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I’ve had a Spanish Bank current account which I keep in healthy credit but still continue to be charged monthly charges (no Direct Debits/monthly payments from it). All I am doing is paying in, & they are taking out ❗ I’ve checked a few other banks but it is seems that unless you pay a substantial fixed monthly amount into the account there will always be charges & No interest 🙄 I don’t want a savings account that restricts access to my euros.
Anyone any advice/ recommendations please ❓ Many thanks
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Hi Suzanne
there are many banks that will give you an account for a small annual fee for cards etc. Usually the Cajas operate these kind of accounts. Cajamar is a very good bank (I am not with them but up here they are very helpful, have no account charges whatsoever and even do free money transfers at good rates) Banc caja also offer a fixed annual rate.
Generally though if you question any charges you may be surprised to find they disappear. I once got charged €400 for the privelege of putting €10,000 cheque in my account. When I queried it and asked for the cheque back to put into another bank, they reduced the fee to €25. I told them to give me my cheque back as I did not agree with charging me for them using my money when so many banks around will happily let me put it in for free. The charge was subsequently dropped.
The banks play on the fact that most foreigners will accept small charges because they know no different. Over a period of time these small charges can add up. So question everything and who knows what you might find. If not change banks there are many who would love to have your business
Regards
Vince
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Hi Laury
you tend to find that when using a cash machine in the same network (Telebanco or servired for example) the charges are 30 cents to 1 euro. If you use an inter network (ie your card is servired and you use telebancoo) they will charge you 6 euros a time.
I found this out myself a few years ago. My mother had my cash card as I was in UK and having reforms done on my house here. She was paying the builders by withdrawing funds from my account here in Spain. However rather than go to my bank she went to her cash machine which is literally across the road. In 3 months I was charged in the region of 900 euros for the privelege.
You will also find that cash machines that are not part of a bank (fopr example in a supermarket) will charge a percentage of the amount withdrawn. In my local Caprabo this is 4%/
However they are all required to display any charges they make before you withdraw so you have the option of saying no.
Regards
Vince
Worth watching out for that one.
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We always say no. 😆
Except for my hubby on saturday. His pocket was picked on the tube and his wallet went with a couple of hundred euros and about £60 plus his british cards and everything too….Fortunately his Spanish cash cards were loose in his pocket. No idea why.
He had to go to the nearest cash point for some money. He paid the requested 4.50 euros. 😆Laury
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🙁
Suzanne, I once had an account with Solbank in Marbella and despite being in credit, I was constantly charged for this and that even though it was hardly being used, even when they credited interest they seemed to charge for the entry it seemed.
Each time I emailed them, and they promptly refunded these amounts. I think you just have to do that or move to another Bank which is more willing to play ball. Contest charges as you would in the UK.
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In 3.5 years we’ve had just under 700€ of bank charges of which we have had about 50% refunded.
The remaining 50% are generally about chq’s and UK to Spain transfers all the others such as 45c to tell me they have paid the water bill are refunded along with all annual fees for bank cards etc… If you don’t ask you don’t get is the motto.
No wonder the Spanish banks are mulling over some big take overs.
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