A person enters a bank branch to withdraw 200 euros from his account and the cash employee tells him that this operation has a commission and that if he does not want to pay that commission better, take the money from the cashier. It is what the customers of some banks are finding when they are going to take money out to the window, it is the new banking commission that is pillar by surprise many customers.
"This is not a generalized practice, although some entities are already applying. Commissions for taking money into cash from other entities are usual, but the payment for this window service is a novel practice that causes surprise in the clients", ensures the Bank of Spain in a note, in which it asks the banking entities to make available to their clients "at least a free, accessible and safe means, taking into account the particular circumstances of each collective, so they can have a Cash of your account ".
According to the Bank of Spain, this Commission may not be charged in the basic payment accounts, in which the regulations or limit the maximum monthly commission that can be charged for the use of certain services, among them, that of cash withdrawal of ATMs or office, or states that they are free when the headlines are people in particular vulnerability or risk of financial exclusion.
Fulfilling certain requirements, such as seriously a service effectively borrowed, entities are freedom to establish the price of the services they provide, similar to any other business. However, as the Bank of Spain points out, the entity must report that this commission will charge you. In addition, the Bank must ensure that you accept these conditions.
"If your bank will charge you a commission when you get cash by window and do not agree, check if you have received the previous information, request the pertinent clarifications and, where appropriate, request an alternative means accessible and safe depending on your Circumstances to be able to take your money, "warns the Bank of Spain on this new commission.Date Of Update: 08 October 2021, 12:59