Your bank can make mistakes too
09/06/2026
Even in a world of highly automated and digital banking services, it is worth remembering one simple fact: mistakes can happen. That’s why it’s so important to understand the terms and conditions of your accounts, loans and other banking services and, if there’s ever something you’re not sure about, get in touch with your bank.
Every day, banks process millions of transactions through digital systems: direct debits, transfers, card payments, interest payments and fees. The vast majority are handled without any issues. But when so many transactions are being processed, mistakes can occasionally occur. A payment may be debited or credited incorrectly, a notification may be mistaken, a bank employee might make a simple administrative error or just enter some data wrongly.
This is not about mistrusting your bank, but rather about staying informed. The better you understand the products you have signed up for, the more easily you can spot anything that doesn’t look right. If you know when payments normally leave your account and what interest rates or fees apply, you’ll be better placed to notice an unexpected transaction or identify a potential error.
For that reason, it is a good idea to review, or at least keep track of, information such as: fees and costs, interest rates (on loans and savings), credit card limits and interest rates, settlement dates (i.e. when payments and charges are applied to your account), insurance policies linked to your banking products and the documentation for each one, which is where you’ll find all the terms and conditions you agreed to when you signed up.
Your bank has to provide information that is clear and easy to understand. If something doesn’t add up, if you notice an unexpected transaction or if there is a term or condition that you don’t understand, the best thing to do is ask your bank about it. Sometimes the explanation will be straightforward. Other times, a mistake might need correcting.
Banks can make mistakes, but protecting yourself can be as simple as staying informed and speaking up. Understanding your financial products does more than give you peace of mind. It also gives you more control over your own finances.
For more information, see the Good Banking Practice CriteriaAbre en ventana nueva. And remember: if necessary, you can submit an enquiry or a complaint to the Banco de España’s Complaints ServiceAbre en ventana nueva.
