Greedy Banks

MigMan · February 19, 2017, 07:10:01 AM

Thank you all for your feed back, thanks Karen but that bank would not be suitable as I cant guarantee a regular deposit of that amount also the Almeria trip is out the question and I don't do on line at all.
OH well I will stick to the Cajamar in town, no matter where you go its the same story 0.oooo S--t interest and around 15 euros a quarter for the maintenance of your account, oh and the annual charge for the privilege of having a debit/credit card. NICE.
Thank you again kind regards Migman

byrney · February 18, 2017, 19:38:54 PM

"That's the downside, I use Banco Popular, it's about all they're good for, they charge 70 cents per withdrawal. One if the worst is Cajamar, I think they charge €1.70 a pop! I only use the ATM 2 or 3 times a month so the amount is negligible."

Thanks for that Karen, but there's the rub. I use the ATM usually once a week, so I went with DB like you are, I'd still be paying about the same amount a year for accessing my money as you do, but without having a Branch nearby.

It's all horses for courses - what suits one person doesn't necessarily suit others. Nice to have the info though so we can make balanced judgements - good thread MM.

Karen4 · February 18, 2017, 10:33:41 AM

Indeed. Hope is a wonderful thing, I'm happy to let them keep hoping!

Elgin · February 18, 2017, 10:27:57 AM

Quote from: MigMan on February 17, 2017, 14:51:57 PM
HI, could any one recommend a bank over here that actually pays you to put money in rather than charging you to store it !!!. I'm with the Cajamar and although I'm generally happy with the service they along with all the others charge commission fees etc every quarter that far out ways the interest .I wouldn't mind so much if it was a complicated account with loads of Direct Debits etc but it isn't.
I would be happy to find a bank that pays no commission but no interest either as I would benefit. It appears they are all the same but if any one knows different please advice. Many thanks a very skint Migman :38:

Interbank euro interest rates are negative at the moment (see http://www.euribor-rates.eu/) so unless the banks can lend the money directly to a borrow it will cost them to take you money from you. Any bank offering "free banking" is doing so on the basis that they hope to sell you something on which they do make them (lots of!) money.

Karen4 · February 18, 2017, 09:13:41 AM

When I said I use Banco Popular I meant I use their ATM machines. I wouldn't bank with them, they are a useless outfit! So far I'm happy with Deutsche Bank and until interchanges I'll keep my account there.

Rod · February 18, 2017, 08:11:48 AM

If you are a pensioner and deposit more than 600 euros per month then Banco Popular is free of charges.

Karen4 · February 17, 2017, 23:18:26 PM

That's the downside, I use Banco Popular, it's about all they're good for, they charge 70 cents per withdrawal. One if the worst is Cajamar, I think they charge €1.70 a pop! I only use the ATM 2 or 3 times a month so the amount is negligible.

byrney · February 17, 2017, 23:09:35 PM

Karen - I was interested in your previous recommendation about Deutsche Bank but was a bit put off by the lack of any branches closer than Almeria.

My nearest bank is in Vera, but, tat is not really a problem, as, like you, I rarely need to visit as I do all transcations on-line.

However, my bank is part of a group which means that I can withdraw funds from any banks (ATMs) within that group without charge.

Is this the same with Deutsche Bank, or do you get charged for withdrawing cash?

Karen4 · February 17, 2017, 15:02:01 PM

I do't pay anything with my Deutsche Bank account, as long as I deposit a certain amount each month, I think it might be €600 or €700, I can't remember. The disadvantage is that there are no branches locally, but in the years I have had the account I've only had to go into the bank once, to sign something, and I enjoyed the day out in Almeria! Deposits can be made at many post offices, there's a list of them on the website.

MigMan · February 17, 2017, 14:51:57 PM

HI, could any one recommend a bank over here that actually pays you to put money in rather than charging you to store it !!!. I'm with the Cajamar and although I'm generally happy with the service they along with all the others charge commission fees etc every quarter that far out ways the interest .I wouldn't mind so much if it was a complicated account with loads of Direct Debits etc but it isn't.
I would be happy to find a bank that pays no commission but no interest either as I would benefit. It appears they are all the same but if any one knows different please advice. Many thanks a very skint Migman :38: