Sabadell Bank

[Sir Real]

Hi - my query is about Sabadell wanting proof of origin of relatively minor transactions.

Last year I was in Mainland Spain, and opened a Sabadell account based on recommends here on the forum.  I did so in anticipation of needing a â,¬ account to buy a property in FV this year.  I expected to provide proof of origin for the large transactions which this will entail.

Later today, I will fly out for a quick visit to appoint a solicitor, re-visit the property I want to buy, and some other minor bits and pieces, returning on Saturday.  Yesterday, I sent â,¬200 to my account for cash to hand whilst I'm there.  Sent via Transferwise, who I paid with my UK debit card.

Straight away, I got an email from my Sabadell branch requiring details of the transaction.  Needing to prove the origin of every minor in-payment strikes me as being a pretty dysfunctional way to operate a bank account.  Or is this usual?  If this is the norm for Spanish banks, I'll have to work round it.

Any info gratefully received!

Thanks,
Chris

[spitfire58]

Hi Chris,
We opened a Caixa bank account for our purchase as well. Never had any problems like that & have sent transfers via various methods including TransferWise
Cheers
Ron

[Geoff007]

Hi Sir Real,
We opened a Sabadell account about 12 months ago and have funded it many times wth transactions up to â,¬1k usually via TransferWise and never had any contact from them -maybe this was because we were personally introduced by the Estate Agent ?

When it comes to your purchase I would check the Bank's policy on issuing Drafts -can be a very costly exercise -we forwarded the funds direct to the Solicitor.

[Johnrgby2]

Morning Chris

We have had an account with Sabadel for nearly 2 years now, and I have transferred all sorts of amounts in to it Our first transaction was to pay in £6000 in cash which i had brought with us {long story} and since then amounts from â,¬250 up to â,¬150000 and regularly transfer in circa 11/1200, never get any contact in fact last month I had a â,¬400 refund from Edam which was never queried, the only contact we get is a text if we spend over â,¬200 all it does is tell us the transaction has occurred, strange 

[Sir Real]

Thanks Ron, Geoff and John.  I suspect it's someone at my particular branch being excessively 'jobsworth'.  Late yesterday, I emailed a copy of the Transferwise transaction doc, for which the branch sent an email acknowledgement today.  The cash wasn't in my account first thing today, (before the bank opened) but is now.  I presume it was held back, awaiting the info they required.

Thing is, the credit is on my account listed as being from Transferwise, so the doc I sent didn't really provide much more info than they already had.  Think I'll move the account to the PdR branch - it'll be nearer my new place in Antigua, and should avoid the irritation of doing this every time I pay-in.

Getting ready for my flight this afternoon - Norwegian; 2.15 from Gatwick.  Once I instruct a solicitor tomorrow, I can start the buying process  .

Cheers,
Chris

[Windermeregolfer]

Morning Sir Real

I agree with other posts, we opened our account 12 months & 16 days ago at Sabadell Sol Bank in the Atlantico Centre within 40 minutes of walking through the door and have not had a problem since great service with understanding staff.

We use OFX used to be UK Forex no problem for £3k to £25k no questions asked.

It could have been the branch on mainland Spain that was the issue. 

[Sir Real]

Cheers WMG - I think you're right.  Just been into the PdR branch, who were helpful, and spoke English a fair bit, but weren't quite as forthcoming as the Atlantico branch has been on my visits there.  I hope to get to the Atlantico branch tomorrow after a re-visit to the apartment I'm going to buy in Antigua.  (I need to see where everything might fit!).  I'll pursuade them to switch the account there instead.

Also signed-up with Fuerteventura Law this morning, and went to the notary etc.  Good to go - soon be resident!  .  Must work (hard!) on mySpanish...

Cheers,
Chris

[spitfire58]

Well done Chris. All looking good now. Enjoy that pint on the roof terrace
Cheers
Ron