Basic features

Current accounts are a type of deposit from which customers can withdraw money on demand free of charge.


  • Immediate access to your money when you need it. However, it is advisable to inform the bank in advance if you intend to withdraw a large sum of cash, so that they can prepare it.
  • The bank has to provide ‘cashier services’, such as crediting income (salary, pension, etc.) and making payments (bills, monthly loan payments, etc.) as instructed by the account holder.
  • The interest earned will depend on the interest rates and the bank's commercial policy. As with all financial products, you can compare offers using the APR (Annual Percentage Rate).

Each bank account is identified by a unique IBAN  (International Bank Account Number). In Spain, the IBAN  has 24 characters: two country characters (ES), two check digits, and a further 20 digits (the first 4 are the bank code, followed by 4 digits for the bank branch).

You may have one or more cards associated with your account to withdraw cash.

Current accounts should not be confused with other types of special or investment accounts, which offer higher interest rates but do not include cashier services. Before opening an account, the bank must explain the type of account to you, its features, and any conditions that have to be met to qualify for possible benefits (avoiding charges, getting discounts or earning higher interest).

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