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UK to Spain cash transfer
Re: UK to Spain cash transfer
by Noel on Keys » Thu Apr 04, 2019 10:54 pm
I’ve been using Transferwise to move money from my UK LLoyds bank account a since 2015...no problem, however suddenly in February I got a snotty email from Sabadell saying I failed to tell them I have a German bank account which I’m transferring money to Spain from ? Which I haven’t !....when I looked into it, it was the money coming from Transferwise... came from a German account ! They said they would not allow it until I proved It came from the UK...which I did...then the money went in ok....however this month Transferwise has said they tried to put the money into my Sabadell account but they bank reject it....to say I’m pi**ed off with Sabadell is an understatement....they have recently taken their fees out of my account but I can’t put anything in my own account now...ludicrous situation !!
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Noel on Keys - Posts: 169
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Re: UK to Spain cash transfer
by alicia32 » Fri Apr 05, 2019 9:13 am
TransferWise all the way. Great service. Best rates.
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Re: UK to Spain cash transfer
by jpeg » Fri Apr 05, 2019 9:14 am
daz wrote:I know I’m probably pointing out the obvious, sadly you have been charged approx £23 in a round about way, based on a simple example for £1000. at your rate you get 1133euros, at transferwise rate you get 1160eu after a £3 deduction. I hope your internet gets back on track for you.
Was only a test transfer of 100 Pounds so not that bad, the problem is not the internet, it is no mobile phone signal
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Re: UK to Spain cash transfer
by Algorfaista » Fri Apr 05, 2019 9:46 am
Barclays robbed you blind use Transferwise, they are the BEST
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Re: UK to Spain cash transfer
by Paulr » Fri Apr 05, 2019 11:14 am
Noel on Keys wrote:I’ve been using Transferwise to move money from my UK LLoyds bank account a since 2015...no problem, however suddenly in February I got a snotty email from Sabadell saying I failed to tell them I have a German bank account which I’m transferring money to Spain from ? Which I haven’t !....when I looked into it, it was the money coming from Transferwise... came from a German account ! They said they would not allow it until I proved It came from the UK...which I did...then the money went in ok....however this month Transferwise has said they tried to put the money into my Sabadell account but they bank reject it....to say I’m pi**ed off with Sabadell is an understatement....they have recently taken their fees out of my account but I can’t put anything in my own account now...ludicrous situation !!
Hi Noel,
If you're paying fees to Sabadell, I assume you're Non-resident?
Sounds like you've been caught between FATCA (anti-tax evasion) regulations and Brexit. When the EU introduced the FATCA regs in 2015, all member states made their banking industry responsible for collecting the required tax reference data from both residents and non-residents: for Brits in Spain, this meant both our Spanish and UK banks collected our tax reference numbers for both countries and then reported it to the relevant tax authorities, again, in both countries. (Remember the reports on this forum of people who'd had their Spanish bank accounts "frozen"? In many cases, this was because customers had missed the September 2017 deadline to meet the requirement for supplying the info to their Spanish bank -
Then the UK voted to leave the EU and about a year after the vote, the penny dropped in the UK's financial services industry that they wouldn't be able to trade in the EU after Brexit. We also use Transferwise and so my wife wrote to them last year asking whether we would be able to continue using their services post-Brexit. They responded that they already had arrangements in hand for this to be possible, although didn't say how - presumably, by routing their business through Germany!
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Re: UK to Spain cash transfer
by PGA » Fri Apr 05, 2019 11:23 am
I’d have thought for the price difference in transfer rates it’s worth going for a short walk somewhere with mobile signal?!
As an aside, I’m about to try installing a 4G mobile signal booster at my place in Quesada as I get little to no signal anywhere other than the roof terrace at present.
As an aside, I’m about to try installing a 4G mobile signal booster at my place in Quesada as I get little to no signal anywhere other than the roof terrace at present.
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Re: UK to Spain cash transfer
by Jordy » Fri Apr 05, 2019 1:16 pm
Did TransferWise used to have an office in Benijofar? Did they move elsewhere or is it all online business now?
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Re: UK to Spain cash transfer
by jpeg » Fri Apr 05, 2019 2:17 pm
PGA wrote:I’d have thought for the price difference in transfer rates it’s worth going for a short walk somewhere with mobile signal?!
As an aside, I’m about to try installing a 4G mobile signal booster at my place in Quesada as I get little to no signal anywhere other than the roof terrace at present.
Yes I could get a signal if I walked 500 metres from the farm I live on but by the time I got back to my PC the code is obsolete
I would be interested to see what kind of 4 g booster you use and if it works because I am assured by my mobile company they do not work ( Aeromax ) I do not get a signal from Vodafone or Orange and Moviestar
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Re: UK to Spain cash transfer
by Benjy » Fri Apr 05, 2019 2:33 pm
I don’t understand why you are getting a code. I never do. I got a code with my first transfer years ago and the same one has been used ever since.
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Re: UK to Spain cash transfer
by jpeg » Fri Apr 05, 2019 2:46 pm
Because when I login with user name or email and password it tells me that a code has been sent to mobile number and to enter it I have spoken with Transferwise and they say that is the only way to log in I have been with Transferwise since day 1 so they should have all my details
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