Cheap bank account

[petercs]

ECE/228/2019 on the face of it allows non residents with up to 120 transactions a year access to a 3 euro a month bank account.All Spanish banks are supposed to comply. I currently get charged 35 euro a quarter plus charge for a debit card etc

I suspect that if this rule is infact what it says it is that the banks will fight tooth and nail to avoid us non residents from applying and make it difficult to change our direct debits etc.

Currently with Sabadall, last of the robber barons in my book, who keep increasing charges, with no improvement in services. Que times at the GA branch are too long in my book forcing me to pay for a debit card to withdraw cash which I just do not use for any other purpose

Has anybody looked into this new development

Peter

[Aficionado]

I haven't as yet looked into it but would suspect that the 3 euro per month will be the account maintenance fee only and that all extras (such as charges for DD's etc, debit cards, credit cards and any other additional services) will be subject to additional charge - so whereas there could on the face of it be a saving on quarterly account maintenance charges the banks will seek to recover on that by adding it on to extra charges elsewhere. Of course, if you don't use any such services then there could well be a saving to be had.

I will go and talk to our bank when we are over in 4 weeks or so time and see what they say about it.

[petercs]

The 120 basic transactions includes direct debits, paying in money and opening and closing the account

Have a look at the ECE regulation, there were two in English on the net if you put in the regulation number

Having said all that I still can not see the Spanish banks are going to make it easy for a transfer to a cheaper product, especially as they can milk non residents for extortionate fees

If the regulation is infact what it claims to be perhaps another tact is to try and negotiate a lower fee for the existing accounts

[Ron l]

I stopped using the sabadell debit card for its charges, what I did was open a Santander account in England, and use there debit card in the Santander cash machine, which gives me nearly inter bank rates, it is a 123 account

[Aficionado]

Did some initial research tonight on this, seems the banks have to roll this out within 20 days of the date of coming into force - 29th March according to one site - and must write to all customers making them aware of it. It will be interesting to see if such a letter arrives any time soon.

One thing I did note, if I have understood correctly they only have to offer this for two years after which it will be "re-evaluated" - whatever that may turn out to mean.

Meantime, the cap applies for up to 120 transactions in the year including DD's and interbank transfers, above that can charge what they normally would but cannot increase such charges in an attempt to recover on the 3 euro basic rate. I dare say they will find a way though.

When more detail arrives, from Deutsche Bank in my case, I will post it here.

[ian-steele]

for over a decade i have used a caxton card to withdraw euros from banks, for the past year they charge 1.80 euro for every withdrawl
it used to be free cos the card was preloaded with euros befor i left UK

[DaveG]

Ian, try either the Caixa Bank (same row as Grannet) or the Deutsche Bank in Masa Square.

I use a Nationwide debit card linked to a Flexplus account and these two banks are the only two in GA that don't charge the €1.80 per transaction. The Deutsche Bank is the best because they don't give you that ambiguous message to get you to withdraw in sterling at their criminal exchange rates.

The Solbank started to charge about two years ago and when I went in to complain the staff didn't believe me - I had to go outside and do a part withdrawal to prove it to them.

Dave

[Marinero]

Ian, try either the Caixa Bank (same row as Grannet) or the Deutsche Bank in Masa Square.

I use a Nationwide debit card linked to a Flexplus account and these two banks are the only two in GA that don't charge the €1.80 per transaction. The Deutsche Bank is the best because they don't give you that ambiguous message to get you to withdraw in sterling at their criminal exchange rates.

The Solbank started to charge about two years ago and when I went in to complain the staff didn't believe me - I had to go outside and do a part withdrawal to prove it to them.

Dave

Dave, do they speak english in Caixa or Deutsche bank? Planning to leave Sabadell...
Thank you

[Aficionado]

Dave, do they speak english in Caixa or Deutsche bank? Planning to leave Sabadell...
Thank you
[/quote]

Don't know about Caixa but Deutsche definitely do, Jorge Ortega is the man you want in there.

Michael.

[DaveG]

Hi Marinero,

I only use the ATM's at the Caixa and Deutsche Banks.

Aficionado has confirmed that they speak English at the Deutsch Bank and on my only experience in the Caixa Bank paying a speeding fine the assistant spoke perfect English - enough to have a joke at my expense whilst paying the fine.

In fact I would be amazed if any of the banks in GA didn't have English speaking staff.

Dave

[Marinero]

Hi Marinero,

I only use the ATM's at the Caixa and Deutsche Banks.

Aficionado has confirmed that they speak English at the Deutsch Bank and on my only experience in the Caixa Bank paying a speeding fine the assistant spoke perfect English - enough to have a joke at my expense whilst paying the fine.

In fact I would be amazed if any of the banks in GA didn't have English speaking staff.

Dave

Thanks. Anyway, are you happy with Caixa? I’m planning to leave Sabadell and join Caixa bank)


Отправлено с моего iPhone используя Tapatalk

[wilson]

Before the crash in 2008 GA had loads of banks, most went bump or were merged taken over by a more solvent bank. For the last 6 years we've been with Sabadel and speak as you find the service both in branch and online has been very good only negative being the charges. Previously with both Bancaja and Bankia there always seemed an issue on every visit to GA with day 1 spent in the hour long queue.The 120 euros sabadell charge seems good value in comparison.