Some bank customers pay over €270 a year in commissions

MADRID -- A recent study by the consumer group Facua reveals that clients of Barclays, Santander, Unicaja and La Caixa are the ones who pay highest commissions, which can reach a hefty €270 per year or more. According to the survey, the median amount paid is €168.73 if your paycheck, benefits or pension are not automatically credited (domiciliado; here we use 'domiciled' for no reason except convenience). Below is a sample listing of the costs:

If you’re being charged for using a credit card, you’re being robbed

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MADRID – Royal Decree 8/2014 became law on September 1: it expressly banns being charged for using a credit card. However, several consumer organizations have discovered that many companies, including some airlines, are still doing so. Indeed, it’s the airlines who are mainly defying the law. According to OCU (Organización de Consumidores y Usuarios), "this is a completely illegal charge that has nothing to do with management expenses.” From its Twitter account (#NoConMiTarjeta – NotWithMyCard), the organization asks consumers to take a screen shot or a photo showing a bill that includes the charge. They are inviting anyone who have been charged to join others in a class action suit they are preparing right now, the idea being to stop the practice, punish the perpetrators and recover the customers’ money. (Enlarge the image and check right at the bottom ...)

Citibank also leaves Spain

MADRID – In a similar move to that of Barclays, Citibank has also decided to sell off its retail business by selling it to Banco Popular, who will be integrating it into its online division, citibank.es  In Spain the US bank, once one of the largest in the world, operated mainly in the credit card business, Citi Oro and Visa Cepsa (both free even without an account at the bank), of which they emitted over a million.//Banco Popular has stated that it will maintain the same conditions for the cards and customers will not notice any difference, as they will continue to operate in the same way as Citibank. However, it remains to be seen whether this will continue into the future, given that the contracts for the cards are of indefinite duration (See our article on Barclays. Also, the Cepsa Visa, obtainable at Cepsa petrol stations and being a shared brand, we shall see if the agreements with the oil company remain the same -- watch this space (and please tell us if you have any news on the subject!)

Barclays customers move to Caixabank

MADRID – With Barclays having sold off their Spanish retail business (270 branches) to one of Europe’s largest banks, its customers’ accounts will automatically be transferred to Caixabank, unless they have decided to move their custom elsewhere. By this time, Barclays clientele will probably have received notification of much of the following. However, we have often been asked to translate this kind of thing because the entity has neglected to put it into English or another European language. So, how will this affect you?