My conditions have been changed… Now I get charged fees!
Credit institutions may charge us fees for providing us their services. However, they may only charge us for those services we have specifically requested and accepted, and provided the fees charged actually account for a service that has been provided or costs incurred. Besides, such fees must appear detailed in the corresponding contracts.
However, credit institutions may modify the conditions of products with indefinite term contracts (such as a current account), but always complying with what is established by payment services regulations.
These regulations establish that credit institutions must inform their customers about the new conditions two months before they are applied, either on paper or on another durable medium, allowing us to reject them during that period, should it be the case. If the two month period elapses without receiving our reply, the credit institution will consider we have accepted the new conditions. If we don’t agree with such conditions, we are entitled to cancel our contract within the above mentioned period, free of charge.
Credit institutions may include modifications to contracts and simply inform us about them with the following communication they address us. These would be the ones that are more favorable to customers.