Transfer wise account questions

erniemossity wrote on Tue Feb 16, 2021 3:22pm:

Hi all,Thinking of opening a Transferwise account to avoid the high charges from the Spanish banks. I currently have a Sabadell Key account, so get charged approx €35 a quarter. I am a non resident living in the UK and have a holiday place inVillamartin. I’ve seen that it’s no problem setti...

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...ng up Direct Debits from the Transferwise account for utility bills etc. Can the Transferwise account be a Joint account? Do I have to give a Spanish address? Will the ATM card be mailed to my UK address? Are the charges at ATMs steep for withdrawing cash? What is their customer service like?

Any negative aspects to Transferwise?

Thanks in advance

Ian

tebo53 wrote on Tue Feb 16, 2021 4:19pm:

Q1..No they don't do joint accounts. My wife and I want one too.

Q2..You don't need to supply an address only bank details.

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Q3..Yes they will post a card to your UK address.

Q4. You can only withdraw €200 per month without being charged for withdrawal. I seem to remember its quite a hefty amount. 

Q5.. I've never had to use their customer service so can't comment. 

I've been using Transferwise for 7 years and never had a problem. Transfers are done within seconds from my Barclays UK bank to Sabadell here in Benidorm. 

Steve 

erniemossity wrote on Tue Feb 16, 2021 3:22pm:

Hi all,Thinking of opening a Transferwise account to avoid the high charges from the Spanish banks. I currently have a Sabadell Key account, so get charged approx €35 a quarter. I am a non resident living in the UK and have a holiday place inVillamartin. I’ve seen that it’s no problem setti...

Read more...

...ng up Direct Debits from the Transferwise account for utility bills etc. Can the Transferwise account be a Joint account? Do I have to give a Spanish address? Will the ATM card be mailed to my UK address? Are the charges at ATMs steep for withdrawing cash? What is their customer service like?

Any negative aspects to Transferwise?

Thanks in advance

Ian

tebo53 wrote on Tue Feb 16, 2021 4:19pm:

Q1..No they don't do joint accounts. My wife and I want one too.

Q2..You don't need to supply an address only bank details.

Read more...

Q3..Yes they will post a card to your UK address.

Q4. You can only withdraw €200 per month without being charged for withdrawal. I seem to remember its quite a hefty amount. 

Q5.. I've never had to use their customer service so can't comment. 

I've been using Transferwise for 7 years and never had a problem. Transfers are done within seconds from my Barclays UK bank to Sabadell here in Benidorm. 

Steve 

trotter wrote on Tue Feb 16, 2021 6:51pm:

Transferwise are very good. We use them to fund our N26 account from our UK Santander account.

If you're looking for an alternative to the Sabadell key account for non residents and have a Spanish address, take a look at https://n26.com/en-es

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Spanish IBAN for direct debits in Spain, €100,000 bank compensation coverage (not available with Transferwise), fee free account, fee free ATM withdrawals and excellent customer service in English. We've been with them for well over 12 months and very happy with the service.

Aspen1992 wrote on Tue Feb 16, 2021 7:24pm:

Hi Trotter

With the standard account you only get 3 free withdrawls a month and no telephone helpline you have to have the smart account for that and its 4.90 per month.

trotter wrote on Tue Feb 16, 2021 10:51pm:

Thanks for the info', I've never heard of the "smart" account. That must be something new because our account is still fee free. However, I do believe that you can upgrade to a "posh" debit card for extra cash.

Yes, you only get 3 free ATM withdrawals a month but for the maximum available at the ATM for each withdrawal. The highest I've got for one withdrawal has been €500. (Transferwise only offer a total of €200 per month free)...

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No helpline required....The customer service is done online via chat with a real person, not the usual rubbish automated chat. I've only had reason to use this once and it was very efficient. Saved a fortune on telephone calls, especially when the number is a paid one and I'm in Spain/UK.

However, as the O/P doesn't appear to want to use a Spanish address perhaps this isn't for them.

****** EDIT******

I've just had a quick look on their website at  https://n26.com/en-es  and seen the "Smart account" which is a premium account......The basic account is still fee free.

"

N26 Smart—spend and save with confidence

We’re introducing N26 Smart, the new premium bank account with all the tools you need to manage your account. Save up and budget better with 10 Spaces sub-accounts, and share them with up to 10 other N26 users thanks to Shared Spaces. Get a Mastercard in your choice of color and call Customer Support phone line, whenever you need. You can also get a full overview of your monthly expenses with N26 Statistics, the best way to understand your spending habits.

  "

However, the standard account is still free.......

" 

N26 Standard

The free online bank account from N26

Your N26 online bank account comes with everything you need to spend, save and keep track of your money, all under one app. Open yours in a few minutes, and start making mobile payments.

"