Good news comes for all those who were granted a loan by their bank. The new Compendium of Criteria for Good Banking Practices has been published, a guide provided by the Bank of Spain to guarantee a responsible relationship between banks and clients. In its pages, the institution defines as “good banking practice” the return of the proportional part of the commission of a loan provided that this has been reimbursed in advance.
This guide does not establish any lawbut rather it marks different behaviors that banking entities should have towards their clients. It includes different recommendations, such as the treatment of people with disabilities, the early payment of personal loans or the delivery and management of inheritances. Specifically, in relation to personal loans, it confirms that, in the event that a person obtains pay both the commissions and the full amount of a loan before the established term, the bank should return the proportional part “of the opening commission paid on the day by the borrower.”
In addition, also includes loans granted for the purchase of a vehicle. In this scenario, the Bank of Spain recommends including in the pre-contractual and contractual information how to proceed if the agreed amount is paid in advance. In the case of having purchased the car at a discount, lThe entity may request reimbursement of the bonus enjoyed by the borrower in case of demonstrating an economic loss and specifying the amount.
Bad practices of banking entities regarding inheritances
Regarding testamentary files, the Bank of Spain points out as a “bad practice” conditioning the delivery of inheritance money to the heirs until the rest of the contracted products are settled by the deceased person and linked to their account. Therefore, beneficiaries should be able to receive the available balance in the account without problem. In the event that you want to block accounts or register improper charges after reporting the death of the account holder, the heirs must notify the exact day on which the bank was informed of their death.
On the other hand, when the deceased person leaves debts or loans unpaid, The entities must draft a new deed and bear the management costs regarding the notary, registry, agency, etc. As this is an act considered “good practice”, it will not be mandatory for banks to comply. However, it marks the beginning of fairer treatment by entities, becoming recommendations to follow if you want to maintain a good reputation and a “responsible relationship with clients”.
The compendium also includes the treatment of disabled people
Finally, in relation to the treatment of people with disabilities. The Bank of Spain establishes the need to apply the protocol collaboration framework for the effectiveness of measures to support the legal capacity of people with disabilities in the banking field”. If not, and in the event of a claim by the client, The bank must explain the reasons why it did not apply the protocolotherwise it would be considered a “bad practice”.
On the contrary, It is not considered bad practice to request the signing of the responsible declaration and other additional information to recognize the support of the person who accompanies or helps the disabled person to manage their financial affairs related to the entity. Well, with this it is gguarantees legal security for both parties.