After signing the contract

Once you've signed the contract, make sure you monitor communications from the intermediary, pay attention to any proposed contract amendments over time, and take advantage of the available protection tools to assert your rights if something goes wrong.

Periodic Information

After you sign a contract, for example, to open a current account, the intermediary must periodically send you:

• a statement or account summary for your current account, showing the transactions carried out, amounts credited or debited, and the balance for the period;
• an updated summary document, highlighting any changes compared to the previous version;
• a fee summary, for payment accounts offered to consumers. This outlines account-related charges, interest paid to or received from the intermediary, and, if the summary covers up to 31 December, includes the Indicator of total costs (ICC). If your annual costs far exceed the ICC, the document will also remind you that you may wish to seek a more affordable offer.

These documents must be provided at least once a year, and at the end of the contract. The same applies to loan contracts, such as consumer credit and mortgages - you have the right to receive periodic updates at least once a year and at the contract's end.

For overdraft facilities, this information may be included in the regular account statements. With current accounts, you can choose whether to receive statements monthly, quarterly, biannually, or annually.

You can receive the documents on paper or digitally. The delivery method is stated in the contract, but you may change it at any time. Online delivery is free; other formats may incur charges.

Use these periodic documents to assess whether your intermediary's offer remains competitive. If you want a better deal, review the information documents of other providers.

You may also request copies of documents relating to individual transactions carried out over the last ten years. The intermediary must respond within 90 days and may charge you only for the cost of producing the documents.

Unilateral amendments to the contract

An intermediary may propose changes to the contract terms that were not previously negotiated with you - known as unilateral amendments - but only if:

• there is a specific clause in the contract allowing for such changes and you have agreed to it;
• there is a valid reason, referred to as a "justified ground".

The intermediary must notify you in writing, at least two months before the proposed changes take effect.

If you do not accept the new terms, you may withdraw from the contract without penalty or charge, as long as you do so before the changes come into force.

If your interest rate is linked to a benchmark index, the intermediary must notify you within 30 days of any changes to the index or its cessation and explain how the terms of your contract will be affected. You then have the right to request more information; withdraw from the contract within two months; or transfer your loan to another intermediary, free of charge.

All communications regarding unilateral changes must be free of charge.

Complaints and the Banking and Financial Ombudsman (ABF)

If you encounter a problem with an intermediary, you can file a complaint - by post or email - free of charge. The intermediary must respond clearly, fully, and promptly, within 60 days of receiving your complaint; within 15 working days for issues related to payment services, such as bank transfers or card payments.

In its response, the intermediary must:

• if the complaint is upheld, specify what action it will take and when;
• if the complaint is rejected, provide a clear and complete explanation, and also inform you about your right to appeal to the Banking and Financial Ombudsman (ABF) or other alternative dispute resolution (ADR) systems.

ADR systems include arbitration and conciliation:

• an arbitrator decides who is right — the client or the intermediary;
• a conciliator helps both parties reach an agreement.

Both are impartial and offer a simpler, quicker and cheaper alternative to taking the matter to court. If you are not satisfied with the outcome, you can still go to court. Intermediaries are required to participate in these systems.

The Banking and Financial Ombudsman (ABF) handles disputes concerning banking and financial services — for example, loans and current accounts. For more details, visit the ABF website.