Sabadell Bank - Information on the take-over from Lloyds

Sabadell Bank - Information on the take-over from Lloyds on 24th March 2014.

We have just received this letter and can't really work out if it means we will be paying 15 euros a quarter even with over 150 euros in the account or whether we will not be charged if we have over 150 euros in the account...any ideas anyone?

It says that accounts with under 150 euros a year will be charged 60 euros a year. 60 euros a year is 15 euros a quarter. Is it me or is it written in a confusing manner?





Jan.

It's been written by a four year old, just like the distant banking card's missing activate now button.

It does mention existing arrangements stand.

We are equally confused, has anyone found a bank with less or no charges, time is running out if you want to switch without penalty

Jan I am not going to try to second guess our friends at Sabadell but my charges for 2013 from them were 12.50 a quarter. I would normally have in excess of 150€ in the account. Have given up trying to understand how they operate and try to use them as little as possible.

Glyn wrote:It's been written by a four year old, just like the distant banking card's missing activate now button.

It does mention existing arrangements stand.

If that's true, then our existing arrangements with Lloyds/Halifax were no actual account charges, if the account was in credit, and no charges for machine cash withdrawals. In fact similar to a UK bank - The only difference was that they charged a small fee for issuing our Debit cards each year. Somehow I don't think we will be that lucky again.

Theboundary wrote:Jan I am not going to try to second guess our friends at Sabadell but my charges for 2013 from them were 12.50 a quarter. I would normally have in excess of 150€ in the account. Have given up trying to understand how they operate and try to use them as little as possible.

Hi,
Is that with Sabadel? - If so, it may be that 15 euros a quarter are the new updated charges for an account with over 150 euros in it. However, if that's so, then them saying 60 euros a year for the accounts with under 150 euros or less in them is the same (as I read it) which seems really odd!

Chris21 wrote:We are equally confused, has anyone found a bank with less or no charges, time is running out if you want to switch without penalty

Hi,
We don't want to jump from the frying pan into the fire though. It would be good to be clear on just what Sabadel are offering us, because in the long run it's in their interest to keep the Lloyds existing customers on board.
We never had any difference when we were transferred involuntarily from Halifax in Spain to Lloyds in Spain and everything like Direct Debits was transferred automatically.
Also what penalties would there be to change from one bank to another? - We don't get penalised for this in the UK. I suppose it's understandable to possibly get charged a pro-rata charge of the maintenance charge, if this is applicable, but nothing else.

Oh dear...confused even more!

Jan wrote:Sabadell Bank - Information on the take-over from Lloyds on 24th March 2014.

We have just received this letter and can't really work out if it means we will be paying 15 euros a quarter even with over 150 euros in the account or whether we will not be charged if we have over 150 euros in the account...any ideas anyone?

It says that accounts with under 150 euros a year will be charged 60 euros a year. 60 euros a year is 15 euros a quarter. Is it me or is it written in a confusing manner?

BANK FEES 2014.JPG

Jan.

That reads to me that if you have an existing account with existing arrangements and if it's more than 150 euros your existing charges will stay the same. If there is no existing arrangement then it will be 60 euros a year,

If it's an account that hasn't been used and/or has less than 150 euros then it will incur charges of 60 euros a year,

Tried to access our Lloyds on line bank account but told we need to imput our BS number which we received by post.Unfortunately we have not received this BS number which must be activated before the 15th of March.Tried to phone Lloyds on several occasions each time informed 'all our Operaters are busy please phone later.its giving cause for concern.

We pay 22e a quarter for our sabadell account. We don't put iregular amounts in just a bit
Every now and then but we do try to keep five hundred in all the time and top up.
This will be our first year with sabadel as only completed on our property in November last
Year, but think a bit excessive.

Guapa wrote:Jan, as we understood we'd be charged 25€ a quarter when Santander took Lloyds over, finding out it is only going to be 15€ a quarter was wonderful. We also received this notification this morning.

We fly back to Spain tomorrow so will go ask at the bank asap then report back. Better than reading all these assumptions on forums.

Seems like there are a few variations in what people are being charged quarterly, which is a bit confusing. Be great if you could check for us and report back Guapa.

Hope the sun is shining for you there - Please give us a Quesada weather update too, if you get time while you are there.



Jan.

keithkwll wrote:Tried to access our Lloyds on line bank account but told we need to imput our BS number which we received by post.Unfortunately we have not received this BS number which must be activated before the 15th of March.Tried to phone Lloyds on several occasions each time informed 'all our Operaters are busy please phone later.its giving cause for concern.

Hi keithkwll,

Did you not receive a Sabadell blue card in the post? - It says on it BSOnline and there is a number in the bottom left hand corner - I assume this is the BS number you mention but we haven't activated it yet.

We received this in January and it was sent to our UK address, as is all our banking correspondence.

I found this Frequently Asked Questions (FAQ) section about the change-over on the Sabadell site, which may be of some help. It does help with a few questions and appears to clarify that all the direct debits will be transferred over, which will quell some adverse rumours - It can be translated automatically:
https://www.bancsabadell.com/cs/Satelli ... 006644/es/

The following link address is described as a 'blog to clarify any doubts' on the letter, for those that may not have seen it, just copy and paste into your browser bar : info.lloydsbankinternational.es

Jan.