Warning to Sabadell bank Expansion account customers - Banking and finances in La Marina - La Marina forum - Costa Blanca forum in the Alicante province of Spain
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Warning to Sabadell bank Expansion account customers

Posted: Thu Oct 24, 2019 11:28am
60 replies2834 views14 members subscribed
Jay1947

Posts: 17

Location: La Marina

23 helpful posts

I visited La Marina branch of Sabadell this morning as I had seen posts regarding charges being levied on Expansion account customers. We were informed that all customers will be charged 5 Euros a month from 1/12/2019 with the first payment being taken in March 2020.

We were told that the only way to avoid these charges is to either have one of their insurance products or an investment account with them. Normal deposit accounts will not be sufficient.

We were told that we had been informed of the changes via message on our internet banking but we have received nothing nor have other customers we have spoken to. 

We have decided to move our accounts to another bank and are investigating possibilities at the moment. We are moving the account on principle even if we cannot get a better deal elsewhere.

What really is upsetting is that they are still advertising free Expansion accounts on their website. Total misrepresentation in my opinion.

Bryan995

Bryan995

Helpful member

Thu Oct 24, 2019 11:42am

Posts: 80

Location: Torrevieja

243 helpful posts

Posted: Thu Oct 24, 2019 11:42am

Good morning to you Jay...I am a customer of BancSabadell, of whom I am VERY disappointed with!

I have been 'blocked' from using 'on-line' banking!

Why?.. Because one needs to have a telephone, mobile or landline to enable them to send you a 'code' to access your account.

I am NOT interested in having a telephone! Why should I? It is my choice, so in essence, NO on-line banking.

I do understand, that having a 'phone' is something which is normal by 97% of the populace, but not me!

It was fine, with my 'log in', with a four digit password, but then they, in their wisdom, decide to change the system.

Very disappointed!

Oh well...What can I whinge about next?..🅱️.

John56

John56

Legendary helpful member

Thu Oct 24, 2019 11:48am

Posts: 2079

Location: La Zenia

2511 helpful posts

Posted: Thu Oct 24, 2019 11:48am

I checked the Mailbox on my Online Sabadell Banking and there was a Legal Notice from the 04/10/2019 indicating the change with fees being applied from 24/12/2019. You would not see this unless you go into the Mailbox as there is no notice of new Mail. In my case the Notice indicated I am exempt from paying the fee as I have my Pension paid directly into my Expansion Account. Check your Mailbox to see how the change may or may not affect you.

John56

John56

Legendary helpful member

Thu Oct 24, 2019 12:12pm

Posts: 2079

Location: La Zenia

2511 helpful posts

Posted: Thu Oct 24, 2019 12:12pm

Bryan995 wrote on Thu Oct 24, 2019 11:42am:

Good morning to you Jay...I am a customer of BancSabadell, of whom I am VERY disappointed with!

I have been 'blocked' from using 'on-line' banking!

Why?.. Because one needs to have a telephone, mobile or landline to enable them to send you a 'code' to access your account.

I am NOT interested in having a telephone! Why should I? It is my choice, so in essence, NO on-line banking.

I do understand, that having a 'phone' is something which is normal by 97% of the populace, but not me!

It was fine, with my 'log in', with a four digit password, but then they, in their wisdom, decide to change the system.

Very disappointed!

Oh well...What can I whinge about next?..🅱️.

They introduced this for the benefit of their customers as an extra layer of protection and security in a World where fraud and scams are on the increase.

Jay1947

Jay1947

Original Poster

Thu Oct 24, 2019 12:17pm

Posts: 17

Location: La Marina

23 helpful posts

Posted: Thu Oct 24, 2019 12:17pm

Just having your pension paid to them is no longer sufficient. My pension has been going in for years.

John56

John56

Legendary helpful member

Thu Oct 24, 2019 12:27pm

Posts: 2079

Location: La Zenia

2511 helpful posts

Posted: Thu Oct 24, 2019 12:27pm

Jay1947 wrote on Thu Oct 24, 2019 12:17pm:

Just having your pension paid to them is no longer sufficient. My pension has been going in for years.

Do you have a Cuenta Expansion Account and were you able to read the message in your Mailbox when logged into Sabadell's Online Banking, it should be titled Legal Notice and in the text it explains the introduction of the Fees before stating the exemption due to having the Pension paid in.

Jay1947

Jay1947

Original Poster

Thu Oct 24, 2019 1:54pm

Posts: 17

Location: La Marina

23 helpful posts

Posted: Thu Oct 24, 2019 1:54pm

Yes I have an expansion account and I did not receive any notification. Even my branch admitted tsht this morning after we checked during our visit. We also pay my pension into bank and have several deposit accounts with them. 

We have banked with them for several years without problems in the past. Our advisor at the bank sais it is  because interest are less than zero. I remarked that the greed of the banks caused the issue in the first place and I did not see why I should pay for it.

Jay1947

Jay1947

Original Poster

Thu Oct 24, 2019 2:04pm

Posts: 17

Location: La Marina

23 helpful posts

Posted: Thu Oct 24, 2019 2:04pm

Apologies for the typos in my previous message. I think you will still understand it.

jimtaylor

jimtaylor

Legendary helpful member

Thu Oct 24, 2019 4:41pm

Posts: 4251

Location: Mudamiento

5805 helpful posts

Posted: Thu Oct 24, 2019 4:41pm

Bryan995 wrote on Thu Oct 24, 2019 11:42am:

Good morning to you Jay...I am a customer of BancSabadell, of whom I am VERY disappointed with!

I have been 'blocked' from using 'on-line' banking!

Why?.. Because one needs to have a telephone, mobile or landline to enable them to send you a 'code' to access your account.

I am NOT interested in having a telephone! Why should I? It is my choice, so in essence, NO on-line banking.

I do understand, that having a 'phone' is something which is normal by 97% of the populace, but not me!

It was fine, with my 'log in', with a four digit password, but then they, in their wisdom, decide to change the system.

Very disappointed!

Oh well...What can I whinge about next?..🅱️.

It's not the individual banks that changed the system. Every bank has to comply with EU legislation which introduced this second tier security check.

I'm like you about mobiles - mine stays in the car and comes out for a charge every month, but I've got Margaret's phone registered with both my UK and my Spanish bank, so I can access both when I want online banking. It's an annoyance, but I'd rather have that than the old and insecure system.

Kimmy11

Kimmy11

Legendary helpful member

Thu Oct 24, 2019 9:28pm

Posts: 1716

2065 helpful posts

Posted: Thu Oct 24, 2019 9:28pm

John56 wrote on Thu Oct 24, 2019 11:48am:

I checked the Mailbox on my Online Sabadell Banking and there was a Legal Notice from the 04/10/2019 indicating the change with fees being applied from 24/12/2019. You would not see this unless you go into the Mailbox as there is no notice of new Mail. In my case the Notice indicated I am exempt from paying the fee as I have my Pension paid directly into my Expansion Account. Check your Mailbox to see how the change may or may not affect you.

Hi John,

Thanks for flagging up where to find the legal notice online - I hadn't seen it either. 

Would you mind sharing the precise wording on your notice which says that you're exempt please?  Is this exemption because your pension is paid from the UK direct to Spain without going via your UK bank account?   (My husband has a military pension paid into our UK bank account, but if it were possible to be exempt from the new bank charges by having his pension paid direct, it may be worth considering.)  It would be useful to know the precise wording, before I contact our branch.

Many thanks and kind regards,

Kim

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