Check your mailbox for the annual information on your banking products
Remember that in January you should receive the annual information about your account that banks are required to send you. It usually arrives by ordinary post, unless you have expressly waived this option and decided to communicate with your bank by electronic means. If this is the case, to access your annual summery check the inbox on your bank’s website or app.
You will usually receive two documents: one with information on the banking services your bank provided to you and another with information on your accounts.
The banking services letter will include information on loans, credits and other products you may have taken out, with a detailed summary of all interest charged and paid, fees and commissions, and expenses accrued for each banking service provided over the previous year.
In the case of the account document, your bank must provide you with a statement of fees for each of your accounts, which will include all the fees and commissions applied over the previous calendar year for the associated services, showing both their unit and total amounts. It will also inform you of the credit and overdraft interest rates applied to the balance of the account and the total amount of interest accrued over that year.
These are personal communications and you will receive them individually, even if you are a joint holder of any banking product. If that is the case, the letter will state the total number of joint holders, who will each receive their own letter.
The annual summary must conform to the model established in Annex 5 of Banco de España Circular 5/2012 of 27 June 2012.