‘God helps those who help themselves’.
One thing is what banks advertise and another what they practice with their customers, even when they have a rightful complaint.
‘So… who comes first: the customer or the bank?’
In this case the answer is clear: your bank is more important than you. Take a look.
In 2014, the Spanish National Securities Market Commission (CNMV) published 3,754 reports containing nearly 60% of cases where the customer was right. Banks only rectified on 196 occasions, or 7.3% of the total queries and complaints received. Most of the complaints had to do with scant information on a product or inadequate products for investors.
Why do banks ignore the CNMV?
Because its opinion is not binding, although it can be decisive if customers decide to pursue their case legally.
Furthermore, we want to remind you that banks are not familiar with the insurance industry and they market insurance policies that are linked to other products. For this reason, the policies do not protect you as a client because they sway to other interests rather than to your needs. And banks can never force you to take out insurance; you are completely free to choose the company you feel is the most appropriate for you.