Bank Charges

Hi Forum I am a non resident, when I first came here approx 3 years ago I was not charged any bank charges now I am paying 40 euros per quarter 160 per annum. Would you say that is correct. I visited my bank Sabadell and they say it is ? Any ideas. Thanks John

BREXIT

You will get a number of differing replies to this and there are a number of previous discussions on this forum about this. I am also non resident and have ditched my Spanish bank account. I have had a few over the past twenty years and one thing they all have in common eventually is the charges go up. Some also have charged for the bi-annual police check.

For me personally I use Wise which morphed from a company called Transferwise who I used just for money transfers originally. I am able to pay all my direct debits through them. (there are other companies who do the same thing). One issue is you can only withdraw €200 every thirty days with no charge but you can use their debit card in any case. I also have a Santander 123 account in the UK and you can withdraw cash in the same way in Spain as long as you use the Santander ATM, so that resolves the cash issue should I need it. Good luck

There are loads of posts about this and if you do a search it will throw them all up, it will give you enough reading for a forthnight. It does sound about right for the quarter. You will also see people recommened using Wise for all your transfers and direct debits which is free.

Thanks great replies, not sure about Brexit though !!

As chridee says do a search & use Wise or similar,nothing to do.with Brexit,we was getting robbed by Sabadell long before the B word.

Yep, as said, dozens of threads on the same issue. I’m non res same as you, have a fee free Spanish bank account, and use wise. Between the two, I have all the usual functions of a bank, debit cards, withdrawals completely free, in fact used just like I would in the U.K. so it’s out there, not brexit related. No need to pay for anything bank related if you work it correctly. Hope you find a system to suit your own needs. Good luck.

Make an appoint with an English speaking advisor at Sabadell, and ask to be transferred onto the Quanta expancion account. You can eliminate all charges on this account by the transfer in of €700 monthly and taking your Casa insurance through them, which is competitive. I use Wise to transfer money in from the UK. Good exchange rates and low transfer charges.

El Stevo wrote:Make an appoint with an English speaking advisor at Sabadell, and ask to be transferred onto the Quanta expancion account. You can eliminate all charges on this account by the transfer in of €700 monthly and taking your Casa insurance through them, which is competitive. I use Wise to transfer money in from the UK. Good exchange rates and low transfer charges.

I can see the benefits for a resident,but can’t see why a non resident would want to transfer €8400 a year into a Spanish bank A/C. I would also be wary of Sabadell house insurance after reading a earlier post about trying to claim for a water leak.I can’t see why a non resident needs a Spanish account,when they can use Wise for all their needs for free.we had a Sabadell insurance & saved almost €100 by using Rightmove ins. in Quesada.

El Stevo wrote:Make an appoint with an English speaking advisor at Sabadell, and ask to be transferred onto the Quanta expancion account. You can eliminate all charges on this account by the transfer in of €700 monthly and taking your Casa insurance through them, which is competitive. I use Wise to transfer money in from the UK. Good exchange rates and low transfer charges.

I'm looking at Sabadell for house insurance at the moment and was under the impression if you take the insurance it eliminates the charges. I'm also aware of the acc where you transfer in €700 per month and thus eliminate charges. My question is do you have to do both or does either the insurance or acc change cancel out the charges?