Embargo on accounts - new stuff

[anis]

More embargos ?
I had a bit of a suprise this morning at my bank- Caja Sur, whilst dealing with some other business.
I have a residence account, all in order and they nicely asked me if I would like to use the new online option, it's free - yes please .
Imagine my suprise, next question, are you working, how much do you earn, if over a certain amount, go now and collect you fiscal documentation etc.,etc., within the month or we will FREEZE your account Help, don't panic, Captain Mainwaring

"What, QUE ? What's all this about ? " They wanted my passport copy and I had to sign a declaration.
I said " but I am resident, I thought this embargo stuff was all about non residents" and she said,
" no - it is for every body, ALL THE CUSTOMERS."
Don't ask me what's going on ? I haven't a clue and between us, the clerk and I, our languages were not sufficiently good enough to get me a clear explanation - under € 30,000 annual income was the magic number quoted, if that's any help.
It seemed quite weird to me because I had not received any notification by post from the bank telling me to do this. If I had not been talking to someone at a side desk, the matter would not have arisen, ie. had I just been waiting for cash at the cash point. What would have happened if I had not visited the bank in a month, I don't call in often ?
Perhaps, it was information that I should have given before and had omitted to fill in, but I have never been asked before so how would I know ?

[Bongtrees]

According to my manager at the BBVA, in the past Cajas did not declare any accounts to the authorities and many Spanish people had accounts in their childrens names gathering interest but not declaring the interest etc.

It is not an anti-foreigner thing at all.

Proper banks seem to deal with the non-residents things themselves and make a small charge for doing so every two years.

[anis]

..yes, but I am not making interest and it has always been a residential account.
This was new to me, I've had the account for ages.

[Beachcomber]

Quite frankly, I would suggest changing to a proper bank. If the financial situation in Spain gets much worse it is the 'Cajas' that will be the first to go to the wall. There is already a rumour about one of them. Not Cajasur at this stage I hasten to add.

[anis]

I think that's very good advice, Beachy, thanks. Something's up and that's for sure.
I couldn't help but notice interest offered by proper banks in another thread, as opposed to mine at 3. 1008 or something stupid, locked up ad infinitum, with the offer of a "hot tray" for one's trouble.
Grumble, mumble, grumble...

[Jool]

Beach, I am with one of the Caja´s - do you know which one is supposed to be at greatest risk?

I loathe this new format, very unfriendly on the eyes..................

[Miro]

I loathe anything new - at first. Give it time, you'll forget what it looked like before pretty quickly!

Anis, most cajas are offering around 6% now.
My BBVA manager pointed out that those offering the best savings rates are likely the ones desperate for cash, and also those most exposed to (toxic?) mortgages - which would probably be the cajas. (Bit like B&B???)

Come on Beachy - which one?

[Bongtrees]

Word here is that it is Mar

[Troglodyfae]

Blimey I need my sunglasses for these pages they are a bit 'In your face' However I like the current default text size, but you can change this at the top right of the page with the icon that looks like a capital A with up and down arrows ( thought I might mention this as not a lot of people notice it)

Anyone any idea about the Caja Granada? I know they partner with Barclays Bank as they are issuing me with a credit card which will partner with my Barclays card making transactions between the two very easy and cheap.

One would have thought that partnering with Barclays they would not be at risk, however I would rather have my eyes wide open than wide shut.

[Jool]

What about Bancaja? Is there a difference in their stability if the caja part of the name is at the end?

[Miro]

A quick glance at their website confirms they are registered with the Confederación Española de Caja de Ahorros - they're a "caja". Savings in cajas have the same 20k protection as bancos.
Can't comment on their stability though.

[Beachcomber]

Bongtrees, your information obviously emanated from the same as mine!

Regarding Barclays in Spain, do not make the mistake of believing that they are anything to do with UK Barclays. They use the logo and the name under franchise, nothing more.

[Beachcomber]

Some information here on bank guarantees in Spain but I think it just confirms the general consensus.

http://www.fgd.es/en/info_regulacion_dinero1.html

[peteroldracer]

I reckon it is about time someone did an in-depth check on the owner of most mortgages in Britain, and goodness knows what else here in Spain - Santander. Weren't there stories a while back about their head honcho being denounced for something? If they are as big in Spain as they now are in the UK, given the over-borrowing that has gone on here, sometimes to fund illegal and now suspended building projects, and every young person having their car on credit despite low wages and a shaky economic outlook, just how solid are they? Just because Big Gordon says they are OK, are they?
Given what those of us who live here know about the efficiency and honesty of a lot of Spanish businesses, and their abysmal customer service, it does make me wonder just how this world player has managed to outshine the rest...

PS - tried the spell checker and I think someone may have fixed it - it even accepts the word "honcho"!

[tjtops]

Sorry if I'm preaching to the converted, but a word of warning anyway:
I had an email this morning from 'Abbey' bank-Santander (I'm not even with them!)...threatening all sorts if I didn't 'verify' my account security etc etc...and of course it was a phishing thing for account details. Just hover the cursor over the link and it comes up with a spurious website, so needless to say I immediately deleted it! (I had one from 'Lloyds' not so long ago so they are obviously doing the rounds again,...)
Normally I wouldn't post anything so obvious, but in view of the recent takeovers etc, I guess a lot of people may well be a bit jittery and could just fall for it......

[spanish_lad]

More embargos ?
I had a bit of a suprise this morning at my bank-...

yeah i had to sign all sorts last week when i was sorting my account out. sign that i earn under 30k, sign that im resident. they took a copy of my "residencia" form and passport. closed my old account and opened a new one.

[Wicksey]

Quite frankly, I would suggest changing to a proper bank. If the financial situation in Spain gets much worse it is the 'Cajas' that will be the first to go to the wall. There is already a rumour about one of them. Not Cajasur at this stage I hasten to add.

I wonder what will happen to the Halifax branches here. Presumably they are profitable and will carry on as before.

[karandjon]

Sorry if I'm preaching to the converted, but a word of warning anyway:
I had an email this morning from 'Abbey' bank-Santander (I'm not even with them!)...threatening all sorts if I didn't 'verify' my account security etc etc...and of course it was a phishing thing for account details.

I am suddenly receiving emails from "La Caixa"...and i don´t even have an account with them!!! How on earth did they get my email address?

[beachbabe]

It is not la caixa - it's a fraudster. email accounts are easy to get/harvest if you do a fair few things online.

[spanish_lad]

I am suddenly receiving emails from "La Caixa"...and i don´t even have an account with them!!! How on earth did they get my email address?

me too. just delete them