Taking out a payment card
As with any other contract, you should be aware of the terms and conditions and keep all the documents provided when you take out the card.
- You can find general information on the websites of financial institutions and in their advertising in the media.
- Compare specific offers. Request from the bank detailed information about their conditions, especially regarding fees and expenses, the interest rate applied and payment options.
- Once you have chosen the offer that best suits your needs, you should read the contract carefully before signing it, paying special attention to the interest rate applied and the fees that may be charged.
- The financial institution must provide you with the contract on paper or in some other durable medium, and must deliver the card itself and its PIN in a secure way that guarantees your privacy.
- The contract
- Subsequent notifications of changes in conditions, which come into effect two months later.
- Settlement documents and the receipt for each payment or cash withdrawal. Checking them carefully will enable you to detect any mistakes or discrepancy.
The minimum content of the contract is determined by Royal Decree-Law 19/2018 of 23 November 2018 (in Spanish) and Ministerial Orden EHA/1608/2010 of 14 June 2010 (in Spanish).
Find out more about taking out a card in our 2020 Complaints Report (in Spanish) (85 KB)
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