How it works

The function of the Complaints Service is to receive and process customer complaints about specific transactions of credit institutions subject to the Banco de España's authority. Claims against currency-exchange bureaux which, in addition to buying foreign banknotes or traveller's cheques, are also authorised to sell or transfer them abroad, are likewise addressed. The Complaints Service acts whenever the foregoing activities involve the possible infringement of norms of discipline or good banking practices and conduct. Complaints are processed free of charge.

The organisation and functioning of the Complaints Service are regulated under the Ministerial Order dated December 12th 1989 (Official State Gazette of December 19th) implemented by the Banco de España Circular 8/1990 of September 7th (Official State Gazette of September 20th).

Who can lodge a complaint?

Any individual or company that is a customer of a credit institution can lodge a complaint concerning concrete transactions that affect them.

Prior procedures

Before the Service can receive or process a complaint, the interested party must present evidence that the complaint has already been lodged in writing with the customer complaints department, or its equivalent, of the credit institution in question. This department must provide written evidence of receipt of the complaint presented.

If the customer complaints department refuses to handle the complaint (on grounds that must be justifiable), if the customer does not consider the solution given to be satisfactory, or if the complaint is not resolved within two months of its presentation, the interested party can then file a complaint with the Service.

For this purpose, an institution or group of institutions is considered to have established (or to be formally committed to) an institution or department created for the purpose of safeguarding the rights and interests of its customers, having notified the Banco de España to this effect.

Causes of Complaints

Infringement of the norms of discipline or good banking practices and customs.

Disciplining regulations: These are laws and administrative provisions of a general nature that contain precepts specifically relating to credit institutions, which are obliged to observe them. Among these provisions are both those approved by State bodies or, where appropriate, by the Regional Governments with responsibility for this area, and the Circulars approved by the Banco de España, under the terms envisaged in the Law dated 29th July 1988 on the Discipline and Intervention of Credit Institutions.

Banking customs: These refer to commonly accepted trade and banking customs.

Good banking practices: These refer to practices that do not figure in disciplinary norms or constitute banking customs but which can be reasonably required for the responsible, diligent and respectful running of banking business.

The Complaints Service does not handle complaints relating to matters of business policy (the denial of a loan, for example) or those falling within the jurisdiction of the system of justice. Nor does the Service evaluate any possible damages or order the payment of any pertinent amounts.

Likewise, the Service does not accept complaints that are subject to legal proceedings or court litigation. Nor does it accept complaints lodged by the customers of credit institutions that refer to transactions or events dating back more than five years.

How to lodge a complaint

It should be submitted in writing and include the following information:

• Name, surname and address of the interested party and, if applicable, the same data of the person representing the party and authorisation to this effect. National identity card number (DNI) in the case of individuals, and public registry data in the case of companies.
• Corporate name of the firm referred to in the written complaint, and the office or offices where the events that gave rise to the complaint occurred.
• Description of the events, reasons and request, specifying clearly the matters for which a resolution by the Service is sought, expressly stating that these matters are not the object of any legal litigation.
• Documentary evidence of the complaint's prior presentation to the customer complaints department (if such exists) of the institution in question and, if applicable, the refusal to accept the complaint or the solution given.
• Place, date and signature.

The interested party should also present documentary evidence in support of the complaint lodged.

Processing the complaint

On receipt of the complaint, the proceedings begin. If the identity of the interested party or the institution affected is not sufficiently clear, the events that caused the complaint are unclear, or no evidence is presented that the complaint has already been lodged with the customer complaints department, the party signing the request will be asked to furnish this information within a period of ten days.

Before the proceedings are concluded, the institution in question must be heard. The institution has 15 days to respond to any questions, after which, if these questions are left unanswered, the proceedings can continue.

As a general rule, the proceedings conclude with a reasoned report. It must contain clear conclusions, stating whether the events in question indicate an infringement of the norms of discipline and whether the institution has acted in keeping with good banking practices and customs. The report has no executive attributions.

Effects of the complaint

If the credit institution acts on the report and rectifies its situation with the party who lodged the complaint, as indicated in the conclusions, it should notify the Banco de España within one month of receiving the report, and the case is then closed. If no such notification is received in this period, the proceedings will be included in the records for any legal effects that may be in order.

If it is deduced that the institution's conduct represents an infringement of the norms of discipline or indicates criminal conduct, a tax offence, violation of regulations on foreign exchange, consumption or fair trade, among others, the Legal Services will notify the Executive Commission of the Banco de España to this effect.

Moreover, in the event the parties settle or abandon the action, irrespective of the responsibilities of a disciplinary or other nature that may be appropriate, the Complaints Service is authorised to present to the institution any recommendations it considers pertinent.

As stated, the reports of the Complaints Service are not binding for institutions, and nor may appeals be made against them.

Address of the Complaints Service

Banco de España
Servicio de Reclamaciones
Alcalá, 48, 28014 Madrid
Telephones: 913 385 068 and 913 385 851

Annual Report

Every year the complaints service publishes a report including a statistical summary of the cases processed; the description of the complaints the processing of which has concluded in favour of the claimant, expressing the criteria justifying the rulings, the institutions concerned and the infringements or improper practices in question; a summary of the criteria applied in rulings favourable to credit institutions, when they are of general interest to the public; and a summary of the complaints where, owing to acceptance of the claim by the defending institution or abandonment of action, no report has been delivered.

An electronic edition of the latest Annual reports is available on this site.

From Banco de España Eurosistema website: http://www.bde.es/servicio/reclama/reclamae.htm

By Maria L. de Castro

web@costaluzlawyers.es

www.costaluzlawyers.es