• These can be made available at any time.
• Demand deposits generally do not pay interest or they pay interest at a very low rate, because transactions on these funds can occur at any time.
• The minimum banking services account and the basic account are demand deposit accounts with special conditions (see the 'Minimum Banking Services' section).

• These are repaid at the end of the period for which they were set up.
• Credit institutions may allow early withdrawal of the funds but there is usually a penalty, which is reflected in the amount of interest receivable for that period.
• This type of deposit usually pays interest at a rate higher than that for demand deposits.
• Interest may be paid periodically or only when the deposit period ends, and depends directly on the length of that period.

This credit can take the form of:

• Credit agreement for the purchase or construction of permanent owner-occupied, secondary or rental housing;
• Credit agreement for the purchase or maintenance of property rights over existing or planned land or buildings;

Note: In addition to home loans, there are other mortgage loans which are subject to the same rules as home loans, namely: i) credit agreements which, while not home loans, are secured by a mortgage or by another equivalent security usually used on property; and ii) the leasing of property for permanent, secondary or rental housing.

This credit can take the form of:

• Personal credit: Credit for various purposes. The amount, term and repayment method of the loan are defined in advance;
• Motor vehicle credit: Credit for the purchase of a car or for the purchase of other vehicles;
• Revolving credit: Agreement in which a maximum credit limit (ceiling) is established which can be used over time and which can be renewed as the outstanding balance is being repaid.
  It includes, among others:
  
  • Credit card: Agreement that allows the use of credit, through a card, up to a previously agreed maximum limit. The amount used is repaid on the date and under the conditions agreed with the card issuer. After payment, the customer is again able to use the credit within the established limit. It allows you to make payments for goods and services and, in some cases, withdraw cash on credit (cash advance).
  • Overdraft facility: Agreement that allows the customer to access funds that exceed the balance of the demand deposit account, up to a maximum credit limit defined in the agreement.
  • Line of credit: Agreement of indefinite duration in which a maximum credit limit is established which is made available in the customer's account.
  • Banking current account: Agreement of predefined duration in which a maximum credit limit is established and no fixed schedule for repayment is defined.
• Overrunning: This is an overdraft accepted by the institution, which exceptionally allows a customer to have funds available that exceed the current account balance or the agreed ceiling for the overdraft facility.

Cash (banknotes and coins) is a universally accepted means of payment, unlike other payment instruments, such as payment cards, which may not be accepted by merchants.

Cards are payment instruments issued by credit institutions or by other entities authorised for this purpose and made available through a contract that establishes the conditions for their use.

• Debit cards: The debit card is a personal, non-transferable card associated with a payment account that allows various types of transactions to be made, such as cash withdrawals, payments for goods and services, checking account balances, etc. Using the debit card implies the immediate deduction of the transaction value directly from the associated account.
• Credit cards: In addition to allowing payments for goods and services and, in some cases, cash advances, these cards have an underlying contract that allows the use of credit up to a previously agreed maximum limit. The amount used is repaid on the date and under the conditions agreed with the card issuer. After payment, the customer is again able to use the credit within the established limit.

Credit transfers allow the movement of funds between payment accounts. Transfers can be as follows, according to their type:

• Intrabank - between accounts at the same payment service provider.
• Interbank - between accounts at different payment service providers. Interbank transfers can also be internal (within the same country) or cross-border (between different countries).

Transfers can be defined as follows, depending on the payment model:

• Single Euro Payments Area (SEPA) transfers - Euro transfers made through harmonised systems in the SEPA area¹
• Non-SEPA transfers - Transfers in which at least one or both of the service providers (of the payer or the payee) are not based in the SEPA area, or the transfers are in a currency other than Euro, even if the payment entities are located in the SEPA area.

Transfers can also be traditional or instant:

• Traditional transfers - The funds become available on the day the payment order is received - in the case of transfers between accounts held at the same payment service provider - or by the end of the subsequent business day - in the case of transfers between accounts held at different providers.
• Instant transfers - The funds are made available in the beneficiary's account within a maximum of 10 seconds, regardless of the day and time the transaction is carried out.

¹ The SEPA area currently comprises 36 countries and territories: the 27 EU Member States plus the United Kingdom, Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra and the Vatican City State.

Direct debits allow the debtor customer (payer) to make periodic payments by means of a debit authorisation on the bank account, by means of a pre-established agreement with the creditor entity.

The debtor may make payments resulting from long-term and sporadic agreements. Direct debits can also be used to make one-off payments.

Cheques are a means of payment that allows the movement of funds that are available in the accounts of the respective holders and which entitle the payee to receive the amount indicated therein.

The supply of cheques is based on the establishment of an agreement between the bank and the customer, but banks are not obliged to provide this service to their customers.

It should also be noted that cheques are being gradually replaced by more efficient and safer payment instruments, such as payments made using cards, bank transfers or by direct debit.