By Matthew Roscoe • 04 October 2022 • 12:27
“After promising not to charge for using their bank if your pension insurance and savings are paid into your account, this is what Sabadell have decided to do to their loyal customers,” one of the Spanish bank’s British ex-pats told Euro Weekly News.
Upon sharing a copy of a letter he received from the bank, Geoffrey S said: “Along with rising food prices and petrol costs, Sabadell has decided to impart more costs on their customers.”
He added: “Unbelievable. I have tried to discuss this with the bank but have been passed from pillar to post or ignored.”
The letter shows that in order for the commission to be 0 euros, customers need to meet one of the following requirements:
However, it appears that if customers do not meet these needs then prices do in fact go up.
Sabadell users will then be charged €10 per quarter if they meet one of the following requirements:
Customers will be charged €20 per quarter if they meet one of the following requirements:
Customers will be charged a fee of €60 if they do not meet any of the above requirements.
Other EWN readers have commented on the alleged price rises at Sabadell.
One person on Facebook said: “60€ a quarter they now charge unless you take a credit card or insurance with them, it used to be 15€ horrendous increase.”
While another wrote: “One of the worst things I have found living in Spain is the terrible banks that charge for poor service. Sabadell appears to be the most complained about and as a current customer, I agree.
“They are awful and change their charging structure on a regular basis to catch people out. As soon as I can close my Sabadell account I will be doing so.”
The news comes after Sabadell Bank announced that after conducting research into banking trends, it would not charge commissions or fees for its online banking accounts.
Back in April, the bank, who until as little as three years ago offered free banking, lost many of its clients when it introduced a monthly charge that many deemed excessive.
However, having launched its own fee-free online account – known as the Digital Expansión Account – it was revealed that this was only being offered to new customers.
The fee and commission-free account was said to have no binding conditions, no administration or maintenance fees and no fees for issuing a card, according to their website.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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