What are commercial policies?

Banks’ commercial policies consist of the rules defining their business activities and the conditions under which they establish relations with their clients. Commercial policies are usually related directly with their risk policies.

Financial institutions frequently appeal to their commercial policies so as not to establish relations with some potential clients, a fact that is not only difficult to understand, but also quite frustrating.

Financial institutions may hide behind their commercial policies when, for instance:

  • They do not grant you a certain credit card that you wish to obtain.
  • They refuse to reach an agreement in order to unify your debts.
  • They refuse to finance a certain transaction or grant a certain credit, despite the customer meeting corresponding requirements.
  • They even refuse to adapt a banking product to your personal needs (for instance, removing the contactless feature from your card so that you can feel more secure in the case that your card is lost or stolen)

As well as customers, financial institutions have freedom of contract and may therefore decide whether or not to maintain commercial relations with their customers.

Disputes that may arise between customers and financial institutions due to their commercial policies are not considered claimable to Banco de España, since they fall on grounds that belong to financial institutions’ operational functioning and risk assumptions.




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