For a few months the main banking entities have begun to publish the payroll direct debit strategy. As we have already analyzed in La Información, at this stage banks have begun to attract new customers by offering money or products as a gift in exchange for opening an account, domiciling our name and keeping it for a certain period of time. Abanca, for example, already offers up to 300 euros for payrolls of more than 1,200 euros, while others such as
It should be noted that this is a double strategy, since not only are new clients obtained, but also income is ensured on a regular basis. Given this plan, the Bank of Spain wanted to warn all users of those good practices that their entities will not comply with when offering these products in light of the incipient campaign to attract payroll.
If you buy it, hire it, we must take into account the different requirements that entities compulsorily request. “The conditions of these customer loyalty campaigns are included in the commercial and risk-taking policy of the entities,” they point out from the Bank of Spain. For this reason, it is important that all firms comply with a series of good practices and banking practices that we detail below.
Know the requirements before signing
Long before accepting the contract, the bank must inform the user about the conditions of the promotions they offer. An advertising campaign is not enough to accept, so the bank must provide the client 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.
Analyze customer profile
Another good practice on the part of the entities is to avoid generating false expectations for the client, especially if they will not be able to meet the conditions. If the entity is aware of the impossibility of satisfying the requirements, it must inform you from the beginning. Since otherwise we will find ourselves with debt problems, additional commissions or overdraft accounts for not completing the marked criteria.
All banks must notify us of the expiration date of the promotional campaign, especially to ensure that it will give us time as beneficiaries of the promotion. This also implies being able to carry out the necessary steps within the established period. Likewise, if the offer includes the delivery of a gift and the entity notifies the client that stocks have run out, they must justify the award order that they have followed in the distribution.
Do not change the agreed conditions
Finally, it will be essential to maintain the conditions agreed in the contract. It is very likely that in exchange for gifts, money or compensation, the entity will require us to keep the account open for a certain period or meet another requirement, such as direct debit a series of receipts. The modification during this period of the initially agreed conditions will be considered a bad practice.