robl wrote:Hi all
Has anyone had any issues with money transfers to Banco Sabadell? I’ve just purchased a property and found it an absolute ordeal getting money from a currency exchange company into my account. I understand money laundering issues and checks they have to go through but they’ve been close to impossible to deal with. I did manage to get the transfer made but after roughly 2weeks them requesting different pieces of information one after the other and in no particular order that made sense - sometimes the same thing several times. When they finally processed the transfer they said that this would be a one off and I’m not allowed to use an intermediary (money exchange co) as the money must come from my UK bank only or won’t be accepted.
Are they for real? I have to use my UK bank account only and get stuck with the terrible rate of conversion they offer? I won’t be transferring any house buying size sums in the near future but need to keep my Spanish account topped up to deal with day to day bills and living when I visit 3 or so times a year and have a good account rate with the transfer company that I’d like to continue using.
If anyone can advise if this is just Sabadell or if there’s a procedure I’ve missed or they’re just talking nonsense I’d be grateful!
We've had no problem transferring money from the UK using TransferWise, but from talking to friends, it does seem that the service you receive from Sabadell varies tremendously, depending on the branch where you open your account.
I would send them a letter or email, so that you have an audit trail, asking them to confirm to you
in writing where in the bank's regulations it states that you are not allowed to use a currency exchange company to move money between your UK and Spanish accounts, as you believe this contravenes European legislation. It would be interesting to hear their response - and if they ignore you, visit your branch next time you're hear and ask them for a "complaint form". All shops and offices in Spain have to provide these on request by law and just asking is usually met with a complete change of attitude
Good luck!
Posted: Tue Apr 24, 2018 8:51 pm