Bank refused his transfer

Question - EWN I am a pensioner aged 76 with property in Spain but still resident in Dubai. I have held an account in La Caixa bank for 25 years, transferring money regularly for various contingencies including a monthly support for three grandchildren.

Last week the bank refused a transfer of €19,000 and asked for proof of income. I showed them title deeds for properties in Dubai, including substantial rental income. I also showed them evidence of investment portfolios.

They insisted on government stamped proof of income or tax payment, which I do not have. The idea of drawing money from assets is obviously beyond them. They sent the money back, less €1,000. Do I have any recourse?

B.H. (by email)


Answer - EWNLa Caixa is applying due diligence under the rules of ‘Sepblac,’ the Spanish regulations against money laundering.

We suggest you have your bank in Dubai contact La Caixa directly to establish your legitimacy.

Another option would be to instruct a Spanish asesor fiscal or tax consultant to steer you right. I have just discovered that Dubai has an income tax system, but with a zero rate and no obligation to declare for most residents.

Send your questions for David Searl through lawyers Ubeda-Retana and Associates in Fuengirola at [email protected], or call 952 667 090.

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David Searl

You and the law in spain Send your questions for David Searl through lawyers Ubeda-Retana and Associates in Fuengirola at [email protected], or call 952 667 090.


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