Bank account - Page 2

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Bank account - Page 2


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  #11 (permalink)  
Old 16th April 2019, 04:05 PM
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Here it is
https://www.dailymail.co.uk/news/art...home-firm.html

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  #12 (permalink)  
Old 16th April 2019, 04:31 PM
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OMG... I suppose this could happen, maybe better to stay with the big guns from the UK and do a search and see what funds they have behind them, I thought money stayed in a clients account until its sent... You just never know... Looks like someone had their hand in the till :[

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Old 16th April 2019, 04:42 PM
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When transferring larger sums with fx companies (pension lump sum or for property purchases) I have split them into a number of smaller transactions, waiting until the first lot of funds has been received before sending the next one, so as to minimise risk. I've gone for immediate transfers rather than lodging the funds with them hoping for a slightly better exchange rate, too, so the funds are with them for as little time as possible.
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Old 16th April 2019, 04:53 PM
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Isabel
It was Solbank that would not be persuaded not to charge me the 800 to transfer a sterling savings deposit of 160,000.

There was no way they would charge less than the 0.5% on the total amount, no matter how the money was transferred and to whatever bank anywhere. Believe me I tried every possibility, but they would not help me.

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Old 16th April 2019, 05:16 PM
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Quote:
Originally Posted by joannadawns View Post
I'm using an FX company for money transfers and the two I've shortlisted don't charge, The main worry would be if the bank charges for the inputs from the FX which I will most likely do every 3 months or so, that way I can pick better transfer rates. ATM machines is also worrying whether they charge if you don't use their machine, these days in the UK your an idiot if you pay to withdraw money from an ATM Machine but my understanding is that Spain banks can and do charge, so having a bank that's well represented across Spain with ATM is important and also what charges are connected to the bank card... Thank you for the input. :]
With reference to banks charging for large transfers. We used XE and they transferred the bulk of our flat purchase in lots all totalling 25000 as they said Spanish banks make a charge for any transfer over this amount. I trusted them and there was no charge.

I have a Santander 123 free non residents account and there are NO charges (although the bank manager said there should be, he waived them as long as I paid x amount in and have my bills taken out)

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Old 30th April 2019, 01:54 PM
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I've been trying to find out from my bank in Spain my lawyer has just setup what charges imposed for transferring funds in, so far I have three different answers from the bank, one in writing which doesn't match the detailed answers I just got over the phone which went between .2 and .4% if national or not!
I asked a very specific question via my lawyer also, but still differing answers.

The bank latest answer is no charges, no commission, but it will take two days, so I will get whatever the banks rate is in two days time.
Does anyone have a good or bad money transfer story with Sabadell, any fees? And how did they do with the exchange rate when compared to the best exchange rate available at time of transfer?
This is a non resident account.

I've arranged to get a call from the bank manager to get the answers straight once & for all. (I hope)

I'm also looking at opening a euro account in UK & transfer funds into that euro account.
Annoying that my current bank won't or can't do that so means going to another UK bank.

Looking more like I need to use money transfer company, never used one before, to make sure I get best rate possible.
Can anyone suggest one they have used in conjunction with Sabadell?


Last edited by Muddy; 30th April 2019 at 01:57 PM.
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Old 30th April 2019, 02:14 PM
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Opened sabadell. No fees when transferred 2k into that from uk bank..agent came with us to bank and asked and says they also free for large transfers ..lets.hope translation faithful lol.
They are geared up for brits...contracts in English and lots of pages on website about transfers.

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Old 30th April 2019, 04:42 PM
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Quote:
Originally Posted by andyviola View Post
Opened sabadell. No fees when transferred 2k into that from uk bank..agent came with us to bank and asked and says they also free for large transfers ..lets.hope translation faithful lol.
They are geared up for brits...contracts in English and lots of pages on website about transfers.
Hi andyviola
Well hope all goes well if and when you make a large transfer.

I don't feel confident with Sabadell because every time I've called them I get different info. E.g. transfers, .2% then .4%, or .2 if national, then today no fee and no commission, just the difference on the exchange rate they post on their site.
I hope I get the call from the manager to verify what I was last told.
This information mix they're giving me doesn't inspire confidence, and I with sterling bouncing around I would like to get cash moved into euros, but I'll probably just move it to a euro account in the UK and not wait for an answer from the bank here in Spain.

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Old 1st May 2019, 07:25 AM
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Sabadell only do what is written, if you get a verbal quote it is not worth anything. The exchange rate has the commission built in, so it is lower than a currency transfer company. Ask them for a written quote for sending x amount, how much will be in your account, then compare with a few others.

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  #20 (permalink)  
Old 7th May 2019, 12:10 PM
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Quote:
Originally Posted by Simon22 View Post
Sabadell only do what is written, if you get a verbal quote it is not worth anything. The exchange rate has the commission built in, so it is lower than a currency transfer company. Ask them for a written quote for sending x amount, how much will be in your account, then compare with a few others.
Well I didn't get a call from the bank, and I called yet again to ask for the bank to call me, and while I was at it I asked once again what would I be charged.
This time around I was told .4%

You're right, will have to be a written quote because it's impossible to trust any bank what they say over the phone.

I'll ask for a quote via email if I can, but an answer I got back already didn't refer to my very specific question via my lawyer. I'm non resident and transfer from my UK account in sterling or euros to my Spanish account. How hard can that be, how many times can you ask the same question and not get a straight answer.
The first paragraph starts off "Nationals originating in and outside of Banco Sabadell"

Banks need to be forced to make this all much more transparent and stop ripping people off.
Their is no maximum charge on transfers with Sabadell, probably most others also, it's no more than robbery and for doing very little.

In addition, looking at all the money transfer companies, they all seem to be in reality charging .7% to 1% when you look at the real exchange rate compared to what they actually give you.

The big question. Has anyone avoided these charges by transferring funds to your lawyers ring-fenced account, then they transfer it to your Spanish account?
That's if you can trust your lawyer!

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