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Think I've had my fill of Sabadell - any other recommendations?

Posted: Mon Oct 14, 2019 10:14am
25 replies835 views9 members subscribed
tonygold58

Posts: 87

Location: Villamartin

15 helpful posts

i have  a mastercard debit card from Sabadell which i believe i pay €30 a year to have. just returned from a 5 week visit to Spain and discovered that every time i have used the debit card (over 90 times) i have been charged 80 cents. not so bad when you have spent €100+ but on a french or spanish €1 toll it is crazy. might be my fault but i assumed  (obviously wrongly) that debit transactions were 'free'.

can anyone recommend a bank in villamartin area that i may get a better deal overall. i am non-resident and keep around €2,000 in the account at all times. i would need new bank to swap my direct debits etc (water, electric fiscal fees etc). i am also charged a quarterly fee for the account but don't have that figure to hand at present.

many thanks for any advice.

PeteKnight

PeteKnight

Legendary helpful member

Mon Oct 14, 2019 11:19am

Posts: 1776

Location: Villamartin

2008 helpful posts

Posted: Mon Oct 14, 2019 11:19am

If you’re a U.K. resident then take a look at Starling bank.

It’s a U.K. based internet bank and their standard account gives a debit card that is free to use abroad. You get the standard MasterCard exchange rate, so it’s the best exchange rate that you’ll get.

There’s actually no reason why you can’t use a standard U.K. account for all of your utility bills, just give the IBAN numbers to your Spanish utilities and it will be fine, just make sure that you aren’t being charged by your U.K. bank for the foreign transactions.

However, Starling also do a Euro account, which you could also use to pay your Spanish utilities. There is a small charge to load money into your Euro account, but the advantage is that you can move money into there when the exchange rate is good (or should I say ‘not quite so bad’) rather than paying whatever the rate is at the time for each individual transaction.

We’ve been using a Starling joint account for our day to day expenditure when we’re abroad and it’s great. The advantage of a joint account is that we just put money in their and spend it on either of our debit cards. As you load it up with GB £, it and be spent anywhere in the world that you go, and you know you’re getting the best rate.

I applied for a Starling Euro account recently (they’ve only just been introduced), with the intention of transferring all of my Spanish utilities over to that account and getting rid of our Sabadell account. I’ve not done any of that yet, but it’s on my list of things to do when I’m over again in November. I’m hoping that the whole Brexit debacle will end in the Boris giving Parliament no choice to withdraw Article 50, at which point the exchange rate will improve massively and I’ll do a transfer into my Euro account to fix the rate.

The Starling accounts are managed through an app, which is great. As soon as you make a payment you get a notification of exactly how much you’ve spent, so no nasty surprises.

Pete.

tonygold58

tonygold58

Original Poster

Mon Oct 14, 2019 11:53am

Posts: 87

Location: Villamartin

15 helpful posts

Posted: Mon Oct 14, 2019 11:53am

PeteKnight wrote on Mon Oct 14, 2019 11:19am:

If you’re a U.K. resident then take a look at Starling bank.

It’s a U.K. based internet bank and their standard account gives a debit card that is free to use abroad. You get the standard MasterCard exchange rate, so it’s the best exchange rate that you’ll get.

There’s actually no reason why you can’t use a standard U.K. account for all of your utility bills, just give the IBAN numbers to your Spanish utilities and it will be fine, just make sure that you aren’t being charged by your U.K. bank for the foreign transactions.

However, Starling also do a Euro account, which you could also use to pay your Spanish utilities. There is a small charge to load money into your Euro account, but the advantage is that you can move money into there when the exchange rate is good (or should I say ‘not quite so bad’) rather than paying whatever the rate is at the time for each individual transaction.

We’ve been using a Starling joint account for our day to day expenditure when we’re abroad and it’s great. The advantage of a joint account is that we just put money in their and spend it on either of our debit cards. As you load it up with GB £, it and be spent anywhere in the world that you go, and you know you’re getting the best rate.

I applied for a Starling Euro account recently (they’ve only just been introduced), with the intention of transferring all of my Spanish utilities over to that account and getting rid of our Sabadell account. I’ve not done any of that yet, but it’s on my list of things to do when I’m over again in November. I’m hoping that the whole Brexit debacle will end in the Boris giving Parliament no choice to withdraw Article 50, at which point the exchange rate will improve massively and I’ll do a transfer into my Euro account to fix the rate.

