For the first time, it covers obligations related to banking services provided by remote banks via the Internet. Or via ATMs. The gap between what banks charge for the money they lend and what they pay to those who give them their savings on deposits is called the interest rate differential. This, together with the income from bank commissions, forms the banking activity. Typical bank operations are passive (to recover money from individuals and institutions) and active (lending that money to third parties who charge higher costs than they pay for their debt collection operations). Since the Constitution entrusts the authorities with the protection of the legitimate economic interests of consumers, they have published various rules on the transparency of financial institutions (banks, savings banks and other institutions), which oblige them to provide the user with uniform information about their services, which allows us to make informed financial decisions. When they give you a mortgage, they only give you 80% to make sure they don`t lose money, that they force you to buy home insurance, can make sense. But being forced to take it with them and being forced to take out life insurance with them with coercion (if you don`t hire it, we won`t give you the mortgage) should be illegal. Banks must lend on a regulatory basis to avoid further damage to their customers and market instability.
That is, they must carefully assess our creditworthiness (they may ask us to prove our employment, income, wealth and financial situation). The definitions expressed in this dictionary are written in simple and summarized language just to broaden the user`s understanding of the financial terms cited. Therefore, they do not have the academic rigor that a technical dictionary possesses. The information includes legally pre-contractual information (before the conclusion of the contract), which must not only be free of charge, but also clear, timely and sufficient, objective and not misleading. Commissions charged to us by banks or interest paid to us or charged to us (loans and loans) must correspond to the services actually provided (or demonstrable expenses). It describes the obligation of banks to provide their customers with complete and detailed information on commissions and expenses incurred during the previous year in January of each year. And the interest rates that actually apply to each banking service provided to the customer during the previous year by a uniform document by the Bank of Spain. Another innovation is to highlight due diligence in order execution and error correction by banks and other financial institutions, with mediation being the opposite of hiring. Investing helps put money into circulation in the economy; That is, banks generate new money from the money or resources they receive through recruitment, thus granting loans to individuals, companies or organizations that request them. It will be mandatory for banks to give the consumer an « informative guide » to mortgages that will allow the customer to understand all the implications.
There will be more transparency in lower or upper limit clauses and financial instruments to hedge interest rates. The first modern bank was founded in 1406 in Genoa, Italy, its name was Banco di San Giorgio. The first banks appeared in the Renaissance period. Regulation EHA/2899/2011 addresses areas of interest to consumers in their dealings with banks and other financial institutions. The appearance of these capital gains is what gives importance to the existence and viability of banks, since these profits are initially intended to ensure the profitability of depositaries and in turn to accept the advantages of the company itself. Therefore, banks are considered economic intermediaries. Financial intermediaries perform a very important business function, as they are responsible for bringing together suppliers and buyers (savers) of financial products in order to activate the market by channelling savings into investments, thus making investors` capital profitable. For years, the main disadvantage of consumers when hiring a banking service is not having the information that financial institutions have. Without this information, the user can not choose the most interesting service for his economic interests with damage to his bag.
Finally, information on reverse mortgages is specifically regulated. A bank is a financial institution that is responsible for managing the money of some (natural and legal persons) in order to lend it to others. Post of Buenisimo. Thank you for publishing. I hope for more. And it must be delivered with timely notice depending on the nature of the contract or offer and, in any case, before the contract or offer, before the customer is bound by such contract or offer. In addition, it will contain the necessary contractual information and the communication must clearly and faithfully reflect the conditions under which the services are developed, it will not be able to highlight a potential benefit of the service that explicitly hides the risks associated with it, nor omit or distort the relevant information. To do this, the interest rates at which the bank binds the first custodians are usually lower than the interest rates set at the time of the loan, as various factors such as risk are taken into account. To define banking services, it is first good to understand what a bank is and what functions it performs in a modern economy. For the granting of these loans, the bank calculates, depending on the type of loan, amounts of money, called interest (investment interest) and commissions. This regulation is a further development of Law 2/2011 of 4 March on the sustainable economy, which spoke, among other things, of transparency and « responsible lending ».
These are operations in which the bank collects, receives or collects money from people. The BCRA provides you with a comprehensive dictionary of banking and financial terms, so you can correctly interpret what you read at all times. RAE: Usury: 1) Excessive interest on a loan. 2) Profit, fruit, profit or increase from something, especially if it is excessive. 3) Illegal interest paid by money or gender in the reciprocity or loan contract. This « Banking » article was originally published on October 31, 2011 and updated on September 19, 2020. But what it can`t do is force the insurance company, so for now, we recommend asking for some insurance suggestions from two different insurers to see if you can reduce the premium, which seems pretty high. These have been previously requested by the natural user and are those that freely determine the parties (i.e. those imposed on us by the bank). The creation of guarantees, routine tasks such as direct debiting payments, buying and selling foreign currency or storing valuables or documents of great importance are other responsibilities that a bank assumes in the course of its usual activities. I ALREADY DID AND IT DISAPPEARED IMMEDIATELY. I repeat: the banks are almost forcing them to interrupt services that have been circulating on the streets for hundreds of years, such as home insurance.
Santander used. and Caixa a Adeslas (MIBOX). If the customer is reluctant to change. it`s quite a test for him. The reference interest rates for loans (used for the regular review of our loans) will be adapted to the markets at European and national level, creating new alternatives for the choice of reference interest rates that are closer to the real cost of fundraising by credit institutions. Information on interest rates shall include, in a simple manner and in a manner that facilitates comparison between institutions, the annual percentage rate of charge or any other equivalent expression of the transaction. « provide the necessary means to fulfill customer orders immediately or without undue delay with the utmost care » In addition, in these remote services, a telephone number for incidents must appear in a visible place that can be used in case of problems in the provision of services.