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Sabadell Charges - free banking

Sabadell Charges - free banking

Postby MichaelC » Fri Jan 15, 2021 8:38 am

I am with Sabadell Bank and am supposed to get free banking if I deposit 700 Euro each month and hold a qualifying insurance account with them. This is the contract.
However they are now charging 18 euro for incoming international transfers, even though this is a requirement of the alleged free banking.
Is this a breach of contract?
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Re: Sabadell Charges - free banking

Postby marcliff » Fri Jan 15, 2021 9:29 am

There are 3 or 4 threads already going on this same subject.
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Re: Sabadell Charges - free banking

Postby william » Fri Jan 15, 2021 8:06 pm

This is the joys of leaving the EU .
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Re: Sabadell Charges - free banking

Postby andywyatt » Fri Jan 15, 2021 8:27 pm

Transferwise simples bus as said many threads.
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Re: Sabadell Charges - free banking

Postby Paul58 » Fri Jan 15, 2021 9:45 pm

MichaelC wrote:I am with Sabadell Bank and am supposed to get free banking if I deposit 700 Euro each month and hold a qualifying insurance account with them. This is the contract.
However they are now charging 18 euro for incoming international transfers, even though this is a requirement of the alleged free banking.
Is this a breach of contract?



No breach of contract......Use an intermediary such as Transferwise to transfer funds from your UK account and you will avoid the charge and also (probably) save money on the transfer.

....Also take a look at N26 bank https://n26.com/en-es
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Re: Sabadell Charges - free banking

Postby garysl » Fri Jan 15, 2021 10:04 pm

They used to be constrained by EU regulations. Now they're not. That's what you voted for isn't it?
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Re: Sabadell Charges - free banking

Postby Sage » Fri Jan 15, 2021 10:50 pm

garysl wrote:They used to be constrained by EU regulations. Now they're not. That's what you voted for isn't it?


Why do we get these continuous argumentative posts ?
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Re: Sabadell Charges - free banking

Postby marcliff » Fri Jan 15, 2021 11:03 pm

garysl wrote:They used to be constrained by EU regulations. Now they're not. That's what you voted for isn't it?



Sorry but that makes no sense at all. The rules governing the transfer of funds are a SEPA (Single Euro Payment Area) agreement and UK is still in that even though not in the EU.
Sabadell are still bound by the EU regulations and they say that banks shouldn't be charging this fee.

Sabadell is trying it on. No other banks in Spain are levying these fees which are against the EU transfer regulations.
I'm sure that, in time, Sabadell will get their knuckles rapped by the EU but, until then, the only option is to vote with your feet and close your Sabadell account down.

On other sites, even transfers from Currencies Direct, Transferwise and other companies are being hit by this charge and one even says they are using IBAN from other countries but Sabadell are levying the charge on all transfers "originating" from UK.

Now, there are at least 4 threads on this. Read them and make your minds up but look into changing your bank.
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Re: Sabadell Charges - free banking

Postby suzi wong » Sat Jan 16, 2021 12:17 am

marcliff wrote:
garysl wrote:They used to be constrained by EU regulations. Now they're not. That's what you voted for isn't it?



Sorry but that makes no sense at all. The rules governing the transfer of funds are a SEPA (Single Euro Payment Area) agreement and UK is still in that even though not in the EU.
Sabadell are still bound by the EU regulations and they say that banks shouldn't be charging this fee.

Sabadell is trying it on. No other banks in Spain are levying these fees which are against the EU transfer regulations.
I'm sure that, in time, Sabadell will get their knuckles rapped by the EU but, until then, the only option is to vote with your feet and close your Sabadell account down.

On other sites, even transfers from Currencies Direct, Transferwise and other companies are being hit by this charge and one even says they are using IBAN from other countries but Sabadell are levying the charge on all transfers "originating" from UK.

Now, there are at least 4 threads on this. Read them and make your minds up but look into changing your bank.



As Marcliff says read the other posts as we had money transferred from Santander UK account & had no charges,as yet ,our friends had money from currencies index from a EU iban account & got charged €18. Makes no sense.
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Re: Sabadell Charges - free banking

Postby Manuman55 » Sat Jan 16, 2021 2:07 am

Just to add my experience with Sabadell. I transfer £700 a month by DD via TSB. I am charged €5 a month as I do not have any insurance with Sabadell, we have Residencia and the Expansion bank account and I was not charged €18 for this months transaction, my neighbour transfers about £150 a month, does not have Residencia and he was also not charged.
They seem to make up their own rules to suit themselves. I use the bank in Quesada.
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