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Author Topic: EMBARGOED BANK ACCOUNTS  (Read 5882 times)

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Offline amibovvered

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EMBARGOED BANK ACCOUNTS
« on: September 07, 2008 »
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  • If you don?t have Spanish Residencia status, have a non ?resident bank account but own a home here, you would do well to read this article

    http://www.timesonline.co.uk/tol/money/property_and_mortgages/article4691513.ece

    The article isn?t terribly well researched but it does make a point. I know many people who laughed when the Registro was introduced, and considered there was no way it could be enforced. I have even heard people say that there is actually no way one can be fully legal here ... these are usually people who enjoy the advantages of not being fully legal while being holier than thou with those, like me who are trying to comply. Well, the requirement to prove non-residency, as well as the 3-month limited validity of NIE certificates, shows that they can enforce the Registro system, and are doing so.

    People live here for years outside the system, or at best not fully legal, and perhaps it only hits them when they run full tilt into bureaucracy with, perhaps, the legal or health systems. This living on the fringe is becoming harder and harder to achieve, and when people hit the inevitable brick wall, it is harder and bigger than ever before.

    If you simply want to know how to apply for residencia status, get in touch with any of the Gestos in the area,  many speak English..

    You'll also find more on this subject in the news section http://losgigantes.com/news/?p=726
    « Last Edit: September 07, 2008 by Dolly Diver »

    tanemera

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #1 on: September 09, 2008 »
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  • I checked with Bank Santander, LG, and was advised that there is very little possibility of an account being embargoed, although it is required to sign a Certificate of Non-Residence at the bank every two years.

    orange

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #2 on: September 09, 2008 »
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  • From what I understand - it is people who have a Bank Account but do not
    declare non residency, nor have NIE/NIF numbers associated with the account.
    They were opened with  only a passport and the residential status of the Account
    Holder has never been assessed.
     

    flossie

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #3 on: September 10, 2008 »
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  • Slightly changing the subject but banks here make me so angry.  I?ve just had a row with my bank. I?m blessed with mortgage, car loan etc and like thousands of others struggle to keep it all together. 
    My car loan payment was due on Friday so I just about killed myself to scrape the money together and get to the bank before  closing time 2pm,  made it, just, all OK ? I thought.
    To my horror the bank have bounced my car payment.  I stormed into the bank to complain and was told the cut off time is 11am!!!!!!!  I could have been there before 11am if I?d known.  This has cost me a ?40 fine for missed loan payment and I was only ?37 short to meet the payment in the first place!!!!

    Offline Dolly Diver

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    Re: EMBARGOED BANK ACCOUNTS
    « Reply #4 on: September 10, 2008 »
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  • I sympathise with you on that one Flossie.  The banks are not flexible at all in this current situation.  A friend of mine was fined ?30 for late payment of mortgage when he was only ?20 short.

    I have spoken to Banco Santander regarding the embargoed bank accounts.  The first they knew about the situation  was from the article on our news  which was quoted from The Tenerife Sun.

    All non resident account holders with Santander are required to sign a Bank of Spain declaration on opening their account and every 1 ? 2 years thereafter.  They are not required to go to the Police station.

    Other banks may have different regulations so it is best to contact your own bank and ask the question.

    Does anyone have any further info on this from other banks?

    orange

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #5 on: September 10, 2008 »
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  • Just a quick post about Bank small print, procedure and rules.

    We are certainly in times where fines and charges are more prevalent and eagerly pursued.

    Procedures just off centre from common sense and simple presumption.
     
    Surely not a ploy to entrap those who do not know every part of the small print or rule?

    cheekygirl

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #6 on: September 21, 2008 »
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  • From my experience of the very unexperienced bank staff in this area of the island.  It is now time to start opening accounts in REAL banks, local island banks are really struggling to cope with the average British demands on them.  They do not have the qualified and experienced man power to cope with our every day banking.  It would be much better for the average British banker to open an account with a UK bank on the island i.e Barclays, Lloyds, Halifax etc as they really understand the lingo_ in many cases are British and the necessary procedures.

    VictorM2

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #7 on: September 21, 2008 »
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  • From my experience of the banks on the island, there is nothing to choose between them - UK or Canarian.  Lloyds Bank has opened an office near the Del Duque hotel but I prefer Caja Canarias, LG,  as my experiences with both  have shown that, for me, the customer care level there is superior to Lloyds. 

    gigs

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #8 on: September 23, 2008 »
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  • I have been very impressed over several years with Banco Santander in LG, who have a British member of staff to deal with Brit customers (currently Linda).
    This morning I had a phone call at my home in England from Linda, asking me how I was and suggesting that I send some money (a UK cheque) to get my account into Credit to avoid any problems or unnecessary charges!!!  This level of service would be unheard of from a UK bank
    dealing with a Spanish customer!.

    poolepirate

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #9 on: September 23, 2008 »
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  • I, too, have been very impressed with the service offered by Banco Santander, Los Gigantes.

    Fiona McIntyre who has been our contact for a while has been a gem. She is leaving at the end of October but I am confident that the same level of service will be provided. She will be a hard act to follow but her predecessor was pretty good too.

    gigs

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #10 on: September 24, 2008 »
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  • Sorry, I meant Fiona.
    I don't know any Linda, honest!

    Offline linda

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    Re: EMBARGOED BANK ACCOUNTS
    « Reply #11 on: September 24, 2008 »
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  • i agree with you  shes great

    sossmalley

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #12 on: September 24, 2008 »
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  • I agree, Fiona has been very helpful and I am sorry to see her go, like you.  We have been very happy with the service Banque Santander has given us, since we opened an account some 2 years ago.  We have had brilliant service from both Fiona and her predecessor (I have forgotten her name - Liz, I think, but I am sure someone will correct me).  I only hope, Fiona's replacement will be just as good and will speak English.  Like many, I am sure, our Spanish is not good and embarrassingly, I can say that it is a relief to have an English person in the bank who can relate to our demands and needs and discuss our requirements in English.

    We too, are concerned about this embargo on bank accounts, particularly as we have now had the account for 2 years and have not signed anything since opening the account.  We hope that Fiona, while still there, will contact us if there are any problems.  We are out to LG again, late October but if anyone has any updated info or indeed has had any problems with their account, please let us know.


    tanemera

    Re: EMBARGOED BANK ACCOUNTS
    « Reply #13 on: September 25, 2008 »
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  • Fiona advised me that I should re-sign a certificate of non-residence every two years.  It's five years since I did this so she has one waiting for me when I arrive in October.