Cajamar Bank deducted €61 from my account, without informing, to purchase one share in the bank. I have this account for the past three years and this is the first occasion that the bank have mentioned same to me. I only received an explanation when I queried the charge.
Their explanation is as follows ;
Cajamar is a cooperative bank, the "owners" of Cajamar are the clients that need be holders of 1 share of Cajamar. This share is guarranteed, don't loose value without you win a interest of this amount (61€ )that we pay you in your current account each three months and this only 61€ per client and a unique deduction. This share can be reimbursed when you decided cancel the account.
Has anyone else come across this charge and if so is it legal