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Anyone using Revolut or Starling for Direct Debits?

Posted: Mon Oct 25, 2021 12:21pm
17 replies386 views7 members subscribed
undergardener

Posts: 59

5 helpful points

Location: La Cala De Mijas

Joined: 1 May 2019

Hi

I am currently using Banco Sabadell, primarily just for direct debits in respect of my property. However, they now charge 160 euros a year and I have decided to look around for a cheaper banking option. Revolut and Starling seem reasonable options but I am not sure if the receiving banks in Spain generally charge for receiving payments from UK banks.

Any comments/thoughts about your experiences, including your use of either bank, to help manage Direct Debits for a property in Spain would be appreciated.

Thanks

Tworowans

Posted: Mon Oct 25, 2021 2:24pm

Posts: 56

38 helpful points

Location: Álora

Joined: 23 May 2020

Posted: Mon Oct 25, 2021 2:24pm

I’m in the same boat. I objected to Sabadell taking fees without giving notice of increases so I’ve opened accounts with both Revolut and N26

When I move accounts it will be to N26 because it’s a EUR account with an ES IBAN 

Some Spanish merchants’ systems are still not set up to accept non ES IBAN transactions (notwithstanding Article 9 etc)

Last time I looked Revolut did not provide ES IBAN accounts (last time I looked it was Lithuania - a country I couldn't point at on a map) so I opted for a GB IBAN instead because they also have a Crypto exchange service and GB just makes life easier

undergardener

Posted: Mon Oct 25, 2021 3:16pm

undergardener

Original Poster

Posts: 59

5 helpful points

Location: La Cala De Mijas

Joined: 1 May 2019

Posted: Mon Oct 25, 2021 3:16pm

Tworowans wrote on Mon Oct 25, 2021 2:24pm:

I’m in the same boat. I objected to Sabadell taking fees without giving notice of increases so I’ve opened accounts with both Revolut and N26

When I move accounts it will be to N26 because it’s a EUR account with an ES IBAN 

Some Spanish merchants’ systems are still not set up to accept non ES IBAN transactions (notwithstanding Article 9 etc)

Last time I looked Revolut did not provide ES IBAN accounts (last time I looked it was Lithuania - a country I couldn't point at on a map) so I opted for a GB IBAN instead because they also have a Crypto exchange service and GB just makes life easier

Thanks for the prompt reply. I did briefly look at N26 but I don't think it's an option for me as I'm not a resident in Spain??

Holaitsdavid

Posted: Mon Oct 25, 2021 10:46pm

Holaitsdavid

Very helpful member

Posts: 1475

556 helpful points

Location: Mijas Costa

Joined: 30 Mar 2021

Posted: Mon Oct 25, 2021 10:46pm

undergardener wrote on Mon Oct 25, 2021 3:16pm:

Thanks for the prompt reply. I did briefly look at N26 but I don't think it's an option for me as I'm not a resident in Spain??

I had no problem with N6 before being a 'resident', I did however have an address to send the card, they are a great service, They just ask which country you are in, it's basically a Euro account. No longer £££.  

https://nomadgate.com/open-n26-account/

undergardener

Posted: Tue Oct 26, 2021 7:52pm

undergardener

Original Poster

Posts: 59

5 helpful points

Location: La Cala De Mijas

Joined: 1 May 2019

Posted: Tue Oct 26, 2021 7:52pm

Holaitsdavid wrote on Mon Oct 25, 2021 10:46pm:

I had no problem with N6 before being a 'resident', I did however have an address to send the card, they are a great service, They just ask which country you are in, it's basically a Euro account. No longer £££.  

https://nomadgate.com/open-n26-account/

Ok, thanks. This is very useful 👍

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MarkH

Posted: Wed Oct 27, 2021 9:43am

Posts: 12

3 helpful points

Location: Fuengirola

Joined: 20 Apr 2019

Posted: Wed Oct 27, 2021 9:43am

I have both N26 and Revolut. The basic accounts are free (the fee charging accounts offer free travel insurance and other benefits). I tend to keep savings on N26 because they are covered by EU banking insurance. Revolut is brilliant for currency exchange - and when it gets its Irish licence will also be covered by the EU insurance. I have standing orders and direct debits going from both without any difficulty. And I have a monthly standing order from both accounts into my Sabadell account that ensures I meet the 700 euro monthly income to have a free banking service. 

Jeffers

Posted: Wed Oct 27, 2021 11:07am

Posts: 163

40 helpful points

Location: La Cala De Mijas

Joined: 14 Mar 2021

Posted: Wed Oct 27, 2021 11:07am

MarkH wrote on Wed Oct 27, 2021 9:43am:

I have both N26 and Revolut. The basic accounts are free (the fee charging accounts offer free travel insurance and other benefits). I tend to keep savings on N26 because they are covered by EU banking insurance. Revolut is brilliant for currency exchange - and when it gets its Irish licence will...

... also be covered by the EU insurance. I have standing orders and direct debits going from both without any difficulty. And I have a monthly standing order from both accounts into my Sabadell account that ensures I meet the 700 euro monthly income to have a free banking service. 

If you are paying 700 euros into Sabadell to get free banking, why don't you pay your DDs via you Sabadell account?

MarkH

Posted: Wed Oct 27, 2021 11:40am

Posts: 12

3 helpful points

Location: Fuengirola

Joined: 20 Apr 2019

Posted: Wed Oct 27, 2021 11:40am

Jeffers wrote on Wed Oct 27, 2021 11:07am:

If you are paying 700 euros into Sabadell to get free banking, why don't you pay your DDs via you Sabadell account?

I have sterling DDs and Revolut provides a far better exchange rate than Sabadell!

Jeffers

Posted: Wed Oct 27, 2021 11:52am

Posts: 163

40 helpful points

Location: La Cala De Mijas

Joined: 14 Mar 2021

Posted: Wed Oct 27, 2021 11:52am

MarkH wrote on Wed Oct 27, 2021 11:40am:

I have sterling DDs and Revolut provides a far better exchange rate than Sabadell!

I pay 700 euros into Sabadell which gets me free banking. I have my DDs electric, council tax, water etc taken from my Sabadell account with no charge.

I would like to have a better exchange rate than I currently get with Sabadell, I'll have a look at Revolut.

I don't understand the need to have Sterling DDs. Which account do your DDs come  out of?

Marko21

Posted: Wed Oct 27, 2021 2:12pm

Posts: 3

Location: Duquesa

Joined: 12 Jul 2021

Posted: Wed Oct 27, 2021 2:12pm

Since brexit Sabadell only charge you for transferring over €18k. I sent 4 payments over 4 days with no charge at all. Revolut are good for good exchange rates and instant. But not sure if you can use them for direct debits etc. Still learning with Revolu 

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