Moroccan Bank Account Application Form

[romablade1889]

Today I received an application form (incorrectly partially completed as it has my nationality as Irish) from Fadesa for a Moroccan Bank Account.

Has anyone received this yet?

Seems a little strange as I haven't yet received my contract or the final plans for my apartment in AP4... Fadesa's usual technique of suggesting it's completion and return are of utmost urgency is evident from the covering letter...

Do they really think we're that gullible!!???

[fandango]

I recieved an application for a Moroccan account a few weeks ago. The covering letter was not from Fadesa but from my agent. The letter did not imply any need for urgency in its completion and return.

I suspect Fadesa have sent you a stock letter stressing the importance of a speedy return so they can expedite proceedings and ensure a quick turnaround when the ball does start rolling.

I don't necessarily think there is anything nefarious going on.

Having said that, I've been wrong in the past.........

[shak]

Sorry romablade most of you are gullible to buy from Fadesa that is why they behave the way they do.

Which Bank with controls will pass their account opening form to a third party. If a Bank wanted to deal with Kabila/Fadesa or for that matter any other developer they would forwarded a contact telephone etc of the Branch via Fadesa documents.

You all had been warned and there is more to come.

[kabilainvestor]

ho hum ....

Careful everyone, Shak's on his "I hate Fadesa" soapbox again ....

zzzzzzzzzzzzzzzzzzzzzzzz

[fandango]

Shak,

I think by now we are all aware that you have some issues with Fadesa. Are you now suggesting that they are thinking of indulging in a little bit of bank fraud?

Your last posting managed to be both vague and slightly sinister.

If you have something to say will you please do me a favour and be a little bit more explicit?

[shak]

No Fandango,
I am not sugguesting A Bank fraud. I am simply saying that a Bank will not give its account opening form to a third party.

I sugguest you go to your Bank in Uk and ask them to give you an account opening form which you require you for a third party.

If you Uk is an extreme example, please try this in Spain, France, Italy?

cheers.

For Kabila investor. I do not hate anybody. Hate is too strong a word !!!!!!!

This is business and investment protection and to minimise future headache when you are thousands of miles away one has to be prudent as to who they are dealing with and what is there track record, at the begening, during construction, after construction and after hand over.


The experiences of you all that has posted at this stage is at the begenings and that is what I mean that there is more to come

[romablade1889]

Let's not get carried away here.... In reality, it's probably down to some over-eager temp in the Fadesa office rather than malicious intent. At worse it's a case of Fadesa trying to expedite closure of the sale with me - something that any good salesman would at least attempt to do... They won't get far with those tactics alas as I'm in no way gullible, thanks very much Shak...

The form Fadesa sent me is a standard bank account request form, albeit partially completed (incorrectly in my case) by Fadesa. It's the same sort of form anyone can get by simply wandering into a bank branch and picking one up off the counter... To prove the point I wandered down to the local bank around the corner (I'm in Munich at the moment) and picked one up. I didn't tell them it was for a 3rd party as no-one asked. They were on the counter, in a nice cardboard display alongside a poster offering a lovely MP3 player for anyone opening an account...

Also, I have lived in several countries around the world and have had no fewer than 5 foreign bank accounts during this time. Every single one of these accounts was opened for me by a 3rd party (in these cases a re-location consultant), so the bit about banks not giving account opening forms to 3rd parties is nonsense. On only two occassions did I have to be at the bank for the final signing of the forms... My signature and ID were enough in the other cases.

I have no intention of opening a Moroccan bank account until I need one. My only concern with Fadesa's letter is that they seem to think I've already got my contract, which is of course not true.

I also re-iterate my advice to everyone - do not sign the contract until your solicitor says it is sensible to do so....

[Merlin]

Friends, whether you are proceeding with this venture.. or not, may I wish us all happiness, health and wealth.

If you have signed your contract and are sending money to your Moroccan bank account (opened for us by fadesa / agent) then I suggest you ask for an additional form that will allow you to set up or change security on the account.
When the account was first opened I thought this was strange and didn't like the idea of someone being able to do this. 1 Because it's not the norm here Down south in UK. 2 Because I felt that I was not in control.
Before you send any money to this account satisfy yourself that you can access the account readily (without having to learn french / arabic overnight) and hence regularly, the form will help you.
Kind regards .. MERLIN.

[Jason]

Why is there a need to open a Moroccan bank account just yet ? I have received no forms but didn 't plan on opening one until much later on ?

[Merlin]

Hi, Jason. According to the contract I signed and an attached annex, regular payments are taken (they refer to it as a 'bill of exchange') from a Moroccan bank account. There are five payments to be made, the first is taken on the 15/02/07. This is seperate from the money sent to Fadesa with my signed contract.
[b]I can only refer to the contract I received[/b]. Your circumstances may be different. However, I received my moroccan bank details a few months ago, but before I begin sending money to it, I want to satisfy myself that I have control over it and the security of the account.
I am not sure if you must have this account, it's worth asking Fadesa / your agent to clarify the position.
Regards.. Merlin

[Jason]

Mine states payment to be made to their Moroccan bank account, no mention of me having my own account.

[Merlin]

Has anyone else got thier own bank account in Morocco? I have had one with Societe Generale and my second staged payment is due to be collected from it.
I have tried setting up a method of internet banking with them but don't think either they or my agent no what they are doing?
Anyone having problems with banking in Morocco?
Merlin

[ScottieDog]

I've been making my payments via BACS/CHAPS transfer to a stated bank account. I have had no need to set one of my owm up yet,

SD