SPANISH BANK CHARGES/MOTOR INSURANCE

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This topic contains 24 replies, has 7 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 11 months ago.

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  • #52515
    Profile photo of Anonymous
    Anonymous
    Participant

    Thank you for your e-mail on the above subjects. With regard to bank charges, there is now an EU regulation which stipulates that for amounts of money up to €50.000, there are no charges for transfers betyween one EU country and another provided that the international bank account number (IBAN) is used.
    >
    >With regard to motor insurance, the matter is more complex. The EU has not yet succeeded in opening up the car insurance market. Despite many years of negotiation, it is a difficult matter because the national laws pertaining to motor insurance are very different and there are different systems in operation. You are correct in saying that 3rd party cover is extendable to other countries and there are some local agreements, for example a German insurer can offer fully comprehensive cover in Luxembourg, but the overall picture is still far from complete. It is hoped that ultimately, true cross-border motor insurance will be a reality, but we are not there yet.
    >
    >This unofficial e-mail will be followed by an official written reply in due course.
    >
    >Yours sincerely,
    >
    >
    >Unit for correspondance with citizens.
    >European Parliament.

  • #68107
    Profile photo of Anonymous
    Anonymous
    Participant

    Interesting (excuse the pun). How about amounts over Euros 50,000. I recently transferred a bit more than 50k to Spain and was charged more than 200 Euros by the receiving agent.

  • #67907
    Profile photo of Anonymous
    Anonymous
    Participant

    Interesting (excuse the pun). How about amounts over Euros 50,000. I recently transferred a bit more than 50k to Spain and was charged more than 200 Euros by the receiving agent.

  • #68109
    Profile photo of Anonymous
    Anonymous
    Participant

    Please write to them via e.mail, this reply was received in some three months. As you can say not very helpful.

    So now we have to transfer €49,999, every time and let the bank do the work four times as in your example of €200,000, and if charged, Just sue them, there is no other way. If you want to protect your rights.

    Merry christmas

  • #67909
    Profile photo of Anonymous
    Anonymous
    Participant

    Please write to them via e.mail, this reply was received in some three months. As you can say not very helpful.

    So now we have to transfer €49,999, every time and let the bank do the work four times as in your example of €200,000, and if charged, Just sue them, there is no other way. If you want to protect your rights.

    Merry christmas

  • #68110
    Profile photo of mariadecastro
    mariadecastro
    Participant

    Shakeel:

    Could you kindly say ( if you know) what regulation of the European Commission states that? Have tried to find and not found. Of course I am not saying that is not correct, I just ignore and would love to know.

    Happy Chirstmas!

    Maria L. de Castro

  • #67910
    Profile photo of mariadecastro
    mariadecastro
    Participant

    Shakeel:

    Could you kindly say ( if you know) what regulation of the European Commission states that? Have tried to find and not found. Of course I am not saying that is not correct, I just ignore and would love to know.

    Happy Chirstmas!

    Maria L. de Castro

  • #68112
    Profile photo of Anonymous
    Anonymous
    Participant

    Maria
    I believe the details are in Regulation (EC) 2560/2001 covering cross border payments in Euro. I found these details on an Irish Consumer rights website – the website states that the charge for the transfer of Euro between accounts in different EU countries should be the same as you would pay for a transfer between two accounts in the same country. Sounds good but beware ! The website adds that the bank can also levy what it calls ‘domestic charges’ which can vary wildly. In our case a transfer of less than Euro 50k from Ireland to Spain costs us 50 cent and the Irish bank makes no ‘domestic charges’ on top of this. However, in doing a similar transfer from Spain to Ireland we were charged the same transfer fee i.e. 50 cent but an additional domestic fee of 0.8%. The bank was acting within the letter of the law – but hardly the spirit ! Only after prolonged negotiations and threatening to close our account did they refund the extortionate charges. The lesson we learned – agree, in writing, before you carry out any banking transaction what the fee is going to be (we were also charged a huge fee for simply lodging two euro cheques to our account in Spain !) Hope this helps. Mary

