- This topic has 24 replies, 7 voices, and was last updated 17 years, 11 months ago by
.
-
Posts
-
-
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. -
-
-
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
-
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
-
-
-
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 -
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 -
-
-
-
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
-
-
-
-
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,
-
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,
-
- The forum ‘Spanish Real Estate Chatter’ is closed to new topics and replies.
