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Managed to join Wise bank with a view to closing Sabadal account and using Wise to pay direct debits.
Assuming that GBR Pounds are converted to Euros when needed rather than the need to bank Euros. As usual it it so difficult to speak to any bank staff for confirmation. Seem to remember banks need notice of account closing, what is the notice required please.
Bobbykins wrote on Tue Feb 7, 2023 3:03pm:
Managed to join Wise bank with a view to closing Sabadal account and using Wise to pay direct debits.
Assuming that GBR Pounds are converted to Euros when needed rather than the need to bank Euros. As usual it it so difficult to speak to any bank staff for confirmation. Seem to remember banks need notice of account closing, what is the notice required please....
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I understand that you will need to visit the bank in person to close an account.
Steve
Can't you transfer enough £GB to € on your Wise account. Enough to cover your Direct Debits. Wise use a Belgian IBAN for your Euro account. Moved all my Direct Debits last week to Wise. Visited Iberdola, Hidraqua, SUMA offices and got the DD done without any problems. Closed my Caixa account today in person at the Bank in La Zenia. They tried to give me the runaround but got it done. Will save Me €170 yearly in fees. Caixa are rubbish, closing all Branches and exorbitant fees
Posted: Tue Feb 7, 2023 5:10pm
tebo53 wrote on Tue Feb 7, 2023 3:11pm:
I understand that you will need to visit the bank in person to close an account.
Steve
Thanks Steve, having closed the Villamartin branch without notification that makes a trip to Cabo Roig necessary. Think I’ve made the right decision.
Bobby
Posted: Tue Feb 7, 2023 10:24pm
jimbo1234 wrote on Tue Feb 7, 2023 5:09pm:
Can't you transfer enough £GB to € on your Wise account. Enough to cover your Direct Debits. Wise use a Belgian IBAN for your Euro account. Moved all my Direct Debits last week to Wise. Visited Iberdola, Hidraqua, SUMA offices and got the DD done without any problems. Closed my Caixa account t...
Read more...
...oday in person at the Bank in La Zenia. They tried to give me the runaround but got it done. Will save Me €170 yearly in fees. Caixa are rubbish, closing all Branches and exorbitant fees
Thanks for taking the time to answer. My Wise account has a GB IBAN number and have been using that in the U.K. my question is:-do I need to open a separate account putting euros into a Dutch IBAN account you mentioned?
I don’t want to use my Wise account in the U.K. only want to use a Wise account for banking dds and cash withdrawals in Spain.
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Posted: Tue Feb 7, 2023 11:01pm
Bobbykins wrote on Tue Feb 7, 2023 10:24pm:
Thanks for taking the time to answer. My Wise account has a GB IBAN number and have been using that in the U.K. my question is:-do I need to open a separate account putting euros into a Dutch IBAN account you mentioned?
I don’t want to use my Wise account in the U.K. only want to use a Wise account for banking dds and cash withdrawals in Spain. ...
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You also have a Belgian IBAN account within your Wise account. Have a delve around and you will find it. Click on your Euro balance, click on the 3 dots in the top right corner, click "get proof of account details" that will bring up your Belgian IBAN which you can print.
Posted: Wed Feb 8, 2023 11:36am
Super helpful member
Bobbykins wrote on Tue Feb 7, 2023 10:24pm:
Thanks for taking the time to answer. My Wise account has a GB IBAN number and have been using that in the U.K. my question is:-do I need to open a separate account putting euros into a Dutch IBAN account you mentioned?
I don’t want to use my Wise account in the U.K. only want to use a Wise account for banking dds and cash withdrawals in Spain. ...
Read more...
...
Hi Bobby
On your home page, click on "manage" (bottom right), then "account details", then "get more account details".
Click on the right arrow after the word "euro".
Go back to your home page and you will now see your Euro account. If you want to convert some GBP, simply click on your GBP balance and then click convert. Simples.
Once you have created you Euro account - if a Euro DD comes in (and there are not enough euros in your Euro account) then Wise will auto convert the required amount of GBP to Euros in order to complete the DD. Wise will charge their usual conversion fee each time. I expect it's cheaper to convert your GBP just once per month in order to fulfill your DD, so incurring only one conversion fee.
All of this applies in reverse as well - all my DDs are done by Wise, in both currencies.
Be clear that your Euro DDs have to be set up using your Euro IBAN.
Hope I've helped!
Cheers
Steve
Posted: Wed Feb 8, 2023 2:23pm
MikeT160 wrote on Tue Feb 7, 2023 11:01pm:
You also have a Belgian IBAN account within your Wise account. Have a delve around and you will find it. Click on your Euro balance, click on the 3 dots in the top right corner, click "get proof of account details" that will bring up your Belgian IBAN which you can print.
Thanks for WISE assistance. Managed to squeeze through to get the eu IBAN number Easy when such help is available from you helpful people. One last question tho….if I read the info correctly I have to transfer euros into my Belgian not GB pounds Zat correct?
Posted: Wed Feb 8, 2023 2:29pm
Stevec2x wrote on Wed Feb 8, 2023 11:36am:
Hi Bobby
On your home page, click on "manage" (bottom right), then "account details", then "get more account details".
Read more...
Click on the right arrow after the word "euro".
Go back to your home page and you will now see your Euro account. If you want to convert some GBP, simply click on your GBP balance and then click convert. Simples.
Once you have created you Euro account - if a Euro DD comes in (and there are not enough euros in your Euro account) then Wise will auto convert the required amount of GBP to Euros in order to complete the DD. Wise will charge their usual conversion fee each time. I expect it's cheaper to convert your GBP just once per month in order to fulfill your DD, so incurring only one conversion fee.
All of this applies in reverse as well - all my DDs are done by Wise, in both currencies.
Be clear that your Euro DDs have to be set up using your Euro IBAN.
Hope I've helped!
Cheers
Steve
Steve, wish I’d read your message before I sent mine. Think I’ll just send a lump to Wise from my own U.K. bank to get the ball rolling. Again many thanks.
Bobby
Posted: Wed Feb 8, 2023 2:50pm
Bobbykins wrote on Wed Feb 8, 2023 2:23pm:
Thanks for WISE assistance. Managed to squeeze through to get the eu IBAN number Easy when such help is available from you helpful people. One last question tho….if I read the info correctly I have to transfer euros into my Belgian not GB pounds Zat correct?
All you have to do is send pounds to Wise and that will show up on your £ balance. You then convert to Euros (or any other currency) when it suits you and that will show up on your Euro balance. You can set up DD's and payees as with any other bank. I find it extremely easy to use so once you get into it I am sure you will too.
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