Changes in fine print for bank transactions
In a recent announcement, the Bank of Portugal (BdP) has updated the rules regarding the minimum font size for indoor advertising posters related to financial products and services supervised by the bank. The new rule states that the minimum font size for such posters should be 40 points [1].
This adjustment applies to a wide range of entities, including credit institutions, financial companies, payment institutions, electronic money institutions, credit intermediaries, and other entities authorized to carry out credit intermediary activities. All these entities fall under the supervision of the Bank of Portugal and are required to comply with this rule in their indoor posted advertising material [1].
The notice, which is under the supervision of the Bank of Portugal, establishes the rules to be observed in advertising for these categories. It sets principles and rules for advertising financial products, services, activities, and institutional advertising. Moreover, it pertains to advertising for activities and institutional advertising, in addition to financial products and services [1].
The goal of the notice is to ensure a balance between the advertising message and the information provided to bank customers for comparison purposes, specifically for different credit offers. This is to ensure that the information is clearly legible and balanced against the advertising message, making it easily accessible to customers [1].
It is important to note that this adjustment applies specifically to indoor posters displayed outside the premises of supervised entities. The minimum font size for such posters, as per the notice, is now 40 points. The notice was published on the Bank of Portugal's website for public awareness [1].
[1] Source: Bank of Portugal's website.
The Bank of Portugal's recent update applies to financial companies in Portugal, requiring a minimum font size of 40 points for indoor advertising posters related to their services. Entities such as credit institutions and payment institutions, all under the supervision of the Bank of Portugal, are now required to adhere to this rule to ensure information provided to customers is clearly legible and balanced against the advertising message.
