Saturday, February 4, 2023

These are the banks where you can no longer work with a savings book

Older people find it very complicated when it comes to performing their banking tasks. The digitization of processes and technological advances mean that some are left behind.

This can be seen in aspects such as opening hours at teller windows, which have been limited in recent years, although some banks such as BBVA, CaixaBank or Santander have improved their service in recent months.

In fact, A good proportion of those over the age of 55 and many over the age of 65 prefer to use the face-to-face service of bank branchesAs warned by the Organization of Consumers and Users (OCU).

This is due to different reasons, but the difficulty in accessing new technologies and the fear of falling prey to one of the bank scams proliferating on the Internet top the list.

There are a total of 18 banking institutions with physical offices in Spain, but many of them are restricting some services, for example, operations with savings books.

Older people who want to use their notebooks will face problems such as service limits or commissions to be paid.

are below Banks where you can no longer work with savings books And in those who do commission, you have to pay.

Banks where you can no longer work with savings books

Banks that no longer issue savings books Abanka, Bankinter, BBVA and Caja Rural de JaenAs indicated by OCU.

As the OCU warned, the absence of passbooks “prevents those without the ability to access digital banking from accurately controlling movements and bank balances.”

These are the banks where you can open an account with just your passport

Another bank that limits savings books, although it still issues them, is CaixaBank. The institution weeds out the books of customers it considers inactive. Furthermore, he advises them to sign up for an online service.

commission for savings book

The rest of the banks issue savings books and allow them to be used as usual, although many of them charge a commission.

For example, Kutxabank charges €3 per point for all customers, while Sabadell charges €10 for those under 65 and Ibercaja €2 for those under 70.

The one who charges the most is BBVA, In which there is a maintenance fee of 10 Euro for account holders with active passbook, Customers are exempted from this commission if they have a domiciled contributory pension of at least 300 Euros.

“There are also constraints on the availability of cash at the window,” the OCU says. This body refers to the 2 Euro commission applied by BBVA at the teller window for withdrawals of less than 2,000 Euros. Same amount that CAXABANK charges you if you do any operation online or at ATM in any branch.

One of the banks that the OCU cites is Santander, which does not allow window withdrawals if the amount is less than 600 euros.

A typical commission on Window is for ordering transfers, which ranges between 0.2% and 0.4% of the amount.

Those from the OCU criticize that these practices “involve the financial exclusion of the most vulnerable groups who should enjoy special protection.”

Nation World News Desk
Nation World News Desk
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