When you buy a property in Spain you will open a Spanish bank account so you can pay your everyday bills and you need to make sure you keep your detail sup to date  as having your bank account blocked in Spain can be problematic, especially if you have direct debits set up or all your savings in that one account.

Here are the main reasons Spanish banks have for blocking accounts.

Expired ID documents 

Banks in Spain are obliged to have their clients’ details updated, meaning they keep a record of the ID you used to open the account as well as when it expires.  If your bank requires an update they’re likely to email you first asking you to present the new documentation, but if you fail to do so this can be a reason to block your account.

Not providing other documentation 

Apart from ID, financial entities in Spain may also require customers to provide tax, residency or work documents that ensure that the customers are within their rights to have access to the bank account in question.

Expired documentation such as an outdated NIF tax identification number can also be a reason for an account to be blocked.

Typing in wrong password 

Typing in the wrong login details won’t necessarily result in your bank account being frozen but it may mean you don’t have access to your online banking until you retrieve your password or call up your bank to sort out the issue. Generally speaking you get three attempts, so if by the second you’ve still not typed in your details correctly, it’s probably advisable to contact your bank unless you’re completely sure you know what your password is.

Joint bank accounts 

Another reason for blocking a bank account may be that there are discrepancies between the co-owners that make operations unfeasible. If joint account holders (or their heirs) give the bank conflicting instructions, the bank has to take a neutral stance, not favouring either of them.

Account holder dies 

When a person dies, it’s up to the inheritors to notify the bank of their death, so they can then interrupt any transactions and cancel any payments. It’s important to do this as soon as possible to avoid any bills or commissions being charged.

As soon as the heirs notify the bank, the most common procedure is for the banks to block the part of the money in the account that belongs to the inheritance (in most cases, 100 percent).  The bank is obliged to maintain the account for 20 years until someone claims the money on it. If nobody claims it, the money will go to the state.

If you are looking to buy a property in Spain and need a mortgage, email mark@vci-network.com for the latest criteria