Warning to Sabadell bank Expansion account customers - Page 4

I don't think anybody has mentioned the Bankia CuentaOn account which is totally free of all charges.

Suitable for both residents and non-residents you don't need to maintain a minimum amount nor deposit monthly amounts.

The app works well and as usual I just make my usual transfers with Transferwise from the UK.

I had a standard Bankia account before until they introduced charges in October which applied to me.

With ref to the monthly deposit amount of 700euros that is being mentioned.

we have a similar position in the UK with some Santander accounts with me and my wife but we just pay each other to the accounts 1,000 gbp per month and everything is solved.

You are basically moving your own money around your own accounts but getting around the fees for minimum deposits.

I believe the payments into Sabadell need to come direct from the pension provider and simply moving money between accounts will not work. As stated previously payment of pension is no longer sufficient to kerp free banking. You will need to take out their insurance or have more than 10,000 Euro in an investment account. Normal deposit accounts are no good as they do not make any money out of those products. 

This was what was explained to me also by our branch, yet it was the manager who told me this was a way around the issue, and touch wood there has never been an problem for going on 4 years now.

This was what was explained to me also by our branch, yet it was the manager who told me this was a way around the issue.

It was also said that the bank just require funds going in on the monthly basis and where they come from is not their concern to a limit.

Touch touch wood there has never been an problem for going on 4 years now.

It is not restricted to Military Pensions, in my case a Civil Service Pension and a Royal Mail Pension make me exempt, the requirement is just having a Pension paid directly into the Sabadell Account.

The gestor at Almoradi branch said to me, "It's only €5 per month", but she didn't have an answer when I asked her if that fee will also increase by more than 45% in 3 years......

Its an EU requirement to avoid fraud. Its happening in UK too.

Is this €5 per month on top of the €35 we have to pay quarterly? Thanky

Yes I found out the same thing about Sabadell charges, very disappointing. They will lose lots of customers this way.