Sabadell United Bank Reviews
Sabadell United Bank has its recognition and is known to be the most significant part of a Spanish financial group. This financial group is called Banco Sabadell. It is credible and authentic enough to provide a diverse range of banking products and services
The services are exceptional and known as it offers its own set of advantages and drawbacks.
To state the precise overview of all these perspectives, a detailed review of Sabadell United Bank is given next. We will consider various aspects/products of the bank including savings, checking, CD rates, money market accounts, mortgage loans, and many others.
Sabadell United Bank Overview
The Sabadell United Bank is the most prominent subsidiary of Banco de Sabadell, S.A.
- It has its headquarters in Barcelona, Spain.
- The bank was first established in 1974.
It started its working as a nationally chartered commercial bank because the broader spectrum was not achieved at first. At that time the bank formed its headquarters in Miami, Florida. The people/customers enjoy a variety of banking and wealth management services.
The bank has almost a total of around 25 operational branches. These branches spread all across Florida, including;
- Dade
- Broward
- Palm Beach
- Hillsborough
- Sarasota
- Collier Counties.
Locations and Services
As stated above the Sabadell United Bank holds a branch network span that is spread all across several key areas of Florida. Some of the locations are
- Aventura Banking Center Branch – This branch is located in Aventura, FL and it has 25 branches of bank
- Coral Gables Branch – They have multiple branches in Coral Gables and it is a clear indication of their strong presence in this region.
- Fort Lauderdale Branch – This branch is situated in Fort Lauderdale, FL. It is part of their expansive network.
- Miami and Miami Beach Branches – The bank has several branches that are located all across Miami and Miami Beach
- Branches in Naples, North Palm Beach, Palm Beach, Plantation, Sarasota, Surfside, Tampa, and West Palm Beach
Checking Accounts
Different checking account offerings at Sabadell United Bank are as follows. All the options are convenient enough to meet the versatile needs of customers.
| Account Type | Description | Eligibility | Fees and Commissions | Features |
| Sabadell Online Account | Exclusively for new customers. No issuance, maintenance fees, or conditions. Includes free debit and credit card with no issuance or maintenance fees. Interest-bearing and no fixed term. | New customers | No issuance or maintenance fees | Free debit and credit cards, Interest-bearing |
| Sabadell Account | Flexible account suitable for individuals under 30. No administration and maintenance commissions for this age group (NIR 0% APR 0%). Includes a free debit card. | Individuals under 30 years old | No administration and maintenance commissions (for under 30) | Free debit card, Convenient card and transfer usage |
| Basic Payment Account | Designed for those who do not have an account in Spain. Offers access to digital banking and bank ATMs. Includes a free debit card with no issuance or maintenance fees. | Individuals without an existing account in Spain | No issuance or maintenance fees | Access to digital banking, Free debit card |
| Sabadell First Account | Specifically for minors. No administration or maintenance fees (NIR 0% / APR 0%). Includes free online transfers within the European Economic Area. Free debit card for those over 14. | Minors (Underage individuals) | No administration or maintenance fees (for minors) | Free online transfers, Free debit card for minors |
| Key Account | Designed for non-residents in Spain. Ideal for international clients. Offers access to an exclusive translation service. Includes cards with no issuance or maintenance fees. | Non-residents in Spain | No issuance or maintenance fees | Access to translation service, Cards with no fees |
Saving Accounts
Sabadell United Bank works along with various savings account options. Each of the accounts has the most reliable feature that supports the financial goals of the audience. Here is the most precise summary of the possibly occurring accounts:
| Account Type | Description | Eligibility | Fees and Commissions | Features |
| Sabadell Online Account | Exclusively for new customers. Offers digital banking, no issuance, maintenance fees, or conditions. Immediate access to debit and credit cards. | New customers | No issuance or maintenance fees | Digital banking, Instant card access |
| Sabadell Account | Flexible account adaptable to customer needs. Particularly beneficial for those under 30 with no administration or maintenance commission. Includes a free debit card. | Individuals under 30 years old | No administration and maintenance commissions (for under 30) | Free debit card |
| Basic Payment Account | Designed for those without an account in Spain. Provides digital banking access and ATM usage. Comes with a debit card and no issuance or maintenance fees. | Individuals without an existing account in Spain | No issuance or maintenance fees | Access to digital banking, Free debit card |
| Sabadell First Account | Specifically for minors. No administration or maintenance fees. Offers free online transfers within the European Economic Area and provides a debit card for those over 14. | Minors (Underage individuals) | No administration or maintenance fees (for minors) | Free online transfers, Free debit card for minors |
| Key Account | Designed for non-residents in Spain, ideal for international clients. Offers an exclusive translation service and cards with no issuance or maintenance fees. | Non-residents in Spain | No issuance or maintenance fees | Access to translation service, Cards with no fees |
| Ahorro Sabadell | Allows customers to set personalized saving routines with total fund availability. Digital management and immediate access to funds. | Customers | No specific fees mentioned | Personalized saving routines, Digital management |
| Sabadell Savings Plan | A savings life insurance product offering flexible savings with guaranteed profitability. Allows regular or extraordinary payments at the customer’s pace. | Customers | No specific fees mentioned | Guaranteed profitability, Flexible payment options |
| Account 5, ILTSA | Tax-exempt long-term savings account on income generated after five years. Offers flexibility in savings amount and timing with a maximum annual pay-in of €5,000. | Customers | No specific fees mentioned | Tax-exempt savings, Flexibility in savings |
CD Rates and Money Market Accounts
For further cooperation and relevant financial support, the Sabadell United Bank offers the most competitive and highly specified CD (Certificate of Deposit) rates along with the money market accounts.
