Banco de Portugal establishes rules of conduct that credit institutions, financial companies, payment institutions, electronic money institutions and credit intermediaries have to observe to operate in the retail banking markets.

These rules, established through Notices or Instructions, complement the rules defined in the Legal Framework of Credit Institutions and Financial Companies, in the Legal Framework for Payment Services and Electronic Money, in the Legal Regime that establishes the requirements of access and exercise of the activity of credit intermediary and the rendering of consulting services and in specific legislation for banking products and services, and aim to ensure:

• Compliance with integrity, suitability and competence criteria by the institutions supervised and their staff – general duties of conduct;
• Verification of the rules applying to the offering of banking products and services – specific duties of conduct;
• Disclosure of clear, comprehensive and up-to-date information about the banking products and services offered, before and while the contracts are in force – duties of information.

Banco de Portugal also establishes best practice, through the Circular Letters, which the institutions must follow in their interaction with their customers.

Visit the Bank Customer Website (in Portuguese only) for more information on the institutions' duties and bank customers' rights.