Tom Powell
A MALAGA bank has returned€120,000 to a client, after withdrawing money for insurance policies he didn’t want.
The customer discovered Bankia had taken the money from his account even after he declined the offer of two life insurance policies.
Bank officials had approached him with a ‘very profitable investment proposal’.
However, the next time he was at the bank they urged him to sign the two policies – which he declined – before noticing sums of €75,000 and €25,000 had already been taken.
A further €20,000 had been debited, vaguely described as a ‘transfer order’.
After the bank failed to help, he took his case to consumer watchdog FACUA.
The group told Bankia officials that staff had pressurised the customer and made charges without his consent, demanding the immediate return of the money.
Bankia claimed the customer had initially given a verbal agreement but agreed to return the client’s €120,000 immediately.
It’s called “Spain’s bad bank” for a reason.