news from sabadell

Chatsworth25 wrote on Mon Feb 1, 2021 4:15pm:

I noted this from their website!!

"Dear customer, 

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In view of the uncertainty generated by Brexit, we would like to inform you that Banco Sabadell Group provides services in the United Kingdom through a Sabadell Spain operational branch and its subsidiary, TSB, which is a domestic British bank.

In order to be prepared for any situation, Banco Sabadell has requested authorisation from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in the United Kingdom for the branch to operate, if necessary, as a local third country branch, and to guarantee that customers in the United Kingdom will be able to continue operating as usual and receiving the same services that they receive today. TSB would not be required to take any further action in order to continue operating as a domestic bank. 

For this reason, our customers do not need to take any action. We will keep you up to date with any news in relation to these events."

i also understand that if you take out private medical insurance via them that they will give you free banking 

I dont bank with sabadell but with cajamer rural (as i,m awaiting my TIE ) but i would be interested how people are coping with their banking etc POST BREXIT 

monkeynuts wrote on Wed Feb 3, 2021 8:52pm:

Hi Chatsworth25, Many thanks for posting this. A few weeks ago I started a thread about Sabadell charging €18.00 for each transfer from the uk to spain.

I must confess to being a little confused by their latest customer info and whether this has any bearing upon their transfer charges.

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A few people on here  use TransferWise to move money over from the uk. They send to their own Spanish bank and. then to our Sabadell branches. It is an internal transfer and therefore doesn't attract the €18.00 fee. I use Excell currencies who operate the same system as TW and again no charge is made by Sabadell.

I would not be surprised if Cajamer followed Sabadell by making a charge for transfers. We all know what cowboys these Spanish banks are.

TB wrote on Sun Feb 14, 2021 7:30pm:

I come from experience now. A few weeks ago I got notification that La Caixa would be charging for transfers from the UK, 15 or 18 euro I think.

So I went to the  bank to clarify, I was told yes this is correct.

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A few weeks ago I transferred money from my UK bank using Xoom, (that's an Ebay company, I formerly used Hifx who are now eaten up by XE) the money arrived no problem and there has not been any charge or deduction applied by La Caixa.

I now assume that the charges they are applying are for UK bank to Spanish bank direct transfers. 

I've a vague memory also of a recent email from Natwest saying that they have cancelled transfer charges to Europe but as I don't use direct transfer I didn't take much notice so it hasn't really stuck.

monkeynuts wrote on Sun Feb 14, 2021 8:13pm:

Hi TB, many thanks for that. I think more and more people will have monies and uk pensions sent over with people like TransferWise and those that you use.