Basic Payment Account 

Who can open the Basic Payment Account? 

The Basic Payment Account is a non-interest bearing current account in euros (TAE -0,90%)¹. It is for any natural person legally residing in the European Union, whether an asylum seeker or, even without a residence permit, who cannot be deported. When opening this account, the natural person will not be able to have another payment account in another entity in Spain. Similarly, the Basic Payment Account may not be used for professional purposes other than those as a consumer.

How can it be opened? 

To open this account, the interested party must identify himself by presenting a reliable document (national identity card, passport, residence card, etc.) and prove his right of access to the account, because he is a resident of the European Union or falls under one of the other two situations indicated above. If the interested party is not a resident in Spain, they must sign the relevant statement of fiscal residence. It is also mandatory to provide the information required in compliance with the regulations concerning anti-money laundering and anti-terrorist financing, in particular the information related to the economic activity carried out by the interested party. 

The Bank will provide the interested party with the pre-contractual information, the information document on fees and the draft contract that must be signed to formalise the opening of the account. 

What fees are there? 

To open and use of the Basic Payment Account, the holder will have to pay a fee of €3 euros per month, which will be settled on a monthly basis. 

With the payment of this fee, the holder may carry out up to a maximum of 120 payment operations in euros within the European Union per year, through direct debits and transfers, including payments made through standing orders. Payments that exceed this number will accrue the fees that are applicable in accordance with the provisions of the Bank's Standard Prices, which are available to interested parties at all its branches and www.bancosantander.es, of which the holder will be previously informed.

What services does it offer? 

You can perform the following services using this account: 

• Deposit funds in euros. 
• Withdraw cash in euros at the Bank's branches or at the Bank's ATMs in the European Union, if you take out the Santander Debit Card associated with this account.
• Carry out the payment operations in the European Union indicated below: 
  • Direct debits in euros. 
  • Payment operations using Santander Debit Card, including online payments. 
  • Transfers in euros, including standing orders, at the Bank's branches and through remote banking services, provided that the customer signs up for the Bank's multichannel service.
• ​

What important information do I need to know about the Basic Payment Account? 

Before signing up for the account, it is important that you carefully consult and review these documents: 

• Pre-contractual information: which describes how the account works and its characteristics. You'll find the most important things highlighted in bold. 
• Fees information document: includes the fees to be paid for the most common services associated with the account.

Free scheme for people in situations of vulnerability 

The holder will not have to pay the account maintenance fee1 if able to demonstrate that they are in a special situation of vulnerability or at risk of financial exclusion, under the terms provided for in Royal Decree 164/2019, of 22 March, establishing a free scheme for basic payment accounts. Updated with Royal Decree-Law 20/2022, of December 27. 

To be entitled to this free scheme, all account holders and authorised parties must prove that they are in a situation of vulnerability. To do this, the holder or holders must apply to the Bank to recognise the right to adhere the free regime and demonstrate that their gross economic income, calculated annually and per household, does not exceed: 

In addition, none of the members of the family unit may be the holder, directly or indirectly, of any real right over real estate, excluding the habitual residence, or hold real ownership of commercial companies. 

The determination of the concept of family unit, is established in the provisions of Law 35/2006 on Personal Income Tax. However, for these purposes, common-law couples constituted in accordance with the requirements that may be required will have the same consideration as not legally separated spouses. 

The holder, or holders and authorised parties, must provide the Bank with the following information about all the people who make up the family unit:

If the holder does not have this documentation, he must provide a report issued by the social services of the City Council at which he is registered, in which the composition of the family unit is indicated or in which the suitability for access to the free scheme of the basic payment account is reasoned. 

If any of the owners is a victim of trafficking or sexual exploitation, they will be exempt from meeting the above requirements of gross economic income, computed annually and per family unit. This situation may be accredited through the unified accreditation model issued by the social services or entity specialized in the matter. 

In addition, the holder will authorise the Bank so that it can obtain by electronic means information on the absence of any ownership of real rights over real estate and commercial companies. 

The Bank will notify the holder of the recognition or denial of the condition to adhere to the free scheme in writing and free of charge, within a maximum period of 30 days counted from the date of the complete submission of the indicated information. Once this period has elapsed without the Bank having sent a communication to the owner, it will be understood that it recognises the right to adhere to the free scheme. 

The free scheme of the account will be maintained for a period of two years, counting from the moment of its recognition. Two months before this period elapses, the Bank will request the holder update the information that demonstrates the situation of vulnerability. In any case, the holder will lose the right to the free scheme should the Bank verify that he/she is no longer forms part of the vulnerable group or at risk of financial exclusion.

Dispute resolution procedures 

In case of discrepancies with the Bank regarding any matter related to the account or associated services, the holder may file a complaint with the Complaints and Customer Service Department, P.O. Box 35,250; 28080 Madrid., either in writing to the above address, by fax, to the number 91-7594836, or to theOffice of the Customer Obudsman at: Oficina del Defensor del Cliente, Apartado de correos 14.019, 28080 Madrid. In the case of any disagreement with the resolution or if, after the deadlines established by the regulations applicable, a resolution is not obtained, the holder may contact the Bank of Spain Complaints Service, after having previously submitted the complaint to the Complaints and Customer Service Department or the Customer Ombudsman.