Closing Sabadell Bank Account

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Usinspain2578
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Closing Sabadell Bank Account

Postby Usinspain2578 » Tue Oct 05, 2021 10:01 am

Hello

I have asked my lawyer to cancel my Bank account I have with Sabadell Bank as I thought he had POA after quite a few weeks he has now told me
He is not allowed

Verificado el poder por nuestra Asesoría Jurídica, esta nos indica que el apoderado no tiene capacidad para llevar
a cabo el reintegro del saldo en cuenta y la cancelación de la misma.

Has anyone any idea what the best way to get this completed

Thank you

Beachcomber
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Re: Closing Sabadell Bank Account

Postby Beachcomber » Tue Oct 05, 2021 10:22 am

It sounds as though the person who drew up the power of attorney neglected to include a paragraph granting the capacity to carry out this procedure. It must be included specifically.

I don't think there is a facility to do this online so if you want to do this properly you will need to do it yourself at the branch unless you grant another power of attorney specifying that he can close the bank account and withdraw the balance of funds.

The only other way is to transfer all of the funds out of the account and leave it. However, this will result in the account continuing to attract bank charges which they may try to recover from you especially if you continue to have a financial interest in Spain. It is not to be recommended.

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Enrique
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Re: Closing Sabadell Bank Account

Postby Enrique » Tue Oct 05, 2021 10:25 am

Hi Usinspain2578,
Go on to their FaceBook page and ask....... We tried to close our Sabadell account for nine (9) months using the usual letters/email etc, went onto FB page on a Saturday and it was closed the following Monday........... :D

Following Beachcomber's Post..........transfer all monies ( sent letter requesting closure ) out, had 9 months interest accrued by the time they closed it......all wavered on final closure.
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elusive
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Re: Closing Sabadell Bank Account

Postby elusive » Tue Oct 05, 2021 3:43 pm

The only other way is to transfer all of the funds out of the account and leave it. However, this will result in the account continuing to attract bank charges which they may try to recover from you especially if you continue to have a financial interest in Spain. It is not to be recommended.
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We keep getting debt collectors letters for someone who lived across the street from us, not even our house for money owed to sabadell bank. They left the house over 10 years ago!! . Obviously never told sabadell. No matter how many times i tell the bank the letters keep coming. I even told them to look them up on f.book if they are that bothered. Took me all of two minutes to find them in scarbrough :lol:

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Re: Closing Sabadell Bank Account

Postby Miro » Wed Oct 06, 2021 6:19 pm

Beachcomber wrote: Tue Oct 05, 2021 10:22 am The only other way is to transfer all of the funds out of the account and leave it. However, this will result in the account continuing to attract bank charges which they may try to recover from you especially if you continue to have a financial interest in Spain. It is not to be recommended.
When we left Spain in 2017, we told Sabadell we needed to keep our account open for a few weeks in case of any unforseen bills/payments etc., but that we would be writing to them subsequently to close it. They told us in no uncertain terms that we could only do this in person - and being a joint account (either to sign, mind you), that we would both have to come in to the branch. They refused a post-dated letter, or any other suggestions. Only In person. End Of. When we explained this would not be possible since we would be back in the UK, the manager advised us to just empty the account and leave it then. So we did.

Not long after arriving back in the UK, I logged in to our account out of curiosity, and discovered it was now overdrawn, as a result of them taking a maintenance fee from the zero balance. A short while later, I logged in again, to find they had repaid the fee to bring the balance back to zero.
In September 2020, a former neighbour contacted me to say there was a recorded delivery notification for me in the community mail box, from Sabadell. He opened it for me - it was a demand for over €300. I told him to bin it.
Recently I received an e-mail from Sabadell, informing me that they had sent me a new debit card, and that I needed to activate it. I ignored it, obviously.
I do wonder how long this will go on before the penny (cent) drops. :think:
I don't like it, but they literally left us with no alternative. We do not have any financial interests in Spain now, but if we did, this would be far more unsettling.
Don't worry about what people think, they don't do it very often

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Re: Closing Sabadell Bank Account

Postby Pamela1 » Wed Oct 06, 2021 6:44 pm

Miro, Yes agree it would be very unsettling...so my understanding is that you have a dormant account with zero balance, a demand for 300 e and to top it off they send you out a new bank card!! :lol: Just another case of one hand not knowing what the other is doing, happening in all areas of life. Efficiency gone down the drain.

