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How to not pay monthly fees with Sabadell bank?

Posted: Tue Feb 4, 2025 9:28am
7 replies4 members subscribed
Paul013

Posts: 19

3 helpful points

Location: Playa Flamenca

Joined: 24 Jul 2018

Hi all. Do any of you know how to avoid paying quarterly 40 Euro bank charges on a Sabadell current account please?

We opened an account in 2015 when we bought our holiday apartment in La Florida, but don't remember these charges then?

I know there are alternatives, like Wise etc. but can we do something like open a savings account or maintain a certain balance in our current account?

We currently live in Australia and briefly visit each year, so never find time to chase it up then. Moving back to UK for a while in May then hope to move to Spain quite soon, but any advice before that will be very much appreciated.

TIA ☺

RonTT

Posted: Tue Feb 4, 2025 9:36am

RonTT

Very helpful member

Posts: 575

547 helpful points

Location: Santa Pola

Joined: 26 Nov 2022

Posted: Tue Feb 4, 2025 9:36am

How to not pay Sabadell fees, close your account and open an account with WISE or similar, do not think its possible to avoid their punitive fees.

Madcatwoman

Posted: Tue Feb 4, 2025 9:58am

Madcatwoman

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Posts: 1053

889 helpful points

Location: La Siesta

Joined: 14 May 2018

Posted: Tue Feb 4, 2025 9:58am

Hi,

 As you're non resident I don't think that you can avoid paying the fees but someone may be able to correct me on this.

I'm resident and have had free banking with them for many years as I have direct debits with them and a pension scheme that I pay into. Another stipulation is that 700€ is deposited into the  account every month but this can easily be done by drawing out 700€ and then putting it back in, this was on the advice from Sabadell .

Hopefully someone will let you know how to open an account with someone like Wise to avoid fees.

John123456

Posted: Tue Feb 4, 2025 10:38am

John123456

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Location: Benidorm

Joined: 27 Feb 2021

Posted: Tue Feb 4, 2025 10:38am

As you're not a resident it's difficult to avoid charges. I have been with Sabadell for 5 years and do not pay charges as I have my pension paid into my account and have house contents insurance with them

Lots of previous posts on the forum suggesting to use Wise for paying your utilities and other expenses without charge. I use Wise to transfer funds from my UK bank to Sabadell as their exchange rate is usually the best. 

This link will take you to Wise for further information:

https://wise.com/au/

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HonestDan

Posted: Tue Feb 4, 2025 8:16pm

Posts: 16

12 helpful points

Location: Denia

Joined: 7 Mar 2023

Posted: Tue Feb 4, 2025 8:16pm

Hey buddy, 

BBVA offer an online banking app which is free, it functions just like a bank would except it's all on your phone. 

You also have the option with Revolut which is also an online/phone application, just download it via the application store. Again it is also free plus an attractive feature with Revolut is you are able to hold multiple currencies at one time. 

Both options are free and easy to set up. 

There are now options available so we shouldn't/ don't have to be paying bank charges anymore. 

Stevec2x

Posted: Wed Feb 5, 2025 10:25am

Stevec2x

Super helpful member

Posts: 2202

1258 helpful points

Location: Playa Flamenca

Joined: 23 Jan 2020

Posted: Wed Feb 5, 2025 10:25am

Hi Paul

With Wise, by default your account operates in exactly the same way as a current account (with no overdraft facility), and they pay interest (they call it cashback).

They can hold your money in a variety of currencies as you require.

Precise functionality varies a little according to local regulations, so there may be differences between Australia, Spain and UK.

I think it's free to create your account, so just try it - you've nothing to lose.

Cheers

Steve

Paul013

Posted: Wed Feb 5, 2025 1:18pm

Paul013

Original Poster

Posts: 19

3 helpful points

Location: Playa Flamenca

Joined: 24 Jul 2018

Posted: Wed Feb 5, 2025 1:18pm

Stevec2x wrote on Wed Feb 5, 2025 10:25am:

Hi Paul

With Wise, by default your account operates in exactly the same way as a current account (with no overdraft facility), and they pay interest (they call it cashback).

They can hold your money in a variety of currencies as you require.

Precise functionality varies a little according to local regulations, so there may be differences between Australia, Spain and UK.

I think it's free to create your account, so just try it - you've nothing to lose.

Cheers

Steve

Hi Steve - Thanks for that advice. We already have Wise cards, but as we currently live in Australia it is registered here, thus we don't get the cashback option here as you do in UK and Europe for some reason.

We have considered changing our Direct Debits for Spain to the card but have yet to do anything about it, mainly because we have been told we require a Spanish Bank Account when purchasing a property there, and we plan to buy a Villa to move into on an NLV within two years.

However, you and the other kind 'commenteers' above, have inspired us to look into it further as soon as we depart Australia in April.

Thanks to all. Paul & Aletia ☺

Stevec2x

Posted: Wed Feb 5, 2025 3:00pm

Stevec2x

Super helpful member

Posts: 2202

1258 helpful points

Location: Playa Flamenca

Joined: 23 Jan 2020

Posted: Wed Feb 5, 2025 3:00pm

Hi Paul

You can pay Spanish direct debits directly from Wise. Just add a new currency (I.e. euros) and use the new IBAN, which is Belgian. All the major utilities will accept it (even the Spanish taxman (at last)).

btw - you don't need a Spanish bank account to buy a house. You should be able to transfer the funds into your solicitors client account - there are numerous threads on this forum about that subject.

Also - Wise cards (physical or virtual) are widely accepted in Spain. I use my card for almost everything and just take cash from ATMs primarily to use as tips.

Cheers

Steve

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