payment.

You'd think there'd be one rule for everyone but then you remember that this is Spain.

 





Like 1      
15 Jan 2021 11:50 by mariedav Star rating in Ciudad Quesada. 1101 posts Send private message

A reply to someone on another site from a currency transfer company complaining about this €18 seems to bear out that it is only Sabadell doing it. They say they have received several complaints and all about Sabadell who are charging the fee for any money "originating in UK" regardless of which country the transfer company sends the money from and does not take into account the IBAN of the paying entity.

The company, Currencies Index, state that this is "illegal" and Sabadell is acting in breach of the European Council regulations and complaints should be sent to the European Payments Council  on that link.

 

 

 


This message was last edited by mariedav on 15/01/2021.



Like 0      
15 Jan 2021 15:41 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1017 posts Send private message

Kavanagh´s avatar

Another fine example of ‘Bank of Spain’ enforcing regulation.



_______________________
There is enough in the world for everyone, but not enough for the greedy!



Like 0      
15 Jan 2021 16:03 by Jarvi Star rating in Halifax UK and Sucin.... 750 posts Send private message

This is what Transferwise say

"Per EU regulations, transfers between bank accounts in two different SEPA countries shouldn’t cost any more than a regular, local transfer.
SEPA is made up of the Eurozone, countries within the EU and a few other countries which also support EUR bank transfers. The full list can be found here.
We send all of our EUR transfers as domestic transfers when sending to other SEPA countries such as Spain, meaning the bank should not impose any charges for receiving EUR transfers from us.

The UK is part of the SEPA scheme





Like 0      
15 Jan 2021 18:56 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi, I have complained to sabadell but of course the spanish are a law unto themselves. Complaint to the banking commission could take months if not years to resolve so for me I shall be opening a Santander current account and sabadell can whistle. I am sure that I shall be one of thousands closing their sabaeel accounts





Like 0      
16 Jan 2021 10:38 by marcbernard Star rating in Marina Alta; Alicant.... 252 posts Send private message

Having myself had cause over the last year to ditch both Sabadell and Santander due the introduction of fees and charges against previously clear accounts, I would rather advise you to try BBVA on-line account which operates without charges or fees (except for immediate transfers, at low cost). I am unsure if non-residents qualify, however.





Like 0      
16 Jan 2021 13:20 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1017 posts Send private message

Kavanagh´s avatar

It’s the culture of banks. Sabadell sucked many into it’s free banking EXPANSION account, then when their target was reached they stung all the account holders with charges. It’s quite possible other banks will do the same.



_______________________
There is enough in the world for everyone, but not enough for the greedy!



Like 0      
16 Jan 2021 13:35 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi Marcbernard,many thanks for that its sounds interesting. Is this account operated like any other current account or is it one of the "new" digital accounts.I am a full resident.

Santander have a current account which carries a €10.00 fee per month but that is waived when only transaction is operated like incoming or outgoing funds.

Does bbva have branch offices or is it solely online. thanks nic





Like 0      
16 Jan 2021 13:40 by baz1946 Star rating. 2212 posts Send private message

You can't really go wrong with BBVA if you want the extra peace of mind of having your money in a Spanish bank. BBVA is consistently rated among the top 3 banks in Spain......Not my words, but interesting enough.



Like 0      
16 Jan 2021 15:30 by marcbernard Star rating in Marina Alta; Alicant.... 252 posts Send private message

Nicbax

BBVA have branches. I believe they are the second largest bank in Spain but don't hold me to that!

I live on North Costa Blanca so it might not be in your area.

They are a fully fledged bank and the online account is just one of the options, but the only one without charges etc. You can use branches for necessary things like inserting cash via the ATM, extract via the ATM, and my own branch is very helpful when needed. However you have to take the account via the web. Just call it up on the web and enquire at will. One drawback is that only one card (either debit or credit) is available without a fat charge for any others.

Their website seems a little slow in response but that may be because I only have 100megs on fibre.





Like 0      
16 Jan 2021 18:01 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi Marcbernard, Many thanks for all the info. I have just been onto BBVA site and it says no fees for transfers within EEA. I believe the UK is part of SEPA but no longer in EEA. Therefore it seems that BBVA will charge for all transfers coming from the UK. What do you think. nic





Like 0      
16 Jan 2021 19:23 by marcbernard Star rating in Marina Alta; Alicant.... 252 posts Send private message

Nic

Hmm! That would annoy me intensly. The only moneys coming directly from UK is the DSS pension, so I may find out next Monday.

I use Currencies Direct for my main pension and they assure me that they have organised things within the 27 nations to avoid brexitisms. I may reorganise my DSS pension the same way, but the FX rate with DSS is the best!





Like 0      
16 Jan 2021 20:32 by nicbax Star rating in Fuengirola. 183 posts Send private message

Hi marcbernard, I fear several banks will jump on the bandwagon. Forgive my ignorance but is dss pension the state pension.

My state pension is paid directly into my sabadell account in euros as I would image most are. My Wife is due to get her pension in a few months so that will be €18.00 X2 every 4 weeks in sabadell charges.

Is it feasable to have our state pensons paid into our UK bank accounts and from there to Currencies Direct and then to our spanish bank free from charge.

What is annoying is sabadell didnt even have the courtesy to write to customers informing them of these brexit charges.

 

 





Like 0      
16 Jan 2021 21:58 by marcbernard Star rating in Marina Alta; Alicant.... 252 posts Send private message

Nic

Everything in your email is absoltely correct.

I have just written a firestorming email to BBVA customer services which explores the problem and seeking clarity, also giving warnings!

I will return to you if a get a reply from them.





Like 0      

Pages: 1 | 2 | 3 | Next |

Post reply    Start new thread


Previous Threads

90 days - 6 posts
'New' tax on income from property. - 21 posts
toy poodle puppies - 2 posts
Volunteer work - 4 posts
CGT - 0 posts
WINTER RENTAL SPAIN - 6 posts
Early termination of long term lease - 4 posts
Non residents tax being rejected by bank - 3 posts
Utilities - 1 posts
GREAT NEWS - 0 posts
NEED TO CLOSE SANTANDER ACCOUNT FROM ABROAD - 1 posts
EHIC cards - 21 posts
Feliz navidad - 0 posts
Irish passport - 29 posts
Key holding licence in Spain - 3 posts
Gibraltar/La Linea Border - 1 posts
60,100e foreign earned income exemption - 0 posts
Residencia, tax returns and not in country 183 days - 6 posts
Organised Mortgage Fraud and Caixabank threatening legal action despite knowing this! - 10 posts
Query re latest Supreme Court ruling on IRPH mortgage clauses and the impact on know of ECJ rulings - 1 posts
Do homemade DVD's work in Spain? - 1 posts
advice needed on builder asking for 50% upfront fee prior to starting work - 13 posts
Alternative to Negative PCR Testing before arriving in Spain by Sea or Air - 0 posts
Registering for healthcare in Spain - 2 posts
Tax redemption form sale of property - 12 posts

Number of posts in this thread: 43

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 | 2 | 3 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x