Worried customers flood banks as time runs out

BANKS were overwhelmed with worried customers appearing at the last minute to present their ID and avoid having their accounts blocked.

As reported in EWN last week, banks recently started sending out worrying messages to their customers regarding the need to present ID before the end of the month to avoid their accounts being frozen due to an anti-terrorism funding and money laundering law which comes into force on April 30.

Never-ending queues formed at bank branches across Costa towns as customers received urgent messages from their banks (which although the rule was laid down in 2010 only publicised the issue recently) or read in the papers that they needed to go in.

Ausbanc consumers association in Malaga’s delegate Alfredo Martinez complained about the last-minute panic and the lack of planning on the banks’ part, stressing that they had had five years to adapt to the law.

Meanwhile bank workers also complained about the lack of organisation and the extra work caused, but stressed that although it was drafted in 2010 the official announcement was made last May, leaving them little time to prepare.

Read our story on whether this issue affects you