# banco sabadell



## tonyinspain (Jul 18, 2011)

We opened a bank account for our at the time 9yr old hes 11 now with a junior saver account with this bank and placed 50euros in total forgetting about the account we came across it by accident and told him he has 50 euros when we went into the branch to draw his money to buy a mobile phone for him the machine wirred clank and turned out zero this was all to do with charges for non residents i spoke to my abogado showed him the account and he said its robbery 
So a word of warning ask what unforseen charges this bank has
I am taking this further as i think its disgusting how a bank can take a young persons money and try to legalise doing it


----------



## xabiaxica (Jun 23, 2009)

tonyinspain said:


> We opened a bank account for our at the time 9yr old hes 11 now with a junior saver account with this bank and placed 50euros in total forgetting about the account we came across it by accident and told him he has 50 euros when we went into the branch to draw his money to buy a mobile phone for him the machine wirred clank and turned out zero this was all to do with charges for non residents i spoke to my abogado showed him the account and he said its robbery
> So a word of warning ask what unforseen charges this bank has
> I am taking this further as i think its disgusting how a bank can take a young persons money and try to legalise doing it


I didn't think non-residents could open 'junior saver' accounts - I would definitely chase this up


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> We opened a bank account for our at the time 9yr old hes 11 now with a junior saver account with this bank and placed 50euros in total forgetting about the account we came across it by accident and told him he has 50 euros when we went into the branch to draw his money to buy a mobile phone for him the machine wirred clank and turned out zero this was all to do with charges for non residents i spoke to my abogado showed him the account and he said its robbery
> So a word of warning ask what unforseen charges this bank has
> I am taking this further as i think its disgusting how a bank can take a young persons money and try to legalise doing it


Its a little unfair to castigate a bank for your one experience
My account with BancoSabadell has no charges. In fact they pay me a percentage of the utiltiy bills that are paid from the account every month.

When you open any account with that bank you have a contract that sets out all the charges, so have a look at that and it should make it clear what they can and cant charge you. If you have opened a normal current account then I think there is a charge of €22 a quarter, but you get things back for that.


----------



## snikpoh (Nov 19, 2007)

Stravinsky said:


> Its a little unfair to castigate a bank for your one experience
> My account with BancoSabadell has no charges. In fact they pay me a percentage of the utiltiy bills that are paid from the account every month.
> 
> When you open any account with that bank you have a contract that sets out all the charges, so have a look at that and it should make it clear what they can and cant charge you. If you have opened a normal current account then I think there is a charge of €22 a quarter, but you get things back for that.


The Junior account with Sabadell gives 1% interest per annum and has no charges so the sum should have grown and not diminished!

When you had the book updated, what entries did it show?


----------



## tonyinspain (Jul 18, 2011)

Stravinsky yes all banks have terms and conditions and yes if you can read them fine but to take a childs bit of money after they set the account up is disgusting in any shape or form im glad they pay you for using them but when a account is in credit and its a childs account especially its bad form to steal his money


----------



## xicoalc (Apr 20, 2010)

One thing I will say about sabadell is CHARGES CHARGES CHARGES! They supplied me with a debit card which stopped working, when i called I was told they had loads of problems with that supplier and would replace it with a better one with more reliable chip. A week later new card - a month later a charge for it - despite them admitting the first one was a cheap poo one from a bad supplier!

They regularly apply charges for paymens going in to my business account but when I complain they refund them. They seem to in some cases charge things they shouldnt. My personal account once got charged with 50 euros for 1 month comission on debit card purchases - despite my contract saying if I pay in 800 a month there are no charges ever. They are particularly prone to charging for things they shouldnt. Whether this is bad computers not able to compute basic things, or just them trying their luck.

In fairness though whenever I moan they refund them, and apart from the occasional small one they still slip up and apply (for unusual things) it doesnt happen now… and when it does… a week later its refunded without me even asking - i think they got the message!

So, always chec exactly what you sign up for, if it says free check what the conditions of this are (minimum balance or monthly credits etc) and complain if they get it wrong.

Another pointer with sabadell.. they have this "pay in 800 a month and its free" account… well a few months ago I was working on a big job that had been paid in advance and i called them to say "there wont be anything going in for 2 months". They advised I would get charged comissions so cleverly I decided to cash in some pounds and pay them in. Duly they translated them into euros, and depositied them.. later I got charges… when I queried they said "oh that wasnt a deposit, it was a "purchase of currency from us to you"'… they have a way out of everything!

So now, if ever i change pounds at the bank I ask them to pay ME the euros in cash then say "thank you, i would now like to pay these euros into my account" - the girl always gives me funny looks but it covers my backside!


