Quarterly reporting of common charges
Under Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012, credit institutions must give information on their websites and at all their branches about their standard charges (Opens in a new window) on common operations. This information must be made available to customers in the format established in Annex 1 of the Circular so they can compare charges.
This information must refer to the transactions conducted in each calendar quarter for each product and customer profile included in Annex 1 of the Circular and must be updated quarterly. This information must also be sent to the Banco de España every three months for it to make it available for publication on its website.
This information does not include charges for other banking services, apart from the obvious requirement that they be included in the terms and conditions of any contracts, and that pre-contractual information obligations and the requirement that customers be given adequate under current legislation be complied with.
Lastly, it should be remembered that this information is only for statistical purposes and must not be understood as an offer by the reporting banks, which are not bound by it.