Bancaja - now Bankia

[ianines]

It seems that as of today, 4 August, Bankia (formerly Bancaja) are no longer honouring committments for new loans with non-residents. Their head office have issued an instruction to stop all transactions in the pipe line, as they say that non-residents are the worst offending debtors. That means us, the Brits along with everyone else. On the other hand they would like us non-residents to leave our deposits with the bank. What do you think we should do and why have Bankia felt the need to discriminate in this manner. Could they be running out of money, or is that they just don't like foreigners anymore?

 

[Nick]

I've no idea why this bank are no longer issuing loans to non-Spanish (the real reason).

However, no way can they discriminate against a non-Spaniard. They are part of the EU and this would be a "human rights" case. Even the Spanish would not dare to breach that I'm sure!!

 

[Tonsyl]

I wish I had your confidence in the matter. I may be getting old and cynical but I have long believed that whilst in Britain we play the "good guy" and obey the minefield of EU regulations, other countries only obey those that suit them. In this case, it is a purely commercial decision on the part of the bank and if the customers vote with their feet and go elsewhere, so be it. I have to declare that the company in question is not one I use but if it were, I'd be moving my money elsewhere, deposits or borrowings.

 

[cherylbb]

I think its more to do with the trouble this Bank & others are in at the moment.

Spain’s Bankia to raise €3.3bn in IPO - FT.com

They've even put Ronaldo up as collateral!!

Spanish bank fields Ronaldo as collateral - Telegraph

 

[Deanscroft]

As I understand it Bancaja was a `mutual´(like an old style British Building Society) but it has now converted to a limited company with share holders. As such I presume it has to be more careful about the `risks´it takes. It also explains why it has now introduced a raft of new charges. As from 1st August you will pay 24 euros a year account maintenance charge (used to be free), an unspecified `per transaction´charge (used to be free), plus 18 euros a year for each debit/credit card (used to be 12 euros).

 

[barefoot]

These fees seem more in keeping with the other banks in the port. Certainly Banca March charge similar. (Their per transaction charge is 60c).

 

[jamesfshaw]

Frankly Bankia are showing signs of incredible incompetence.

New Bancaja customers cannot log in yet today.

It does not inspire confidence.

 

[Sparky]

James do read this thread http://www.forum.puertopollensa.com/living-working-pollensa-area/8614-bancja-merged-bankia-2.html

To save confusion i will now close this thread.