bank charges for transfers uk to spain - Banking and finances in La Cala De Mijas - La Cala De Mijas forum - Costa del Sol forum in the Malaga province of Spain
Private Yoga Shiatsu  Reflexology RLD
Travel Caddy Costa del sol
ASSSA Insurance

Join the La Cala De Mijas forum

Join the La Cala De Mijas forumMy name's Alex and this is my website all about La Cala De Mijas in Spain. Register now for free to talk about Banking and finances in La Cala De Mijas and much more!

bank charges for transfers uk to spain

Posted: Thu Jan 14, 2021 11:13pm
92 replies3384 views16 members subscribed
monkeynuts

Posts: 62

15 helpful points

Location: La Cala De Mijas

Joined: 14 Jan 2021

Hi,

I bank with Sabadell and noticed a charge of €18.00 for commission/fees a day after monies arrived into our account from the uk.

I asked the reason and Sabadell informed me it is due to us leaving the EU. I argued that SEPA regulations were amended last month so that the uk remain within the agreement for free transfers. As with most spanish banks I got no where so I am looking to find honourable banks who wont try and have us over. I am looking at Santander at present but need to get confirmation that they will not impose this charge.

I would be very interested to know whether other banks have been making this charge to you guys.

Cazmac22

Posted: Fri Jan 15, 2021 7:30am

Cazmac22

Helpful member

Posts: 244

75 helpful points

Location: Nerja

Joined: 11 May 2019

Posted: Fri Jan 15, 2021 7:30am

Wow, that’s shocking! I’m with Sabadell too and find the quarterly charges bad enough. Thanks for posting this to raise awareness  Do you know if the charges are scaled to a percentage of the amount transferred, or if this is a standard fee regardless of the amount of the transaction?

AndyP

Posted: Fri Jan 15, 2021 9:31am

AndyP

Helpful member

Posts: 264

171 helpful points

Location: Estepona

Joined: 7 Oct 2016

Posted: Fri Jan 15, 2021 9:31am

Would it maybe not make more sense to use Transferwise? I'm not sure who you use for transferring funds right now but my suggestion would be to get yourself the Transferwise app as it circumvents the issues that you have seen, regardless of the rights or wrongs of it. It's a quick solution to your problem and stops you having to change banks. I've transferred money to my Sabadell account just this morning as it happens. You pay from your UK account into Transferwise but the payment is made from their Spanish bank account into your Spanish account, so it's a domestic transaction with no local fees. The whole process from leaving my account to appearing in my Spanish account took 4.5 seconds. Job done and hassle-free.

I hope the suggestion helps.

Weepenny

Posted: Fri Jan 15, 2021 11:41am

Posts: 36

11 helpful points

Location: Calahonda

Joined: 3 Jun 2019

Posted: Fri Jan 15, 2021 11:41am

I wouldnt use my bank either to make transfers, I use Moneycorp and I get charged £0.00. Like the other reply I pay money into my Moneycorp account do the exchange from Sterling to Euros and then nominate my bank as the receiver and its there in no time. Or use Western Union and pay a minimal fee.

Good luck

monkeynuts

Posted: Fri Jan 15, 2021 4:12pm

monkeynuts

Original Poster

Posts: 62

15 helpful points

Location: La Cala De Mijas

Joined: 14 Jan 2021

Posted: Fri Jan 15, 2021 4:12pm

Cazmac22 wrote on Fri Jan 15, 2021 7:30am:

Wow, that’s shocking! I’m with Sabadell too and find the quarterly charges bad enough. Thanks for posting this to raise awareness  Do you know if the charges are scaled to a percentage of the amount transferred, or if this is a standard fee regardless of the amount of the transaction?

Hi Cazmac22, We don't pay any fees to Sabadell for managing our account. Many years ago friends said that they had complained so Sabadell who then cancelled all charges. We complained and charges were dropped. These latest charges relate to any money transfers from the uk, whether it be from your money broker or a private or state pensions. My charge was levied upon my 4 weekly state pension.