----------



## tonyinspain (Jul 18, 2011)

Snikpoh
Comissions/fees peticion certif no residetia -20.00 
Non residence authorised charge. - 6 .70
comission/fees peticion certif no residenci -29.00
Non residence authorisat charge. - 6.82
Fee excemtion. 13.40
O.00 balance 
He was left with zero in his account


----------



## xicoalc (Apr 20, 2010)

tonyinspain said:


> Snikpoh
> Comissions/fees peticion certif no residetia -20.00
> Non residence authorised charge. - 6 .70
> comission/fees peticion certif no residenci -29.00
> ...


The famous non residents fee. This is not the bank per say… the law in spain is that every bank has to report to hacienda about every bank account held by a non resident, i guess fr money laundering. When you are resident its easy, all electronic on your ID number but for non resident its a bit more complicated so banks make a fee to do this - for everyone - and every bank.

Didn't think they would set the account up without telling you though - but thats banks!


----------



## Stravinsky (Aug 12, 2007)

Well, I can only say I have had a Sabadel (SOL) account for 6 years. Never had a serious problem with them, never been charged anything other than I knew they were going to charge, and as I said ... now I pay no charges and I get paid a percentage of any utilities going through my account. Ive recommended the bank to quite a few people, and they have no problems either

If you open a bank account you read the terms. If you dont like the terms then you dont open the account. If you dont read the terms and then you get stung afterwards then its really not their fault. Simples


----------



## tonyinspain (Jul 18, 2011)

Thnxs steveinspain i see what your saying but we have been resident of spain 8yrs so it must be a cock up
Ill check it out 
Stravinski how do this bank make any money if it doesnt charge for its services?
Ive never known a bank let you free bank for anything simples they be outa business


----------



## xabiaxica (Jun 23, 2009)

tonyinspain said:


> Thnxs steveinspain i see what your saying but we have been resident of spain 8yrs so it must be a cock up
> Ill check it out
> Stravinski how do this bank make any money if it doesnt charge for its services?
> Ive never known a bank let you free bank for anything simples they be outa business


it really depends upon whether or not you have informed your bank that you are resident - it's not as simple as just living here - they have to see the paperwork that your are 'resident'


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> Thnxs steveinspain i see what your saying but we have been resident of spain 8yrs so it must be a cock up
> Ill check it out
> Stravinski how do this bank make any money if it doesnt charge for its services?
> Ive never known a bank let you free bank for anything simples they be outa business


You've never had free banking?
Try HSBC, Santander, Barclays, many of the big banks have no charge bank accounts. Only a small percentage of Banks profits come from public bank accounts

Sabadells only requirement that a regular monthly payment goes in.


----------



## snikpoh (Nov 19, 2007)

Stravinsky said:


> You've never had free banking?
> Try HSBC, Santander, Barclays, many of the big banks have no charge bank accounts. Only a small percentage of Banks profits come from public bank accounts
> 
> Sabadells only requirement that a regular monthly payment goes in.


.... and even that can be got around!:eyebrows: We are early retirees so don't have an income nor to we have a pension.

I explained that I would make non-regular (irregular) payments into the account from funds held in UK - they said OK.

I guess only time will tell but if they start charging, and won't refund, then I'll go elsewhere.


----------



## Stravinsky (Aug 12, 2007)

snikpoh said:


> .... and even that can be got around!:eyebrows: We are early retirees so don't have an income nor to we have a pension.
> 
> I explained that I would make non-regular (irregular) payments into the account from funds held in UK - they said OK.
> 
> I guess only time will tell but if they start charging, and won't refund, then I'll go elsewhere.


Thats why I think some people have just had a bad banking experience which you can have with any bank. I went through Banco De Valencia and BBVA before I arrived at SOL. When I was paying charges, well, they werent the cheapest of banks for sure ... but the moment I went in and mentioned this they changed my account no non fee.

Conversely in the UK I have Santander, HSBC & Cahoot accounts, neither of which charge unless I go overdrawn or need something out of the ordinary.

I used to have an account with SunPay which was brilliant because you could do online currency exchange movements yourself, but they closed it down due to money laundering risks :-(


----------



## xabiaxica (Jun 23, 2009)

Stravinsky said:


> Thats why I think some people have just had a bad banking experience which you can have with any bank. I went through Banco De Valencia and BBVA before I arrived at SOL. When I was paying charges, well, they werent the cheapest of banks for sure ... but the moment I went in and mentioned this they changed my account no non fee.
> 
> Conversely in the UK I have Santander, HSBC & Cahoot accounts, neither of which charge unless I go overdrawn or need something out of the ordinary.
> 
> I used to have an account with SunPay which was brilliant because you could do online currency exchange movements yourself, but they closed it down due to money laundering risks :-(


you're right of course - & the charges made on the OP's child's account look pretty standard for a non-resident account, to be fair

my point about chasing it up, is that I didn't think *non-resident* kids could have a savings account here in the first place 

