# Banco Santander 123 Account charges.



## Barriej (Jul 23, 2012)

Just thought I would share this.

Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)

Unless I pay in a regular amount or have insurance with them. 

I manage to get round it at the moment by paying in €1000 a month and having my DD going out, but when we move over we will live on our savings for at least 5 years before I start drawing my personal pension.

I think I may be looking for a new bank when we go back next year to sort out the permanent move.


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## Megsmum (Sep 9, 2012)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


This has been the case with 123 account for a while! We, like you, live off savings, I have a low earner account as I am an autónomo , I pay €3 a month, I have my meagre wages paid in, I have my social security payments and Movistar going out.


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## Williams2 (Sep 15, 2013)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


And the Bank Sabadell Expansion Account, was free banking ( so long as they see at least 700 Euro's
a month credited to the account ) and did give 4 per cent cash back ( less tax ) on Utility bills
paid by Direct Debit, that was whittled down to 1 per cent and then withdrawn altogether
earlier this year.

From the 24th December 2019, the Bank Sabadell Expansion Account will be charging 5 Euro's 
a month; debited from the Expansion Account, every quarter or have home insurance, off them 
to maintain free banking with them ( so long as they still see the 700 Euro's a month credits )
in which case your Bank Sabadell Expansion Account is elevated to a Premier Expansion Account,
with a complimentary Gold Credit card thrown in.

So if Bank Sabadell and now Bank Santander are raising or introducing admin charges, maybe
other banks are going to be doing the same next year ?

Here's the thread to the Bank Sabadell introducing monthly charges:

https://www.expatforum.com/expats/s...sion-account-introduction-monthly-charge.html


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## trotter58 (Feb 8, 2017)

Williams2 said:


> And the Bank Sabadell Expansion Account, was free banking ( so long as they see at least 700 Euro's
> a month credited to the account ) and did give 4 per cent cash back ( less tax ) on Utility bills
> paid by Direct Debit, that was whittled down to 1 per cent and then withdrawn altogether
> earlier this year.
> ...



Why not open a Sabadell basic account. Only €9 per quarter and no hoops to jump through. https://www.bancsabadell.com/cs/Satellite/SabAtl/Basic-payment-account/6000034843962/en/ 

Or, if you're non resident, then a N26 account. Totally free and includes 5 fee free ATM withdrawals a month. https://n26.com/en-es 

We cancelled our Sabadell key account a couple of months ago after they raised the charges to €140 per year.  We're now with N26 and really happy with the account. We changed all the direct debits to N26 before cancelling the Sabadell account.


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## Barriej (Jul 23, 2012)

trotter58 said:


> Why not open a Sabadell basic account. Only €9 per quarter and no hoops to jump through. https://www.bancsabadell.com/cs/Satellite/SabAtl/Basic-payment-account/6000034843962/en/
> 
> Or, if you're non resident, then a N26 account. Totally free and includes 5 fee free ATM withdrawals a month. https://n26.com/en-es
> 
> We cancelled our Sabadell key account a couple of months ago after they raised the charges to €140 per year.  We're now with N26 and really happy with the account. We changed all the direct debits to N26 before cancelling the Sabadell account.


Can you use the N26 account to prove income and the amount you have when applying for residency?
I thought it had to be a Spanish bank and a certified copy not a printout of your statement, although I would be happy to be proved wrong.


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## Williams2 (Sep 15, 2013)

trotter58 said:


> Why not open a Sabadell basic account. Only €9 per quarter and no hoops to jump through.


Makes no sense accepting any 9 Euro a quarter bank charge - for those who regularly have money coming in each month.


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## trotter58 (Feb 8, 2017)

Williams2 said:


> Makes no sense accepting any 9 Euro a quarter bank charge - for those who regularly have money coming in each month.


It does if Sabadell start charging €5 per month (€15 quarter) for their expansion account.
The basic account allows you to move money when you want, ie when the exchange rate is in your favour.


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## trotter58 (Feb 8, 2017)

Barriej said:


> Can you use the N26 account to prove income and the amount you have when applying for residency?
> I thought it had to be a Spanish bank and a certified copy not a printout of your statement, although I would be happy to be proved wrong.


