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Rip off Spanish Bank Charges

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Posted: Wed Jan 30, 2019 8:11am
13 replies355 views9 members subscribed
Dzak66

Posts: 10

Location: Los Alcázares

3 helpful posts

I cannot believe the amount charged for a local bank to bank transfer. I am non-resident and bank at Sabadell. I did an online local transfer to my lawyers of around 25,000 Euros and the Fees were 102.50 Euros ! In every other country I have worked including many 3rd world countries its free for local transfers. I was also charged over 300 Euros for an overseas transfer in Euros in to my Sabadell account. What a complete rip off - a great way to start my new life in spain...getting fleeced by the bank !

Jan

Jan

Admin

Helpful member

Wed Jan 30, 2019 9:29am

Posts: 122

Location: Cehegín

59 helpful posts

Posted: Wed Jan 30, 2019 9:29am

We only pay £11.50 for any transfers from our Halifax in UK to our Sabadell in Spain. 

dmoss

dmoss

Helpful member

Wed Jan 30, 2019 10:16am

Posts: 241

Location: Los Alcázares

103 helpful posts

Posted: Wed Jan 30, 2019 10:16am

If you get a Halifax clarity card you get no charges for drawing from uk and also you also get the full exchange rate 

Never ever use Spanish bank exchange today they give you 103 whereas clarity card is 111

paulsav

Wed Jan 30, 2019 1:47pm

Posts: 48

Location: Yecla

37 helpful posts

Posted: Wed Jan 30, 2019 1:47pm

Dmoss, are you saying you dont get charged for drawing euros out of your clarity card? I have one too but use it for foreign purchases only(like car hire, fuel etc) but never for cash as I would expect a cash transaction fee to be charged on a daily basis, although they dont charge the foreign transaction fee like other cards. Have you ever preloaded your card into credit to draw money out in Spain?

dmoss

dmoss

Helpful member

Wed Jan 30, 2019 2:03pm

Posts: 241

Location: Los Alcázares

103 helpful posts

Posted: Wed Jan 30, 2019 2:03pm

There is no charge unless you are in debt we use it to draw cash you must refuse the banks exchange so charge in euros when you check you will find you get the full exchange rate at the time today 112 but we pay it off same day so no charges 

Jaz

Jaz

Wed Jan 30, 2019 4:40pm

Posts: 21

Location: Isla Plana

19 helpful posts

Posted: Wed Jan 30, 2019 4:40pm

Hi there, we use a company called Transferwise for our transactions. It is online based, gives you mid market rates with very low charges. Around £3 to transfer £500 into euros from our UK bank ( via a debit card) to our Spanish bank account. 

I have also used it to pay solicitors/ bills etc direct as long as you have their banking details-like their Iban etc you set up the payment online. 

It’s so easy, secure and swift- usually the same day if you do it early enough.

It’s worth  a look!

Jaz

dmoss

dmoss

Helpful member

Wed Jan 30, 2019 5:03pm

Posts: 241

Location: Los Alcázares

103 helpful posts

Posted: Wed Jan 30, 2019 5:03pm

One small problem you are not allowed a clarity card if you live abroad but we have an address in uk which we use but believe me it is the best way go on line and take a look at the benefits of the clarity card 

Chiny

Wed Jan 30, 2019 8:15pm

Posts: 6

Location: Los Alcázares

3 helpful posts

Posted: Wed Jan 30, 2019 8:15pm

The OP appeared to talk of “local” transfers, mentioning a €uro payment from Sabadell.   Replies appear to be talking of €uro purchases from £, clearly not the same thing.

Since I’ve been with Sabadell some years, I’ve never paid any fees for a single transaction, in or out, although I do pay assorted annual fees to run 2 accounts.  

Probably we need clarification from the OP to assist.

Maxwell2

Thu Jan 31, 2019 8:05am

Posts: 8

Location: Mosa Trajectum

Posted: Thu Jan 31, 2019 8:05am

I agree Chiny, I have paid several bills from my Sabadell by way of a national transfer, and have not been charged. I load my spanish account using transferwise and do not pay any fee for this being accepted into Sabadell. 

Baggywrinkles

Thu Jan 31, 2019 8:41am

Posts: 37

3 helpful posts

Posted: Thu Jan 31, 2019 8:41am

Which bank was that I transfered 180,000€ from France to Bankia and no charges were made.

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