MicroBank forms parts of the Spanish Deposit Guarantee Fund of Credit Institutions set forth in Spanish Royal Decree 16 of 14 October 2011. The maximum amount guaranteed is €100,000 per depositor in each credit institution.
This number indicates the product risk, where 1/6 indicates the lowest risk and 6/6 the highest risk.
Any potential customer who is a consumer and natural person, who does not have another payment account in Spain, is entitled to a basic payment account, except in certain cases regulated by law (regulated by Spanish Legislative Royal Decree 19 of 24 November 2017). You do not need to purchase other products or services from the institution in order to open a basic payment account.
We can only charge you a fee of €3 per month for rendering the services included with the account, which are listed below:
a) Opening, using and closing the account
b) Depositing funds
c) Issuing a debit card 1
d) Debit cash withdrawals in euros at CaixaBank branches or ATMs located within the European Union. If you withdraw money from a non-CaixaBank ATM, we may charge you the fees or expenses that we must pay the third-party institution that owns the ATM
e) Up to 120 annual payment transactions in euros within the European Union, consisting of direct debits and transfers (including standing orders) in the institution’s branches and through the credit institution’s online services when these are available
f) Immediate information about your movements through your CaixaBankNow online banking service, your mobile or an ATM
There is no remuneration for the account (0% APR).
The fees or expenses for transactions that exceed any of the quantities specified in point e) above may not be higher annually than the fees or modal expenses applied by the institution for each kind of transaction. These fees or modal expenses are published by the Bank of Spain (www.bde.es).
You can request to open a basic payment account at any CaixaBank branch. CaixaBank employees will request an official identity document from you:
Then, if you do not have a basic payment account open in CaixaBank/MicroBank, you must i) provide us with your socio-economic data in order to fulfil the obligations required by the Spanish Money Laundering Act, ii) sign the Framework Agreement (a document that regulates the basic rules governing your relationship with CaixaBank), and iii) sign the basic payment account agreement (which will include the online banking agreement and, optionally, the debit card agreement).
In certain cases, it is possible that we will be unable to open the basic payment account immediately due to having to conduct further verifications or because we need additional documents required by the Spanish Money Laundering Act. In this case, we will give you a basic payment account application to sign and a copy thereof to take with you. Within a maximum term of 10 days counted from the date the application is submitted, we will give you an answer as to whether or not you are entitled to open a basic payment account. If you are, you must visit the branch and carry out the procedures specified in the previous paragraph. If you are not entitled to open the account, you can submit a claim, if you wish, to CaixaBank’s Customer Support Department (SAC). Information on how to submit a claim to the SAC can be found through this link: https://www.caixabank.es/particular/general/reclamaciones_es.html.
Potential customers may also request that the account be free of charge if they meet the requirements specified in Spanish Royal Decree 164 of 22 March 2019, which sets forth a free system for basic payment accounts to the benefit of vulnerable persons or persons who are at risk of financial exclusion. They must sign a specific application document for such purpose.
A customer shall be deemed to be in a position of special vulnerability or at risk of financial exclusion when the following situations arise:
These criteria must be met by all account holders if there is more than one.
Moreover, the customer must provide the following documents in order to prove their position of vulnerability:
If the aforementioned documents are not provided, the customer must provide a report specifying the composition of the family unit or the reasons for its suitability to receive free access to the basic payment account, when appropriate. This report must be issued by the social services of the Town Hall in which the customer is registered on the local inhabitants’ census (“empadronado”).
The customer will be notified whether their position to access the account free of charge has been accepted or rejected within a maximum term of thirty days counted from the date when all the specified documents are submitted by the customer.
The institution manages the account so that the customer can carry out transactions with such account.
The institution provides a payment card related to the customer’s account. The amount of each transaction carried out with the card is charged directly and in full to the customer’s account.
The institution transfers funds from the customer’s account to another account according to the customer’s instructions.
The institution makes regular transfers of a specific amount from the customer’s account to another account according to the customer’s instructions.
A payment service that charges the ordering party’s payment account, in which the payment transaction is set up by the beneficiary based on the consent provided by the ordering party to the beneficiary, the beneficiary’s payment service provider or the ordering party’s own payment service provider.
The customer withdraws cash from his/her account by card through an institution’s ATM, debiting the available balance.
The institution gives the customer access to a website or app so that the customer can request payment transactions.
Information about fees
1. CaixaBank, S.A., an agent institution of the card issuer, CaixaBank Payments, E.F.C., E.P., S.A.U., assigned Tax Identification Number (NIF) A-58513318, and recorded in the Official Institutions Registry of the Bank of Spain with code number 8788.