Credit account
Cover your cash requirements
Have access to an overdraft facility in a current account so you can afford your payments and projects.
-
Flexibility
To cover unexpected cash requirements.
-
Convenience
An account which has an identical operational system to that of a current account.
-
Interest charged on your balance
You pay interest only on the overdrawn amount.
You can view the details and terms of our discounts and benefits in this section or by contacting your personal account manager. The availability of the promotions, discounts and other benefits is subject to the collaboration agreement entered into between MoraBanc and the service providers.
* Discount applied directly by trader at the time of purchase.
Features
- Identical operational system to that of a current account – cheques and promissory notes, transfers, cards…
- Allows all kinds of debits and credits up to the agreed credit’s full limit.
- Flexible financing so you can face the volatile cash requirements that your business’ seasonal activity generates.
-
It is usually allocated to the working capital financing, such as:
- Stock financing.
- Purchases financing.
- Cash endowment to cover cash requirements.
- Unexpected payment coverage.
-
You pay debit interest on the balance at any time.
See terms and conditions - It is an operation that, due to its purpose, formalises short-term - usually after one year.
- The debit balance is returned at once on the last day of the operation’s life, so it can be amortised beforehand.
-
Application resolution within a maximum period of 15 days, as long as all required documents have been provided.
See required documents
- The interest rate is settled differently for every case depending on the transaction’s deadline, its purpose and thecollateral to be provided. It is usually tied to 3-month Euribor and reviewed quarterly concurring with the interests’ settlement.
- A credit account’s commissions and standard costs are:
- Opening fee: 1.70%
- Study fee: 110 euros (+ VAT)
- Quarterly commission on the credit limit: 0%
- Annual commission on the unused limit: 1.10%
In order to correctly assess your credit operation’s application, your account manager will need to be provided with a minimum required documentation.
Minimum required documentation for the Credit account’s study
In case of companies with legal entities (public limited companies, private limited companies, etc.):
- Last tax year’s income statement and balance (and provisional financial statements from the current year).
- Accounts audit in case it is mandatory for the company.
You could also be required to present the last Corporate Tax and IGI (VAT equivalent) settlements and your employees’ contributions to CASS in order to verify that the payment of those tax liabilities is up to date.
In the case of businesses whose owner is a private individual (freelancers and independent professionals) the following items will be required:
- Goods declaration statement
- Annual income and expenditure statement.
- Receipt of extraordinary revenue if necessary.
- Last tax year’s (and current year’s provisional) balance sheet and income statement in case it is mandatory.
If needed, the Bank will also be able to request additional in order to carry out a proper economic and financial analysis of your company.
The account manager will be able to request documentation on the guarantors or additional guarantees in case you need guarantees or other collateral.
Apply
Write to us and we will contact you.
Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The fact of filling out this form implies that the applicant acknowledges that the information and personal data provided are true, accurate and correct; otherwise, MoraBanc declines all responsibility for the lack of truthfulness or correctness of the data.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.
Or call us on +376 88 48 84
You may also like