TBH I'm not sure. The N26 account has a Spanish IBAN number like all other banks in Spain. However, it doesn't have any branches, it just uses other ATMs.

Do you really need a certified (notarised?) bank statement for residency?


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## Megsmum (Sep 9, 2012)

trotter58 said:


> TBH I'm not sure. The N26 account has a Spanish IBAN number like all other banks in Spain. However, it doesn't have any branches, it just uses other ATMs.
> 
> Do you really need a certified (notarised?) bank statement for residency?


Yes. We just applied for our permanent residency and all moneys on U.K. bank statements had to be translated by an official certified translator. As did my NHS pensión statement.


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## snikpoh (Nov 19, 2007)

Just to clarify - the sabadell expansion account is also FREE for those who have their state pension paid in each month!

If people are bothered about charges, why not open an online account with someone like Santander (OpenBank) or BBVA - these accounts are COMPLETELY FREE


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## trotter58 (Feb 8, 2017)

snikpoh said:


> Just to clarify - the sabadell expansion account is also FREE for those who have their state pension paid in each month!
> ........


Thanks, that's good to know. However, the O/P hasn't yet reached state pension age.

So, for people under state pension age, the Sabadell expansion account requires a regular deposit of €700 per month and the Sabadelle expansion premium requires €3500 per month or €75,000 investment.

https://www.bancsabadell.com/cs/Satellite/SabAtl/Cuenta-Expansion/1191346505022/en/

https://www.bancsabadell.com/cs/Satellite/SabAtl/Cuenta-Expansion-con-ventajas-Premium/6000006714279/en/


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## Williams2 (Sep 15, 2013)

trotter58 said:


> It does if Sabadell start charging €5 per month (€15 quarter) for their expansion account.
> The basic account allows you to move money when you want, ie when the exchange rate is in your favour.


It really depends on where the British Expat/Immigrant derives his or her income;
speaking personally as I'm working in Spain, with my primary income in Euros,
exchange rate considerations don't come into the equation where I'm concerned.

If I do need to exchange money from Euro's to pounds or back again I use Currency
Fair which knocks the socks off exchanging through any bank.

Finally I side stepped the 5 Euro a month tariff by taking BS Home Insurance, as it
was up for renewal in November anyway and was only a couple of Euro's dearer
than if I stayed with the present one.


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## Terdave (Dec 19, 2014)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


I have a 123 Santander account and was paying 8 euro's a month plus 3 euro's to use a bank card total 11 euro's a month, we managed to get around this by investing 20,000 euro's in Santander shares, we understand that this is to be increased to 60,000 euro's.

I will see my bank manager to find out if this is the case


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## Alcalaina (Aug 6, 2010)

Here's a comparison site that shows all the various conditions for "free" banking.
https://cuentas-bancarias.rastreator.com/resultados-comparativa

Obliging you to buy insurance or other products to get it is I believe not strictly legal, though they all seem to be doing it now.


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## DonMarco (Nov 20, 2016)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


I was in the same boat as you until recently. I had a Santander 123 Account with conditions attached. On a three month basis - 6 card parents (one of which had to be the Credit card, there differnet direct debits and a monthly deposit of at least €600. In return I received 1% interest on €1000 plus Interest on certain utility payments. Chargers were €6 per month which included the cards. Non-compliance would result in in a €8 monthly charge plus €3 for the cards. I was advised the above terms would now apply on a one month basis and as I have no chance of meeting theses terms I contacted my friendly local contact at my Santander Branche who put me on the Zero account.

No monthly charges, free Credit and Debit card, no interest received and the €600 monthly deposit remains. To me that means free banking and no card charges.


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## Barriej (Jul 23, 2012)

DonMarco said:


> I was in the same boat as you until recently. I had a Santander 123 Account with conditions attached. On a three month basis - 6 card parents (one of which had to be the Credit card, there differnet direct debits and a monthly deposit of at least €600. In return I received 1% interest on €1000 plus Interest on certain utility payments. Chargers were €6 per month which included the cards. Non-compliance would result in in a €8 monthly charge plus €3 for the cards. I was advised the above terms would now apply on a one month basis and as I have no chance of meeting theses terms I contacted my friendly local contact at my Santander Branche who put me on the Zero account.
> 
> No monthly charges, free Credit and Debit card, no interest received and the €600 monthly deposit remains. To me that means free banking and no card charges.