I shall ask in my bank


----------



## tonyinspain (Jul 18, 2011)

Well thats the answer we used it to pay bills so they charge us we are not retired and my wife works in the uk and as im autonamo and need access to our money they are charging us for it the point that i was making they gave us the account for the young one to start saving and to be honest we forgot about it then when we came across it qe took it in now my argument is 2yrs of intrest should have been put on the account yes
No they charged him every cent as non reaident leaving his 50euros to 0.00
Thats not good enough its not the money i gave him that its the underhand way they as far as im concerned stole the money


----------



## xabiaxica (Jun 23, 2009)

tonyinspain said:


> Well thats the answer we used it to pay bills so they charge us we are not retired and my wife works in the uk and as im autonamo and need access to our money they are charging us for it the point that i was making they gave us the account for the young one to start saving and to be honest we forgot about it then when we came across it qe took it in now my argument is 2yrs of intrest should have been put on the account yes
> No they charged him every cent as non reaident leaving his 50euros to 0.00
> Thats not good enough its not the money i gave him that its the underhand way they as far as im concerned stole the money


so YOU didn't formally inform the bank that he is resident - & it's YOUR responsibilty to do that, not the bank's to chase the info.

so it's THEIR fault :confused2:


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> Well thats the answer we used it to pay bills so they charge us we are not retired and my wife works in the uk and as im autonamo and need access to our money they are charging us for it the point that i was making they gave us the account for the young one to start saving and to be honest we forgot about it then when we came across it qe took it in now my argument is 2yrs of intrest should have been put on the account yes
> No they charged him every cent as non reaident leaving his 50euros to 0.00
> Thats not good enough its not the money i gave him that its the underhand way they as far as im concerned stole the money


I'm not of retirement age either. But I am a resident, and so are you by the sounds of it. However, as we all said, when you open an account you get a written contract which shows the charges. With Sabadell (SOL) its in English.

Two years of interest woulod have been about 50 cents 
If you took out a normal account then you would have had charges about €22 per quarter or something like that. I think it boils down to the question, did you take out the right account for what you needed?

I understand your annoyance, but I really dont agree that they stole your money. It's all a question of fully understanding what you are agreeing to


----------



## tonyinspain (Jul 18, 2011)

Yes they know we are resident they have all our details your confusion is your not getting the point 
They have taken his money from his account and made a false reason to take it i always fought that when you save money intrest is added to the amount you save not lets put charges on a account cause he hasnt used it so when he comes to get his money he wont have any left yes thats good banking lets take money off children
Hope this has not confused you simples


----------



## xabiaxica (Jun 23, 2009)

tonyinspain said:


> Yes they know we are resident they have all our details your confusion is your not getting the point
> They have taken his money from his account and made a false reason to take it i always fought that when you save money intrest is added to the amount you save not lets put charges on a account cause he hasnt used it so when he comes to get his money he wont have any left yes thats good banking lets take money off children
> Hope this has not confused you simples


I don't think I am confused

was the child's account a resident or non-resident account?


if it was a non-resident account then as much as we might not like the charges they are pretty standard for non-resident accounts


if it was a resident account then I agree, they have made charges they shouldn't have


it doesn't matter whether or not you or the child are resident - if you signed for the account & it was a non-resident account, the onus was on you to read the paperwork before signing it


----------



## Solwriter (Jan 10, 2012)

Well I'm confused anyway.

If it is not possible to set up a non resident savings account for a child, then surely this must be a resident's account.
And if it is a resident's account, then non resident charges should not have been made and Tony does need to take this further.

But I agree, you should always read the terms of the account before you sign the forms, confusing as those terms often are.


----------



## xabiaxica (Jun 23, 2009)

Solwriter said:


> Well I'm confused anyway.
> 
> If it is not possible to set up a non resident savings account for a child, then surely this must be a resident's account.
> And if it is a resident's account, then non resident charges should not have been made and Tony does need to take this further.
> ...


I didn't think it was possible to open an account for a non-resident child - but according to my bank you can indeed do so - so it's possible that this account was set up as non-resident - Tony needs to check what he signed.......


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> Yes they know we are resident they have all our details your confusion is your not getting the point
> They have taken his money from his account and made a false reason to take it i always fought that when you save money intrest is added to the amount you save not lets put charges on a account cause he hasnt used it so when he comes to get his money he wont have any left yes thats good banking lets take money off children
> Hope this has not confused you simples


I'm only going to say this once more 

When you opened your account you will have had a written contract in English
In the written contract are all the charges that you are signing up to
If you have been charged more than is in the written contract then it is a breach, and in my experience when you go into a branch and put your case calmly with the contract proving it, then they will do something.
Not every bank account gives interest, especially in this day and age.

