Understanding Mortgage, Credit, and Payment Services

Maximum Mortgage

Banks often require customers, typically companies, to mortgage a specific property to secure various risk transactions held with the entity.

Liquidation of Loans

Loan agreements may feature a fixed or variable interest rate. Variable rates are adjusted every six months or annually, as agreed upon in the mortgage deed. Beyond interest rates, consider the following potential commissions:

• Opening and study fees
• Partial early redemption fees
• Early cancellation fees

Other expenses not directly related to the credit itself include brokerage fees, policy intervention costs, and the cost of loan cancellation insurance. The APR calculation includes charges received by the lender but excludes fees paid to third parties.

Overdrafts

Overdrafts are provisions exceeding the current account balance. These credits are granted without prior agreement or formal documentation. To prevent abuse, credit institutions penalize overdrafts with high interest rates and fees.

Internal Payment Methods

Drafts and Payment Orders

• Drafts: A payment made by a principal, signaling a credit delivery to a beneficiary. This is an unconditional payment order by name.
• Subscription Orders: A cash delivery made by the payer to the beneficiary's institution, often used to avoid transfer costs.

Transfers

Transfers involve moving money from one account to another.

Internal Transfers

• Pure Transfer: Occurs when the originator and beneficiary are the same person holding multiple accounts at the same bank.
• Internal Transfer: Occurs when the payer and payee accounts are at the same credit institution but in different branches.

External Transfers

These involve funds moving between different credit institutions:

• Direct Transfer: Occurs between the principal's bank and the beneficiary's bank using direct compensatory mechanisms.
• Indirect Transfer: Occurs when no direct compensation mechanism exists, requiring a third bank to intervene.

Confirming

Confirming is a service where a bank manages supplier payments for medium and large companies.

Advantages for the Supplier

• No default risk, as the bank provides advance appropriation (no recurso).
• Elimination of traditional costs, such as rotation effects and commissions.

Advantages for the Bank

• Increased customer loyalty.
• Potential for an expanded customer base.