Moving mandates etc from Sabadell to Transferwise (now Wise )…

Posted: Sun Mar 5, 2023 5:09pm

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Joined: 3 Jan 2021

As a non resident having read numerous entries to do with moving from Sabadell and their numerous and growing charges I am about to action the moving all my mandates.

One small issue for me, is Wise limit free cash withdrawals, I believe, to 200 Eus per month from presumably accepting local cash dispensers. I do like to carry a fair amount of cash hence I need much more than that monthly.

Any smart ways to access this cash without charges or excessive charges ?

Thanks,

D

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Posted: Sun Mar 5, 2023 6:52pm

Darro

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Posted: Sun Mar 5, 2023 6:52pm

Wise permit two free €200 withdrawals per month after which they charge €0.50c per withdrawal, if you withdraw over €200 there is a charge of 1.75%

Any Spanish bank ATM charges will be in addition and are beyond their control.

Your business of course but in these days of quick and easy contactless payment I do struggle to imagine why anyone would feel a need need to carry around a "fair amount of cash"?

If you really do then the most cost effective way has to be to buy Euros in UK before travelling.

Posted: Sun Mar 5, 2023 8:10pm

NigeF

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Posted: Sun Mar 5, 2023 8:10pm

Hi, this question has been asked a few times, people previously replied that Deutsche Bank cash machines did not charge for withdrawals, Sabadell charged me 1.80 euro and Caixa bank charged 7 euros.

The above are the various banks charges for dispensing cash, this obviously does not include the WISE charge for drawing more than 200 euro a month.

If you feel the need to carry lots of cash i guess you need to pay the fees.