Financial Safety Advice

Financial guarantees are a new type of security over financial instruments or cash account designed to ensure compliance with financial obligations. They are not a mere mechanism with security functions. They serve to ensure the financial lending institutions safe and efficient coverage, subject to agreement of wills simple. But it also has benefits for borrowers, because they facilitate access to credit on better terms. Hence the trend toward widespread use beyond the initial estimates of limiting its application to relations between banks.

In Spain are regulated in the second chapter of Royal Decree Law 5 / 2005, on urgent reforms to boost productivity and to improve public procurement, in addition to transpose Directive 2002/47/EC, has tried to sort and systematize the scattered banking and financial guarantees.

Financial guarantees are real security interests that arise in nature by the inadequacy of traditional safeguards typified in the Civil Code to meet the needs of financial market coverage. They are special guarantees real nature that allow Read the rest of this entry →

The issue is not to stop making money and that is what they are complying strictly financial institutions, in light of declining revenues by lower demand for mortgage loans before the crisis in the sector.

To avoid this situation, many financial institutions have decided to raise the fees charged for their cards, in what refers to the credit, which we have raised its annual fees by 16% to 28.89 euros on average, while debit cards have risen to 13.71 euros and withdrawing cash on credit from the bank itself these commissions are located in the 2.82% and if on the same network but a different bank reaches 3.98 %.

But not content with this, banks have also decided to raise fees for the opening of new loans, not mortgages, up 2.77% maintaining the same level as in 2007 the other committees, such as study or the maintenance and account management.

So, we have no other choice but when we become annual fee card, go to the bank to try to pay us the amount charged or not to pull cards or apply for loans, more difficult and in times of crisis.