bank charges for transfers uk to spain

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?

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.

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

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.

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.

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.

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.