Posts Tagged ‘caja madrid#8217;

21
Mar

While IE maintains various agreements with banks in Spain, if you wish tu have us open a bank account for you ahead of  your arrival, then you should request a bank account with Banca March.  A private bank with headquarters in Mallorca, Banca March offers premium service in both English and Spanish.  By opening an account ahead of your arrival, you will be able to send yourself funds from your home country so they’re here and ready for use as soon as your plane touches down at Barajas International.

Please note we are not able to open bank accounts with savings bank Caja Madrid before you are physically in Spain due to Bank of Spain (Spain’s Central Bank) regulations.

24
Feb

Help, my bank account has been frozen!

Written on February 24, 2011 by Joël McConnell in Bank Accounts | Cuentas bancarias

If your Caja Madrid bank account has been temporarily frozen because you still have not provided your NIE number, then ask the branch about the prepaid debit card option as a bridge solution.  We understand that you are not able to do anything but wait until your appointment with the government offices that issue the NIE, however Bank of Spain regulations are very strict on the requirement of having a NIE number for all account holders at Spanish financial institutions.  For more information, please contact Financial Aid at financialaid@ie.edu.

Si su cuenta bancaria de Caja Madrid ha sido temporalmente bloqueada porque todavía no ha facilitado su número de NIE, por favor pida su tarjeta de débito de prepago como solución alternativa. Entendemos que no puede hacer otra cosa que esperar hasta la cita con las oficinas de gobierno que emitan el NIE, pero las normativas del Banco de España son muy estrictas y exigen tener un NIE para todos los titulares de cuentas en entidades financieras españolas. Para obtener más información, póngase en contacto con Ayuda Financiera a financialaid@ie.edu.

18
Oct

All students who wish to apply for a loan from either of IE’s in house loan partners – Banca March or Caja Madrid – must have their complete application submitted before February 1st, 2011. No late applications will be accepted as the typical processing time for loans, including the document processing with the Spanish tax authorities, takes between 8 and 12 weeks. To learn more about both loan programs and to apply see the following web pages:

1) Banca March – www.ie.edu/bancamarch
2) Caja Madrid – www.ie.edu/cajamadrid

Keep in mind that when students first submit their application, often additional documentation is necessary so apply well before February 1st to ensure Financial Aid will accept your loan application. Also keep in mind that although all applications will be considered, the banks have the final decision on whether or not to offer a loan so it’s important to have a plan B in place.

For support with your loan application, contact us: financialaid@ie.edu

18
Oct

Todos los candidatos que deseen solicitar un préstamo de cualquiera de los dos acuerdos de IE – Banca March o Caja Madrid – deben presentar la solicitud completa antes del 01 de febrero de 2011 a financialaid@ie.edu. No se aceptará ninguna solicitud fuera de plazo, puesto que generalmente el tiempo de tramitación de préstamos, incluyendo la tramitación de documentos con las autoridades fiscales españolas, lleva de 8-12 semanas. Para obtener más información sobre los programas de préstamos y el proceso de solicitud por favor visiten las siguientes páginas web:

1) Banca March – www.ie.edu/bancamarch
2) Caja Madrid – www.ie.edu/cajamadrid

Tengan en cuenta que en la mayoría de los casos, cuando se presenta la solicitud, a menudo es necesaria documentación adicional, por ello que deberán solicitarlo antes del 01 de febrero para asegurar que el Departamento de Ayuda Financiera aceptará su solicitud de préstamo. También tenga en cuenta que aunque aceptamos todas las solicitudes, son los bancos los que tienen la decisión final sobre la aprobación o denegación del préstamo por lo que es importante tener un plan B de financiación en caso de denegación.

Para obtener asistencia con su solicitud de préstamo, por favor contacte con nosotros a financialaid@ie.edu.

11
Oct

IE maintains two loan programs, one with Banca March (www.bancamarch.com) and a second with Caja Madrid (www.cajamadrid.es).  Both programs provide an additional option for program financing, for qualifying students.  Neither program is to be considered a “guaranteed loan program”, but instead students (both fiscal residents in Spain and international) with qualifying credit profiles may access partial program funding through either institution.   Do also see the comment at the bottom of this post with regards to “guaranteed” loan programs.

While our Banca March agreement was been functioning normally and without interruption, we’ve seen extended delays in the resolutions provided by Caja Madrid.  The reason we’ve seen delays in the resolutions is that IE and Caja Madrid have been renegotiating the terms of the agreement, and given the complicated financial situation, both institutions had to think about how best to continue to serve IE students while maintaining a sustainable loan program for the funding institution – Caja Madrid.  The situation was aggrevated by the fact that negotiations fell during the month of August and September.

While Financial Aid has been working hard to process applications as quickly as possible, we’ve unfortunately not been able to provide detailed information until today.  Effective immediately, the Caja Madrid loan offer now has the following characteristics:

1) Loan Period: Up to 8 years repayment period.
2) Grace Period for Full Time Students: Up to 18 months.
3) Maximum Loan Value: 45.000€ for Spanish fiscal residents, 30.000€ for non-Spanish fiscal residents/international students.
4) Interest Rate: Euribor + 3,75% (Up to date 12-month Euribor rate information: ENGLISH / SPANISH)
5) Other Fees: 0,30% commission on loan signing, notary fee (based on loan value) and annual account fee.
6) Accident insurance must be purchased by all Caja Madrid loan customers (policy cost based on loan value).

Today we’ve started communicating approved Caja Madrid loans to IE students.  Please keep in mind that one of the concessions we obtained from Caja Madrid was that during the negotiation process they would communicate at a minimum those cases that did not pass the institution’s risk assessment process, so that students who were not approved would at least have the time to make alternate program funding plans.  Caja Madrid could not communicate approved loans until now because that the applicable loan conditions were under negotiation.

