Can anyone recommend a good bank?

[whaleywanderer]

We bank with Bancaja and have been very satisfied with the service but since the change to Bankia we are noticing changes that are unacceptable, one such change is that they are now charging to DEPOSIT money! I paid a UK cheque in last week for £1000 and I was charged a fee of 10€ . I asked about depositing cash and they told me it was more expensive to deposit cash (3%) . They also do not give you the interbank rate, it is a rate set by Bankia, which last week was 1.20 (interbank rate was 1.23).

So friends, I am looking for recommendations for a good bank, with reasonable charges and definitely one that does not charge for depositing money into it!

Just had a thought, she may have thought that I meant a cash deposit of pounds and I actually meant euro's. Anybody been charged for depositing cash in euro's?

 

[Stevo66]

We bank with Bancaja and have been very satisfied with the service but since the change to Bankia we are noticing changes that are unacceptable, one such change is that they are now charging to DEPOSIT money! I paid a UK cheque in last week for £1000 and I was charged a fee of 10€ . I asked about depositing cash and they told me it was more expensive to deposit cash (3%) . They also do not give you the interbank rate, it is a rate set by Bankia, which last week was 1.20 (interbank rate was 1.23).

So friends, I am looking for recommendations for a good bank, with reasonable charges and definitely one that does not charge for depositing money into it!

Just had a thought, she may have thought that I meant a cash deposit of pounds and I actually meant euro's. Anybody been charged for depositing cash in euro's?

My bank is la Caixa.Last month I deposited a cheque for £300 and was charged 12 Euros for doing this.

 

[Lorenzo]

Good bank in Puerto Pollensa

Have a chat with Barclays in the port. I opened an account with them when the Banco Halifax branch closed

There is definitely no charge to deposit cash at Barclays - and they even give a small credit for all direct debit payments.

Staff are very pleasant too

 

[barefoot]

Banca March definitely don't charge for depositing euros. They do however charge 60c per direct debit.

 

[usandthewoof]

Barclays Bank

I have to agree with Lorenzo....Barclays on C/Juan XX111 by the 1919 roundabout are fantastic.

I have a residents account, but if you pop in and speak to Francesca (or telephone her) she is so helpful and explains everything very well. I went in with a list of questions about charges, changing DD´s over and transfers and she patiently went through them all one by one for me. I have had warnings about their charges so do get clarity depending on what services you would be using, but as Lorenzo says the current account they are offering at the moment gives you 1% cashback on all utility DD paid from your account if you pay in at least a total of €900 each month.

Good luck.

 

[Deanscroft]

I to am with Bancaja (now Bancia) and have been disappointed with the raft of changes they have introduced since the `takeover´. Problem is, as far as I can tell, they are still just about the cheapest. I was with Bancmarch before and their charges were around double the present Bancia charges. Bancia definitely do not charge for depositing cash (euros). There is a small (I think 1euro) charge for depositing a cheque and a monthly account fee of about 2 euros. Try to avoid having the cash card as there is a yearly fee of 18 euros. My only experience of Barclays was when my Father wanted to transfer 1000 pounds from his Barclays account in England to the Barclays here. The exchange rate offered ( euros received after all charges) was worse than the Hotel next door!

 

[JMD40]

I too am unhappy with all the charges from Bancaja since they became Bankia and intend going in to see the Bank Manageress tomorrow or Wednesday as I find it acceptable that I opened the account with certain conditions which they have changed without any consulations.

 

[tangofan]

Maybe you could try Santander - I assume it is still there?

I am not that thrilled with them in the UK but customers can use Santander ATMs in Spain free of any fees.

My son lived in mainland Spain for a couple of years and used CAM (I think there is a branch in the port) and it seemed the norm to have all these charges. We take it for granted it will be free in the UK - perhaps we should be more appreciative and stop complaining about our banks so much - !

 

[PeRu]

We have been with Solbank Sabadell for years. I can't fault their servicd, either for transfer of cas and hish or other services. Steffen Shoner the Director, and his team all speak perfect English and we have found them incredibly helpful over the years.
I do hope this is of some use.

PeRu

 

[graham]

Hate to worry anyone, but......

Bankia’s failure to face reality brings back crisis - FT.com

 

[whaleywanderer]

Try to avoid having the cash card as there is a yearly fee of 18 euros.

I asked about not having a card but because I use online banking, I was told I need the card to be able to logon!

 

[usandthewoof]

Graham I couldn´t actually get access to the piece - could you give me a brief summary please ? Thank you

 

[Mimsy]

I have an account with Barclays (near 1919 cafe) and agree with other comments - great staff, no scary charges. On-line banking facility seems to work OK.

 

[jamesfshaw]

I tried to transfer money to my account at Bankia in the Port which did not work as their IBAN and Swift Codes.
So I e-mailed Fabio which did not work as they have also changed their e-mail addresses. I then tried to phone them and that did not work.
So can those who know the IBAN and Swift codes and the E-mail addresses of the people at the branch help?

 

[Deanscroft]

To Whaleywanderer - thats one thing that really upset me. One month before they changed to Bancia I was stopped 54 euros for three cards which like you I was told I had to have to access the accounts online. Then they changed the log-on proceedure so now you log in using your NIE number and not the card number. You only need the card to get cash out of the holeinthewall (for which there is a substantial charge if it is not a Bancia machine) or to use as a debit card (for which there may also be a charge ).

 

[graham]

Bankia

MADRID — Shares in Spain's fourth-biggest listed bank, Bankia, fell sharply Tuesday after the government said it would inject public money in the lender this week to clean up huge bad loans.
The stock was down 5.14 percent at 2.253 euros in afternoon trading, with Spain's main Ibex-35 stock index down 0.98 percent.
On Monday shares in Bankia, which has the industry's largest exposure to the property market at 37.5 billion euros ($49 billion), had lost 3.26 percent.
An economy ministry official said on Monday that the government was "finalising a plan to clean up the bank", adding that the scheme would use public money and was likely to be announced by Friday.
The ministry Tuesday confirmed it was working on restructuring Bankia but played down talk of an outright bailout.
"The economy ministry roundly denies that Bankia has been taken over," it said in a statement. It did not specify whether a takeover was on the cards, saying that it was focusing on reforming the management of the company.
"The aim is to carry out a plan to clean up, restructure and improve the corporate governance to guarantee its future viability," it said.
"The government will support the entity in every way necessary to achieve these aims."
Bankia's executive chairman Rodrigo Rato announced his resignation on Monday as news emerged of the impending rescue of Bankia, created in 2010 from a merger of seven savings banks.
The ministry official on Monday said the state was considering using contingent convertible bonds to prop up Bankia. These bonds convert into equity in certain circumstances, for example if a bank's core capital falls below a set ratio.
The leading daily El Pais estimated Bankia would need 5-10 billion euros ($6.5-13 billion) to repair its balance sheet. Business daily Expansion put the figure at 5-7 billion euros.
Those reports were "not far off track", said the economy ministry official, declining however to give any figure.
Spain's banks are still struggling to emerge from a 2008 property bubble collapse, which eliminated millions of jobs and left the financial sector buried in risky assets.
Investors fear the unknown cost of rescuing the industry could derail efforts to stem a rapid rise in Spain's sovereign debt and avert a bailout.
Prime Minister Mariano Rajoy's conservative government, which swept to power in December, had previously refused to countenance the use of public money to rescue the banks.

 

[Chelseadons]

Bankia has today gone into public ownership with the Government taking a 45% stake !!

Spain takes 45% stake in Bankia - FT.com

 

[Nick]

We also use Barclay's in PP. Excellent service and very friendly English speaking staff.

I can definitely recommend them.