Conditions Of The Commissions For Accounts Banking

Exist in Spain some bank accounts without commissions. That is, accounts that offer different products and services but who do not charge commissions for this. In general bank accounts without commissions are offered over the Internet, and are attractive since they do not pose any costs. However, we must always read the small print. Sometimes it may be more convenient to hire a bank account have some expenses but offers a good profitability, as opposed to bank accounts without commissions that don’t offer any profitability. Therefore, first and foremost, we see in detail what are the commissions.

According to the Bank of Spain, bank fees are amounts that banks or credit institutions charge holders as compensation for the services provided. Here we already have a first key: commissions are charged as a consideration; that is, the Bank offers something in return for what they charge. Bank accounts without commissions, usually not offered many services, so they are more basic accounts. The commissions they can be collected all together, as a single loaded generic type, or separately, detailing in each case the Commission applies and why service. Among the General features of the commissions, we see that they have the character of free. This means that the prices assigned to the commissions can be put by the entities at their disposal, with some exceptions such as cancellations advance in mortgage loans.

It is also important to clarify that the commissions can only respond to services that the Bank has rendered effectively and that the proprietor has full knowledge: can not charge commissions for services that the owner has not requested or accepted. Another basic condition of commissions for bank accounts is that rates charged must be contained in a pamphlet that is written clearly and that is easy to understand. This documentation must also include information with respect to conditions of valuation, that is, the date from which the deposited money begins to generate revenue the interest in current account or savings. In this brochure, the amounts designated in the rates have maximum character: may not charge more than what is contained in the document. In case there are changes in the commissions for contracts of an indefinite duration, as in a current account, then they must be communicated properly by notification customers with reasonable notice. Where they constitute a benefit to the account holder, the modifications may be applied without notice immediately. These are the General conditions that banks should work with commissions. These will be applied, as we have seen, in knowledge of the cardholder and services consideration, so the user should never be out of notice regarding what is going to collect. Therefore, before dazzling us with bank accounts without commissions, it would be better see what conditions these also involve, and what will be the profitability that we will obtain between one and another. Sometimes it is best to hire a It has that if you apply certain commissions, but offer higher wages.

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