Your right to claim against banks and lenders for abusive interest and charges
If a bank, revolving credit card or microloan charged you excessive interest, fees that didn't apply or insurance you never asked for, Spanish law lets you claim and recover what you overpaid.
Usurious interest
Spain's 1908 Usury Law makes a loan void when its interest is notably higher than normal. The Supreme Court applies this to revolving cards and microloans by comparing the APR with the average published by the Bank of Spain. If it's usurious, you only repay the capital borrowed, everything paid above that is refunded, and the right to claim never expires.
Non-transparent clauses
If you weren't clearly told how the interest, the revolving system or the real cost of credit worked, those clauses can be declared abusive and void under consumer law, with a refund of what was charged under them.
Undue fees and charges
A bank may only charge fees for services actually provided and agreed. Automatic fees for overdue balances or overdrafts, and other charges with no real service, can be reclaimed.
Tied or hidden insurance
Making a loan conditional on taking out the lender's own insurance, or adding payment protection insurance without your clear consent, can be an abusive practice. You can ask for it to be cancelled and the premiums refunded.
How to claim
First, complain in writing to the lender's customer service department, which has one month to reply. If the answer isn't satisfactory, you can go to the Bank of Spain or to court, where lenders commonly end up paying the legal costs in these cases.