The governing coalition of PSOE and Unidas Podemos is proposing new duties for banks to offer preferential, in-person attention to seniors at their branches for a minimum of three hours each day. These requirements are reflected in amendments to the bill establishing the Financial Client Defense Authority, which this document has reviewed. If adopted, each bank branch must appoint a person with specialized training and qualifications described as a Senior Manager. This individual will also be responsible for training staff who provide personalized services to vulnerable groups.
Both groups in the legislature want to guarantee face-to-face service in offices on at least two business days per week, with a minimum of six hours of in-person availability per day on those days. They also propose a formal obligation to provide a dedicated phone service, available at all hours, offering personalized, priority assistance and ensuring continuity with the same agent until the issue or event is resolved, with particular focus on the elderly.
PSOE and UP call for banks to implement user-friendly features on their websites and mobile apps, including clear, readable interfaces and straightforward search tools. In terms of financial inclusion, rural areas should see banks extending reliable service across offices and through alternative channels. ATMs must be accessible and easy to use. The location of beneficiary municipalities and demographic criteria will be defined by regulation.
Additionally, two parliamentary groups propose granting the Bank of Spain authority to supervise and conduct mystery shopping in the marketing and tendering of banking services, without prior notice or the need for bank officials to disclose their roles. They also seek to allow contracts for payment services to be canceled by consumers without notice, within 24 hours, and with the same ease that applies when opening accounts online.
PSOE and UP also advocate for basic payment accounts that must be offered to vulnerable groups, including immigrants who lack residence permits. They have introduced specific changes in this area while preserving some existing differences in policy.
Reinforce commitments
The government coalition has elevated a series of obligations to statute. Credit institutions, along with investment firms, insurers, and pension funds, would be required to provide customized services to customers, with special attention to people over 65 and residents of small municipalities with populations under 5,000. Two Good Practice Codes, which banks committed to last year, aimed to improve care for the elderly and disabled and to ensure access to cash in rural Spain.
These plans were discussed recently at a meeting led by the vice president of economics with representatives from major banking groups and consumer organizations. The discussions yielded positive feedback, and participating firms reaffirmed their commitment to maintaining access to services for seniors. Adherence to the Good Practice Principles is voluntary, but once a bank signs on, participation becomes mandatory. The amendments proposed by PSOE and UP strengthen many of these obligations and raise the overall level of accountability.
Social Security
On another front, PSOE and Unidas Podemos propose that pension payments and other Social Security benefits can be delivered through bank branches or through collaborating financial institutions. They describe the business model of these organizations as payment institutions with extensive face-to-face service points nationwide, including small businesses and community shops, where of course access to services does not demand a high, regular income. This approach, they argue, would improve accessibility in the payment system, especially for those who otherwise struggle to reach traditional outlets.
The executive alliance plans to introduce new cooperation mechanisms to support Social Security obligations, expanding financial participation and strengthening the public’s access to financial services. In particular, they seek to add a new section to Article 79 of the General Social Security Law. The proposed provision would authorize duly registered financial institutions and their groups or associations to work, directly or through a representative body, to assist in the payment obligations of the Social Security system.