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Sabadell bank charges

Posted: Fri Aug 19, 2022 9:20pm
52 replies2717 views20 members subscribed
boston43

Posts: 6

Location: La Marina

Joined: 26 Mar 2022

I am being ripped off on bank charges by Sabadell! I have a healthy bank balance and really only pay my taxes and utility bills by direct debit.i have tried to change banks but it seems they are operating a cartels and all charge similar fees unless you have your UK pension paid in monthly.I live in UK and although I'm retired it's not a feasible solution for me! IS There any solution open to me to pay these charges without  normal bank account?I don't need the bank card,which they also charge €30 for! It's  complete rip off!!

Paolo51

Posted: Sat Aug 20, 2022 7:07am

Paolo51

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Posts: 388

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Location: Orihuela

Joined: 10 Nov 2017

Posted: Sat Aug 20, 2022 7:07am

Bank charges are normal for all banks in Spain so you are not being ripped off.

If you are a resident make sure you have the correct residents account and afaik you need to have a minimum of 5000€ invested or in your account to be free of charges.

Anne1939

Posted: Sat Aug 20, 2022 8:02am

Anne1939

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Posts: 255

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Location: La Marina

Joined: 18 Aug 2020

Posted: Sat Aug 20, 2022 8:02am

boston43 wrote on Fri Aug 19, 2022 9:20pm:

I am being ripped off on bank charges by Sabadell! I have a healthy bank balance and really only pay my taxes and utility bills by direct debit.i have tried to change banks but it seems they are operating a cartels and all charge similar fees unless you have your UK pension paid in monthly.I live...

... in UK and although I'm retired it's not a feasible solution for me! IS There any solution open to me to pay these charges without  normal bank account?I don't need the bank card,which they also charge €30 for! It's  complete rip off!!

Hi if you search the forum plenty of members recommend Wise https://wise.com/

I use them to transfer funds to Spain.

If you don’t need the card from Sabadell just ask them to cancel it, I have a Key Account with them and the card is part of the package with no additional fee.

Regards

Anne

Darro

Posted: Sat Aug 20, 2022 8:32am

Darro

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Posted: Sat Aug 20, 2022 8:32am

Paolo51 wrote on Sat Aug 20, 2022 7:07am:

Bank charges are normal for all banks in Spain so you are not being ripped off.

If you are a resident make sure you have the correct residents account and afaik you need to have a minimum of 5000€ invested or in your account to be free of charges.

Yes this is the norm in Spain, another case of "why doesn't Spain work like UK"?

There is no standard for avoiding charges and each bank will have it's  own criteria so having €xxx in your A/C will not necessarily do it.

In many cases taking a product from the bank, such as house or car insurance for instance, can cancel them.

Kenbo

Posted: Sat Aug 20, 2022 8:53am

Kenbo

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Posts: 694

586 helpful points

Location: La Florida

Joined: 6 Dec 2017

Posted: Sat Aug 20, 2022 8:53am

boston43 wrote on Fri Aug 19, 2022 9:20pm:

I am being ripped off on bank charges by Sabadell! I have a healthy bank balance and really only pay my taxes and utility bills by direct debit.i have tried to change banks but it seems they are operating a cartels and all charge similar fees unless you have your UK pension paid in monthly.I live...

... in UK and although I'm retired it's not a feasible solution for me! IS There any solution open to me to pay these charges without  normal bank account?I don't need the bank card,which they also charge €30 for! It's  complete rip off!!

I am also retired and live in the UK

As suggested earlier, open a Wise account, they can pay your direct debits and if you have a debit card I think it is a one off fee of £5.

There are no monthly charges only small amounts when you move money around.

Once the account is open give the utility Companies your Wise IBAN for the direct debits and then close the Sabadell account.

Wise' bank account is based in Belgium and the IBAN is prefixed BE, this is widely accepted throughout the EU.

In most cases you would have to visit your branch in person to close the account, I certainly did but I am sure that other members have managed to close a Sabadell account whilst still in the UK ?

Good luck and fire away if you have any more questions re Wise, plenty of us have done it.

Ken.

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Kenneth1

Posted: Sat Aug 20, 2022 3:33pm

Kenneth1

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Posts: 588

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Location: La Marina

Joined: 3 Feb 2017

Posted: Sat Aug 20, 2022 3:33pm

All banks, UK and everywhere else have charges! They big difference is they hide their charges. Some give a lower interest rate than they should or charge a negative interest on your account, and the exchange rate is not always what it should be. 

Anne330

Posted: Sat Aug 20, 2022 5:19pm

Anne330

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Posts: 315

228 helpful points

Location: Villena

Joined: 12 Apr 2018

Posted: Sat Aug 20, 2022 5:19pm

boston43 wrote on Fri Aug 19, 2022 9:20pm:

I am being ripped off on bank charges by Sabadell! I have a healthy bank balance and really only pay my taxes and utility bills by direct debit.i have tried to change banks but it seems they are operating a cartels and all charge similar fees unless you have your UK pension paid in monthly.I live...

... in UK and although I'm retired it's not a feasible solution for me! IS There any solution open to me to pay these charges without  normal bank account?I don't need the bank card,which they also charge €30 for! It's  complete rip off!!

Hi Close Spanish bank, open up a Wise account and pay ALL SO and DD 👍

Cfell63

Posted: Sat Aug 20, 2022 7:07pm

Cfell63

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Posts: 528

399 helpful points

Location: Santa Pola

Joined: 29 Jan 2018

Posted: Sat Aug 20, 2022 7:07pm

Paolo51 wrote on Sat Aug 20, 2022 7:07am:

Bank charges are normal for all banks in Spain so you are not being ripped off.

If you are a resident make sure you have the correct residents account and afaik you need to have a minimum of 5000€ invested or in your account to be free of charges.

I wish ! Sabadell still charge us fees and we have a large amount in the account ! We even went in to ask about removing the fees. We are residents … have enough to buy a second property if we wanted … suggested we could easily find a better deal …but they just said no. ! 

JanetW67

Posted: Sun Aug 21, 2022 10:04am

JanetW67

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Posts: 300

100 helpful points

Location: Villamartin

Joined: 8 Oct 2020

Posted: Sun Aug 21, 2022 10:04am

boston43 wrote on Fri Aug 19, 2022 9:20pm:

I am being ripped off on bank charges by Sabadell! I have a healthy bank balance and really only pay my taxes and utility bills by direct debit.i have tried to change banks but it seems they are operating a cartels and all charge similar fees unless you have your UK pension paid in monthly.I live...

... in UK and although I'm retired it's not a feasible solution for me! IS There any solution open to me to pay these charges without  normal bank account?I don't need the bank card,which they also charge €30 for! It's  complete rip off!!

Unfortunately that's what they do.  As a resident I still have to pay their charges as I don't take out any of their insurance products.  If I did, they said they wouldn't charge me.  I'd rather pay the charge and save more on my insurances.

tebo53

Posted: Sun Aug 21, 2022 10:15am

tebo53

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Posts: 3412

3663 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Sun Aug 21, 2022 10:15am

JanetW67 wrote on Sun Aug 21, 2022 10:04am:

Unfortunately that's what they do.  As a resident I still have to pay their charges as I don't take out any of their insurance products.  If I did, they said they wouldn't charge me.  I'd rather pay the charge and save more on my insurances.

I live here permanently and have a Sabadell account. I get charged €60 per annum which at just over a euro per week I'm not particularly worried about. 

I do agree with the comments and suggestions for the Wise account. 

Steve 

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