Most generally, these products are managed to deliver the most competitive interest rates. So that the choice can become a good option for customers who require safe investment avenues.
All customers who are interested in CD rates and money market accounts are directed to contact the bank or visit their official website for the most current rates.
Mortgage Loans and Other Loan Products
The range of loan products offered by the bank is also quite considerable and convenient for choosing customers. These products include mortgage loans. Mortgage loans are typically available for;
- Purchasing Homes
- Refinancing Homes,
However, to meet these needs, the terms vary based on market conditions as well as the creditworthiness of the borrower.
Additional Products and Services
Some of the most prominent products that feature the working of Sabadell United Bank are;
| Service | Description | Target Audience | Key Features |
| Personal Banking Services | – Checking and savings accounts.- No issuance or maintenance fees for debit and credit cards.- Online non-immediate transfers within the European Economic Area with no charges. | General Personal Banking Customers | Fee-free cards, Convenient online transfers |
| Digital Banking | – Emphasis on digital banking solutions. – Mobile account management.- Bizum for easy money transfers. | All Customers | Mobile account management, Bizum service |
| Business Banking Services | – Tailored for self-employed individuals, SMEs, and companies.- Includes business accounts and other related services. | Self-employed, SMEs, Companies | Business accounts, Customized services for businesses |
Comparison Overview with Other Institutes
| Aspect | Sabadell United Bank | Wells Fargo | JPMorgan Chase |
| Headquarters | Miami, Florida, USA | San Francisco, California | New York City, New York |
| Types of Accounts Offered | Checking, Savings, CDs, MMAs | Checking, Savings, CDs, MMAs | Checking, Savings, CDs, MMAs |
| Digital Banking Availability | Yes | Yes | Yes |
| No Maintenance Fees for Checking Accounts | Some accounts | Varies by account type | Varies by account type |
| Interest-Bearing Savings Accounts | Yes | Yes | Yes |
| Mortgage Loan Options | Available | Available | Available |
| Non-Resident Account Options | Key Account | Yes | Yes |
| Customer Service Reputation | Mixed reviews | Mixed reviews | Mixed reviews |
Pros and Cons Analysis
Pros:
- Diverse Banking Products – Sabadell United Bank offers a wide range of products including checking, savings, CDs, money market accounts, and mortgage loans.
- Digital Banking – The bank emphasizes its digital banking platform, facilitating easy online and mobile account management.
- No Maintenance Fees for Certain Accounts – Some accounts, like the Sabadell Online Account, come without issuance or maintenance fees.
- Personalized Savings Options – With accounts like Ahorro Sabadell, customers can set personalized saving routines.
Cons:
- Customer Service Concerns – Some customers have reported issues with customer service and account management.
- Restrictions on New Customer Benefits – Certain benefits, like the Sabadell Online Account, are exclusive to new customers, which may disadvantage existing customers.
Customer Reviews
Customer reviews highlight a mixed response:
- Positive Reviews – Customers appreciate the variety of banking products and the convenience of digital banking options.
- Negative Reviews – There are concerns about customer service and the complexity of account management.
Final Personal Review – Services, Customer-Centric Approach
- Services – Sabadell United Bank offers comprehensive banking services with a strong emphasis on digital banking. Their range of products caters to diverse customer needs.
- Customer-Centric Approach – While the bank offers innovative products, the mixed reviews on customer service suggest there might be room for improvement in terms of a customer-centric approach.
Conclusion
Sabadell United Bank offers a comprehensive suite of banking products, underpinned by a strong digital banking platform. While there are definite strengths in its product range and digital services, customer service appears to be an area needing enhancement.
As with any financial institution, potential customers should review current information and consider their financial needs before engaging with the bank’s services. For the most current information on their products and services.
FAQs
Yes, some accounts like the Sabadell Online Account are interest-bearing.
Yes, the Key Account is specifically designed for non-residents.
It varies by account type. For instance, the Sabadell Online Account has no account management or maintenance fees.
While specific details aren’t available, typically banks offer mortgage loans for both purposes.