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Author Topic: Money laundering law, new law?

Offline Myrtle Hogan-Lance

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Money laundering law, new law?
« Reply #10 on: Sun 8 Mar 2015, 12:35 »
Don't know how I missed this thread earlier.

We got a letter from our bank in December about the tariff we are on.  It got misplaced so in February we went in to talk to them about it.  The girl casually mentioned that the only ID they had for us was the green NIE they scanned when we opened the account.  She asked if we could bring our passports in.  A few weeks later it was convenient to drop by with the passports so I did.

I had no idea that there was anything behind such a request.  Funny how Pelinor's bank is very proactive whereas ours is very laid back in its approach.  Ours, by the way, is Cajasiete. 

Offline Janet

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Money laundering law, new law?
« Reply #11 on: Sun 8 Mar 2015, 12:35 »
what certificate did you fill out? The certificate the local bank needs is from the police - as I say on my website, people here need to declare either as resident - and so get a Registro (green cert) - or non-resident, and get a non-res cert. It's an official declaration to the police as to your resident status. If you wanted a resident bank account then you'd need the green cert. Since your account is a non-res one, you need the non-res cert.

The page I link to above should explain it all.

edit: this was in reply to Marion's last post above
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Offline Nova

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Money laundering law, new law?
« Reply #12 on: Sun 8 Mar 2015, 13:12 »
Aside from the non-res certificate which our place requests from the police on behalf of the customer, there is also an internal form called Declaración de Residencia Fiscal, which the customer must complete upon opening the account on all new accounts. This has only come in sometime in the last 4 years (I didn't have to get it back in the days when I was opening accounts) so older accounts are being frozen by the central money laundering department until the form is signed. This has nothing to do with the police or the non-res certificate and is just a form printed in the branch which the customer must complete with details of their address and country of residence and their signature.  Importantly the block placed on the account for absence of the DRF prohibits any funds from entering the account but does not affect withdrawals or direct debits.
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Offline Marion

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Money laundering law, new law?
« Reply #13 on: Sun 8 Mar 2015, 18:45 »
I think it was a certificate to say I was non resident. I had to put down my passport number and nie. I sent it to Madrid.  My bank is the BBVA. Should I be filling in another form too?  Oh dear. Life gets so complex.....
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Offline Janet

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Money laundering law, new law?
« Reply #14 on: Sun 8 Mar 2015, 18:51 »
you just need to confirm with your bank what they need to maintain your non-resident account. Maybe what you sent to Madrid will be sufficient, or appropriate. Maybe the local branch will also need you to submit a non-res certificate. Maybe the local branch already does this for you from an authorisation you've already given. Just ask them, and they'll confirm what they need, if anything.
One must have sunshine, freedom and flowers. Hans Christian Andersen

Offline Marion

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Money laundering law, new law?
« Reply #15 on: Sun 8 Mar 2015, 19:56 »
Thanks Janet. I'll check when I'm out at Easter.
"I don't want to get to the end of my life and find that I lived just the length of it. I want to have lived the width of it as well."

- Diane Ackerman

Offline Nova

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Money laundering law, new law?
« Reply #16 on: Sat 11 Apr 2015, 13:37 »
Over the weekend the wife received an 'Urgent' text from our bank. If we didn't ring a number in the text we risked having out account suspended!! At first I thought it was a scam or something as it did seem very alarming. However we took the plunge and phoned the number. It was our bank and the person on the other end didn't have a clue! Then we knew it was a real text :giggle: All they could do is tell us to get to the bank on Monday morning.
First thing Monday morning found us at the bank. It was explained to us that its a new law introduced by the Bank of Spain to combat money laundering. By all accounts everyone in Spain is going to have to go to their bank and prove who they are. They were satisfied with the wife's ID card but I had to take my residency paper in, the green paper which we did today only to be told 'Oh is hasn't got a photo on' So tomorrow we have to go all the way back with my passport!
One of my brother in laws knew about it but hasn't had to submit himself to the bank as yet. We're going to ask tomorrow if this law only singles out 'Foreigners' on accounts as I am not the account holder on our account only the second named.
So if you get the call remember residency paper (the green one) and your passport,

Would this be illegal if it was only for foreigners??


Just had a thought does everyone know about this and I just haven't been paying attention....again :-[

Well we have just got in on the act now.  All branches have been sent a list of their customers who still do not have their ID documents digitalised and we need to get them before the end of April or else the customers' accounts will be blocked.  Our branch alone has 1500 or so customers on the list  :-X

So the banks must be approaching the deadline to comply with the law and now it's panic stations.  Anyone who has a bank account in Spain, resident or non-resident, regardless of nationality, is advised to contact their bank as soon as possible to check whether they are affected by this unless you know for certain your bank has already digitalised your documents.
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Offline Janet

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Money laundering law, new law?
« Reply #17 on: Sat 11 Apr 2015, 18:20 »
All branches have been sent a list of their customers who still do not have their ID documents digitalised ...
What exactly does "digitalised" signify?

and we need to get them before the end of April or else the customers' accounts will be blocked
This is a legal deadline, so all banks??
One must have sunshine, freedom and flowers. Hans Christian Andersen

Offline Nova

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Money laundering law, new law?
« Reply #18 on: Sat 11 Apr 2015, 18:34 »
I understand it's all banks that are affected, yes, and it is a legal requirement, though I have no idea which law other than the one already mentioned earlier in the thread. It's because it's a legal requirement that accounts will be blocked if the ID isn't collected before the deadline. I'm not sure whether the end if April is the legal deadline or an internal one, but the legal deadline must be close because pressure is very high on us all.

"Digitalizado", the ID documents are scanned and the images stored in the bank's computer database. In our place this database is accessible by all branches and is used to verify the identity of customers when withdrawing cash over the counter, for example. 
If you are always trying to be normal, you will never know amazing.

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Offline Prof

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Money laundering law, new law?
« Reply #19 on: Sat 11 Apr 2015, 23:01 »
I understand it's all banks that are affected, yes, and it is a legal requirement, though I have no idea which law other than the one already mentioned earlier in the thread. It's because it's a legal requirement that accounts will be blocked if the ID isn't collected before the deadline. I'm not sure whether the end if April is the legal deadline or an internal one, but the legal deadline must be close because pressure is very high on us all.

"Digitalizado", the ID documents are scanned and the images stored in the bank's computer database. In our place this database is accessible by all branches and is used to verify the identity of customers when withdrawing cash over the counter, for example.

And don't take a video of a policeman.