You *cant* blame the bank if you didnt read the contract
You *can* blame the bank if you read the contract and they charged you differently

Simples


----------



## snikpoh (Nov 19, 2007)

Stravinsky said:


> I'm only going to say this once more
> 
> When you opened your account you will have had a written contract in English
> In the written contract are all the charges that you are signing up to
> ...



We opened ours at Sabadell a few weeks ago now and ALL paperwork was in Spanish!


----------



## xabiaxica (Jun 23, 2009)

snikpoh said:


> We opened ours at Sabadell a few weeks ago now and ALL paperwork was in Spanish!


mine was with my new bank - maybe you can get one in English if you ask though :confused2:


----------



## Stravinsky (Aug 12, 2007)

snikpoh said:


> We opened ours at Sabadell a few weeks ago now and ALL paperwork was in Spanish!


But if you ask for English, it's in English
I dont know about you but with something like that I would prefer it in english for iirc its about 3 pages long 

One of the plus sides when we moved here first was that SOL (Sabadell) always had English speaking staff in the branches. All their sales stuff is in English and German as well, and their contracts etc were English

Conversely my Mapfre insurance cert is in Spanish of course, and I had to spend a long time making sure I understood all the "technical" clauses


----------



## tonyinspain (Jul 18, 2011)

When we got this account its a junior account they gave to both my sons when we first banked with them and yes some corespondance was in english but very little 
It still does not make sence english or spanish 
resident non resident
That they can take every penny from a young child on made up charges this does not put a young childs mind to save its a disgusting situation why would he want to save when they can take what they want out of it
And further to their terms and conditions yes they may have written this in the small print but we could just about speak spanglish let alone read 10 pages of terms and conditions in spanish also if their paperwork is in english any corespondance they have sent has been in spanish not english so we couldnt read them even if we had the time 
Im sorry if this has upset a few people but the fact is other people will think we willl save a bit for the children and come accross this underhand way of taking money of their children its totally unforgivable a small child saves and is penalised for saving 
We didnt expect a lot of intrest but i did expect to find his money still there
Thanks eeveryone thats responded as usual its nice to know we have this forum foe help and advice tony


----------



## xabiaxica (Jun 23, 2009)

tonyinspain said:


> When we got this account its a junior account they gave to both my sons when we first banked with them and yes some corespondance was in english but very little
> It still does not make sence english or spanish
> resident non resident
> That they can take every penny from a young child on made up charges this does not put a young childs mind to save its a disgusting situation why would he want to save when they can take what they want out of it
> ...


we _are _trying to help - but non-resident accounts always attract these charges - there's nothing you can do about it & it's all in the paperwork & is well-documented

you need to check for sure if it's a resident or non-resident account - if it's a resident account then they shouldn't have charged you


it really is that straightforward


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> When we got this account its a junior account they gave to both my sons when we first banked with them and yes some corespondance was in english but very little
> It still does not make sence english or spanish
> resident non resident
> That they can take every penny from a young child on made up charges this does not put a young childs mind to save its a disgusting situation why would he want to save when they can take what they want out of it
> ...


Tony ... honestly, I'm not upset 
I'm just sayiny like anything these days ... Banks, investments etc etc you have to know what you are getting in to. Sorry he lost the money but maybe next time as them, or whoever, to specify the figures in the contract


----------



## tonyinspain (Jul 18, 2011)

Stravinsky said:


> Tony ... honestly, I'm not upset
> I'm just sayiny like anything these days ... Banks, investments etc etc you have to know what you are getting in to. Sorry he lost the money but maybe next time as them, or whoever, to specify the figures in the contract


Stravinsky your right of course and we should have read them but we couldnt read spanish we had been here only a few weeks and what with buying the house and more important issues at the time did not think anything of it 
Truth is you live and learn its a very long learning curve living here
Regards tony


----------



## Stravinsky (Aug 12, 2007)

tonyinspain said:


> Truth is you live and learn its a very long learning curve living here
> Regards tony


On that you are so right.
We have a neighbour who is here for a few months and I was talking to him the other day ... he said he didnt want to go back home.

I tried to explain to him that being here for a while knowing you are going home and being here for good (living here) are two totally different things and present very different challenges.

Spain can screw you over, just as many countries can. The difference is here that you are a foreigner and you will _always_ be a foreigner (no matter what some people will tell you). Because you are a foreigner you are a rich man in many Spaniards eyes and will be treated as such.

My answer? Listen to recommendations and experiences. Build up your own contacts and stick with them!


----------

