BASIC PAYMENT ACCOUNT
OPENING OF BASIC PAYMENT ACCOUNT
WHAT IS A BASIC PAYMENT ACCOUNT?
Everyone has the right to access basic banking services. It is a way of promoting financial inclusion for all those living in the European Union and banks are obliged to offer this type of account and to provide information about it.
WHAT INFORMATION SHOULD THE BANKS PROVIDE?
That this type of account exists and that everyone has the right to open one.
That it is not necessary to contract other services of the bank.
How to open the account and how to close it.
What the features of the account are.
What are the fees and when it is free of charge.
How possible disputes or legal actions are resolved.
WHO CAN ASK TO OPEN AN ACCOUNT?
Anyone, even those who do not have a residence permit. as long as an identity document such as a passport can be provided.
It will be free of charge for those who can provide documentary evidence of being in a situation of social vulnerability or at risk of financial exclusion.
HOW TO OPEN AN ACCOUNT?
The person must apply to the bank.
The bank must assess the application and reply in writing
within 10 days if it has been accepted or denied.
UNDER WHAT CIRCUMSTANCES CAN THE BANK DENY THE REQUEST?
If that person is already a current account holder with another bank in Spain.
If opening an account is in contravention of national security or public order.
If the person does not provide the information that the bank requires in order to comply with current legislation on anti-money laundering and terrorist financing.
FOR FURTHER INFORMATION