Bank charges on pension deposit.

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poppy1
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Bank charges on pension deposit.

Postby poppy1 » Fri Jun 25, 2021 11:23 am

Need to know if banks make a charge if you have your UK pension paid in.
Seem to remember reading somewhere that this might happen after Brexit
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fyfin
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Re: Bank charges on pension deposit.

Postby fyfin » Fri Jun 25, 2021 12:52 pm

I assume you are referring to the UK State Pension where they pay you in euros and use the commercial rate. I can only speak for Ibercaja and Unicaja. Mine is paid into Ibercaja and I have no additional charges whatsoever. In fact, the only charges we have on that joint account is €10 per a year for each debit card. My wife has her State pension paid into Unicaja and again no charges over and above the standard charge for maintaining the account which are , in fact greater than Ibercaja at €10 per month.
If you are referring to a private pension you may find there may be various charges depending on how your provider transfers it.
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poppy1
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Re: Bank charges on pension deposit.

Postby poppy1 » Tue Jun 29, 2021 12:54 am

It's the state pension I was referring to.
It's just with all the new bank charges I want to avoid any more 'extra fees'.
What happened to the free banking we had a few years back?? The banks used to offer accounts with free cards and no maintenance charges to entice you and now they seem to charge for everything.

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El Cid
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Re: Bank charges on pension deposit.

Postby El Cid » Tue Jun 29, 2021 8:48 am

With the now tiny amount of interest on the customers accounts, they can no longer afford to offer unlimited free banking without imposing requirements such as regular deposits, taking out insurance etc.

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