In order to promote financial inclusion within the European Union, basic payment accountsA financial instrument designed to ensure that all citizens have access basic banking servicesregardless of your economic situation or residence status.
What are the basic payment accounts?
Basic payment accounts are fee-free current accounts operated in Euros that aim to facilitate universal access to essential financial services. Together maximum commission of 3 euros per monththese tools provide:
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Opening, using and closing the account without additional costs.
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Deposit and cash withdrawal.
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realization Up to 120 payment transactions per year within the EUDirect debits, debit or prepaid card payments, online transfers and standing orders are included.
Requirements for opening
Accounts are open to all natural persons legally resident in the European Union, including asylum seekers and those who do not have a residence permit but cannot be deported. interested They must not have another current account in Spain to qualify.
However, there are circumstances under which a banking institution may refuse to open such accounts, such as having another bank account in the country or country. lack of necessary documents.
Free for vulnerable people
As a gesture of solidarity and recognition for people in vulnerable situations, basic payment accounts Free for those whose annual family income does not exceed certain limits.determined by the very effective public revenue indicator (IPREM). This measure aims to alleviate financial difficulties exacerbated by recent crises. war in ukraineBy expanding income thresholds for access to free treatment.
For enjoy thisIn addition to the income requirements, the owner must not have rights to real estate other than his habitual residence or shares in business companies. Commission exemption is initially granted for two years and can be renewed for equal periods if there is no change in the holder’s circumstances.
A more inclusive future
Implementation of basic payment accounts, Significant progress towards financial inclusion in the European UnionEnsuring that all citizens, especially those in vulnerable situations, have access to basic banking services. This initiative not only promotes financial equality, but also strengthens social cohesion by providing a financial safety net to those in need.
For more information about basic payment accounts and how to request them, we recommend contacting: Bank of Spain Banking Customer PortalWhere the conditions, requirements and news regarding these financial instruments are detailed in detail.