Bank charges

You are correct but there is a syb section


However, as of 1 January 2021 as no extension of the transition period was agreed, the UK is set to leave the single market and customs union, either with an -UK deal, negotiated during the transition period, or without it (i.e. "no-deal" Brexit). For clarity, the UK will at that point maintain participation in the geographic scope, however, this important change will make the / rules applicable to transactions from/to non- jurisdictions also applicable to / transactions with the UK.

From the sepa eu directions.

I received the mail below from Foreign Currency Direct yesterday.

Also. Currency Direct (different company) told me they are refunding any bank charges until they sort the mess out. It is their view that the UK remains in the bank automatic clearing system (i think it is called SEPTA) and therefore there is no justification in the charges.

From Foreign Currency Direct

Dear Richard,

We are almost a month into the New Year, and the newly agreed trading terms between the UK and EU. Whilst the reaction to this from the currency markets has been fairly muted, there have been some changes to the way in which we are able to service clients both living in, and sending money to, the EEA.

We have identified that in some cases, Spanish banks are charging clients to receive funds, citing the fact the UK is no longer part of the EU as justification.

Naturally, we have been working to try and find a resolution for this issue so we can continue to provide the competitive and convenient service our clients are used to. By working with Barclays Bank, we have a solution which avoids these receiving charges, so if you have a payment to make to Spain you can continue to do this without the worry of additional charges being levied.

This function has been put in place today and is effective immediately. You don’t need to do anything differently when making payments, just provide us your recipient’s bank details as usual and we will do the rest.

This issue continues to impact many currency exchange providers and their clients. We’re keen to assist any person sending funds to Spain wanting to avoid these charges. If you know anyone with a currency exchange requirement, please recommend that they use our services; they’ll receive competitive rates and dedicated Account Support, and you’ll receive a £50 Amazon voucher as a thank you.*

We will continue to develop the services we offer our customers in line with the changing economic landscape, and have some exciting updates to share with you throughout this year. In the meantime if you have any questions, or would like to make an international payment, get in touch with our team on 01494 725 353.


Foreign Currency Direct
























Dear Richard,

We are almost a month into the New Year, and the newly agreed trading terms between the UK and EU. Whilst the reaction to this from the currency markets has been fairly muted, there have been some changes to the way in which we are able to service clients both living in, and sending money to, the EEA.

We have identified that in some cases, Spanish banks are charging clients to receive funds, citing the fact the UK is no longer part of the EU as justification.

Naturally, we have been working to try and find a resolution for this issue so we can continue to provide the competitive and convenient service our clients are used to. By working with Barclays Bank, we have a solution which avoids these receiving charges, so if you have a payment to make to Spain you can continue to do this without the worry of additional charges being levied.

This function has been put in place today and is effective immediately. You don’t need to do anything differently when making payments, just provide us your recipient’s bank details as usual and we will do the rest.

This issue continues to impact many currency exchange providers and their clients. We’re keen to assist any person sending funds to Spain wanting to avoid these charges. If you know anyone with a currency exchange requirement, please recommend that they use our services; they’ll receive competitive rates and dedicated Account Support, and you’ll receive a £50 Amazon voucher as a thank you.*

We will continue to develop the services we offer our customers in line with the changing economic landscape, and have some exciting updates to share with you throughout this year. In the meantime if you have any questions, or would like to make an international payment, get in touch with our team on 01494 725 353.


Foreign Currency Direct

We were charged over 200 euros last year by sabadelbank. I will be moving my account in September when we come over