Weekender Alicante North Issue 084

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ISSUE 084 - Friday 8th March 2019

E E FR

Your Weekend Starts Here!

IN THE MONEY

Spanish Bank Charges CAPPED

SPANISH BANKS that have squeezing charges out of customers have been forced by the government to cap current account commissions/ administration charges to just three euros per month, as of Monday March 25th. Some accounts offer commission free banking so long as holders are not overdrawn, but the new law says that the three euro per month maximum charge must now cover credit and debit cards.

by Alex Trelisnki

It means that charges for renewing expired cards must be included, and up to 120 annual withdrawal or payment operations on an account within the entire European Union, not just Spain, to include direct debits, standing orders and transfers. Transferring money between accounts held at different banks will also be changed by the new law, with transfers eased and commissions reduced.

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