Opening accounts for minors
Minors may only open bank accounts through their legal representatives, who are their parents or guardians, with the exception of an emancipated minor (over 16 and under 18 years of age), who may act on their own behalf. It is necessary to obtain the minor’s tax identification number or national identity document in advance, and the family record book proving the family relationship must be presented to the financial institution.
Deadline for returning direct debits
Direct debiting is a service offered by all financial institutions. The Payment Services Act 19/2009 establishes that you have the right to return authorized receipts for eight weeks (50 days for most institutions). This period is established for standardized bills presented by common utility companies (electricity, water, telephone, homeowners’ associations, etc.).
“Banks have not charged their customers anything for the mortgage tax”
Our spokesperson, José Luis Martínez, discusses the current situation of the mortgage market in Spain and the need to preserve its proper functioning.
“Normalcy must be restored to the mortgage market”
The spokesperson for the Spanish Banking Association, José Luis Martínez, discusses the Supreme Court’s October 16 decision regarding mortgage stamp duty on the program Más Vale Tarde with journalist Mamen Mendizábal.
José María Roldán addresses the Supreme Court’s decision on mortgages
The President of the Spanish Banking Association, José María Roldán, addresses current banking sector issues following the latest Supreme Court decisions on the mortgage market on Antena 3’s Espejo Público programme hosted by Susanna Griso.
Types of Bank Cards
Debit and credit cards can both be used to withdraw money from ATMs and make purchases in stores, but they operate differently. With a debit card, you can only access the funds available in the current account linked to it. With a credit card, the bank grants you a credit line up to the agreed limit, which allows you to make purchases and withdraw cash, even if you do not have funds in the linked account.
Investment Products
Before acquiring an investment product, it is important to understand the timeframe for recovering your investment and how much money you may need to cover any unforeseen circumstances. You should also be aware that profitability and risk are always linked.
Understand the main online scams
Cybercriminals are constantly looking for ways to make money at your expense. Individuals and organizations are often victims of scams that involve various social engineering techniques, where the required information is obtained from a person instead of by breaking into a system.
Revolving credit card
A revolving credit card is a type of credit card in which all purchases or cash withdrawals made with it, within the credit limit granted to you by the bank, are automatically deferred through monthly payments.
How to Save More
To start saving right now, it is very useful to begin by creating your budget. The more detailed and realistic it is, the better. It is advisable that total income always exceeds expenses. If this is not the case, the first step is to adjust the latter—you may be able to eliminate less necessary expenses.