The Anonymous Widower

Spanish Banking Practices

This story in the Guardian about Santander and their Chief Executive; Alfredo Sáenz, shows why the only thing you should ever do with this overblown Spanish bank, is to use their cash machine, if it is the only one available.

I did that once and got charged for the money, but didn’t get any. They did find the mistake, so 48 hours later, the money was put back in my account.

But as I’ve often said here, a great friend of mine who retired from a high position in a major clearing bank, always told me to bank with a bank, which is head-quartered in the UK and preferably England, if you live there.

There is also this story on the BBC, about Lloyds divesting themselves of their Spanish Operations at a hefty loss. One of the consequences is that Lloyds now have a small 1.8% stake in a Spanish bank. To quote my old mate, Brian, it looks like they’ve been screwed, glued and tattooed on that deal.

But then it’s only money! Except that a lot of it is our’s!

April 30, 2013 - Posted by AnonW | Finance, World | Banks