BANCO SABADELL IRREGULARITIES AND POTENTIAL FRAUD

I am not surprised about inefficiences at Sabadell, I have had issues with their insurance arm who have charged us over 3000 euro when we didnt want a life cover policy for me and my partner. The fudns for insurance were coming out of my personal Sabadell accouont and I cancelled the driect debit and sabadell re-activiated it, surely thats wrong/illegal.

I have complained many times via email, twitter, online, in writing (recorded mail) and even to spanish Ombusdman in Madrid. You dont get replies or just get passed around pillar to post.

Dont know what else to try, any help formanyone would be useful

You should consider Wise for your FX exchange transactions. In my experience, they have the best exchange rate, the lowest commission, and the money is usually transferred instantaniously. There is no processing charge either, because the transfers are done through their EU based operation.

Admittedly I've only transferred one way, from my UK bank to my Sabadell account here, but I presume there wouldn't be any issue going the other way.

Cant help you with who to contact, but this is an all too common occurrence in Spain. How can a large Bank turn something that happens countless times on a daily basis ( transferring money) into a scandal like this.

Businesses here in Spain have nothing but contempt for customers in particular Brits imo. They treat us badly and if we complain they treat us even worse. 

This is so frustrating, there must be some consumer organisations that can help?

Firstly, I would try your transfer again using a different transfer company. I (also) suggest "Wise". They transfer the money in seconds. If it transfers OK it will save you worrying about everything else!

Steve 

Hi

Sorry to hear about your problems, seem much worse than mine.

I believe that there is a process to "denounce" an organisation but not sure how that is done.

I agree with you about the lack of response/ being shifted from pillar to post.

Thats why I attacked from the UK perspective because IF they are interfering with international currency transfers without a legitimate reason [and as they have yet to justify their action, I suspect that this is indeed the case, then that is in breach of both EU Fiscal Codes of Practice [CoPs] as well as UKs.

If the above is true, that is manipulation of the currency markets - a criminal act.

If, as I now know for a fact, it is ONLY targeted against British Institutions that is RACIST!

And that is my next angle of attack.

Cheers

Max

Hello

I am aware of WISE and Moneycorps etc and others of that ilk.

Like you I have never had any problem transferring funds TO Spain.

The problem is the reverse direction.

Banco Sabadell have - in writing [so that is a slanderous allegation] - accused TorFx of operating a Fraudulent account.

TorFx deny this and are seeking legal action against BS.

Just to bring you up to date, TorFx advised me to transfer the money via there account in Germany, free of charge [BS wanted Euro 85 commission], and it was in my HSBC account within 2 hours.

Thank you for your response, nice to see that people are taking this seriously.

BTW just managed to contact the Spanish Authority Anti-Fraud Office.

My next move is to denounce for racism [free move of exactly the same fund to TorFx in Germany, without hindrance, but total block to UK].

Please dont get me wrong, I am not seeking compensation or anything like that. I just find the actions of BS repulsive unconscionable. I intend to drop them in the pooh even if it takes me years.

Max

Hi

I couldn't agree more.

My application for Residencia is a typical example.

One YEAR later I am still in the dark.

Fortunately I have the resources, time and am willing to expend the effort to drop BS in the pooh over and over again.

Hmmm. EU Banking Regulators?? ;-)

Max

HI and thanks,

Unfortunately this has been going on since December and I have now managed to negotiate around Banco Sabadell by transferring the funds - still to TorFx but in Germany.

The transfer went ahead unopposed and the funds were in my bank within 2 hours.

I agree that the problem is with the TorFx account in UK, or rather with the attitude of BS towards that account.

I have repeatedly asked BS for clarification, for proof of fraudulent activity but they have failed to respond - stonewalled me.

But interestingly enough, given that the TorFx is allegedly a fraudulent account, why would BS open themselves to accusations o conspiracy in such fraudulent activity by accepting funds FROM that account.  Not logical. Not sensible. Ipso facto BS actions are illegal.

Max