Community bank account charges

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Screagle
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Posts: 52
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Location: UK / 11540

Community bank account charges

Postby Screagle » Thu Oct 01, 2020 11:53 am

The president of our garage owners' community has just been in touch to advise that CaixaBank is from today going to raise the monthly account fee to 60 euros per month! I don't know what the fees were but as there are only three of us it is going to hurt and will more or less double our individual contributions. Seems like we have no option but to change accounts.

Now my question here is (possibly straying into "You & the Law in Spain" territory): does a community bank account need to be a business or personal account?

I'm also part of the building community above the garages (different owners, but same president) and our community bank account is with Santander. Is there any reason why we shouldn't move the CaixaBank account to Santander? Obviously we would need to keep the accounts separate.

Grateful as always for insights from the forum

Saludos

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costakid
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Re: Community bank account charges

Postby costakid » Thu Oct 01, 2020 2:38 pm

Have you seen anything in writing? 720 Euros a year in management fees seems extortionate.

Screagle
Andalucia.com Amigo
Posts: 52
Joined: Thu Dec 06, 2018 6:38 pm
Location: UK / 11540

Re: Community bank account charges

Postby Screagle » Thu Oct 01, 2020 4:00 pm

I was sent an email from the president confirming CaixaBank's account management fee increase. He actually visited the branch to complain and request an exemption from the bank on the grounds that it is a property owners' community bank account. Apparently they weren't interested.

We've had problems with this bank before as last year we submitted our statutory meeting minutes more than a year after the previous year's submission and they blocked the account from receiving funds! I only found out when my transfer to CaixaBank was returned.

Seems like they don't want us or this type of account hence my question as to whether as a community are obliged to have a business bank account. Clearly we're not a business / profit-making concern but it seems they are trying to charge us as such.

Saludos


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