The banks in Spain could well be the worst in Europe, if not the world.
They make obscene profits, yet they continue to close branches and their service gets poorer and poorer.
Here is a potted history of my experience of Spanish banks over more than five decades.
Banco Hispano Americano
I opened an account with this bank in San Sebastián (Guipuzcoa) in 1970 whilst on my year abroad from university. I knew a cashier there, Santi, so it made sense. After a few years I no longer needed the account, so I closed it.
Banco Hispano Americano no longer exists, having merged with Banco Central in 1991.
Unicaja
Having bought a property in Spain in 2001, I needed a Spanish bank account once again. On the recommendation of the estate agent who was selling me the apartment, I opened an account with Unicaja, at that time a regional (Andalucian) caja de ahorros (savings bank).
I enjoyed free banking and a trouble-free experience with Unicaja until they decided to get too big for their boots and became a bank. Then it got much more complicated …..
In 2022 Unicaja completed the takeover of Liberbank and became truly a national bank and the sixth largest in the country.
Their criteria for free banking were tightened and I no longer qualified. Post-merger coincided with a marked deterioration in their level of service. They even cancelled their service in the German language.
I cancelled my account. They charged me a fee of 50€ for the privilege!
BancSabadell
I opened an account with this Valencian bank around 2018 and used it as a secondary account until Unicaja and I parted company. At that point Sabadell became my main bank here in Spain.
I was delighted. I got to know the director of the Ronda branch, Carlos, and everything was fine until …..
….. the bank decided to close the branch. Despite being the fourth largest bank in Spain.
I discussed this with Carlos, and he re-assured me that the cajero automatico would remain and that he would still be contactable at his new branch in San Pedro de Alcántara, over an hour’s drive from Ronda.
I agreed to stay with them and to see if it worked for me.
Well, within a year they had removed the cajero and I could never get hold of Carlos on the phone.
At the end of my tether, I finally closed my account last week.
Caixabank
Around 2021 I opened an account with this Catalan bank. Its criteria for free banking were easier for me to meet than with all the other Spanish “high street” banks.
At that time there were two branches in Ronda, one in Arriate and another in Montejaque, where I spend a lot of time.
Within six months of joining Caixabank, the Montejaque branch reduced its hours of atención al cliente to two days a week. A bit inconvenient, but I can live with that.
Their “free” banking isn’t free. They charge me a monthly fee for receiving my UK pension (although that might be because of Brexit, I suppose), and also for receiving payment for any rentals of my holiday home in Montejaque paid from the UK.
They also charge 1.95€ for an immediate bank transfer within Spain.
Frustrating, to say the least.
The other day I needed to go to the counter at the main Ronda branch. As always, there was a queue for the only caja. I was about fifth. All of a sudden, the cashier disappeared upstairs with a customer, leaving the caja unattended. A colleague would take her place, she said.
After 20 minutes no-one had appeared. I went behind the scenes to find somebody and spoke to the assistant manager, Antonio, who had nobody with him.
“Why is there nobody at the caja?” I asked politely.
“The other cashier has gone for breakfast,” he replied, without batting an eyelid.
“At this time?” (It was 12.10 pm!)
“Why can’t you take over? There’s a long queue.”
“Sorry, I’m only doing citas previas (prior appointments),” he said unconcerned.
“OK. You don’t have anybody with you, can I make a cita previa for right now?”
“You have to make appointments via the cashier,” he pronounced, without realising how foolish he sounded.
“But she’s not there – she’s gone for afternoon breakfast …..!”
He just shrugged. Honestly, you couldn’t make it up!
Absolutely dreadful service!
Santander
A few years ago (in 2010) my wife needed to open an account with Santander in Mallorca. She never used the account, so, after a year, she closed it, for which they charged a fee!
By default, I have an account in the UK with Santander, now the largest of the high street banks there. Back then I was with the Alliance and Leicester, which Santander took over in 2010, along with Abbey National and Bradford and Bingley, making them number one.
I stayed put. I have to admit, I have no quibble with Santander UK.
Although Banco Santander and Santander UK are separate businesses, they remain “cousins”. As a result, I benefit from a special offer in that I can withdraw cash from my UK account at a Banco Santander cash machine without any costs.
That’s the only positive I can think of at the moment.
Banks? They’re all terrible. I must check out the space under the mattress …..
© The Curmudgeon
Further reading:
My Top 10 Bugbears – From Banks to VOX (eyeonspain.com)
The Tax Man, Spanish Banks and the Policia Local (eyeonspain.com)
Tags:
Abbey National, Alliance and Leicester, Arriate, banco, bank, Banco Central, Banco Hispano Americano, Banco Santander, Bancsabadell, Bradford and Bingley, Caixabank, Montejaque, Ronda, San Pedro de Alcántara, Unicaja