spanish bank charges

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24 Mar 2008 5:07 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

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It's been mentioned before, but just to remind anyone who is going to completion soon, Spanish banks charge (usually a totally unreasonable percentage of the amount withdrawn) for bankers cheques. They are also unlikely to mention this to you beforehand, but obviously it can be a significant amount, so beware! In my experience, this charge is negotiable (they won't tell you that, either!) so lay it on a bit, tell the bank you will be transferring more money later from UK (even if you're not), tell them you will only ever use them, will never be unfaithful and go to their competitors etc. etc.

I have been with the same bank for several years now and they know me pretty well (as in, "oh dear, here comes Roberto again, now what does he want?") and I have an agreement with them to deposit or withdraw bankers cheques with no charge at all. And they keep giving me baseball caps and pens etc.! I passed another bank today, with an offer in the window, showing a set of saucepans available to customers opening new accounts, and the slogan "This pan could be yours!" I was mighty tempted, but resisted. Offers of gifts like this are made in lieu of interest, and as such are taxable!! Imagine my surprise a couple of years ago when I brought home a nice shiny new pressure cooker from the bank, only to discover tax deducted from my account on the value of the cooker?!



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24 Mar 2008 8:32 PM by JohnKath Star rating. 157 posts Send private message

Forewarned is forearmed. I had been told the same fact about bankers cheques costing a large amount. When I completed on my plot the developer would not take payment in any other form so I went in to negociate with my branch of the Banco Andalucia in Ayamonte and was amazed to be told it would be €18 for a BC for €74K but they did explain that this would include the necessary certificates for the Hacienda which the notary would demand to send off to the tax man and the Land Register!



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25 Mar 2008 6:48 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

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As far as I know, bankers cheques are the only form of acceptable payment at the notary, apart from cash, which would have to be explained somehow. And what certificates?

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"Get your facts first, then you can distort them as you please"

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25 Mar 2008 9:12 PM by JohnKath Star rating. 157 posts Send private message

Proof that the money had been imported legally and was not black money or laundered money.



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25 Mar 2008 9:21 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

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Never heard of it, but doesn't surprise me since it's getting harder and harder to prove innocence of any crime these days. Presumably a requirement for non-residents, then? But why would your Spanish bank need to produce a certificate (and charge for it)? Surely if the funds came from overseas, the sending bank (UK) would have to certify to the receiving bank (Spain) that the funds are legal? Sounds a bit of a scam to me, and another excuse for Spansh banks to charge for pointless pieces of paper. Ho hum.

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"Get your facts first, then you can distort them as you please"

Mark Twain

 

 

 




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