  • #67912
    Profile photo of Anonymous
    Anonymous
    Participant

    Maria
    I believe the details are in Regulation (EC) 2560/2001 covering cross border payments in Euro. I found these details on an Irish Consumer rights website – the website states that the charge for the transfer of Euro between accounts in different EU countries should be the same as you would pay for a transfer between two accounts in the same country. Sounds good but beware ! The website adds that the bank can also levy what it calls ‘domestic charges’ which can vary wildly. In our case a transfer of less than Euro 50k from Ireland to Spain costs us 50 cent and the Irish bank makes no ‘domestic charges’ on top of this. However, in doing a similar transfer from Spain to Ireland we were charged the same transfer fee i.e. 50 cent but an additional domestic fee of 0.8%. The bank was acting within the letter of the law – but hardly the spirit ! Only after prolonged negotiations and threatening to close our account did they refund the extortionate charges. The lesson we learned – agree, in writing, before you carry out any banking transaction what the fee is going to be (we were also charged a huge fee for simply lodging two euro cheques to our account in Spain !) Hope this helps. Mary

  • #68118
    Profile photo of mariadecastro
    mariadecastro
    Participant

    Thanks!
    Maria

  • #67918
    Profile photo of mariadecastro
    mariadecastro
    Participant

    Thanks!
    Maria

  • #68125
    Profile photo of Anonymous
    Anonymous
    Participant

    I have recently sold my villa in Ayamonte and La Caixa charged me 700 euros commission to transfer 198,000 euros to my Nat West account in UK plus Nat West charged me £60 for receiving the money. Both banks should be called the Dick Turpin Bank, he was also a highway robber.

  • #67925
    Profile photo of Anonymous
    Anonymous
    Participant

    I have recently sold my villa in Ayamonte and La Caixa charged me 700 euros commission to transfer 198,000 euros to my Nat West account in UK plus Nat West charged me £60 for receiving the money. Both banks should be called the Dick Turpin Bank, he was also a highway robber.

  • #68126
    Profile photo of Anonymous
    Anonymous
    Participant

    PHANTOM FIXER.

    SO WHAT ARE YOU DOING ABOUT IT ????????????????????. ITS FOR LACK OF ACTION ON THE PART OF BANJ USERS THAT MAKES THEM GET AWAY WITH IT.

    DID YOU NOT ASK THE BANK WHAT DO THEY HAVE TO MORE THAN IF THE CHEQUE WAS FOR SAY €10.00, ITS GOES THROUGH THE SAME PROCESSING CYCLE.

    IF YOU HAD TAKEN CASH FROM THE BUYER IT WOULD NOT HAVE COSTED YOU A PENNY. ( THIS IS ONE OF THE OTHER REASONS THAT SO MUCH CASH IS USED FOR TRANACTIONS IN SPAIN) SPAINARDS NO THE GREED OF THE BANK AND USE CASH FOR SMALL OR LARGE TRANSACTIONS)

    YOU CAN CALL THE BANKS WHAT EVER YOU LIKE AS FAR THEY CAN KEEP ON MILKING PEOPLE THEY DONT CARE.

  • #67926
    Profile photo of Anonymous
    Anonymous
    Participant

    PHANTOM FIXER.

    SO WHAT ARE YOU DOING ABOUT IT ????????????????????. ITS FOR LACK OF ACTION ON THE PART OF BANJ USERS THAT MAKES THEM GET AWAY WITH IT.

    DID YOU NOT ASK THE BANK WHAT DO THEY HAVE TO MORE THAN IF THE CHEQUE WAS FOR SAY €10.00, ITS GOES THROUGH THE SAME PROCESSING CYCLE.

    IF YOU HAD TAKEN CASH FROM THE BUYER IT WOULD NOT HAVE COSTED YOU A PENNY. ( THIS IS ONE OF THE OTHER REASONS THAT SO MUCH CASH IS USED FOR TRANACTIONS IN SPAIN) SPAINARDS NO THE GREED OF THE BANK AND USE CASH FOR SMALL OR LARGE TRANSACTIONS)

    YOU CAN CALL THE BANKS WHAT EVER YOU LIKE AS FAR THEY CAN KEEP ON MILKING PEOPLE THEY DONT CARE.

  • #68127
    Profile photo of Anonymous
    Anonymous
    Participant

    Believe me when I say I tried everything not to incur high charges. I even went across to Spain to see the bank manager which is quite difficult for me as I work in Africa. He wanted 0.7% commission on all transfers but after a lot of negotiating I got him down to 0.5%. I did tell him this was too much and said I would come across and draw the whole lot out in cash and take it out of the country. However 2 lawyers, one Spanish and one English working in Spain told me this was illegal as you are not allowed to take more than 6000 euros out of Spain. If you try and are caught you will be arrested for money laundering. If I could have taken the money out of Spain for free I would have. I even tried writing cheques to myself for various amounts and still incurred 0.5% commission on them.

