I wrote to BNP Paribas Press Office

This was the letter I wrote to Pascual Henisse at the BNP Press Office

Hello Pascal

In September of 2004, my wife and I signed a transfer authorisation in the BNP Paribas branch in Javea, with local Director Moises Erades, to move 451,000 Euros from our current account to another, which promised "5% for 5 years with 100% Guarantee". Moises also specifically explained. to my wife and I "It does not matter whether the borse goes 'up' or 'down' your money is 100% guaranteed"

We had a long history of Promo Activos and Treasury Bonds through BNP and BNP Paribas.

We were told by Moises, before we signed, that we could borrow against the 451,000 (as we had done with Promo Activos) should we have need of money, urgently, prior to 17th September 2009.

A year ago we wanted to obtain 50% of the 451,000, but Moises told us the money was tied up for 5 years and we could not use it until September 2009.

In March we asked to borrow 90,000 Euros (against the security of the 451,000 Euros of cash that we transferred) to buy a stress-sale apartment at a 50% saving, but Moises says he still has not received a decision.

By 3rd September 2009, we had discovered that
a) Our 451,000 would NOT be repaid on 17th September. If we redeemed our investment we would lose 150,000 Euros of our retirement savings (we are both pensionistas).
b) We had not been in a 5 year term product of BNP, but a perpetual product issued by Nordea.
c) We had not been receiving 5% interest.

We asked for credit to buy a new car, undertake essential repairs to our home, and make the holiday visit to our son in Thailand and Ann's family in Australia - that we had been denying ourselves for 5 years - but a month later, Moises still does not have an answer for us.

Could you ask someone in BNP to explain our options?

THANK YOU

Clive Read X-0563094-P