Hi everyone
I was wondering if I would avoid the new tax (25 euro) if I transfer money into my Sabadell a/C from my. GB Master card whilst in Spain in November.
I"d appreciate any advice please.
Julie
Engadvisor wrote on Thu Oct 21, 2021 2:27pm:
Hi everyone
I was wondering if I would avoid the new tax (25 euro) if I transfer money into my Sabadell a/C from my. GB Master card whilst in Spain in November.
Read more...
I"d appreciate any advice please.
Julie
What new tax is that?
Steve
Posted: Thu Oct 21, 2021 8:23pm
Helpful member
get yourself a wise online account
Posted: Thu Oct 21, 2021 10:14pm
Legendary helpful member
So if it’s a tax (??) for transferring money on a Monday (as per the thread title) why not transfer money on a different day!
Sorry couldn’t resist that, as it was the way I first read it!
Are you sure it’s not just bank charges that your bank has imposed on currency exchange as opposed to a tax? Banks have fees from money coming in from non EU accounts.
If it’s bank charges then you need to transfer your money through a currency exchange company.
Or get yourself a Revolut card.
Lynn
Posted: Fri Oct 22, 2021 3:05am
GrahamLynn wrote on Thu Oct 21, 2021 10:14pm:
So if it’s a tax (??) for transferring money on a Monday (as per the thread title) why not transfer money on a different day!
Sorry couldn’t resist that, as it was the way I first read it!
Read more...
Are you sure it’s not just bank charges that your bank has imposed on currency exchange as opposed to a tax? Banks have fees from money coming in from non EU accounts.
If it’s bank charges then you need to transfer your money through a currency exchange company.
Or get yourself a Revolut card.
Lynn
Hi Lyn
Thanks for your email.I wish it was only payable on a Monday lol. - In their recent email my insurance company refer to 'an additional fee of 25 euro that is payable on money transfers since Brexit' I assumed it was a tax. - I usually transfer via Currencies Direct but was trying to ascertain if I could avoid this additional fee.
It would be great if she's wrong about this?
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Posted: Fri Oct 22, 2021 8:27am
Legendary helpful member
Hi Julie.
If you transfer the money as you normally do via Currencies Direct, I would very much doubt if there would be any charge.
As the money transferred via CD should come through an EU IBAN number and not attract currency exchange fees from Sabadell.
Lynn
Posted: Fri Oct 22, 2021 12:33pm
Thanks for your help Lyn. I'll give them a ring.
Posted: Fri Oct 22, 2021 1:06pm
Helpful member
Transfer money using Wise every time. John.
Posted: Fri Oct 22, 2021 3:45pm
charliesdad wrote on Fri Oct 22, 2021 1:06pm:
Transfer money using Wise every time. John.
Hi john
Thanks. Are the rates better with wise? I've not used them but Currency Direct normally match.
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