High cost of Banking in Spain

Wow was I surprised when I went into a Spanish bank this morning, and asked how much it would cost me to put a cheque valued at around 100,000 Euros into my account. I was told the cost would be, 0.7% value of the cheque, A quick go at my maths,and that works out at 700 Euros the bank would charge me to allow me to loan them money, which even if they only loan it out to someone else for a few days, would add to that total, Got to admit banking seems like money for old rope.

La Marina

I transfer in euro's directly from my bank and it costs me around 35 at my bank and nothing here.

Commented bob.buckley1 in L'Ampolla 2015-10-19 16:48:58 UTC

Lovely to have so much money any you don't want, I will look after it for nothing

Commented sisters in La Marina 2015-10-19 17:57:31 UTC

Sorry to disappoint you sisters,but it was a rhetorical questioned I asked at the bank.I didn't have a cheque to put into the bank, but I sometimes lke to see the difference in charges, At the moment I have found a way where the cheque gets transferred into my account free of all charges, now will look for somewhere where they will actually pay me for borrowing money off me.

Commented Alan in La Marina 2015-10-19 19:35:08 UTC

are you telling us that you went into a bank and asked theoretically how much it would cost in interest to deposit 100.000€?!!!!

Commented exsas in La Marina 2015-10-20 06:17:38 UTC

Exsas, No I didnot go into a bank and ask how much it would cost me in interest If I deposited a cheque for 100,000 Euros. I asked how much they would charge me to take a piece of paper and when they had produced to the bank of the person authorizing payment ,and it then being cleared by the bank and eventually it would be put into an account in my name. Before you write and try to make it look like I am not all there. The actual amount I asked for was not exactly 100,000 Euros, but the per centage charge was for an amount of that size .7%. Just to clear up the fact of you being interested in my life story, I actually did not go into the bank with that specific question, I went in to draw out some money.(not I may add for bungee jumping. sorry to other readers, but that is a private joke but I am sure exsas will have a little titter )

Commented Alan in La Marina 2015-10-20 10:31:20 UTC

im a little bit confused alan,i wasnt very good at school,i was much better at other things.......but to guote you "wow was i surprised when i went into a bank this morning and asked how much it would it cost me to put a cheque valued at 100.000 euros into my account"....surely thats what i asked you if you did!!
no i didnt have a titter,i thought it was quite funny (in a nice way i hasten to add)

Commented exsas in La Marina 2015-10-20 11:00:36 UTC

Don't quite see what you was on about, still don't, But I will try to explain myself. In the U.K. if I put a cheque to go into my account, the bank would credit my account adding the value on the cheque, on to my account , but that amount wouldn't show until my bank had received the clearance, from the clearing banks, I would then be allowed to spend the money. For the work involved there was no charge regardless the size of cheque involved. In Spain the same treatment would of cost me .7% or to make it more real, If I put a cheque into my account for 100,000 Euros the Spanish bank would of given my bank account a credit of 99.300 Euros and kept 700 euros for the work that U.K. banks gave me free of charge. Surely I was entitled to a WOW.
exsas, I have just re read your last comment ,Can I ask you a question or two. Firstly are you questioning if I write things just for the hell of it. what reason in your mind would get you to think that what I wrote was not the truth, If you think it is a lie have the guts to say so then we can have a little bet (not payable by cheque) We can then arrange to go to both the establishments and ask the relevant people involved how much do they charge to handle cheques and I will at least make a profit (from our bet. Then we could ask them, Do they remember talking to me Monday late morning and did I ask the question that you appear to be so interested in knowing the answer to, If I am proved wrong I would willingly apologise to you and any body else who feels upset, mind you that apology dosent come into my equation, as at a rough guess you will not take up my offer. But if you think that you have p***** me off . you are so F****** right

Commented Alan in La Marina 2015-10-20 11:45:15 UTC

alan you willnever know how much your last sentence pleased me,you have made me so happy.
i havent a clue what your ranting on about....theres just 3 things i want to say,then i wont respond to this thread again.
(1) i never thought for one minute you was lying.
(2) you wouldnt ever want to meet me even for a bet.cos you would be surprised at what a nice bloke i was,and i wouldnt be surprised at what a sad git you really are.
(3) i probally have more guts in one of my little fingers than you have in your whole being.

Commented exsas in La Marina 2015-10-20 14:50:12 UTC

Alan, can it be that cheques are unusual now and therefore the bank takes 0,7 % to handle them?
I found that In Germany, Austria, the Netherlands, Belgium, and Scandinavia, cheques have almost completely vanished in favour of direct bank transfers and electronic payments.
This is just a question/thought and not an attack on your credibility.

Commented reindeer keeper in La Marina 2015-10-20 22:28:43 UTC

All I can add is that I recently sold a property received a cheque in excess of €100.000. I paid it into my account Deutsche Bank, had to wait I think it was 5 days and I could then use the money. No charges for paying it in.

They do charge for issuing a bankers draft anything from .01% to .07%. Santander bank offer this free if you have a certain type of bank account. I think you have to have a regular payment coming into your account each month

Commented Miguel in La Marina 2015-10-21 09:02:20 UTC

Thank you Miguel, How weird two banks a few metres a part a German bank takes cheque no charge. A Spanish bank (Which is the one I went to would of charged me 0.7 %, although it is the bank I use and make a regular monthly payment into (My Wifes U.K.State Pension) which apparently gave the account holders allegedly free banking. Guess who wont be on my Christmas Card list this year.

Commented Alan in La Marina 2015-10-21 10:38:54 UTC