These are services associated with a current account, such as the bank’s executing the customer’s instructions to receive deposits and make payments on the customer’s behalf.
It is an essential feature of current accounts through which credit institutions commit to perform those debits and credits ordered by their account holders, such as payments, transfers, direct debits, cash deposits or withdrawals and payment of cheques.
These services are an intrinsic feature of a current account whereby banks undertake to make debits and credits as instructed by account holders, such as payments, transfers, direct debits, cash deposits or withdrawals and cheque payments.
The type of cashier service provided and the subsequent requirements are defined in the terms and conditions when opening the account. The bank must inform customers of:
- The channels available for use of this service and those that are not.
- Any restrictions on the place, time or manner in which these services are delivered.
- The bank’s network of branches at which transactions can be carried out. Cashier services are usually provided free of charge, although some charges may apply.
Your account must have sufficient funds when withdrawing cash or making payments. However, unless agreed otherwise, your bank may advance you the amount needed by allowing an overdraft.
If your bank offers cashier service, it must provide the following information at no additional charge:
- A monthly statement of account transactions, giving the date, description and amount of each transaction.
- An annual summary each January of the fees and interest charged during the previous year.
- A printed statement of the interest rates and fees paid, and a copy of all the information on transactions carried out using the account.
Find out more in our 2017 Compaints Report (in Spanish) (89 KB)
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