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Banking - Cash Withdrawals Query

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Posts: 538
VIP Member
Topic starter
(@robin-greenwood)
Honorable Member
Joined: 12 years ago

Hello

Not sure if this is in the right place . . .

But, I have noticed that when I withdraw cash I get a receipt that gives the following amounts

Saldo Contabilistico
Saldo Disponivel
Saldo Autorizado

Each with a small amount alongside.

I interpret this to mean that there is only a set amoung available and authrorized for me to withdraw . . . but this amount is a fraction of my actual account balance. Why is this? If I want to buy a high value item - say a fridge or something - how can I do this with my debit card? Or if I want to withdraw 500 euros cash for a spending spree (not that I do but just in case) . . . how can I access my own money?

I'm a bit confused, and if anyone could shed some light that would be helpful. It would be a nuisance to have to go to the bank itself to withdraw money. (Is it just a way of controlling the cash economy?)

Thanks for your help.

11 Replies




Posts: 2369
VIP Member
(@x-camone)
Noble Member
Joined: 12 years ago

When I mentioned on screen I meant asking for a balance on screen (not paper printout) at the Multibanco machine without making a withdrawal, as opposed to looking at the account via internet banking. That way the figures should be presented in roughly the same way - sorry I didn't make myself clear.

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Posts: 605
VIP Member
(@paramonte)
Honorable Member
Joined: 16 years ago

If (!!) I remember correctly .

Suppose you have 5000 Euros in your account and you have made a bank transfer of 500 Euros today, but only tomorrow will go thru so the money still sits in your account. On the other hand your monthly mortgage of 300 Euros is due in a few days. So you will get

Saldo Contabilistico: 5000 Euros
Saldo Disponivel: 4500 Euros
Saldo Autorizado: 4200 Euros

Your situation is surely different, but may be something along these lines (and i am not sure I am 100% correct)

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Posts: 2841
VIP Member
(@shelby)
Famed Member
Joined: 16 years ago

I bank with Caixa Geral de Depositos and find that most multibanco machines, in supermarkets, on the main street have a daily limit of €300.00 which means that you have to enter your card / pin twice and take out €150. x 2 or €100. and €200.

Usually the larger machines in the bank foyer as opposed to the ones on the street, the ones that do cheques, pay ins etc, give a daily limit of €500. providing you have the funds which I am sure you do.

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Posts: 538
VIP Member
Topic starter
(@robin-greenwood)
Honorable Member
Joined: 12 years ago

Hello again

I've just checked online, and it looks like BES transfer the bulk of the account balance into another account, that I didn't know I had, and then leave a couple of hundred euros in the current account.

I had a fright when I saw that nearly all of my money (what little there is) had been transferred into another account. But when I looked in the drop down screen I saw that there were 2 accounts listed for me (I only opened one) and this is where the rest of the money is. Not entirely sure or happy about this.

Will need to have a chat with the bank next time I am in the town.

Does anyone else have experience of this?

Cheers.

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Posts: 1285
VIP Member
(@richardhenshall)
Noble Member
Joined: 13 years ago

The deposit account into which the surplus of your money was swept should earn you (some) interest. As you spend from your current account it will be returned in 100€ multiples to maintain your current account balance at a certain level.

Last month (for our BES deposit account) we earned 0% per annum on the first 1,000€, 0.05% per annum on the next 4,000€ and 0.15% per annum on the next 20,000€ (not that we have that much!). This means your first 5,000€ earns 20€ (less tax!) each year!

However they do offer better rates if you look for them - like all banks they punish inertia.

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