If you have a bank account, during the month of January you will receive this notification
It is not a hoax. This month of January an important letter will arrive in your mailbox that you should not lose sight of. The Bank of Spain has warned of this notification, which will reach all citizens who have a bank account.
Every year, banking entities have the obligation to inform their clients about the banking services contracted, according to order EHA/2899/2011 of October 28, which specifies that “credit institutions will send their clients annually, during the month of January of each year, a communication in which, in a complete and detailed manner, the information provided for in this order is collected on commissions and accrued expenses and interest rates actually applied to each banking service provided to the client during the year former”.
This notice can arrive physically or telematically. In the latter case, you can find the notification in the mailbox of the application or the website of the bank. In this letter will appear an annual summary of the information of the accounts of said client, as well as the important services that this client has contracted.
In this letter you will find two different documents (or more if you have more than one bank account). One of them will expose the contracted banking services, for example, if you have credits or loans. In this will appear a summary of the interest paid and collected, the commissions and the expenses accrued for each service during the previous year. In the second document you can check the status of the account thanks to a detailed report on the status of the commissions applied.
The Bank of Spain warns that this is a personal notification that will be made individually. If you are a co-owner of any banking product, the total number of co-owners must appear in the notification. Each of these will also receive their own communication reporting the annual summary of the account.
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