EA3EWO

HI. A question about pension payments in Spain, we have been living in Spain now for 13 years and our pensions has been paid into La Caixa bank and have found that before being paid into La Caixa they first go to Bank Popular, which I think must be some kind of holding bank, normally we receive it every 28 days but for the last two months its been late, this month three days late, speaking to the pensions people in the UK it is always sent on time, then why does it sometime arrive late, are Bank Popular holding on to this payment because the exchange rate is so good now so therefore making money out of our pensions, any ideas for this late arrival and what part do Bank Popular play in these transactions.
Terry, Valencia.

Fred James

We have our pensions paid into Banco Popular and haven't noticed any changes.

The exchange rate is irrelevant as the pensions are converted to Euros in the UK, not at this end.

EsuriJohn

Are we talking State, Government or private pensions here. I have noted one change with the State pension. For the past five or so years it has been paid into my Banco Popular account at no cost with credit line stating "pension". Then around Christmas time the UK government changed the transfer bank to Bank of New York. Since then we always have a 35c charge against the payment line which now has no mention of "Pension". This is of course against EU law which says State pensions must be transferred free of charge.

Who do I get at for this UK Government, Bank of New York ( for not stating it is a pension ) or Banco Popular for not recognising that the same payment every four weeks is my State Pension. Is it worth the hassle for 35c a month!

Fred James

In my case, they are State and occupational pensions and they still are described as pensions.

35c seems a very small charge. It's probably wrong but as you say, is it worth the hassle!

petew

My UK state pension and my wifes' are paid into a Spanish bank. I haven't noticed any change or any new charges recently. The payment has always seemed to arrive a day (at least) late if there's a public holiday in the USA. For example, mine was due 19th January but arrived one day late. 19th January was Martin Luther King Day - a national holiday. It doesn't bother me personally but seems wrong in principle - could be important to someone who has a payment due.

EA3EWO

Ok, then why does mine go first to Bank Popular and then on to La Caixa, when I told the uk my bank being La Caixa. it is my State Pension.

marcbernard

My State Pension is paid to Spain via World Link, whoever that is. Santander gets it into my account one working day after it is due in UK, regular as clockwork. No charges, and a good rate of FX. My daughter uses La Caixa for business and personal banking and La Caixa are about to loose the account if they don't buck up!!
On the other hand my CS pension used to be paid into my other Spanish bank by the privatised company which has handled it for years, and a comparatively poor rate of FX gave rise to a somewhat heated exchange of correspondence with no result, claiming by both the source and the US bank they then used that no fees or charges were featured. I returnned to having it paid into my UK bank and transfer via Currencies Direct with a much improved FX. Try and keep away from US banks and La Caixa would be my advice.

EA3EWO

Yes ours is paid by world link but why again does it go to bank popular, who are they when my bank is La caixa, how does bank popular get into the frame.

marcbernard

I have no real idea why Banco Popular are involved unless because La Caixa are a savings bank (of sorts) it needs to be fed by a "real" Bank and thus their interposition. I certainly have no such intermediary, since Santander are the largest of the Spanish Banks. Maybe a request for the reason may be in order at your bank?

EA3EWO

Yes and Im wondering why it is held for three days by bank Popular, do they make interest on our pensions, how long does it take to come from the UK to Spain, as its done electronically, a matter of minuets.

EA3EWO

This time my pension is 5 days late, should have come in on the 17th still not in on the 22nd, I spoken to UK pensions and they say it is always sent on time, why the delay.

jonnijon

I live in the Philippines, my pension is paid direct to Bank Of The Philippine Islands every 28 days, if you are lucky This month should have been in my account yesterday Friday but its not there, so that means it wont arrive until Monday night. As for Christmas thats a joke, last year pension paid in November then no more money until 6th January
I know for a fact that DWP will issue my pension on the 15th December but there is no chance of getting it until January

teuchterpete

My wife and I have been having our pensions paid into Unicaja via world link and it always appears a day early into our( joint ) account. Last time mine did not show on the cash machine statement until 5 days later, however when it did show it was "backdated" to the expected day. I have also noticed this with a money transfer. When I checked this at my branch they showed me their screen which clearly indicated that the money was there and the account had been updated although, no evidence on cash machine statement. Could this be the reason for the "delayed" transfer?
Pete

jonnijon

Found the reason for my late payments, its Citibank they close on all American public holidays.They just had Columbus day and Thanksgiving so they keep my money for longer

tortis

We have our pensions paid in the Sabadel Bank, and we do not have any problems it is always on time.