Banks management fees

[Jinan]

Barclays at CVO is charging £10 per month, how about your banks? I am thinking of changing.

[sam]

Try Millenium. Lower monthly charge plus few cents each transaction. If you keep a certain amount in account then banking is free, but all the portuguese banks seem to be in financial difficulties so may be a risk. You can bank on line, in english and they have arrangement for free transfers from UK banks.

[joeysoap]

Barclays at CVO is charging £10 per month, how about your banks? I am thinking of changing.

I am also with Barclays cvo. €8 pm + 32c tax (at least I think it's tax) It was €4 +16c for the first 12 months but €8 for the past two years. £10 is equivelant to €12 so have you 'signed' up for extras or anything 'gold' plated?. Personally I think the €8 is pushing it (Irish banks, who are in even more dire straits than Portuguese banks charge approx €4 per month) I only use Barclays to pay utilities and the MB to pay imi tax.

re changing banks: are Portuguse banks as accommodating as UK/Irish banks re transferring direct debits from one bank to another ? Personally know someone in Carvoeiro who was cut off by Lagoa camera for not having a direct debit set up with a local bank (She had a Lagos account)AFAIK the camera were/are breaking EU rules on that one but who can argue with the camera?

[laserblazer]

who can argue with the camera?

That's right, it never lies

Could the OP have meant €10 rather than £10? That's what we pay Barclays.

[Jinan]

The thing is its all new, I only use the bank for paying electricity and water by DD so I don't keep thousands, last October they started to charge, and I do apologize , it is 30 Euros per quarter, I just feel its abit high for the activity going on in the account and hope to find a more friendly bank as I am in CVO for a week and see if I can get a new bank and transfer the DD.
Thanks for the replies.

[md 600 driver]

Try BPI at Lagoa they make a charge buts its 10 euros. Ish per year

[joeysoap]

who can argue with the camera?

That's right, it never lies



(Lagoa camera made her open a 'local' bank account, they wouldn't deal with banks outside of Lagoa/Carvoeiro. IMO this is totally illegal, but if you have no running water......... )

"md 600 driver"]Try BPI at Lagoa they make a charge buts its 10 euros. Ish per year[/quote

wow, that is a good rate. If you change banks do they do the donkey work in transferring DD's or do you have to set them all up again with the new bank?

[LICY]

Joey I think we get used to free banking here. we came away from Barclays several years ago as well the bank that was on the in road and now on the out road. (green sign). hubby says the way to do banking is going through SEPA to pay bills. beyond me of course. Our bank, having said that is Santander as the mortgage is with them. he does not want to keep too much money there now just incase.

[mardi]

We started out with Barclays, being a name we know but quickly changed when we found out about the charges. We moved to BPI, now in Lagoa. Free banking as long as we maintain a balance over 1000euros. It was no problem changing over. Celia from BPI dealt with us, her english is excellent and she couldn't have been more helpful.

[joeysoap]

Thanks both. Yes Licy, I have free banking here in Ireland but not in cvo ..... I agree that SEPA should work but know someone personally whose water was disconnected by Lagoa Camera because their Portuguse bank was in Lagos. only up the road!!! So much for SEPA as far as Lagoa camera are concerned. Thanks Mardi, might give them a shout in October to see if possible to changeover without any hassle. €1,000 would not produce even €20 in interest at 2% so a real saving possible there. Other friends of mine are also with Santander and I think their annual fee is around €50. I don't think anybody should keep all their eggs (money) in one bank anymore, too dangerous. Interesting to see what happens to Sterling tomorrow after the vote in parliament on the EU. Know it means nothing but little things..........

[e-richard]

Only this week I found another bonus with BPI:

For those who frequently transfer chunks of money from the UK, BPI have an incredibly simple arrangement with HSBC such that once registered, you can use your UK internet banking to transfer GBP UK-UK, and then HSBC automatically transfer to your BPI bank in Euros .....

.... and the rate is a whole lot better than I was getting with XE-Trade. You can phone an automated service to get the daily rate: 020 7323 7429

I registered over the phone, and was able to use the service instantly. Actually they cold called me

Contact BPI in London:
Hugo Ruivo
Banco BPI, S.A. - Londres
6 Great Titchfield Street, London, W1W 8BB, United Kingdom
Tel: 0044 - 2074364 424 | Fax: 0044 - 207 5800 587
hugo.filipe.ruivo@bancobpi.pt

[LICY]

Only this week I found another bonus with BPI:

For those who frequently transfer chunks of money from the UK, BPI have an incredibly simple arrangement with HSBC such that once registered, you can use your UK internet banking to transfer GBP UK-UK, and then HSBC automatically transfer to your BPI bank in Euros .....

.... and the rate is a whole lot better than I was getting with XE-Trade. You can phone an automated service to get the daily rate:

I registered over the phone, and was able to use the service instantly. Actually they cold called me

Contact BPI in London:
Hugo Ruivo
Banco BPI, S.A. - Londres
6 Great Titchfield Street, London, W1W 8BB, United Kingdom
What is each transfer? Fortunately hubby gets it FREE.
424 |
hugo.filipe.ruivo@bancobpi.pt

[LICY]

That didn't post right from the iPad. My hubby gets the transfers FREE but do you pay about £15?

[e-richard]

Yes, free of all charges.

Yesterday:
XE-Trade quoted 1.1699
BPI transferred at 1.1820

[LICY]

Yes, free of all charges.

Yesterday:
XE-Trade quoted 1.1699
BPI transferred at 1.1820

Free for you too, that is good. We purchase about 5K at a time so get a better rate of exchange. Wishing it would go back up to 20 something as I think the last big trade was about 22 or maybe 24.