Join Talk Quesada

Welcome to Talk Quesada! My name's Alex and this is my website all about Ciudad Quesada in Spain. Talk Quesada is free to sign up and use so register below!

Sabadell cash transfer

Sabadell cash transfer

Postby Ron Hill » Tue Jul 04, 2017 6:30 am

Has anyone used the new Sabadell cash transfer system where you can use your debit card from a UK bank for example to transfer funds to your Sabadell account? They charge a €10 flat fee for the service. I've tried it a couple of times using my Santander UK card it seems to work fine and I get the one time security code sent to my module which I enter correctly into Sabadell online banking but then the system puts up an error message and cannot complete the transaction. I've not yet spoken to the bank but wonder if others have had the same experience
User avatar
Ron Hill
 
Posts: 1253
Joined: Thu May 14, 2015 11:48 am
Location: Entre Naranjos
Which part of Spain are you from?: Entre Naranjos
Gender: Male

Re: Sabadell cash transfer

Postby jpeg » Tue Jul 04, 2017 10:53 am

sounds expensive at 10 euros I use transferwise usually transfered within an hour
jpeg
 
Posts: 9269
Joined: Tue Jun 27, 2017 11:24 am
Which part of Spain are you from?: Dolores
Gender: Male

Re: Sabadell cash transfer

Postby TonTri » Tue Jul 04, 2017 11:02 am

I have the same accounts as you, Santander in the UK and Sabadell in Spain. I've not heard of this new scheme but do you not also get charged by Santander for conversion to euros on top of the flat €10 Sabadell fee? That would make it very costly in my eyes.
User avatar
TonTri
 
Posts: 2631
Joined: Thu Nov 10, 2016 5:31 pm
Which part of Spain are you from?: Quesada
Gender: Female

Re: Sabadell cash transfer

Postby Ron Hill » Tue Jul 04, 2017 11:49 am

TonTri wrote:I have the same accounts as you, Santander in the UK and Sabadell in Spain. I've not heard of this new scheme but do you not also get charged by Santander for conversion to euros on top of the flat €10 Sabadell fee? That would make it very costly in my eyes.




No as far as I see it leaves the UK in Sterling and is converted here at no fee. As the currency exchange companies like Smart Currency Exchange who I generally use give you about 2% below the interbank rate then 10€ is good (half) if you're converting say £1000. But as I say I've not been able to get the Sabadell system to work
User avatar
Ron Hill
 
Posts: 1253
Joined: Thu May 14, 2015 11:48 am
Location: Entre Naranjos
Which part of Spain are you from?: Entre Naranjos
Gender: Male

Re: Sabadell cash transfer

Postby Gladys Street » Tue Jul 04, 2017 12:30 pm

I thought €10 was a bit steep. But in an emergency I might use it. I use OFX who charge nothing for transfers to your Sabadell bank account and give 0.5% under the interbank rate for £to€ currency exchanges.
User avatar
Gladys Street
 
Posts: 109
Joined: Fri Jan 01, 2016 11:20 pm
Which part of Spain are you from?: Cabo Roig
Gender: Female

Re: Sabadell cash transfer

Postby Vicb » Tue Jul 04, 2017 8:02 pm

I was notified of this facility while back in the UK and went in to both my British banks, one of which is Santander, to see if they knew how it worked. Neither had any idea but both assumed the exchange rate would be determined by the UK bank. Interesting that this is not the case and also that Sabadell make only a fixed charge.
I will try this facility next time I need to make a transfer and feed back on both whether or not it worked and how the actual transfer compares.
Also interested in the fact that OFX give such a good rate as I am looking for an alternative to my current transfer agent.
Vicb
 
Posts: 6
Joined: Tue Jul 04, 2017 7:37 pm
Which part of Spain are you from?: Dona Pepa, Quesada
Gender: Male

Re: Sabadell cash transfer

Postby daz » Tue Jul 04, 2017 8:42 pm

transferwise for me, they give you exact same current currency exchange rate, no sneaky percentage below the current rate, and charge around fiver for sending £1000. you can even see the real live exchange rate and fee on their home page, before you even become a customer. have a look.
daz
 
Posts: 721
Joined: Sun Dec 11, 2016 9:53 pm
Which part of Spain are you from?: Entre Naranjos
Gender: Male

Re: Sabadell cash transfer

Postby Ron Hill » Wed Jul 05, 2017 6:10 am

Vicb wrote:I was notified of this facility while back in the UK and went in to both my British banks, one of which is Santander, to see if they knew how it worked. Neither had any idea but both assumed the exchange rate would be determined by the UK bank. Interesting that this is not the case and also that Sabadell make only a fixed charge.
I will try this facility next time I need to make a transfer and feed back on both whether or not it worked and how the actual transfer compares.
Also interested in the fact that OFX give such a good rate as I am looking for an alternative to my current transfer agent.



Looking forward to your feedback I guess we're all looking for a better deal with the pound low against the euro. I should have pointed out Sabadell online banking works out the rate for you before completing the transaction which I've compared against my usual agent and it's been the same but I will look at the others mentioned here as well
User avatar
Ron Hill
 
Posts: 1253
Joined: Thu May 14, 2015 11:48 am
Location: Entre Naranjos
Which part of Spain are you from?: Entre Naranjos
Gender: Male

Re: Sabadell cash transfer

Postby Paulr » Wed Jul 05, 2017 10:51 am

Ron Hill wrote:
TonTri wrote:I have the same accounts as you, Santander in the UK and Sabadell in Spain. I've not heard of this new scheme but do you not also get charged by Santander for conversion to euros on top of the flat €10 Sabadell fee? That would make it very costly in my eyes.




No as far as I see it leaves the UK in Sterling and is converted here at no fee. As the currency exchange companies like Smart Currency Exchange who I generally use give you about 2% below the interbank rate then 10€ is good (half) if you're converting say £1000. But as I say I've not been able to get the Sabadell system to work


I'd only use this service in an emergency; it may be cheaper than High St banks, but it's still expensie. I agree with the other posts about TransferWise, a Which? Best Buy. You can register for an account in just a few minutes online: https://transferwise.com. I transferred £1,000 last Friday morning and it was in my account before close of business the same day. I secured a "live" exchange rate of 1.14000 Euros to the £, minus the fee of £4.98, giving me an actual exchange rate of 1.13432 Euros to the £. No hidden fees or interbank % deductions.
User avatar
Paulr
 
Posts: 1122
Joined: Fri Jan 13, 2017 11:52 am
Which part of Spain are you from?: Formentera
Gender: Male

Re: Sabadell cash transfer

Postby crispin8 » Thu Jul 27, 2017 8:08 pm

Many thanks folks for introducing me to TransferWise. They are saving me a lot of money and do things as they should be done these days! I just wish I'd learnt about them sooner!
Again, many thanks :text-goodpost: :text-thankyouyellow:
crispin8
 
Posts: 185
Joined: Sun Mar 19, 2017 10:42 pm
Which part of Spain are you from?: algorfa
Gender: Male

Next






  • Similar Topics
    Replies
    Views
    Last post

Return to Banking and finances

 
 

Who is online

Users browsing this forum: No registered users and 2 guests

Login
Username:


Password:


Remember me


Forgot password?

Register now

Find in Quesada
What are you looking for in Quesada?: