More flexible conditions for opening a basic payment account


The Spanish government has made the conditions for accessing basic payment accounts more flexible, thereby allowing more vulnerable citizens to sign up to this banking product aimed at avoiding financial exclusion.

On 27 December the government published a new regulation with measures in response to the crisis caused by the war in Ukraine and the episode of high inflation. These measures are intended to support individuals and companies most affected by price rises.

Noteworthy among these measures, due to its social significance, is the modification of the thresholds for people in situations of vulnerability or at risk of financial exclusion accessing a basic payment account (BPA) free of charge.

This modification raises the income levels that are applied to consider whether an individual belongs to a particularly vulnerable group or is at risk of financial exclusion and it facilitates access to this type of account, which is not subject to fees.

The main new developments in these access thresholds are summarised below:

  • (i) The threshold is increased from 2 times to 3 times the Public Indicator of Income for Multiple Purposes (IPREM) for 12 payments in the case of persons who are not part of a family unit.
  • (ii) It is increased from 2.5 times this indicator to 3.5 times in the case of persons belonging to a family unit with fewer than 4 members.
  • (iii) It is increased from 3 times this indicator to 4 times, in the case of family units with 4 or more members or which are recognised as large families.
  • (iv) It is increased from 3 times this indicator to 4 times in the case of family units that include a person with a degree of disability equal to or greater than 33%, officially recognised by a resolution issued by the Institute for the Elderly and Social Services or by the Autonomous Community’s competent body.
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