The charge is 3.5% or €18.00 minimum. I was charged €18.00.I have complained to Sabadell who have asked me for more info. Being Spanish they will come back in a few weeks saying my complaint is not upheld.

There is an article in "This is Money dated 14th of this month dealing with this new problem.

I am hoping that not all banks will follow sabadells example and I shall just change babks.

SEPA regs were amended last month in view of Brexit to ensure that the UK remained within the euro scheme thus continuing free transfers of funds.

I think we should boycott Sabadell for any bank who will not impose a transfer fee.

Advertisement - posts continue below

monkeynuts

Posted: Fri Jan 15, 2021 7:13pm

monkeynuts

Original Poster

Posts: 62

15 helpful points

Location: La Cala De Mijas

Joined: 14 Jan 2021

Posted: Fri Jan 15, 2021 7:13pm

Hi again, Apparently Sabadell are in breach of the banking regs and complaints can be made to the banking ombudsman. For my part I think we are unlikely to see anything happening for months if not years so for me its off to another bank.

May I please request from you guys that you have a look at your statements to see whether you have been charged and perhaps drop a post on here with your bank name.

At present the posts from other forums suggest that it is only Sabadell. The amount is not terribly important its the fact that the charge is being made illegally.

Sue65

Posted: Sun Jan 17, 2021 3:37pm

Posts: 9

4 helpful points

Location: Mijas Costa

Joined: 30 Aug 2020

Posted: Sun Jan 17, 2021 3:37pm

Hi

I've just checked my bank account and I transferred £1000 and got charged 15 euros, I bank with Caixbank so they are also charging, I'll have a look at the other options mentioned

monkeynuts

Posted: Sun Jan 17, 2021 3:56pm

monkeynuts

Original Poster

Posts: 62

15 helpful points

Location: La Cala De Mijas

Joined: 14 Jan 2021

Posted: Sun Jan 17, 2021 3:56pm

Sue65 wrote on Sun Jan 17, 2021 3:37pm:

Hi

I've just checked my bank account and I transferred £1000 and got charged 15 euros, I bank with Caixbank so they are also charging, I'll have a look at the other options mentioned

Hi Sue65, Many thanks for that. I am still waiting to hear from Santander. I understand that some money brokers like Currencies Direct will exchange our GBP for Euros and then pay those into a Spanish bank before transferring them to our banks. It is then an internal national transfer and not international from the UK. Please keep us all posted on your enquiries and I shall do likewise.

AndyP

Posted: Sun Jan 17, 2021 4:02pm

AndyP

Helpful member

Posts: 264

171 helpful points

Location: Estepona

Joined: 7 Oct 2016

Posted: Sun Jan 17, 2021 4:02pm

monkeynuts wrote on Sun Jan 17, 2021 3:56pm:

Hi Sue65, Many thanks for that. I am still waiting to hear from Santander. I understand that some money brokers like Currencies Direct will exchange our GBP for Euros and then pay those into a Spanish bank before transferring them to our banks. It is then an internal national transfer and not int...

...ernational from the UK. Please keep us all posted on your enquiries and I shall do likewise.

Look to towards the top of this thread. The solution is there. Transferwise. Honestly, it's a no brainer. I discovered them about a year ago and haven't looked back since.

monkeynuts

Posted: Sun Jan 17, 2021 4:19pm

monkeynuts

Original Poster

Posts: 62

15 helpful points

Location: La Cala De Mijas

Joined: 14 Jan 2021

Posted: Sun Jan 17, 2021 4:19pm

AndyP wrote on Sun Jan 17, 2021 4:02pm:

Look to towards the top of this thread. The solution is there. Transferwise. Honestly, it's a no brainer. I discovered them about a year ago and haven't looked back since.

Hi AndyP, Many thanks, I was not ignoring your earlier advices. Research on the internet suggest that their fees a quite high which would defeat the whole object. May I ask how much you pay TransferWise for exchanging £1,000. Thanks.

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Find more Banking and finances topics from a particular area:


Register for free!

Login to your account

Private Yoga Shiatsu  Reflexology RLD
Travel Caddy Costa del sol
ASSSA Insurance
Advertise your business here
Advertise your property