The Bank of Spain has issued a statement in which it has recalled a series of good practice criteria that banks must continue in their campaigns to attract clients with payrollwho often offer money or products as a gift so that clients have a payroll domiciled in the entity.
In any case, the banking regulator has indicated that the conditions of these customer loyalty campaigns are included within the commercial policy and risk assumption of the entities, so it does not have “powers” to assess the requirements that have been established. agreed.
The leading body has explained that banks should “avoid generating false expectations” among customers. Thus, if the entities know that some people will not be able to meet the requirements to benefit from the campaigns, they must inform from the beginning. In addition, they must also inform of the expiration date of the campaign so that future clients can benefit from the promotion.
In addition, the good practice criteria also state that banks must report on the conditions of the promotions they offer, since advertising pieces are not enough.
“Entities must provide you with clear information on the necessary requirements to be able to benefit from the promotion in question, in the account contract or by other means,” the Bank of Spain has indicated.
Many of these promotions have a permanence commitment. In this case, the banks must maintain the conditions agreed for the account during the entire period of validity of said permanence. In addition, in the case of distributing products as gifts, the entity must justify to the clients the order of adjudication that has been followed in the event that stocks have run out.