  • #67927
    Profile photo of Anonymous
    Anonymous
    Participant

    Believe me when I say I tried everything not to incur high charges. I even went across to Spain to see the bank manager which is quite difficult for me as I work in Africa. He wanted 0.7% commission on all transfers but after a lot of negotiating I got him down to 0.5%. I did tell him this was too much and said I would come across and draw the whole lot out in cash and take it out of the country. However 2 lawyers, one Spanish and one English working in Spain told me this was illegal as you are not allowed to take more than 6000 euros out of Spain. If you try and are caught you will be arrested for money laundering. If I could have taken the money out of Spain for free I would have. I even tried writing cheques to myself for various amounts and still incurred 0.5% commission on them.

  • #68128
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes, it is illegal to take out more than €6000, but if you have documents to prove as to where the money was from i.e. bonafide legal transaction than I THINK it does not apply. I am sure Maria, Draken, Cesar will clarify the position.

    I had a similar situation when I sold my flat, BBVA was charging silly money and not being able to convience the manager for a ridiculos charge.

    I started shouting unpleasent things about the bank and its manager in the foyer area in English &Spanis.

    Guess what the charges were reduced to €100 if i remember rightly.

    I am afraid you cannot offer normal business decency to these theives

    and please donr tell me that two wrong dont make a right. It does not work in SPAIN.

  • #67928
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes, it is illegal to take out more than €6000, but if you have documents to prove as to where the money was from i.e. bonafide legal transaction than I THINK it does not apply. I am sure Maria, Draken, Cesar will clarify the position.

    I had a similar situation when I sold my flat, BBVA was charging silly money and not being able to convience the manager for a ridiculos charge.

    I started shouting unpleasent things about the bank and its manager in the foyer area in English &Spanis.

    Guess what the charges were reduced to €100 if i remember rightly.

    I am afraid you cannot offer normal business decency to these theives

    and please donr tell me that two wrong dont make a right. It does not work in SPAIN.

  • #68129
    Profile photo of Anonymous
    Anonymous
    Participant

    €6000, cash rule also apply to crediting the amount in the bank as well. However if you have a documents to prove that the cash you have is the net proceeds of a sale than you can credit more than €6000, i.e. what ever the proceeds that you can prove by way of the Notary papers etc.

  • #67929
    Profile photo of Anonymous
    Anonymous
    Participant

    €6000, cash rule also apply to crediting the amount in the bank as well. However if you have a documents to prove that the cash you have is the net proceeds of a sale than you can credit more than €6000, i.e. what ever the proceeds that you can prove by way of the Notary papers etc.

  • #68130
    Profile photo of Anonymous
    Anonymous
    Participant

    We also got stung by La Caixa (Fuengirola) in May, after we sold our apartment we wanted to transfer 90k€ back to the UK, so not only did they do the transfer at a pathetic exchange rate, they also very kindly charged us 0.7% for the privilege 😥

  • #67930
    Profile photo of Anonymous
    Anonymous
    Participant

    We also got stung by La Caixa (Fuengirola) in May, after we sold our apartment we wanted to transfer 90k€ back to the UK, so not only did they do the transfer at a pathetic exchange rate, they also very kindly charged us 0.7% for the privilege 😥

  • #68131
    Profile photo of Anonymous
    Anonymous
    Participant

    I bank with Solbank (Banco Sabadell) who are pretty good. But so they should be as their charges are very, very high.
    The latest surprise from them……I had a cheque from Google for 83 euros. Put it in the bank only to be told that they would charge me 80 euros to do the transaction!
    How about that for a commission rate!!!!!!!
    Also, when I did an online transaction to the UK, I was charged 69 euros. I suppose they could justify it if I went into the branch and asked them to do the work, but I did this myself from my desk!
    Methinks a change of bank for 2007….

    Cheers,

  • #67931
    Profile photo of Anonymous
    Anonymous
    Participant

    I bank with Solbank (Banco Sabadell) who are pretty good. But so they should be as their charges are very, very high.
    The latest surprise from them……I had a cheque from Google for 83 euros. Put it in the bank only to be told that they would charge me 80 euros to do the transaction!
    How about that for a commission rate!!!!!!!
    Also, when I did an online transaction to the UK, I was charged 69 euros. I suppose they could justify it if I went into the branch and asked them to do the work, but I did this myself from my desk!
    Methinks a change of bank for 2007….

    Cheers,

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