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!!
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.
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...
Read more...
... 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
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.
Posted: Sat Aug 20, 2022 8:53am
Very helpful member
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...
Read more...
... 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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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.
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...
Read more...
... 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 👍
Posted: Sat Aug 20, 2022 7:07pm
Very helpful member
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. !
Posted: Sun Aug 21, 2022 10:04am
Helpful member
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...
Read more...
... 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.
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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