While we understand it can be disappointing when a loan is not granted, we do make it clear from the beginning of both the admissions and loan processes that these loan programs are only one of many options the student should consider when building their financial plan, and that funding, if provided by Caja Madrid or Banca March, only ever covers a portion of the tuition fees due.  Aligning the financial resources necessary to fund program tuition and living expenses is ultimately the responsibility of the student.

For additional information on Financial Aid and how to build a solid financial plan, attend one of our many information sessions (see the annual agenda here) held at least monthly, every month from September to July.

Guaranted loan programs aren’t always what they seem so be sure to read the fine print: some institutions are willing to offer a guaranteed loan only when the student purchases expensive payment protection insurance or when the student provides a bank guarantee (that is, the student must lock-in an amount of funds equal to the loan value at a bank until the loan is paid back in full – a costly proposition…)  The best option really is to take out a loan with your local financial institution and in local currency, however we do provide two potenial options if you don’t have a lending institution able to lend you funds.  But again, students must successfully complete the loan application and risk evaluation process before obtaining a loan through Caja Madrid or Banca March.

22
Jul

If Your Graduating or Leaving Spain: Close Your Caja Madrid Bank Account (It’s Your Responsibility)

If you have a Caja Madrid bank account and are an international student at IE, you need to keep in mind that you are responsible for closing your account before you leave Spain.  Any fees that are covered to your account after you leave Spain are your responsibility, and non-payment of these fees affects your credit rating.  IE and Caja Madrid work very closely to ensure the long term health of our partnership, so please act accordingly.

If you are coming up to graduation time you should either pass by the C/Serrano, 114 branch and close your account, or if you are staying on in Spain, renew your account with up to date details.

6
May

Banking Services available through Caja Madrid

Written on May 6, 2010 by Joël McConnell in Uncategorized

Caja Madrid offers a full lign-up of banking services for students, learn more about what they have to offer by downloading the brochure here.

IE, working closely with Spain’s second largest credit union – Caja Madrid, ensures that you can open an account ahead of your arrival so that you have one less thing to worry about.  Once you are a client of Caja Madrid, you’ll have access to a full line of services specifically geared towards IE students.

26
Apr

All students who wish to apply for a loan from either of IE’s in house loan partners – Banca March or Caja Madrid – must have their complete application submitted before September 1st, 2010.  No late applications will be accepted as the typical processing time for loans, including the document processing with the Spanish tax authorities, takes upwards of 8 weeks.  To learn more about both loan programs and to apply see the following web pages:

1)      Banca March – www.ie.edu/bancamarch

2)      Caja Madrid – www.ie.edu/cajamadrid

Keep in mind that when students first submit their application, often additional documentation is necessary so apply well before September 1st to ensure Financial Aid will accept your loan application.  Also keep in mind that although all applications will be considered, the banks have the final decision on whether or not to offer a loan so it’s important to have a plan B in place.

For support with your loan application, contact us: financialaid@ie.edu

29
Jan

Just a quick update to all applicants for the April 2010 intakes: if you plan to apply for a Banca March or Caja Madrid loan, we need to have your loan application, as complete as possible, submitted to financialaid@ie.edu before the end of the weekend (midnight, 31 January).  If 1 or 2 documents are missing because the applicant is waiting for banks or other financial intermediaries to provide supporting documentation, Financial Aid will work with the student in the first week of February to close the application.  However the deadline of 31 January is firm, for both our Banca March and Caja Madrid loan programs, specifically for April 2010 intake degree candidates.

This deadline is necessary for loan processing and student visa processing reasons, so please ensure you use the weekend to get your application submitted if you plan to apply for financial assistance via loans from IE Financial Aid.

17
Jun

Through any device with internet access (WAP, Imode, PDA, Smartphone, BlackBerry), you can access Caja Madrid’s Oficina Móvil. This new service will give you direct access to Caja Madrid’s operations service.  This is an especially valuable service if you are out and lose your card(s) and need to cancel them quickly.

How do I access the service?

Key in your Passport, NIE or National Identity Card (DNI) number and your password at this site: https://wap.cajamadrid.es/OFMOVIL/FrontController, like you access to Oficina Internet from your PC.

Navigation Paths

Movistar: Portal e-moción> Banca/ bolsa> Cajas> Caja Madrid
Vodafone:Vodafone live! (Portal Vodafone) >Internet > Más bancos > Caja Madrid
Orange: Portal Orange>Orange World>Pagos y Bancos>Cajas >Caja Madrid

A través de un dispositivo con acceso a Internet (WAP, Imode, PDA, Smartphone, BlackBerry), puedes acceder a la Oficina Móvil. Con este nuevo servicio tendrás acceso directo a la operativa Caja Madrid.  Es un servicio muy útil para cancelar tus tarjetas si las pierdes fuera de las horas de oficina…

¿Cómo puedes acceder al servicio?

Únicamente tendrás que introducir tu número de pasaporte/NIE o DNI y clave de acceso  en la siguiente dirección: https://wap.cajamadrid.es/OFMOVIL/FrontController, de la misma manera que actualmente accedes a  Oficina Internet desde tu ordenador.

Como llegar…

Movistar: Portal e-moción> Banca/ bolsa> Cajas> Caja Madrid
Vodafone:Vodafone live! (Portal Vodafone) >Internet > Más bancos > Caja Madrid
Orange: Portal Orange>Orange World>Pagos y Bancos>Cajas >Caja Madrid

We use both our own and third-party cookies to enhance our services and to offer you the content that most suits your preferences by analysing your browsing habits. Your continued use of the site means that you accept these cookies. You may change your settings and obtain more information here. Accept