Banco Sabadell and new 3 euros monthly charge ruling

[BRZY56]

Hi all.

I have a Key Plus account set up by my solicitor with Banco Sabadell. I was aware that the bank charges for this account are 140 euros per year. I rang my branch and asked for a refund of 1st quarterly charge of 35 euros quoting the new ruling in Spain.
The man at the bank then got quite heated stating that he had not heard anything about this and I must pay the fees associated with the account.
When I mentioned about transferring to their new (almost identical) Basic Payment account with fees of 3 Euros per month it became obvious I was going to get nowhere and the conversation was ended quickly.
My question is, has anyone managed to swap to the basic low fee account with Sabadell and how did they go about it?
Thanks in advance.
BRZY

[costakid]

A friend is with sabadell and is still paying 35 euros a month. No joy on visit to the branch.

[Enrique]

Hi BRZY56,
If you have any of the Caja Rural Group Banks in your area , have a look at their accounts and charges.
We were with Sabadell and found them unsuitable for Non-Resident.........to sum up the experience it took nine (9) months to close the account.

[Paddy Pumpkin]

Hi all.

I have a Key Plus account set up by my solicitor with Banco Sabadell. I was aware that the bank charges for this account are 140 euros per year. I rang my branch and asked for a refund of 1st quarterly charge of 35 euros quoting the new ruling in Spain.
The man at the bank then got quite heated stating that he had not heard anything about this and I must pay the fees associated with the account.
When I mentioned about transferring to their new (almost identical) Basic Payment account with fees of 3 Euros per month it became obvious I was going to get nowhere and the conversation was ended quickly.
My question is, has anyone managed to swap to the basic low fee account with Sabadell and how did they go about it?
Thanks in advance.
BRZY

Open bank (internet only subsidiary of Santander Spain) does a completely free current account. Webpage in English. I have been using it since June...no issues at all and not paid a penny. Worth a look

[CovetaBob]

I have also requested "The Basic Payment Account" as advertised by Banco Sabadell, 36 euros per month for 120 transaction per year. All banks in the EU must offer this account by EU and Spanish Law. If you go on the Santander website they also offer this account, go online and have a look (you have to look quite hard). Even in the UK they have to offer this account, but most people in the UK get free banking or very good upgrades so it is not a problem. To those people that are resident in Spain, the law has now changed, so residence of Spain can now legally open an account in the UK without an address there, "The Basic Payment Account". If you log onto Editors letters The Costa Blanca News a chap has written a very good article on how to get this account in the UK, he has done all the spade work. Would you believe it seems this account is difficult to get there, he found the bank with the least resistance to provide this account was TSB, and who owns TSB, none other than Banco Sabadell.

I am working very hard to secure this account for all of us, will let everyone know the outcome when it is finalised.

Coveta Bob

[BRZY56]

Thanks for the replies, and good luck CovetaBob. Look forward to hearing how you get on. I am not full time resident yet so was just looking to change my Sabadell account to their basic one so I am going to visit my nearest branch to ask.
One other point to consider is that I believe that you can only open a Basic account if you are a European citizen and it is the only account you have in Spain. No one knows if we will still tick the first box in the future.
Brzy

[Paddy Pumpkin]

Tiny correction...EU resident as opposed to citizen

You are allowed to hold multiple accounts in any given country, but you are only allowed to have one basic payments (current) account. So theoretically you could have 10 savings accounts in Spain but to enforce your right to the basic account it must be the sole payment account you have in Spain. You ha e the right to have a basic payment account in each EU country....so you can have multiple but just one in each country.

The bank is also allowed to limit how much money moves through the account before they can force you to have another more expensive account. In some countries the banks limit the amount you can receive into the account in any given year to the same as a full time employee earning the national minimum wage. No idea about if Spain operates limits like this.

Good luck with your efforts as many are saying the banks are being as awkward and resistant as possible