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Posted: Tue Jan 26, 2021 4:42pm
Chris3928 wrote on Tue Jan 26, 2021 8:35am:
I've been doing the deposit transfer for the last 12 months works really well with no problems
I think this looks to be an ideal plan for me but would like to know the exchange rate they would use. That is how much above the currency exchange rate on the day.
Posted: Tue Jan 26, 2021 4:45pm
Mags03169 wrote on Mon Jan 25, 2021 3:26pm:
Yes , they set this up for us to transfer the required 700 euros per month to qualify for free banking ( and a very expensive car insurance product) but it works well enough, no issues so far & a decent rate .
Are you able to tell me the exchange rate that was applied.
Thank you
Posted: Tue Jan 26, 2021 4:51pm
Austin 3363 wrote on Tue Jan 26, 2021 4:42pm:
I think this looks to be an ideal plan for me but would like to know the exchange rate they would use. That is how much above the currency exchange rate on the day.
To be honest I've not checked on that but it must be better than paying transfer charges and their banking app is very easy to use
Lancelot wrote on Tue Jan 26, 2021 10:08am:
morning, have you worked out the exchange rate they've given? If you could share on here that might be useful.
thanks
Hope this helps -
On 14/01/2021 I transferred £700 from my UK account to my Transferwise account. I changed this to euros at a rate of 1.12183 , this got me 782.54 euros . From this amount I transferred 700 euros to Sabadell account & Transferwise charged me a fee of 2.44 euros , no fees charged by Sabadell.
Posted: Tue Jan 26, 2021 6:36pm
Chris3928 wrote on Tue Jan 26, 2021 8:35am:
I've been doing the deposit transfer for the last 12 months works really well with no problems
I wonder if you could let me know what was the exchange rate used for the transfer
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Posted: Tue Jan 26, 2021 6:39pm
Kimmy11 wrote on Mon Jan 25, 2021 11:33pm:
Hi Austin,
My response in another thread about Starling bank:
Read more...
"I met with my personal banker at Sabadell today. She offered a solution for those of us who make currency transfers from UK banks and have been incurring charges since 1 January 2021 (with Sabadell, the fee is 0.35% of the transaction value and a minimum charge of €18 per transaction). It's called the "Regular Transfer Plan": Sabadell can set up a monthly direct debit from your Spanish account which draws down a set amount from your UK account, on either the 10th or 25th of each month, and the money is transferred to your Spanish bank at the prevailing business rate with no charges applied at either end. The minimum amount that has to be transferred is £150 per month, or £300 per quarter, and the maximum is £10,000. You can also make one-off transfers, up to £10,000, through the same DD mechanism, but for those instances, you need to email your branch to arrange it."
I haven't set this up, as I already use Transferwise for my currency transfers and my personal banker confirmed that, as Transferwise has a Belgian IBAN, I wouldn't incur Sabadell's new transfer fee for using Transferwise.
Kind regards,
Kim
Very many thanks for this very useful information. I was wondering if they told you what exchange rate they would apply to the £,s being converted into euros.
Mags03169 wrote on Tue Jan 26, 2021 6:04pm:
Hope this helps -
On 14/01/2021 I transferred £700 from my UK account to my Transferwise account. I changed this to euros at a rate of 1.12183 , this got me 782.54 euros . From this amount I transferred 700 euros to Sabadell account & Transferwise charged me a fee of 2.44 euros , no fees charged by Saba...
Read more...
...dell.
OK, now I'm officially really pee'd off
My 1st transfer to Sabadell was for 5523 euros (£5k) and Sabadell charged me 19.33 for the privilege. I transferred £700 this morning via TorFX (at a rate of 1.1048) and 773.50 went into my account, and they've charged me 18.00 euros. Someone's taking the mickey
Posted: Tue Jan 26, 2021 7:52pm
Legendary helpful member
This post that was quoted has been deleted.
Should that be 1.1297??
Posted: Tue Jan 26, 2021 7:59pm
Legendary helpful member
Austin 3363 wrote on Tue Jan 26, 2021 6:36pm:
I wonder if you could let me know what was the exchange rate used for the transfer
Yesterday, 25 January, I transferred £1,500 via Transferwise. The exchange rate was 1.12448 - after paying their exchange fee of £5.49, I received Eu 1,680.55 into my Spanish bank and Sabadell didn't apply any additional charges.
Kind regards,
Kim
Posted: Tue Jan 26, 2021 8:25pm
Legendary helpful member
Ooooo Trotter, we bought in 2016 at 1.31 - those were the days! ;o)
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