All EOS blogs All Spain blogs  Start your own blog Start your own blog 

El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche.
www.costaluzlawyers.es

Legal tip 570. On Banks and information
10 August 2011 @ 09:57

 A new Decree is being prepared by the Government by which  Banks need to offer specific and clear information about their services: including mortgage loans, commissions, interests…

Banks will have to periodically offer information on interests applied on financial services, both in credits and deposits, according to a draft model designed by Bank of Spain.

Banks will charge just for those services that are expressly and firmly requested or accepted by the client.  

Expenses will have to be specified both in periodicity and exact amount.

Publicity is also regulated. It will have to be objective; bringing precise information on what it is being publicized. 

Zahara de los Atunes by Asier Llaguno at Flickr.com




Permalink


1 Comments

SD said:
16 August 2011 @ 23:33

Here's a trick. Try to find out what the charges are on your bank account and make comparisons with other banks. It's almost impossible to find the information and no standard charge comparisons (cost for a transaction, cost of a cashpoint withdrawal, cost for paying money in, cost for making direct debits - and don't get swayed by small percentages, they add up when a salary is involved). We were trying to put this information online, but it's next to impossible to find.


Leave a comment

Please leave a comment about this post. You don't have to be registered to leave a comment.

Name *
 
Website (Optional if you want to link to it.  Include http://)
Spam protection:  What is the capital of Spain? * 
 
Your comment *  (HTML not allowed)  
(Items marked * are required)