Opening an account
Before opening an account, the bank must give you detailed information about its main features.
You must be at least 18 years old (or 16 and legally emancipated) in order to open an account, and not legally incapacitated.
Accounts may be opened on behalf of a child or an incapacitated person by their parents or legal guardian. Accounts may also be opened in the name of a legal entity or jointtly owned property.
Before opening an account, the bank must explain the conditions and provide the pre-contractual information with the following details:
- The duration of the contract.
- All the fees or expenses that the bank may charged.
- The interest rate offered and whether it is conditional on taking out other products or services.
- The deposit guarantee scheme of which the credit institution is a member. If it is other than that envisaged in Royal Decree-Law 16/2011Abre en ventana nueva, the (translated) name, address and website of the scheme must be stated.
The bank must give you with a copy of the agreement when you sign. You can also ask for a copy of the signed agreement at any time.
Find out more in our 2017 Complaints Report (in Spanish) (148 KB)
FREQUENTLY ASKED QUESTIONS
What happened to ‘aportaciones de fondos’ (fund contributions)?Read answerabout
What happened to ‘aportaciones de fondos’ (fund contributions)?
Can I withdraw cash at a branch other than where my account is held?Read answerabout
Can I withdraw cash at a branch other than where my account is held?