Bankia (& other Spanish banks)....your money

[The Rivet]

Having recently found it very difficult to actually withdraw my money in the UK I was wondering, has anyone else an account in Spain? If so, are you too suffering cards being declined? Both my wife and myself have had our cards blocked!!! All I want to do is withdraw my money but, it seems they want to make withdrawing quite difficult!

 

[Boroseagull]

Yes I do. But I bank with Barclays ES, used to be with Lloyds & previous to that Bank de Andalucia. No problems withdrawing what I need from Barclays but must admit would not trust the smaller, local cajas/banks. However I never keep more than a years supply of cash over here, pensions etc are payed into UK bank & I use a Santander Zero card for day to day purchases. This is paid by d/d each month, simple!

 

[Spiros]

I too find myself in the unfortunate position of having a Bankia account (not by choice). Though in the last week I've been quite happily able to shift money out using the banking website. Have your cards just been blocked for overseas use or were they also blocked in Spain?

 

[Tricky Dicky]

Out of interest, does the Spanish government guarantee the first £85k of a persons money in a spanish account, like we do here ?

 

[Kumquat]

Out of interest, does the Spanish government guarantee the first £85k of a persons money in a spanish account, like we do here ?

I've always wondered about that guarantee. Surely if a country had that guarantee and the shit was hitting the fan to the exten it is in Spain, they wouldn't possibly be able to nonour it? The Government would be bankrupt surely before it paid out much of it? I can see it being viable if a single bank goes under but when most of the banks are on the brink.....

 

[The Rivet]

I too find myself in the unfortunate position of having a Bankia account (not by choice). Though in the last week I've been quite happily able to shift money out using the banking website. Have your cards just been blocked for overseas use or were they also blocked in Spain?

We opened the account with Bancaja and initially there was no problem. Mind you we lived there at the time. My card in Spain was once blocked because I bought a 600 euro jewellry set for my wife and they thought it was potentially being illegally used! I sorted that and all was fine. We then informed them we were moving back to the UK for about 3yrs and initially the cards worked perfectly. Then Bancaja was merged into Bankia and since then we have been almost prevented from getting at our money through ATM's here in the UK. First my wife's card was blocked as recently as 9 days ago. I then used my as yet 'unused' card in the UK to draw 500 euros. Next time we tried to withdraw more BOTH cards are blocked. I was wondering if they were trying to play games to keep deposits in the bank longer by trying to make it difficult for overseas customers to get at their money. I guess we will have to resort to transferring it via the website as you suggest.

 

[Spiros]

I moved my account to Bancaja about 2 years ago because I was getting such a dreadful service from CAM. They were good. Since becoming Bankia it's become quite crap so I'm looking for another bank again. Good luck!

 

[Tricky Dicky]

I've always wondered about that guarantee. Surely if a country had that guarantee and the shit was hitting the fan to the exten it is in Spain, they wouldn't possibly be able to nonour it? The Government would be bankrupt surely before it paid out much of it? I can see it being viable if a single bank goes under but when most of the banks are on the brink.....

Yeah, I can't answer that. I would guess you'd be wise to pull your money out before the country went tits-up, mind, I reckon you'd have a bit of notice - then the people withdrawing will exacerbate the issue.,

 

[Kumquat]

Yeah, I can't answer that. I would guess you'd be wise to pull your money out before the country went tits-up, mind, I reckon you'd have a bit of notice - then the people withdrawing will exacerbate the issue.,

All I know is that burglary rates would go through the f***ing roof with the population stashing their fortunes at home.

 

[tubaman]

I tried using my debit card last week and it wouldn't work. I phoned the bank and they said that there was nothing wrong with it. Tried it again and it still didn't work.

I cleared out my account yesterday via the internet..............

 

[GingerBeerMan]

What a mess. A big thank-you to the people who blocked England joining the Euro.

 

[philsussex]

I have a bit of money with Abbey National (now Santander). Does the same dodginess apply to Spanish banks operating in the UK?

Time to close the account I think.

 

[Fungus]

I have a bit of money with Abbey National (now Santander). Does the same dodginess apply to Spanish banks operating in the UK?

Time to close the account I think.

No dodginess, Santander UK operates as a separate UK bank, with its own £85k guarantee.

 

[philsussex]

No dodginess, Santander UK operates as a separate UK bank, with its own £85k guarantee.

Does that mean if the Spanish Santander goes tits up, the UK operation could still remain in business or would they start trying to prop up the faltering Spanish operation with funds from the UK operation in the knowledge that the UK government will have to bail out the UK investors?

 

[Boroseagull]

There are some wonderful & peaceful protests being organised around the larger Spanish Cities. Have a look at a couple here..
http://www.youtube.com/watch?v=iop2b3oq1O0

http://www.youtube.com/watch?v=Wv5dh8v7mDs

 

[Fungus]

Does that mean if the Spanish Santander goes tits up, the UK operation could still remain in business or would they start trying to prop up the faltering Spanish operation with funds from the UK operation in the knowledge that the UK government will have to bail out the UK investors?

As I understand it, the UK money is "ring-fenced" and can't be used to prop us Spain. Also, the South American operation is much bigger, if they wanted to move funds, so there's no point Santander destroying their UK base as well as their Spanish base. They are a global bank not just UK / Spain.