MSE News: EU says UK banks confuse customers

This is the discussion thread for the following MSE News Story:

"Europe's banks have been condemned for bamboozling customers with hidden charges, complex price structures and shoddy advice ..."


OfficialStamp.gif

Comments

  • Excellent topic - cheers Guy :)
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • jammin_2
    jammin_2 Posts: 2,461 Forumite
    If Lloyds TSB Spain are anything to go by, Spanish banks are not much better. Hidden charges galore there.
  • fawinds
    fawinds Posts: 372 Forumite
    First Post First Anniversary Combo Breaker
    Banking in Spain, based on my experience and knowledge is horrendous!

    They charge you for almost anything: monthly account maintenance fee, both for current and savings accounts, debit card annual fees, fees for payments from your account, fees for payments into your account and you name it.

    In addition overdrafts are rare -most banks require that you pay your salary into your account for this- and half the banks issue Visa Electron as their only debit card.

    Only a few banks will offer free banking.
  • jammin_2
    jammin_2 Posts: 2,461 Forumite
    fawinds wrote: »
    half the banks issue Visa Electron as their only debit card.
    Which is the only reason I opened a Lloyds TSB Spain account in the first place (I live in Ireland where the VE card is not available).

    Ended up costing so much to run the account it was hardly worth it.
  • fawinds
    fawinds Posts: 372 Forumite
    First Post First Anniversary Combo Breaker
    jammin wrote: »
    Which is the only reason I opened a Lloyds TSB Spain account in the first place (I live in Ireland where the VE card is not available).

    Ended up costing so much to run the account it was hardly worth it.

    If you just need a Visa Electron in Euros, try to open an account here https://www.uno-e.com

    They are an Internet only bank, but offer you free banking and the much sought after electron card for Ryanair flights...

    The pros are they offer free banking and non-resident accounts. The cons is that their site seems to be in Spanish only.
  • Biggles
    Biggles Posts: 8,209 Forumite
    Combo Breaker First Post
    It's nice that the EU have finally worked out what everyone on this site has known for years!
    ;-)
  • jammin_2
    jammin_2 Posts: 2,461 Forumite
    fawinds wrote: »
    If you just need a Visa Electron in Euros, try to open an account here https://www.uno-e.com

    They are an Internet only bank, but offer you free banking and the much sought after electron card for Ryanair flights...

    The pros are they offer free banking and non-resident accounts. The cons is that their site seems to be in Spanish only.

    Brilliant, thank you! Will check it out. :)
  • Biggles wrote: »
    It's nice that the EU have finally worked out what everyone on this site has known for years!
    ;-)

    You read my mind:p

    As for Lloyds TSB, there are many good reasons why they should not have been allowed to become the biggest bank in the UK

    Your experience jammin is one of them.

    They already think legislation does not apply to them here in the UK, give it time, and it will be true as they will be dictating it:rolleyes:
    Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all …………. :(
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards