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Recommend a bank - Page 2

eduardo3332

Posted: Sun Aug 21, 2022 12:01pm

eduardo3332

Super helpful member

Posts: 1570

1178 helpful points

Joined: 21 Jan 2016

Posted: Sun Aug 21, 2022 12:01pm

Christine 78 wrote on Sat Aug 20, 2022 3:34pm:

BUT - Eduardo, - what would happen if your money was "mislaid" during transfer is what I'm really asking. How would it be sorted out with no loss to you ?

As I have said Wise is not a bank but your money is and has to be safeguarded.

What is safeguarding?

Safeguarding means that, by law, we have to keep all of your money in accounts that are completely separate from the ones we use to run our business. So your money is backed by assets that we hold in separate accounts. These funds are called ‘safeguarded funds’. 

Where is my money held?

In keeping with FCA regulations, Wise uses two approaches to safeguard your funds. We deposit your funds at banking institutions and invest them in government backed liquid assets, primarily government bonds. 

At Wise we believe in radical transparency. That’s why it’s important for you to know exactly where your funds are held

. TypeInstitutionCountryCash DepositJPMORGAN CHASE BANK, N.AUnited KingdomCash DepositRBS INTERNATIONAL (LONDON)United KingdomCash DepositBARCLAYS BANK PLCUnited KingdomCash DepositADYEN N.V.NetherlandsCash DepositCITIBANK N.A.United KingdomCash DepositAS LHV PankEstoniaGovernment BondUS and UKHeld in the UK

This is some information regarding Wise safeguarding your money.

I fully understand your caution and respect this as we get older we become more wearied of things, I am sure you remember the days when we held a post office savings account and went in a bank to talk with the manager. 

Christine 78

Posted: Sun Aug 21, 2022 12:38pm

Christine 78

Helpful member

Posts: 144

138 helpful points

Location: Camposol

Joined: 14 Dec 2021

Posted: Sun Aug 21, 2022 12:38pm

Hahaha Eduardo - what goes around comes around. only a couple of weeks ago I was swindled out of €100 by a Camposol cash machine. It didn't pay out, but it surely debited my bank account.Took me a week to contact the owners of said machine; and they told me to go to my bank and claim reimbursement. Duly went there, stood in line for 1hour to fill in claim form, and have not been informed whether it was successful yet.Due to this experience I will now draw money out at Correos!  isn't life funny? At least the staff there are real!

eduardo3332

Posted: Sun Aug 21, 2022 4:12pm

eduardo3332

Super helpful member

Posts: 1570

1178 helpful points

Joined: 21 Jan 2016

Posted: Sun Aug 21, 2022 4:12pm

Christine 78 wrote on Sun Aug 21, 2022 12:38pm:

Hahaha Eduardo - what goes around comes around. only a couple of weeks ago I was swindled out of €100 by a Camposol cash machine. It didn't pay out, but it surely debited my bank account.Took me a week to contact the owners of said machine; and they told me to go to my bank and claim reimbursem...

...ent. Duly went there, stood in line for 1hour to fill in claim form, and have not been informed whether it was successful yet.Due to this experience I will now draw money out at Correos!  isn't life funny? At least the staff there are real!

Unfortunately there are many ATMs that are appearing and are not from Banks but private companies .

I believe one of the women on Dragons Den made her millions from such ATMs.

These non bank ATMs normally make a charge or give a poor exchange rate if using a non Euro bank card. 

It has been a big scam in Eastern European cities for many years.

I am sorry for what happened to you and hope you get your money refund.

Ed

Ianmacleslie

Posted: Sun Aug 21, 2022 6:01pm

Posts: 33

6 helpful points

Location: Los Alcázares

Joined: 22 Oct 2021

Posted: Sun Aug 21, 2022 6:01pm

Bankinter near 525.  We have always found them helpful and never experienced any problems.

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eduardo3332

Posted: Sun Aug 21, 2022 8:02pm

eduardo3332

Super helpful member

Posts: 1570

1178 helpful points

Joined: 21 Jan 2016

Posted: Sun Aug 21, 2022 8:02pm

Ianmacleslie wrote on Sun Aug 21, 2022 6:01pm:

Bankinter near 525.  We have always found them helpful and never experienced any problems.

Good to hear someone happy with a bank.

But maybe Los Alcazares is a long way from Mazarron for the op

JohnW

Posted: Wed Aug 24, 2022 7:04am

Posts: 43

11 helpful points

Location: Lo Pagan

Joined: 13 Apr 2020

Posted: Wed Aug 24, 2022 7:04am

Sue244 wrote on Thu Aug 18, 2022 10:53am:

We intend retirement in the area and would like recommendations for a bank with good internet and English spoken

Hi

Like most previous replies I am with Cajamar and find them good ,with a good website and local presence on high street, Sabadell has been a nightmare for me-avoid. However.......... I have recently switched to Starling for my UK account ,apart from being a really good UK bank, they offer a free Euro sub account. They means you can transfer money from your GBP account to your Euro account seamlessly for 0.4% at true market rate. You can use your card in Spain to spend from your Euro account with no charges, set up payees etc for bills. 

I think Starling is hard to beat

Ianmacleslie

Posted: Wed Aug 24, 2022 12:42pm

Posts: 33

6 helpful points

Location: Los Alcázares

Joined: 22 Oct 2021

Posted: Wed Aug 24, 2022 12:42pm

Hi.  We use Bankinter in Los Alcazeres and have had no problems.  They speak some English and have a good internet site.  We have transfers easy.

jhoe5152

Posted: Fri Oct 21, 2022 4:19pm

Posts: 14

1 helpful points

Location: Camposol

Joined: 20 Nov 2020

Posted: Fri Oct 21, 2022 4:19pm

Does anyone have any experience with the BBVA Bank? Im thinking of switching from Caixabank as their charges are just silly now for doing nothing.

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