Sabadell bank - Pensionable age - waiver of commission

I have had a Sabadell expansion account for the four years I have lived here. For the first two years, I accepted that I was being charged fees (60€ p.a.) for the account.

When I started receiving my UK state pension, I went into my branch and pointed out to them that their own terms and conditions for that account stated that no fees would be charged if one's state pension was paid directly into the account. They immediately dropped the fee and I haven't paid one since. Read the small print on your account, I don't know if anything's changed.

Thanks I will discuss at appointment, but, I suspect that you're right.

Nas

I agree with Jack......

I used to pay €60 per annum with my residents account at Sabadell but since I've been having my UK retirement pension paid directly into my Sabadell account I've not paid any fees. 

Free banking.

Steve 

Yes, Banking for free if you meet the requirements...

Do you have any pensions paid directly into the account....etc, etc.

As I mentioned, I used to pay €60 per annum and now I don't. 

Steve 

Thank you, seem, like the man in Sabadell got it wrong or failed to mention the pension paid in.

Thank you! It appears all advice given so far points to having your pension equalling £700/month deposited into your Spanish bank account, with various spend conditions each month.

Once again thank you all.

Kind regards,

Nas99.

Even with a pension income of 700€ or more, the terms have recently changed. You will only get free banking with Sabadell if you also have one of their products, I.e. insurance, mortgage etc. Otherwise with 700€ income and no products, you will pay 20€ per quarter. We have a joint account and have been resident for 7 years. We were charged 20€ for the first time this month. I queried this with my branch, and they gave me a copy of a letter that they said was sent out in April. However I don’t know of anybody who received their letter. The only reason I keep this account is because of the availability of cash, which is better than online accounts like Wise, which I also have. 

I'm sorry Sheila but I have to disagree. 

I've been with Sabadell for 9 years, 8 years as resident. I have a joint account with my wife.

Neither of us have any of their products at all, none whatsoever. 

We both have our UK retirement pensions paid directly into our Sabadell account plus a joint private pension monthly. 

We used to pay €60 per annum but now it is free. I was sent an email from Sabadell 3 months ago to confirm that I was within the requirements for free banking. 

I did not receive any letters from them.

Steve 

Hi Steve, this is a copy and paste from my letter:-

‘Fee of €20 per quarter

It will apply if you meet one of the following requirements:

• Be the holder of Investment Funds and/or Individual Pension Plans, Insured Pension Plans or Individual Social Welfare Plans with a total average monthly balance between EUR 3,000 and 10,000.

•Receive a salary in the account, pension or regular monthly income of a minimum amount of EUR 700. Income from accounts opened in the Banco Sabadell group in the name of the same holder are excluded; and

- Have free or combined insurance.

- Or have two direct debit bills for household consumption in the account.

- Or have made a minimum of two purchases per month with your credit card and charged to the Sabadell Account in the last three months.

Fee of €60 per quarter

If you do not meet any of the above requirements’