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Re: Closing Sabadell Bank Account

Postby elusive » Wed Oct 06, 2021 8:05 pm

Closing bank accounts is a concern for when we leave. When you think to much it all starts to get abit confusing. We need to leave before july so dont end up as tax residents for that year but the bank account needs to stay open to pay the income tax bill for the previous year. So i guess the best option is to give your gestor a power of attorney to do it? We are with sabadell aswell

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Re: Closing Sabadell Bank Account

Postby Pamela1 » Wed Oct 06, 2021 8:39 pm

Elusive are you moving back to the Uk? How long have you lived in Spain?

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Re: Closing Sabadell Bank Account

Postby Miro » Wed Oct 06, 2021 11:33 pm

Pamela1 wrote: Wed Oct 06, 2021 6:44 pm Miro, Yes agree it would be very unsettling...so my understanding is that you have a dormant account with zero balance, a demand for 300 e and to top it off they send you out a new bank card!! :lol: Just another case of one hand not knowing what the other is doing, happening in all areas of life. Efficiency gone down the drain.
Nail on the head! On a positive note though, back here in the Unlit Uplands apparently we're moving to a high skill / high productivity economic model - which probably explains why last week I spent several hours stuck in a perpetual loop speaking to a highly skilled & productive AI bot at Barclays, unsucccesfully trying to change my telephone banking password. :crazy: I find Sabadell's low skilled, low productivity model much easier to ignore!
Don't worry about what people think, they don't do it very often

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elusive
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Re: Closing Sabadell Bank Account

Postby elusive » Thu Oct 07, 2021 8:37 am

Pamela1 wrote: Wed Oct 06, 2021 8:39 pm Elusive are you moving back to the Uk? How long have you lived in Spain?
Been here since 2014. Starting to think about it yes. Pretty much seen everything i want to and i'm getting itchy feet getting abit bored. Quite a few reasons interms of lack of security with renting and having a uk house we will want to sell and then move somewhere else in the uk. Ontop of work. Not the best time considering the state the country is in but beggers...

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Wicksey
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Re: Closing Sabadell Bank Account

Postby Wicksey » Thu Oct 07, 2021 10:25 am

Trouble is in keeping the account open is that until it is closed properly it will continue to function. Just because you've drained it of funds doesn't mean that they will just close it, hence issuing new cards etc. I can't remember what we did when we left here to move to France, or indeed what we did when we left France to move back here! I can only imagine we did close the account before we left or at least have been able to give notice of closing it after everything had been finalised.

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Re: Closing Sabadell Bank Account

Postby Pamela1 » Thu Oct 07, 2021 10:53 am

Elusive, i can understand the itchy feet, know people who went out then felt the time had come to leave.No it's not the best of times, everything feels like it's changed and it has..I don't like these times, no one does.I have had itchy feet for several yrs, want to move house but don't know where i want to be. :lol: :lol:

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Re: Closing Sabadell Bank Account

Postby Pamela1 » Thu Oct 07, 2021 1:19 pm

Caxia took over Bankia, we have to start over and update details.Is it common practice for banks to ask for proof of company registration and activity? Also last company tax paid? What has the company details got to do with a personal account especially when both are actualy employed by the company and pay personal taxes in the uk.

elusive
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Re: Closing Sabadell Bank Account

Postby elusive » Thu Oct 07, 2021 1:49 pm

Seems to be pretty common. With money laundering regs etc

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Re: Closing Sabadell Bank Account

Postby Pamela1 » Thu Oct 07, 2021 2:37 pm

So lets say i worked for John Lewis for example...Do you really think JL is going to hand me over the company details showing the last time and amount of tax they paid...That realy does not make any sense..Just because my OTH is a part owner in a company it doesn't mean the other owners would be happy to have the company details passed on.Proof of employment and taxes paid in Uk from HMRC revenue should be all that is required in my view.


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