Banca March customers

[rolly]

Have any Banca March customers received a letter in Spanish headed:

Comunicacion Inclusion en Fichero de Titularidades Financieras

and understand what it means?

Sadly my basic Spanish is not enough and I would appreciate any advice.

Thank you.

[K9]

I too would appreciate help

[leftie]

Here's a novel idea. Why don't you try asking the bank for a copy in English. Banca March always used to have an option to receive communications in your own language

[brianbig61]

Why not go to Novo Sancti Petri branch and as to speak to someone . . . I have a strange feeling you're about to be shafted

[yvonne]

From my understanding it is the bank letting its customers know that all opening and closing of accounts will be notified so as to assist in the prevention of money laundering and funding of terroism. www.snabogados.com/blog/que-es-el-fichero-de-titularidades-financieras/

[rolly]

Thank you for the responses. I have reacted to one and emailed a lady I have met at the Novo Sancti Petri branch asking if a copy is available in English or to explain its contents. Will post the reply.

[SKH]

I had a similar letter from la Caixa recently had to take my passport NIE and national insurance number which they took a copy of .

[leftie]

SKH. That's all very well but it doesn't explain to anybody what the letter was actually about!

[floriana]

This is the same stuff I fell foul of with Deutsche Bank, all the banks are checking where their customers are tax resident and asking for tax info. Make sure you get it right or you will end up with and embargo on your account (and they don't tell you) and a subsequent charge because they were unable to accept incoming funds and/or pay bills. Don't expect them to communicate any information or help.

This exercise is turning into a nice little earner for the banks methinks.

Banca March sent letters recently to me and my late husband, we only stopped banking with them some 6 years ago, so this kind of indicates how efficient they are!

[rolly]

I have now had a response from Banca March and this is the main content:

"This is just telling that Banca March is communicating that the customers are having the accounts in accordance with the applicable laws and regulations, to the strict requirements concerning the prevention of money Laundering and the financing of terrorism law."

Thank you for past responses.

[captain pugwash]

I see the wind up merchants and dis information brigade are at it again !!

All this is , is your Bank asking you to confirm , in effect ,whether you are resident or non resident . Banca March wrote to me with the "status" of my account at the 31/12/2017 ....asking me to let them know if it was incorrect

Believe it or not if you're resident you have one type of account , if non resident another

Your bank do this under instruction from the Bank of Spain.

So nothing to worry about if youre being honest

In theory the Hacienda could then cross check type of bank account to your tax status in Spain ...but then there are so many more simple things they could do like check...

All people registered on the health system are paying tax

All people with a spanish car licence are paying tax

or even simpler all people on the National Police records as Resident are paying tax

or all NIE numbers in existence are either paying resident or non resident tax

Its all a bureaucratic joke really

[brianbig61]

Pugwash, can you explain to me and the assembled multitudes the requirements of "Modelo 720"

[captain pugwash]

Brianbig ...suggest you consult a specialist for that