The Starling accounts are managed through an app, which is great. As soon as you make a payment you get a notification of exactly how much you’ve spent, so no nasty surprises.

Pete.

Many thanks again for your detailed response Peter. I will look into the account you suggest and if I need to ask any further advice I will be in touch if that is ok?

All the best.

PeteKnight

PeteKnight

Legendary helpful member

Mon Oct 14, 2019 12:01pm

Posts: 1776

Location: Villamartin

2008 helpful posts

Posted: Mon Oct 14, 2019 12:01pm

Of course Tony, I’m still trying to settle on the best approach my self, so anything you can add will be useful.

The Starling bank is very easy to sign-up to, you just download the app, fill in some details, photograph your ID and record a short selfie video of you repeating the words on the screen.

The only slightly clunky bit is that if you want a joint account then both people need to already have a Starling personal account, but other than that I’m totally sold on them. If I didn’t already have a bank account that I was happy with then I’d be tempted to use Starling for all of my day-to-day banking.

Pete.

Yorkshire Lass

Yorkshire Lass

Helpful member

Mon Oct 14, 2019 4:27pm

Posts: 323

Location: La Marina

287 helpful posts

Posted: Mon Oct 14, 2019 4:27pm

I fell in to the same trap a while back. I went into Sabadell to ask about the transaction charges. I was on the old style Non Resident Account. My account was changed to a Key Plus Account for Non Residents. The quarterly fee is €35, there is no annual fee for the card, however if Account in joint names I think you pay for a second card but not 100% on that. I use the card whilst out in Spain without incurring transaction fees. The old account I believe was €30 a quarter plus annual fee of €30 for the card. 

The Starling Account looks promising. 

Andrew65

Andrew65

Very helpful member

Mon Oct 14, 2019 10:15pm

Posts: 881

Location: La Marina

563 helpful posts

Posted: Mon Oct 14, 2019 10:15pm

It’s 30eu yearly with Sabadell for a second debit card for joint accounts.

tonygold58

tonygold58

Original Poster

Mon Oct 14, 2019 11:05pm

Posts: 87

Location: Villamartin

15 helpful posts

Posted: Mon Oct 14, 2019 11:05pm

Yorkshire Lass wrote on Mon Oct 14, 2019 4:27pm:

I fell in to the same trap a while back. I went into Sabadell to ask about the transaction charges. I was on the old style Non Resident Account. My account was changed to a Key Plus Account for Non Residents. The quarterly fee is €35, there is no annual fee for the card, however if Account in joint names I think you pay for a second card but not 100% on that. I use the card whilst out in Spain without incurring transaction fees. The old account I believe was €30 a quarter plus annual fee of €30 for the card. 

The Starling Account looks promising. 

Thanks Yorkshirelass. That account sounds far more suitable for me. Is it something I can do online or will I have to wait till next out and change it over in branch.

Yorkshire Lass

Yorkshire Lass

Helpful member

Tue Oct 15, 2019 8:32am

Posts: 323

Location: La Marina

287 helpful posts

Posted: Tue Oct 15, 2019 8:32am

tonygold58 wrote on Mon Oct 14, 2019 11:05pm:

Thanks Yorkshirelass. That account sounds far more suitable for me. Is it something I can do online or will I have to wait till next out and change it over in branch.

I did it in the bank, I had to sign new term & conditions, however I suppose you could look online or email them.

TheRower

TheRower

Helpful member

Wed Oct 16, 2019 1:14am

Posts: 285

Location: Villamartin

159 helpful posts

Posted: Wed Oct 16, 2019 1:14am

I learnt the hard way too about Sabadell transaction charges. This along with the ever increasing quarterly charge led us to change bank last year. We switched to Bankinter through their Los Dolces branch. The lady in the bank was very helpful and rang both Iberola and the water company to change the bank details over. They charge 5 Euros a month and I think it was 30 Euros if you want a bank card. Very pleased so far and we have even received some details of changes we made, to monthly transactions posted to our UK address, something we never experienced with Sabadell.

Andrew65

Andrew65

Very helpful member

Wed Oct 16, 2019 8:58am

Posts: 881

Location: La Marina

563 helpful posts

Posted: Wed Oct 16, 2019 8:58am

I find the Sabadell banking app and website in English are excellent, as are the in branch staff, it doesn’t seem worth changing to save 30eu a year as we pay quarterly and not per transaction. Like everything though it is personal preference.

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