Interesting but mine is a non residents account. I have the totally free 123 version (no interest, no cash back, no charges as long as €600 and 3 DD go out a month) and its €8 a month if I miss this, no charge for the Debit card (don't want or need a credit card) 
But we only spend a week or so every 2 months at the flat at the moment so I pay the €8
Once fully resident I will change the account.

So another thing to put on my list.


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## DonMarco (Nov 20, 2016)

Barriej said:


> Interesting but mine is a non residents account. I have the totally free 123 version (no interest, no cash back, no charges as long as €600 and 3 DD go out a month) and its €8 a month if I miss this, no charge for the Debit card (don't want or need a credit card)
> But we only spend a week or so every 2 months at the flat at the moment so I pay the €8
> Once fully resident I will change the account.
> 
> So another thing to put on my list.


I am non-resident too and have a monthly depsit paid in so no DD required.


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## Barriej (Jul 23, 2012)

DonMarco said:


> I am non-resident too and have a monthly depsit paid in so no DD required.


Weird. The more I learn about the way the Spanish banks do things, the more Im reminded of the way the Banks in the Uk were, when you had staff and a 'personal banker' you could talk to.


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## snikpoh (Nov 19, 2007)

Alcalaina said:


> Here's a comparison site that shows all the various conditions for "free" banking.
> https://cuentas-bancarias.rastreator.com/resultados-comparativa
> 
> Obliging you to buy insurance or other products to get it is I believe not strictly legal, though they all seem to be doing it now.


What that link doesn't seem to mention (that I could see), are the numerous ONLINE accounts which are completely free with no restrictions.


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## Alcalaina (Aug 6, 2010)

snikpoh said:


> What that link doesn't seem to mention (that I could see), are the numerous ONLINE accounts which are completely free with no restrictions.


I think most of them are online, aren't they? 

For Santander's Zero 123, for example, the stated conditions are:

Cuenta 100% digital
Sin requisitos ni comisiones y tarjeta sin comisiones
Transferencias online en moneda euro
Asociado un paquete de productos
Las condiciones las eliges tú!

Condiciones A):
Domiciliar ingresos mayores a 600€, Domiciliar 3 recibos
Condiciones B):
Saldo medio mensual mayor a 60.000€, Más de 1.000 acciones del Banco Santander


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## DonMarco (Nov 20, 2016)

Alcalaina said:


> I think most of them are online, aren't they?
> 
> For Santander's Zero 123, for example, the stated conditions are:
> 
> ...


Just to clarify,

Either condition A or B apply not both and the 3 recibos are over a three month period not monthly.


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## Terdave (Dec 19, 2014)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


I went to my Local Santander Bank and asked the question:-
Everyone has received an email
Charges are to be increased as stated
Conditions have only changed with the Santander 123 account, I have the zero account 123 so I can enjoy free banking.

Merry Christmas


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## Barriej (Jul 23, 2012)

Terdave said:


> I went to my Local Santander Bank and asked the question:-
> Everyone has received an email
> Charges are to be increased as stated
> Conditions have only changed with the Santander 123 account, I have the zero account 123 so I can enjoy free banking.
> ...


Cheers for that. I have the Zero 123 account but its a non resident one, so hopefully once we move over we will get free banking as well.


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## Dominic Lopecas (Aug 9, 2019)

Barriej said:


> Just thought I would share this.
> 
> Ive just had an email telling me that my 123 account will from Jan 2020 be subject to a monthly charge of €12 (previously €8)
> 
> ...


You don't have to use Santander, BBVA internet account doesn't charge you any thing and you can do any D.D international transaction, I fired Unicaja Banco three years ago and that was a best thing that I have ever done. on my research I found that BBVA was the only bank in Spain doing free-Banking the rest all are COWBOYS and the Spanish government is part of the problem as they tolerates those abusive-charges


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## Terdave (Dec 19, 2014)

Barriej said:


> Cheers for that. I have the Zero 123 account but its a non resident one, so hopefully once we move over we will get free banking as well.


To meet the conditions I had to be a resident in Spain so not sure how you have got away with that.
As a non resident you will have to pay a non resident tax which ever bank you are in.
please correct me anyone if I have this wrong


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