Visa Cards in Spain

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
24 Jan 2013 6:06 AM by akingsail Star rating. 1 posts Send private message

Under the new financial restrictions, countries such as Spain have decided to only allow a maximum of 2,500€ in cash in any transaction. This has created a need for us all to now trust banks and the banking system, which we are all going to do, obviously! I have clients paying me money, which I then need to use to pay my suppliers. The usual business transaction, except now, I cant use cash very easily. I therefore have looked at Visa cards as a method of payment for my goods. The limitations of use, applied by the banks (we trust) mean these are hopeless for my needs. Transaction amounts are up to 10,000€. The supplier won't take cheques, and the quick turnround we have up to now been able to offer our clients, means we cant wait the three days for the bank (who we trust implicitly) to transfer (earn interest on) our money. Has anyone got any better ideas?





Like 0      
24 Jan 2013 8:55 AM by guslopez Star rating in Lorca, Murcia.. 744 posts Send private message

Do the same as the Spaniards. Carry onas normal.



_______________________

Todos somos Lorca.




Like 0      
24 Jan 2013 7:27 PM by juansheetisplenty Star rating in Cartagena. 283 posts Send private message

juansheetisplenty´s avatar

 "we cant wait the three days for the bank "

Sorry don't understand this. We can do same day transfers with our bank in Spain (BMN). We can do a transfer from our account in UK to the our Spanish account using the cheapest/slowest method. Call by 9.30 am and the money is in the account by 6.00pm. Are your clients paying you by cheque?.

Juan

 


This message was last edited by juansheetisplenty on 24/01/2013.



Like 0      
27 Jan 2013 7:34 AM by wickedpink Star rating. 6 posts Send private message

I agree guslopez. Its the way to go, if I can get away with it. However, it would be nice to be able to do it legally. However as usual, the government has not thought this through.

juansheetisplenty, yes, you are right, it does only take a day within Spain. Its the supplier who places the three day wait limit on us, not the banks. It's rare to get a cheque nowdays and if we do, we insist its Al Portador. Most of our clients live overseas so cheques are not an option.

What we need is the government to think before taking actions like this. What they could have done is legally ensure the banks make visa cards available. I don't mind top up cards, but a card I can use up to 1000€ a month is hopeless to me, which is what is on offer at the moment.

So yet again, the EU  becomes even less competitive. The Chinese must be rubbing their hands with glee!





Like 0      
27 Jan 2013 9:40 AM by johnzx Star rating in Spain. 5242 posts Send private message

Wicked.
                              An interesting point you raise in your post. ‘Al Portador ‘ cheques (pay cash) are tantamount to cash. 
 
Wonder how the rules apply there?





Like 0      
27 Jan 2013 12:36 PM by lobin Star rating. 256 posts Send private message

 Hi, Johnx

When an "al portador" cheque is cashed at a bank for an amount higher than 2,500 Euros (perhaps it is 3.000 I can't really check it out now), the Bank must fully identify the person that it is cashing the check.  Therefore, up to that amount, cheques are equivalent to cash but any higher and the parties are fully identified.

The purpose of the cash limitations in business transactions is to reduce the black hidden economy.  





Like 0      
27 Jan 2013 12:52 PM by johnzx Star rating in Spain. 5242 posts Send private message

Thanks Lobin.

Does not affect me but interesting to know.





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

How can I change from Endesa - 0 posts
WANTED- guest beds - 0 posts
Cameron promises in/out referendum on EU - 102 posts
Office of fair trading in Spain - 5 posts
Still looking for Wayne - 0 posts
£20 a week car hire - is this for real ? - 9 posts
What can I get for around £30k in a bohemian area? - 1 posts
Changing to interest only mortgage - 22 posts
A Bank or a Circus? - 0 posts
MRI Fraud and Darran MacAnthony - 1 posts
has anyone had experience of 'exporting' DLA and carers allowance to Spain??? - 2 posts
"Payment in kind" - legal rights and obligations - 1 posts
Which budget airlines has the most generous baggage aloowance ? - 15 posts
Ocean View Property Fraud Scandal!! - 0 posts
Where do I find a houseshare in places like Orgiva - 3 posts
The latest corruption scandal to hit Spain. - 75 posts
Breakdown recovery cover in Spain for three months - 1 posts
How do I know if my holiday rental is legit? - 3 posts
Driving to Spain with my car - checklist & advice - 18 posts
Looking for Estate agent suggestion /recomendations please. Rural property - 10 posts
New European Driving License introduced today - 3 posts
STERLING TAKING A POUNDING - 3 posts
Electricity and Water Charges - 0 posts
Thank you - 0 posts
Holiday property rentals next to the golf course of Almerimar, Andalusia, Spain - 0 posts

Number of posts in this thread: 7

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x