Merger of Bankia and Caixa Bank

[Shaun&Caro]

The merger went through last week and I understand that Bankia will 'disappear' as the result. Does anyone have local knowledge of the impact on Bankia customers? Needless to say it's a bit tricky to pop into a branch right now, being UK-based. Thanks.

 

[Disorderly]

I know very little about Bankia but we’ve had an account with Caixa since 2018 and the local staff are really brilliant.

 

[Golfaholics]

I agree with Disorderly. We have had an account with Caixa for years ever since Barclays closed and the staff are superb. We deal with a young lady called
Aina-Maria. She is excellent and speaks perfect English.

 

[Disorderly]

I agree with Disorderly. We have had an account with Caixa for years ever since Barclays closed and the staff are superb. We deal with a young lady called
Aina-Maria. She is excellent and speaks perfect English.

Absolutely agree......Aina is a pleasure to deal with and hugely helpful.

 

[Millipet]

We also have been very happy with La Caixa bank and the helpful Aina Maria. However, has anyone else noticed the sharp increase in account maintenance charges? They used to be 12 euros a quarter, then 24 euros but have recently increased to 35 euros a quarter! Can anyone enlighten me with what other banks are charging to maintain accounts at the moment.

 

[Disorderly]

We also have been very happy with La Caixa bank and the helpful Aina Maria. However, has anyone else noticed the sharp increase in account maintenance charges? They used to be 12 euros a quarter, then 24 euros but have recently increased to 35 euros a quarter! Can anyone enlighten me with what other banks are charging to maintain accounts at the moment.

My understanding was that this was due to Brexit, and the U.K. now being outside some EU agreement. If it’s true, I imagine that all banks will have taken similar steps. It also affects the cost of processing incoming money transfers from the U.K. as we recently discovered but, when I queried it, the lovely Aina refunded the charge as a “one off”.

 

[Tiggy]

Banks are not making money & neither are we ...by that I mean the zero interest rates on accounts.Banks in Europe have to charge account holders in order to keep going in these difficult times.
In central Europe with a non for profit bank like Caxia the rate charged per month is ca 9 Euros but with restrictions on how many withdraw,deposit and transfer transactions.

Caxia for 35 Euro per quarter is fairly generous...

20210419_HolaBank_ing.pdf

They also rely on you not wanting the hassle of switching and wanting the personal adviser instead of a call centre so you the consumer have to pay

 

[Disorderly]

Banks are not making money & neither are we ...by that I mean the zero interest rates on accounts.Banks in Europe have to charge account holders in order to keep going in these difficult times.
In central Europe with a non for profit bank like Caxia the rate charged per month is ca 9 Euros but with restrictions on how many withdraw,deposit and transfer transactions.

Caxia for 35 Euro per quarter is fairly generous...

20210419_HolaBank_ing.pdf

They also rely on you not wanting the hassle of switching and wanting the personal adviser instead of a call centre so you the consumer have to pay

Very true, Tiggy. I personally have no problem at all paying a bank for its services. In times of high interest rates they can make money from our money held......not so now!

 

[Teacu]

I must be missing something - I didn’t realise the banking system in Europe was in such dire straits. Are they fit to manage the financial centre/system they are trying to tear away from London ?

 

[Rockape]

Banks use our money to trade in the financial markets. They don't sit on it and wait to gain interest from it.....after all they are the ones paying the interest.

For example, my bank, Barclays remained profitable every quarter during 2020 and delivered a full year Group profit before tax of £3.1bn

 

[Tiggy]

Without going toooo much off topic ...


Barclays plc is a British multinational investment bank and financial services company, headquartered in London, England. Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, and investment management.


&

La Caixa, also known as the "La Caixa" Foundation (Spanish: Fundación ”la Caixa”), is a not-for-profit banking foundation based in eastern Spain.

 

[Shaun&Caro]

My Bankia account (Cuenta On) has zero fees, and no minimum account balance, in return from occasionally receiving marketing messages. The potential loss of this account is one of my concerns over the merger with Caixa.

 

[Rockape]

Not sure what thread to post this on, so please move Sparky as you like.

I had this message from my bank in the last few days and wondering if others had got the same, or if they have already supplied this info to their bank:

Dear customer,

2 September 2021
We inform you that the current regulations on Prevention of Money Laundering require financial institutions a number of measures, including the obligation to obtain and keep up-to-date information on the economic activity of our customers.
If necessary, we do not have all the information required, so we would appreciate you coming to your office in CaixaBank to complete your data.
In addition to providing us with some information on your economic activity and your planned operation, if you work on your own, you need to provide us with the following documentation:
Model 036 (census declaration in the Treasury) or equivalent document in your country of residence.
- Document accrediting its economic activity (IRPF and/or annual VAT declaration in Spain) or copy of taxes submitted in your country of tax residence
We would like to emphasize that, as this is a legal requirement, if this information is not included in our systems within the next 60 days, we will be obliged to limit the operational operation of your contracts.
In addition, with regard to deposits linked to products with outstanding assessed contributions or premiums that you may maintain, we inform you that the only functionality that will remain operational, exceptionally and temporarily as long as it is necessary, will be that strictly limited to the payment of the amount necessary to pay them, which you will have to perform through your office.
For more information, please feel free to contact CaixaBank through your office.

 

[alcanadakid]

Not sure what thread to post this on, so please move Sparky as you like.

I had this message from my bank in the last few days and wondering if others had got the same, or if they have already supplied this info to their bank:

Dear customer,

2 September 2021
We inform you that the current regulations on Prevention of Money Laundering require financial institutions a number of measures, including the obligation to obtain and keep up-to-date information on the economic activity of our customers.
If necessary, we do not have all the information required, so we would appreciate you coming to your office in CaixaBank to complete your data.
In addition to providing us with some information on your economic activity and your planned operation, if you work on your own, you need to provide us with the following documentation:
Model 036 (census declaration in the Treasury) or equivalent document in your country of residence.
- Document accrediting its economic activity (IRPF and/or annual VAT declaration in Spain) or copy of taxes submitted in your country of tax residence
We would like to emphasize that, as this is a legal requirement, if this information is not included in our systems within the next 60 days, we will be obliged to limit the operational operation of your contracts.
In addition, with regard to deposits linked to products with outstanding assessed contributions or premiums that you may maintain, we inform you that the only functionality that will remain operational, exceptionally and temporarily as long as it is necessary, will be that strictly limited to the payment of the amount necessary to pay them, which you will have to perform through your office.
For more information, please feel free to contact CaixaBank through your office.

We are with Caixabank and haven't received this, although a couple of years ago we needed to provide passport and NIE data otherwise we would have had limitations on the use of our account. They also took our photo for use in identification.

 

[Tiggy]

I have been asked for a copy of my passports (duel nationality UK '& EU ) by three of my European accounts since January 2021 ,my tax number and confirmation of my main residence/country.

I dont bank with Caxia but presume this request is the same.

 

[Disorderly]

Ditto….I’m with Caixa but haven’t seen this. Maybe depends upon the type of account? If I get anything from Caixa I’ll post.

 

[Carol]

We were asked for further details by Sabadell earlier this year - because of Brexit and not in the EU anymore

 

[Gommar Goffer]

We were asked for further details by Sabadell earlier this year - because of Brexit and not in the EU anymore

I am a self-employed resident with Santander and I have been asked for information

 

[Tiggy]

I am a self-employed resident with Santander and I have been asked for information

At the time of opening the account you presented a GB passport as means of ID ?

 

[Gommar Goffer]

At the time of opening the account you presented a GB passport as means of ID ?

I no longer have a foreigner's account. It is to do with money laundering.