Posts Tagged ‘debit card#8217;

27
Mar

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.

Bank Statements: Come Pick Them Up Today!

If you have not provided Caja Madrid with your up to date address, chances are that we are receiving your monthly bank statements here at Financial Aid.  Applied for new debit card but you never received it?  It’s probably here as well.  It is crucial that you maintain Caja Madrid informed of your accurate address information, so please be sure to stop by the branch and show them documentation that proves your address.  If you do not come by to pick up your statements, they will be destroyed at the end of each business quarter (March, June, September and December).

2
Mar

Below is the key information* you should know about the bank account product made available to IE student by Caja Madrid.  Please keep in mind that banking systems vary across country markets, therefore the terms are stated according to Spanish norms.

Current/Checking Account Terms

  • Service fee: €4.50 quarterly if your average balance for the quarter is less than €1,000 (a
  • Overdraft charges: €30 on the sixth calendar day of the account being overdrawn.
  • Annual Nominal Interest Rate for an overdraft: 13.09% nominal / 13.74669% AER (Annual Equivalent Rate) charged quarterly.

Debit Card

  • Service fee: 25€ annually (approximately 2€ per month)
  • Withdrawal limits: 1.500€ daily purchases, 600€ in daily cash withdrawal, 200€ in daily mobile recharges (can be completed via ATM).
  • Charges for cash withdrawal: 0€ at Caja Madrid Office, 0€ at Caja Madrid ATM/cash point, 1.20% or minimum €0.75 ServiRed (Caja Madrid’s network) ATM/cash point,  and 4% or minimum €3.00 at other ATM/cash point or non-ServiRed network institution.

See http://www.servired.es/ for more information about ServiRed network partners.

* Effective as of October 2008 and subject to change.

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