The association of financial users Asufin has started a battle against CaixaBank for the massive marketing of its hybrid cards. The organization has denounced the entity before the Bank of Spain for “displace” debit cards in favor of cards that combine debit and credit functionsand which CaixaBank distributes under the name of MyCard.
The association already raised its voice at the beginning of the year after receiving several complaints from users who claimed that CaixaBank was forcing them to change their usual debit card for a hybrid one. At that time, Asufin began monitoring the marketing of these products by the Catalan bank. After obtaining the results, he has filed a complaint with the supervisor because considers that it is excluding a basic financial product from the market like debit cards.
As detailed by Asufin, after completing the absorption of Bankia, CaixaBank began a campaign to replace its fleet of debit cards with other hybrid cards. To do this, the bank informed customers that their debit cards would carry a commission of 36 euros per year for maintenance costs. The alternative offered by CaixaBank was to cancel this card to replace it with the MyCard card, at no cost.
The association has also received complaints from clientssa those who, having a valid debit card, the bank has proposed to change it for the MyCard card. Some users have also denounced that the bank did not give them the option of contracting a debit card or that it insisted on the benefits of the MyCard card.
“It is a way to expel debit cards from the market, which are the most accessible to everyone on the basis that you have control over personal finances, and not having a card with which to control each charge is a mistake”, Asufin sources point out. Likewise, the association denounces that CaixaBank offers the MyCard card by default for all types of users, without taking into account their profile, which can cause unwanted indebtedness. And it is that, traditional debit cards are the easiest to use by users, since at the time the charge is paid, it is immediately reflected in the account.
The CaixaBank MyCard reflects purchases at the time they are made, but does not charge immediately on the account, but you have to wait two days. The card includes different payment deferral and installment options, which is why Asufin considers that it is a product that carries risks and is not suitable for all customer profiles. “The product as such does not seem bad to us, but as long as it does not replace debit cards,” values the association.
The claim before the Bank of Spain has recently been filed. Now the supervisor has to assess it and decide whether to investigate the case or file it.
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