The commercial policy of the banks: these are the cases in which they can refuse to offer their services to clients

It is common for some clients of banking entities to want to hire a service and get no for an answer, something that can happen for various reasons, which are regulated in the bank’s commercial policy. The commercial policy of a bank is a set of internal and specific rules of each entity, which define its business and the terms with which it works relations with clients, all related to the risk management policy, as indicated from the Bank of Spain. In this way, there are many banks that, faced with some financial situations, allude to commercial policy to have a reason to say no to relationships with potential customers. When this happens, the client who has been rejected by the bank when contracting a service, such as a checking account or a credit, may not understand this decision, something that can generate a feeling of frustration. When can a bank refuse to provide a service The entity can reject a client due to commercial policy in cases such as the following: When contracting a certain credit card. When they deny an agreement to reunify the client’s debts. They refuse to finance an operation or grant a loan despite meeting certain requirements.
By not adapting a banking product to personal circumstances (for example, when faced with a request to remove the contactless function from a card). Just as customers are free to contract, banks are also free when deciding whether to whether or not they want to maintain business relationships with customers: “Incidences that may arise with entities for commercial policy reasons cannot be resolved by the Bank of Spain, since they fall on aspects included by their nature in the field of freedom of operational functioning and assumption of risks of the entity”, they explain from the Bank of Spain itself.